The daily morning journal and courier., 1905-10-20
NOTHING WILL DRIVE
 M'CURDY FROM OFFICE
MAKES STATEMENT THAT HE HAS NO INTENTION OF
 ASSIGNING.

Elected to Serve as Head. of Mutual
 Life Until Next June and Proposes to
 Do SO-District Attorneys Office An-
 nOunces That It Win Take No Fur | ther Action in the PIunkett Case
 Young McCurdy Explains Some
 Charges for Travelling Expenses.
 New York;, Oct. 19.-Richard A. Mo l Curdy, president of the Mutual Life In surance company, made the statement 1 to-day that he had no intention of re- signing, that he was elected to serve until June, 1906, and that nothing can or will drive him out.
 | It was also announced from the dis trict attorneys office that no action will be taken regarding the George J. l Plunkitt matter that was turned over to the district attorney yesterday by | the legislative committe that is in vestigating the insurance companes,
 Closing one of the most sensational and strenuous weeks of the insurance | investigation, the committee just bfeore adjournment to-day concluded the ex- aminataion of Richard A. McCurdy, with the exception of few details he is to supply. next week. l MT. McCurdy has been on the stand for the greater part of the three days of this weeks session, and some of bis testimony has beeii the most startling of any that has been adduced before the committee. His testimony to-day, however, was very much of technical nature, though it was of much value l to the committee in its work. When he resumed the stand this morning it was to- take up his testimony as to the Mutual Life's connection with trust companies that was interrupted | by adjournment yesterday. The infor- mation furnished by MT. McCurdy dis closed that the trust companies with which the Mutual Life was connected became very prosperous soon after they were taken up by the Mutual Life Two cases in point were the Morristown Trust company, at Morristown, N. J., where the McCurdy family live, and the United States Mortgage and Trust company. The former is now controlled by the Mutual Life and McMcCurdy 1 testified that besides being director of this trust company he is a large stock holder and would take more stock if he could get it. ,zssss ,.. ..-..s> -. ... The Mutual Life keeps a balance of not less than $200,00o with this com pany, on which it draws from ? to 8 per cent. The latter rate has been paid only since September 1. MT. McCurdy did not know the holdings of the other members of his family in this company.
 In the syndicate operations MT. Mo Curdy said he participated not with the idea of drawing bonds, but to ob- tain his share of the commission allow ed by bankers.
 MT. MeCurdy was asked what life in- surance he carried, and he was unable to say at once, but James M. Beck, his counsel, presented a statement show ing when the policies were taken out, for what amounts, and the plan. These aggregated $20O000, all in the Mutual. MT. McCurdy testified that he was also insured in the Equitable, the Wash ington, and the Connecticut Mutual.
 Before he left the stand MT. McCurdy said he paid $4,5OO for his apartment in the Grosvenor building, which is own- 
 ed by the Mutual
 When McCurdy was excused his son, Robert H. McCurdy, was called to ex- plain some charges for travelling ex- penses in 1904. He said one of his du- ties as general manager was to visit the agencies about the country. Three such trips were made, the expense of which aggregated about $9,60O.
 Mr.. McCurdy said that while on one l trip he was accompanied by his fla ther, mother, wife and the latter's maid but that the. expense accounts were for himself individually, and did not in clude those of any other member of his family or party. He had a private car on one of these trips. He could not tell why the expenses on these trips were so large but said he would furnish the details later.
 MT. McCurdy was followed by W. W. Richards, comptroller of the Mutual, who was explaining the manner in which the Mutual acquired some prop critics by foreclosure, when the commit. tee adjourned until next Tuesday.