The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-05
MINNESOTA UNDER
THE MUTUAL LIFE


7 New York, Oct. 5.-W. F. Thummel,
egal counsel for the Mutual Life In |
,urance company Of New York, testi-
led before the legislative investigating !
committee today that he had received +
g, 500 from Vice President Robert A. |
,onally to the chairman Of the repub-
ican congressional committee
Mr.. Thummel said the contribution
had been suggested by the :" danger
Of democratic house that would result
in tariff and other legislation of such a
affect policyholders.'
Z Other companies, Mr.. Thummel said,
had been asked to contribute, but he
did not know whether they did or not.
Looks After Legislation.
Mr.. >Thummel received salary of
1900 and looks after taxes and legis-
lation for this company thruout the
United States. -
Mr.. Thummel said he had received
money, from the New York Life in adj
justment of expenses. The last time
he received money in this way was
a little over year ago. r ~
He said Mr.. Mccall was mistaken in
his testimony yesterday that he paid
money to the witness for work in en-
deavoring to secure federal supervision.
Mr.. Thummel said he had talk with
Mr.. Mccall on that matter and asked
him if his company would contribute
to such a cause. Mr.. Mccall said it
would, but witness was paid no money.
The Boss Lobbyist.
Mr.. Thummel testified that Vice
President Robert A. Granniss Of the
Mutual was the executive officer who
had supervision over the legislative
work. He said he believed that in
1904 the Mutual Life paid out for this
work probably $4,000.
Answering Mr.. Hughes, he said that
he travelled about the country and kept
track of legislative measures affecting
insurance. When asked just what he
did to defeat strike measures, Or IN
desirable legislation, he said he tried to
keep in touch with the persons inter
ested. He became acquainted with as
mittees as possible, and presented such
arguments as he could. He kept nc
account Of disbursements.
Not Magnetic Enough.
He told Of his inability to defeat a
general revenue bill in Nebraska and
when Mr.. Hughes asked if his argument
was not persuasive enough, said he was
not magnetic enough to win out
against the railroads who had comb
nation against the life insurance com
panies.
"You were dealing with intelligent
men, were you not?' asked Mr.. Hughes
IT was dealing with legislators,'
witness replied.
How They Divided Work.
In reply to a question as to the divi
sion of legal expenses among the New
York Life, the Mutual Life and the
| Equitabl Life, Mr.. Thummel said:
"The Mutual Life has Virginia
North Carolina, Alabama, Kentucky
Ohio, Michigan, Minnesota, Washing
ton, Oregon, New Mexico. The Equit
able attends to Maryland, South Caro-
lima, Georgia, Louisiana, Mississippi
Texas, Colorado, Arkansas, CaliforntS
Nevada. The New York Life had In
diana, Illinois, Wisconsin, Iowa, Kan
The eo rest Of the territory is open
ness said he had never authorized tn,
payment Of money Of the Mutual Life
| nected with legislature for the in
fuencing Of such legislation.
Young McCurdy's Graft.
| Robert H. McCurdy, general manage
Of the Mutual Life, son Of the presi
said his power is delegated to him b,
the president and vice president. III
has direction and supervision of agent
in this country and abroad. His salar,
I is 100000 year. Under an old con
! tract he collects renewal premiums o.
foreign business, but beyond this b
/. received no moneys. He had a copy o
! contracts covering his career with tn
i Mutual Life.
Payments amounting to $1,059, 20
in commissions were made to Robert IS
McCurdy by the Mutual Life during tn
4 wears 1893 to 1905. Mr.. McCurdy wa
superintendent Of the company's fol
q eign department. and received a con
mission on all foreign business. iii
rate of commission was reduced se1
eral times at his own request, bu
despite the reduced rate his 'compenss
!: tion grew until it amounted to 500, Is
for the year 1902 alone.
New York Life Buildings.
Edward Devlin, the real-estate mai
that an apartment house at Park av
nue. and Sixty-second street cost tt
New York Life $1,009,8S6 and is ca
ried on the company's books at $45l
! 900. The loss, he said, was due to Il
administration preceding Mr.. Mccall
The office building in Kansas Cit
cost $1,9S1,761. 1t is carried on t.
: books at $1,2O0,O0O and it's net incon
: is $69,002, or 3.06 per cent return
the investment. The company charg
] itself with 1892 rental for six office
The Omaha building cost $1,246,6
! and is carried on the. books at 500
600 and pays a return of little und
3 per cent. The company's rental
$1,000. The net income is $34,8O3. 4
. these figures are for 1904.
The Minneapolis Building.
!. The building at Minneapolis &C
. $1,02S,752 and pays a return of 2
): per cent. The net income is $25, $3.50.
3 In st. Paul the building. cost 1922
8 40, and has net income of 1922 or
!: little less than / per cent.
. The Montreal building cost 1913, 81
!. is carried at $35O,OOO, and has n
I. income Of 1922, or about l " per ce
. on the actual cost.
81 Mr. Devlin said that in 1893 the re
s estate Of the New York Life return