Omaha daily bee., 1905-10-06
koouriy'I Son and Son. Law Draw Two
and Half Milliona in Commissions.
EROME WILL new TAKE A HAND
Extraordinary session of Grand Jury
WII Investigate Charges of
Graft In Insurance
Companies.

scandals certainly will be submitted later |
to an extraordinary grand jury were the !
sensational developments today. This was |
brought out by testimony by the legisla-
tive insurance committee that Robert II /
McCurdy. son of Richard A. McCurdy has |
received as commissions on foreign business |
Nl6S,S9 and on domestic business S4l.S $50. |
and that Louis A. Thebaud. son-in-law of |
Richard A. McCurdy, has received S9aO.1l9 /
in commissions 1t was also brought out |
that Robert II. McCurdy expected his in |
come this year would be about $4,000
Previous to this testimony w. F. Thum- |
mel, an attorney OF the Mutual Life In |
| surance company. testified that he paid to |
the chairman Of the republican congress
sional campaign committee the sum of |
$500 in cash as campaign contribution.
Jerome VIII Investigate.
| Mr.. Jerome said In court that the scandal |
will be submitted to an extraordinary jury |
and said the inquiry by the legislative COM
mittee had shown greater moral obliquity |
and moral obtuseness on the part of the |
! persons important I'm the business world
| than did the shocking revelations in regard
to the Equitable Life.r
An incident of the days developments
was the publication OF letter from Charles
Z. Hughes counsel for the legislative COM
|
James II. Hyde, the former controlling
stockholder of the Equitable Life Assurance
society, in which Mr.. Hughes said the COM
mittee would make no discrimination in
| favor of Mr. Hyde in his examination
| The Chamber OF Commerce at its meeting
today adopted a resolution declaring that
additional legislation is necessary for the
proper regulation of life insurance com
panies.
w f. Thummel, the attorney who was
associated with Judge Andrew Hamilton
in looking after legislation for the New
York Life, the Mutual and the Equitable
in the so-called legislative pool, testified
before the committee that he was now en-
ployed as attorney for the Mutual Life In
| surance company at a salary OF $500 a
year. Mr.. Thummel said that he personally
placed in the hands of the chairman of
the republican congressional committee the
! sum of $500 which had been given the
witness for that purpose by Vice President
Grannis OF the Mutual Life Insurance COM
pany. Witness said the contribution had
been suggested by the danger OF a demo-
cratic house, that would result in tariff
and other legislation of a character to
upset business and affect policy holders
He said other companies had been asked
10 contribute. but he did not know how
many did. Mr.. Thummel denied paying
money to any legislator for the purpose of
| influencing legislation to any other person
for that purpose. He described the legis-
lative pool and said the expenses were
met by the company looking after the
territory In which the expenses were in
CURED. and later an adjustment of these
expenses were made between the three
companies. He had received money from
the New York Life in these adjustments
Mr.. ThummeI said Mr.. Mccall was in
error in his testimony yesterday, that he
had paid money to witness to further super
vision of insurance. Witness had talked
to Mr. Mccall on this subject and Mr..
Mccall had promised to contribute to II,
but no money was paid. He further de-
scribed the division of territory in the
country under which the three companies
looked after Legislation affecting insurance
interests, and said the Mutual had paid out
in 1904 about $4,000 for legislative work.
Robert McCurdy's Testimony.
II was at this point that Herbert III. Nc
Curdy was called. He had number Of
documents I'm his hand he mounted the
platform. and when he had been sworn
he testified that he was the general man
ager OF the Mutual IAfe Insurance Com
pany. His powers. he said. were dele
presidents of the company. His duties were
principally confined to the supervision of
the agency system of the company in this
country and abroad. Like Mr.. Perkins of
, the New York Life he appeared to be the
one factor that built up the foreign bust
ness OF his company. His salary was
5000.
Mr. McCurdy had a typewriter state
, ment of his career, which he asked per-
compensations contracts and commissions.
There were a number of reductions I'm the
commissions, which he said were made at
> his own request owing TO the Unforeseen
success OF the foreign business. This for
eign business was inaugursted because Of
the success attained by the New York Life
and the Equitable society.
Mr.. McCurdy started this foreign business
In 1885 and assumed the ONCE of general
manager in 1903 at a salary OF 10000.
The most startling part OF Mr.. McCurdy's
testimony was made just before the recess
when he submitted a statement OF his
profits or the revenue from his contrac cts
on the foreign business. From 1886 To 1902
while he was member OF the firm of c.
$ H. Raymond & Co., the Metropolitan
: agents OF the Mutual Life Insurance Com
e pany, his profits were S209193 Under his
: contract with the firm he paid one-haIf or
1888,
when he left the firm. down to August 81,
= 1905, his commissions were 81 ,O59 267. making
;, a total personal revenue from the foreign
o business from 1856 TO 1906 Of si.is3S2s.
g Half Million More.
o During the period of his connection with
; the firm Of c. H. Raymond Co. Mr..
McCurdy according TO his own testimony
was receiving his own share on the profits
OF the Mutual Life Insurance company
written Ivy his firm as the metropolitan
= agents. This sum Mr. McCurdy was un-
able TO give estimate on, and later in the
day when Mr. Raymond was called II was
brought out that these profits to Mr. Nc
Curdy amounted TO S54i .s52 net or after his
n share OF the expenses OF the FIRMS profits
y had been deducted. This made a total OF
n t17O05.6Si that Mr.. McCurdy received in
e commissions. In 1893 when Mr. McCurdy
n retired from the firm of c. H. Raymond
a Co. he was succeeded BY Louis A
d Thebaud a son-in-law OF President Richard
u A. Mecurdy Of the Mutual Life Insurance.
l. company. He was practically under the
: same contract as Robert McCurdy and
= from 1888 down 20 1894 he received IN com.
-IcOniiaasd On ElttA PAgal =