New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-07

man from town in New-Nork STATE cahe
down with four proxies of pohcyhoiders' ana
he wished to them. He did SO; out ne
voted for the regular ticket The witness SAID
that thousands of policyholders' proxies made
ont in the names of himself and President Nc
Curdy. were kept in the company's Offices
How many have you?" was asked.
"I should say that we certainly have as many
as 10000"
Mr. Granniss said that the signing of proxy
xas entirely optional with each poliGyhoider.
,-ho ar the time Of taking out the policy, would
s,e-n or not as he might prefer. Revoked proxies
were always taken out OF the stack Of valid
,nas Ordinarily a proxy would continue for ten
years.
"pow many policyholders are entitled to vote de
that is holders of policies for more than Si''0'
each?" 49,.
The witness could not answer this onhano' ou'
after asking assistance from the connpa ano
actuarv. he said that between 45oeoo ano ''V'-
600 had the right to vote, out OF 'he
total of 65,a0o0 policyholderr
Asked what We're the salaries or the oiiioei o
Mr.. Grannis said he could not testify except as
to his own which was Sooooo d Sedl now ~
$4,000 four or five years ago
He agreed to produce a list of salaries paid by
the company within the last twenty-eight ge"i' o
Mr. Hughes asked If the Mutual would ailo"
policyholder on request, to look at the nst OF ms
fellow policyholders. with view OF c'ii''ui
eating with them concerning an election
Mr. crannis said he was not prepared to say.
s.No such demand was ever MADE SO idl DIS
,,auy" ne said. Mr. Grannis said that each
coming election was announced IN aoEei.i'e
,,an+s IN several New-York newspapers Policy
holders could appear and vote, II they cliose'
notices of the elections had been puphsheo III
he
,,r,nted IN a paper issued by the company. 1hi'
rener however had not been distributed alilohs
all the poiicyholders but only to such as agents
in different parts of the country might select
He said Robert H McCurdy. the company
general manager, was the presidents son.
walter G. Oakman said he had seen men come
In and cast their votes, but he made no inquiries
about their qualifications They were evidently
men known TO the Mutuafs officers, as III eacIi
case some officer would identify them as holders
of policies for more than $1,000. A poll list Of
those who voted, he added. had been prepared
and he. as an inspector. had signed it. copy
OF these lists at Mr.. Hughess request was TO
be produced later.
Senator Armstrong refused Mr. Beck" request
for a regular examination of Mr. OAK
man.
John c. Mccall testified that he came to work
for his fathers corporation in 1885, He began to
attend to his duties on the day after his grad
uation from Harvard. His position was that OF
secretary of the agency clubs He first re-
ceived Sc. 500 year. Later he received S3,6oo a
year He became assistant secretary in 1901 at
$4,000 year. His salary was raised to $4,000
year in 1908 In 1904 he became full secre-
tary, at S14, 000 his present salary. In his an
swers to questions about the co.npanys past he
showed that he was familiar with Its history
charter and present status.
Mr.. Mccall said that notices Of the New York
Life's annual elections We're printed in certain
newspapers For the last nine months such an
nouncements had been placed on the jackets or
envelopes, containing policies. Never. he said,
had the company mailed TO policyholders invi-
tations to vote
About $4,000 proxies of policyholders he said,
We're held in the companys offices made out in
the of the president and vice-presidents.
In each year since 1895 six trustees had been
elected, and the votes cast at each election were
as follows: 1895, 215; 1896 146; 1897, 6S5; 1898,
126; 1899 IL; 1900. 1Se; I9o Dol 235 1902. 319;
In each instance all the votes cast were for the
regular ticket There explanation TO
why the number of votes had increased so no.
ticeably this year. A list of all the proxies ever
held by the company's officers furnished by
Mr. Mccall. who said the number since 1895 had
been about 111.o00. He estimated that only
$1,000 Of the papers were still valid.
Mr. Cumming examined to the Mutual
LIES regular process of election. Asked what
protection existed against false claims, Mr.. Cum
ming said that in all cases he accepted the state
ments of the voters, and that the officers did
not interfere with the election. Mr.. Hughes
asked of the company classification of its
voters the list into employees of the Mutual
Guarantee Trust Company and the United
States Mortgage and Trust Company, with
statement to their positions.
Mr.. Call. on being recalled, said he had never
known of policyholder in the company ask
ing TO see list of the policyhoders. John A.
McCalrs salary, he said, was 100000.
NETWORK LEE SALARIES.
The salaries of the three first vice-presidents
of the New York Life We're given $4,000.
$4,000 and $4,000; of the three second vice
presidents as $4,000. 900 and $4,000 re-
spectively: of the secretary $4,000. Mr..
Hughes asked for statement TO be submit
ted showing the yearly salaries of all the Off
GERS since 1877 and Mr.. Mccall agreed to do so.
He said the minutes of the finance committee
were preserved in Mr.. Perkins's downtown Of
fee.
Mr. Rhodes deposed that the directors of the
Mutual Benefit Life were elected for four years.
and the nominations are always made by the
board of directors. These men were always
elected. Notice put in the NeW-Jersey
papers he said, not in those of New-Y York. Pol
tcyholders of $4,000 got one vote. holders of pol
fcies between $4,000 and $4,000 got two votes.
and OF policies $4,000 three votes. Voting
was done by proxy or personally, proxies run
ming TO the president and officers of the COM
pany. not to them in their own names, but only
as officers.
Mr.. Rhodes said there 49, 900 policy
holders in the company.
Q-Have you a list of policyholders accessibls
to your policyholders? Ave have never had such
request. II any asked to inspect the list our
answer would depend on what they wanted to do
for.
refuse the right TO inspect If we thought it was
asked for any reason prejudicial TO US. If agents
OF another company asked the right to inspect
lists we would refuse.
MR.. FISKE TEsTIFIES.
Haley Ffske then took the stand
He hat he Of os