The Ladysmith news and Ingram news. [volume] (Ladysmith, Wis.) 1905-1906, 1905-10-28
STORY THAT M'CURDY MADE
FAVORABLE IMPRESSION
COST So A LINE.
TELLS ABOUT hcALL LOAN
PRESIDENT HEGEMAN SPEAKS
STRONGLY OF FRIENDSHIP
FOR M'CALL.

New York. Oct 26.-At the session
yesterday of the legislative commit
tee investigating the insurance compa-
surance company We're under consld-
GRAFTON and it was brought out that
this company was paving for the dis
semination throughout the country OF
reports of this investigation that were
favorable to the company. Charles j.
Smith, a newspaper man, was the wit
ness He is employed by the Mutual
Life Insurance company to do great
many things, but month ago was
placed in charge of sending out these
reports. Mr.. Smith had issued q num-
Der of vouchers for the payment OF
this work, and these aggregated SILL
900. with more bills to come in. He
thought the amount to date would
reach $4,000
Pays for the Service.
Mr.. Smith wrote these reports and
submitted them to Allan Forman, who
owns the Geographic news bureau, and
81 line was paid by the Mutual Life
for for service. Clippings from yarl-
Gus papers about the country were
shown to the witness and identified as
the dispatches he wrote and sent to
Mr.. Fornlan These were sent to
about 100 papers, but Mr.. Smith did
not know whether the papers We're
paid for inserting them. In one dis
patch Mr. Smith wrote that Mr.. Nc
Curdys attitude on the stand made q
distinctly favorable impression, and for
this he had paid 81 line. This he said
was worth it.
Following Mr.. Smith. Walter Su1li-
van, who has charge of the magazine
advertising department, was called He
said the Mutual advertised in twelve
magazines last year at a cost of ,S42,-
600 Advertising in insurance papers
cost about 100000 more. but
He Could Not Tell
where the remainder of the account of
1929, 1877. the amount charged up to adj
yertising last year, was spent.
Earlier in the day Emory McClin-
took, the actuary of the Mutual Life,
gave his explanation of technical in
surance Mr. McClintock practically
advocated no laws for the insurance
companies except a certain superVis-
ion to give the reports publicity. He
thought the public could take care of
themselves, and that publicity was the
best law.
John H. Hegeman, president OF the
Metropolitan Life Insurance company
was examined, and when the adjourn
ment was taken his testimony was I'M
finished.
Heqeman Is Interesting.
While lacking the startling features
of the testimony Of some other life in
surance presidents who have testified
Mr.. Hegeman's remarks and explana-
tions We're none the less interesting,
especially his statement that $4,000
was given to the industrial policyhold-
ers of his company last year without
any obligation whatever. Mr.. Hegeman
further said that in eight years his
company had voluntarily given to the
policyholders s8,00O,000. This was in
extended insurance, mortuary diyi-
dends and liberalized policies during
epidemics, foods and fires.
Tells About McCaiI Loan.
The large loan at such rate of in
terest as / 1-2 per cent especially the
one to President John A. Mccall Of the
New York Life Insurance company
were taken up and Mr.. Hegeman spoke
strongly of his friendship for Mr.. Nc
Call who, he said had rendered him
valuable service that was of benefit to
the company, and, personally, he
thought the company could afford, and
would have been justified in paying
MIR. Mccall the few hundreds Of dol
lars the loans amounted to. The same
was true, he said, Of Silas B. butcher,
a director Of the company, who also
carried large loans with the company
at low interest