Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1905-10-05
FREE RENT
/ F0R FAMILY
&. Of M'CALL
Sons Occupied Flats Owned
by New York Life.
MEANWHILE INVEST MENT EARNED
ONE.HALF OF ONE PER CENT
Startling Revelations Follow In Quick
Succession on Return of The
Man With a Conscience
to The Stand.

New oIk, OCt. e. mat JOnn II.
Heggeman, president of the Metropoli-
tan Life Insurance company, borrowed
$50 900 from the New York Life In
sure company at one and one-half per
cent interest, a rate below the market
rate, was brought out in the insurance
investigation last week but President
John a. Mccall of the New York Life.
testified that he in turn had borrowed
$4,000 from the Metropolitan at the
same rate. This was in January t903:'
the loan was renewed IN January.
1904, and ran until March, 1905, when
the rate of interest was advanced to
2 per cent. at which rate 1t is still
running.
Mccall testified that he was direc-
tor of the Metropolitan Life Insurance
company but not a stockholder. The
fact Of his being a director. Mccall
continued, did not deter him from
procuring a loan at as low rate OF
interest as possible when II was to his
interest to do so.
Hamilton Checks Disappear.
Somewhat of a sensation was caused
the legislative committee, which Is In
yestigatng the methods of the life in
'uranco companies, when N, f. Town
er of Albany was called to the stand
and disclaimed any knowledge of the
whereabouts of the cancelled checks
OF John Andrew Hamilton, of Albany.
rowner testified that he was associat-
I'd with Judge Hamilton In the prac-
tice OF law In Albany The Hamilton
account was again under investigation
md Mr. Mccall had been excused for
a few minutes while Mr.. Towner took
the stand.
Towasr testiffe 4 thai he a0adr de-s
ppshs for judge Hanniltan, hut not
while the latter was IN Europe. He
had taken some cancelled checks from
the Albany Trust company early IN
september aud had thrown them INTO
4 drawer In Judge Hamiltorfs desk.
He had had no occasion to look at
them again until last week. when he
received the subpoena to appear be-
fore the committee. lie was asked 70
bring these checks with him, but when
he looked for them they were gone.
He had no knowledge. he declared. OF
where they could have gone. or who
could have taken them. Pressed by
Mr.. Hughes, he said almost anybody
had access to the drawer in which
they were placed.
Mccall. resuming. was asked about
a deposit to the credit of Judge Ham
lton OF S162,O4i on September |,
1905.
Mr.. Mccall said the New York Life
Insurance company had paid Mr.
Hamilton no money. but suggested
that part OF Il might have come from
the state comprollers office by reason
OF an assignment of tax moneys which
would come TO the judge by reason OF
his securing the repeal of the tax law
which relieved the New York Life
from the payment of taxes. Judge
Hamilton szyas to have one-third of the
amount that would rebate to the COM
pany sum Of S272,000. netting Mr..
Hamilton about 100000.
Another interesting point was
brought out by Mr.. Hughes just be-
fore the committee adjourned for the
day. Edward Devlin. real Estate man
ager for the New York Life, was again
called To continue his testimony OF the
last week relative TO the real estate
values In his country and abroad.
Devlln had had to consult records and
he presented a number of transcripts
OF records.
II developed that the New York
Life had acquired by foreclosure an
apartment house In one of the most
desirable residential sections OF this
city, aud the cost. with Improvements
deemed necessary, was S203.0bb. The
net income from this property was
found to be .23 per cent on the In
vestment. Among the improments
was the throwing Of two apartments
into one Of nine rooms with two bats
These were rented for $1,000 Hd
81 500 a year.
II then developed that four Of the
tenants were the immediate family OF
President Mccall. three SONS and a
n-ln-law. Devlin was asked who
axed the rental of this property. and
ne said he discussed It with Mccall,
Mccall enlivened the days proceed
lngs further when he said that there
was no record on the books of the
New York Life Insurance company OF
Sl50.0O0 paid the republican national
committee for contributions for the
presidential campaigns. While he had
no personal knowledge that the mon
~ was paid, he assumed II was be-
cause he had told the treasurer to
make these payments.
Earlier In the day Mccall. In detaii-
ing the general legislation work ef
Judge Hamilton and the counsel he
employed. denied any knowledge OF
the legislative pool which was discios-
ed In the examination of Alfred W.
Maine. auditor OF the Equitable Life
Assurance society last week. Mccall
on this question made the startling as
sertlon that three-quartefs OF the nlllH
lanecting life insurance companies
were ~ the nature of hlackmail. eThe
officers Of the companies were worried
at the beginning OF each year" ne
said, by the proposal Of laws thal
would hamper these companies, and
these officers really tremhled at wl.Al
they would have 10 endure during the
FIRST six months of each year
while Hughes was engaged in look
ling up some documents Chairman
Armstrong took the opportunity ta
TASK Mccall II he had ever given ans
Thought AZ 70 the feasibility Of !
lslandard policy that should be writ.
ten by All compenles Mccall sald