New-York tribune., 1905-11-10
sTen months

This put Mr.. Hegeman well within the million
class of presidents. For the first four years the
figures shown include commissions.
Mr.. Hegemans declaration fixing his value at
$4,000 was called out by the fact that the list
submitted showed his salary for the current
year as 100000. Asked about this. Mr.. Hege-
man replied:
well you see, I have this sum- and then I
haven't" He then explained that his board had
generously made this increase last year This
increase, he explained. followed a consultation
with the finance committee. In this conference
the members of the committee had told the
president his services could not be overpaid.
He took a different view. Without hesitation,
SO he testified. he told them that the 100000 he
was receiving satisfied and gratified" him. Then
they deliberately ignored his desires and raised
the salary to 100000.
"I have not drawn ii, and don't propose to"
Mr.. Hegenan told the astonished committee.
In the course of the explanation about his
salary Mr. Hegeman drew a gloomy picture Of
the hard-worked life insurance president. His
testimony showed his hours of labor to be
beyond anything that unions would approve
He worked from ten TO sixteen hours; he crossed
the ferry at Z O'Clock in the morning he fire.
ouentiy did not recross until midnight-fre-
ouently he was even later. His first and second
vacations were separated by twenty-one years
He had enjoyed only six in thirty-five years
These explanations Mr.. Hegeman made under
peotest
II hold in contempt the perpendicular first
person pronoun IT, he picturesQuely explained.
MIR. Hegeman's explanation further included
detailed Statement of the growth and develop
n1snt of his company. To the attack of pros
perity which it had suffered Mr.. Hegeman as
cribed his increase I'm salary. This prosperity
~l,as-
average remuneration seemed TO be about SILICA
a week in the industrial department, without
any expense allowance. Even the assistant
superintendents got only from SIS TO $50.
INDUSTRIAL POLICIES.
An interesting point. brought out in the testi-
mony of both Mr. Hegeman and James NJ.
Craig. the Metropolitan actuary, was that
METROPOLITAN industrial policies have
render value in most States. This is covered by
a clause in the policy signed by the person ac-
ceptipg the insurance. But in Missouri the
courts having held this signing away OF rights
10 be against public policy, the insured is able
70 collect a surrender value. Still another stril-
ing point was that in adult insurance q lapse
after five years premiums have been paid en-
stiles The holder TO a paid-up policy for the
amount of The premiums paid But TO enjoy
This benefit the man insured must die within the
psrioa allotted by the mortality experience of
the Metropolitan. II he declines and persists
IN living or. then mis- heirs at his ultimate dis-
solution get nothing.
The coming of Mr.. MuIlaney. the custodian
Of tie Albany House Of Mirth," drew a con-
siderable crowd but Mr.. Mullaaey failed 10
qualify a star witness. He admitted that
ne lived at Nc. 6i6 Madison-ave in Albany.
and had iiEed there for the last four years. but
that he had been ,employed by Fields for the
last fifteen years- lie said lie had taken charge
os successive >fiousog Of M;rth" for ten years.
EsesGs ne tesuned he lad seen in Albany TWO
months ago. and since then he had neither
seen nor hssfa about him. The money for his
household cSEsisas n sai6 came from Mr..
Fields ard NJ Gsrte9.er. The latter the VII
nsss who Supplied :ise main facts about the
Albany establishment.
sr. Hughes fasn turnsd his attention 10 a
long list OF vouchers signed by AR Muilaney
and paid by the Autuel They covered q period
.rorl 1900 10 date and were mostly for periods