Arizona republican., 1905-09-30
They Game High But There
 Was Need of Them
10 WATCH LEGISLATION
Another Sensational Session of the Insurance Investigation Committee Throws the LimeIisht on Two More Fields of Protective Industry.


 tigatfon adjourned today until next Wednesday it concluded a week in which greater progress had been made than in any week since the investiga- tion was begun. The testimony of witnesses that have been called dur ing the week has been replete with sensations, and that taken today was no exception to the rule.
 It was during the afternO Oon session today, when Alfred w. Maine, an as sociate auditor of the Equitable Life Assurance Society. was called to the stand, that it was disclosed that the Equitable Life the Mutual Life and the New York Life insurance compa- nies had formed a pool to look after legislation before the various state legislatures. Andrew H. Hamilton, to whom President Mccall of the New York Life paid several checks. the purpose of which the counsel for the committee, MT. Hughes. has not yet brought to light was one of the chief members of the legal staff for tLese companies and was employed and re- ceived money for services from the Equitable. MT. Maine told of the divi- sion of the country to be looked after by MT. Hamilton. in conjunction with E. l.. Short and I1. M. Thummen. Wit ness presented vouchers for moneys paid by him for his company to Mir Hamilton and these showed that in eight years from 1895 to 1904. the sum of S65,596 was paid to MT. Hamilton for legal services. MT. Maine could not give any details of the duties per formed by Hamilton nor of the com mittees he appeared before. beyond the fact that MT. Hamilton looked after legislative matters for all three com panies in the states west of Ohio.
 Witness told of the agreement whereby special counsel was employ ed by one company in its territory and the expense was shared by all. He was asked if campaign contributions came under his observation. and he replied that they did not. He never heard of money being paid to influence legislators. He was excused, but will be called again to submit transcripts of accounts giving information he was unable to supply.
 He was followed in the afternoon session by Edward I. DevIin. the real estate manager of the New York Life for United States and Canada Mir Devlin was called to testify as to the cost of the building in Paris He had only transcripts of the reports of this department made to the home office. but it was brought out that the Paris building was carried on the books of the company at a valuation of s1,1O2- GOA, whereas, with the original cost and Improvements on the building, ac- tual money to the amount of s2.533. .1O4 was paid. over $1.OO0, 900 being charg- ed off valuation on the books of the company. Mir Devlin said the net in +r Life was one and one-half per cent on the actual amount invested in the building or between three and three and a half per cent on the amount at which the building was carried on the books of the company. MT. Devlin was on the stand when adjournment was taken, but he will be called again to submit transcripts of the records to supply further information.
 Not the least important development of the day was the appearance on the stand of Jacob H. Schiff, head of the banking firm of Kuhn, Loeb and com pany. MT Schiff was the first wit ness of the day, and he remained on the stand until o'clock. Mir Schiff mad been waiting in the committees session chamber for a day and half being under subpoena, and when the
 
 Schiff desired to proceed, as he had an engagement for the afternoon.
 Mir. Hughes explained the situation to the committee, and it was agreed to continue until MT. Schiff had conclud- ed his testimony. Most of the time MT. Schiff reclined leisureIy in the chair on the witness stand but as one point after another was brought out he grew excited and vigorously defended his at titude while a director of the Equitable society and claimed his firm had act ed in a conscientious manner in all it's dealings with the society. At the con- clusion of his testimony and before the committee could adjourn, MT. Schiff asked to be allowed to make a state ment. He was permitted and he step ped briskly forward on the platform toward a small table and made an inn passioned attack on the state superin- tendent of insurance and statements he had made concerning Kuhn, Loeb and company during the investigation of the Equitable. MT. Schiff emphasized his remarks with rappings on the table and frequently he raised his voice un- til it was almost a shout.
 During his testimony, too, MT. Schiff made the charge that the minutes of the finance committee regarding a cer- tain meeting were false. He later qualified this however. by saying if the under consideration, one in Union Pacific preferred, was actually made, he did not hear it though he was present at the meeting.
 Again during his testimony regarding the power of the finance committee of the Equitable society. MT. Schiff waxed warm in his explanation and said that the entire committee was at the mercy of one man. "It was all Hyde" said Schiff; "all Hyde and Alexander Hyde wrote the messages regarding the of fers made by my firm for participation in syndicates; MT. Hyde signed all re- ceipts; MT. Hyde wrote all letters''
 In the matter of the James H. Hyde