The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-05
-Fourths of Pro
posed Legislation is
For EXtOltiOn,
.CANCELLEDSCHECKS
I. CANNOT BE FOUND
Those Of Judge Hamilton Arc
Missing Loans On Easy
Terms From the Insur-
ance Companies
McCall's Relatives
Are Housed.
(By Associated Prcss.)

(By Associated Press.) # .E
y NEW YORK, October 4,-That John IL.
uegcmun president of the Metropolitan.
Life Insurance Company, borrowed $4,000
from the New York Life insurance Com
many at 1H pet cent. Interest, a rate
below the market rate, wha brought out
in the insurance investigation last week;
: but to-day President John A. Mccall, OF
the New York Life Insurance Company,
testified that he in turn borrowed $4,000
from the Metropolitan at the same rate.
This was in January. 1903; the loan
was renewed In January 1904, and ran
until March, 1906. when the rate Of In
terest was advanced to 9 per cent. at
which rate It Is still running. Mr.. Nc
4 Call testified that he was q director OF
the Metropolitan life Insurance Com
pnny, but not n stockholdcr. The fact OF
lis being director, Mr.. Mccall con-
tinued, did not deter him from procuring
q loan at az low a rate OF interest as
possible when 1t was possible to do so.
Cancelled Checks Lost.
Somewhat of a sensation was caused
IN the late hours of to-day's session OF
the legislative committee which Is In
vestigating the methods Of life insurance.
companies when Neil Il. 5Towner OF Al
bany, was called to the stand and dis
4 claimed any knowledge Of the where
nbouts of cancelled checks OF Judge An
drew Hamilton. OF Albany.
Mr.. Towncr testified that the checks
had disappeared from a drawer in Ham
iltons desk.
Mr.. Mccall rcsumIng, was asked
about a deposit to the credit OF Judge
Hamilton of s162,041, on September /.
1906. Mr.. Mccall said the New York Life
Insurance Company had paid Mr.. Hamil-l
ton no money, but suggested that part Of
It might have come from tho State Con-
trocr's office. by reason Of an assign
4 1nent OF tax moneys which wouA come to
the judge by reason Of his securing the
p repeal OF the tax law, which relieved the
New York Life from payment ofsataxes.5
Judge Hamilton was to have one-third
lS OF the amount that would rebate to the
company, sum OF s272,0oo. netting Mr.,
Hamilton about 100000.
Housed His Relations.
Another interesting point was brought
out by Mr.. Hughes just before the com
1nlttce adjourned for the day. Edward
i. Devlln. the real estate manager for
the New York Life Insurance Company,
testified that the New York Life had ac-.
auired by foreclosure an apartment house
in one Of the most desirable residential
sections OF this city, and the cost, with
the improvements deemed necessary, was
$203s056 The net income from this prop
erty was found to b.. .o23 per cent. on the
investment. Among the improvements
was the throwing of two apartments into
one Of nine rooms, with two baths These
We're rented for $1,000 and s1.S0O n year.
1t then developed that four OF the
tenants were the immediate family of Pres
ident Mccall. three sons and son in
law. Mr.. Devin was asked who fixed
the rental of these properties and he
said he discussed the matter with Mr..
Mccall. Mr.. Mccall enl!vcned the days
proceedings further when he said that
there was no record on the books Of
The New York Life Insurance Company
of the $4,000 paid the Republican Ma
t!onal Committee fol- contributions to the
presidential campaign While he had no
personal knowledge that the money was
paid, he assumed it was, because he had
told the treasurer to make these pay
I, ments. I
Earlier In the day Mr.. Mccall in detail
ing the general Legislation work Of Judge
Hamilton and the counsel he employed,
denied any knowledge of the Legislative
pool which was disclosed In tho exami-
nation Of Alfred W. Maine, auditor Of
the Equitable Life Assurance Society last
s week.
Mr.. Mccall on this question made the
startling assertion that three-quarters OF
the bills affecting life Insurance COM
panes were In the nature OF blackmal
The officers of the companies were wor-
rled at the beginning of each year, he
said, by the proposal of laws that would
hamper their companies and these ofil-
GERS really trembled at what they would
have to endure the first six months Of
each year.
His Memory Not Good.
President Mccall said he did not re-
member the making of atfldavts by the
officers OF the New, York Life Insur-
ance Company to tho Governor OF Texas,
in which the officers were alleged to
have declared that no campaign contrl-
buttons We're made by the New YORK
Life Insurance Company In 1895, lie
said that representative Of Governor
Culberson called to see tho books OF the
company, but that he did not show him
any books containing the entry about Inc
contributions, but turned him over to
legal representative of the company. VINO
knew nothing about the contributions,
President Mccall testified that the New
York Life eXnenses for legal services
from June ], 1900, to August 81, 1905, were
sl103,99O. OF this amount Mr.. Mnf'oll
said Andrew Hamilton received $i760sl,
In States where Mr.. Hamilton looked
. after legislation, Mr.. Mccall said he was
eXnected to deal with the man who
could produce the results.
Rufus Wellesweeks, actuary and second
ylce-pres'dent OF the New York Life
Insurance Company, was another wit
ness to-day. Tie went into the technical
description Of the various forms of poll
oles, the tables upon whch the cost of
life Insurance is computed, and the va
rious other computations of the depart-
ment,
The tomu>ittce adjourned hntll to-
morrow, with Mr.. Deylin still explaining
tho real estate holdings of the company,