The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1905-11-16
NERVIEsT DEAL OF
THE entire LOT
President Regeman of Metro
poiItan Life Makes a Re-
markabIe Admission.
REBATE ON INTEREST
lorainally Paid Banking Firm AZ Per
Cent. Interest and Received Re
bates Of 8 Per Cent. in Per-
aonai Checks.

New York, Nov. 15.-Jofm a. Mccall,
president OF the New York Life Insur-
ance company, was called by the COM
mittee of investigation of insurance
companies and peremptorily ordered by
the committee to demand the return
from Europe to this country of Andrew
Hamilton, the lawyer who has charge
of the legislative matters of the New
York Life company. Mr.. Mccall was
further ordered to demand an account
ing from Hamilton of the moneys eX-
pended by him and of the balance
which he owes the New York Life.
Mr.. Mccall denied that it was the
policy of his company to have Mr.. Ham
ilton remain abroad until this investi-
cation had been concluded, and said
that on the contrary he would like to,
have Mr.. Hamilton return. !
Mr.. Mccall, replying to Mr.. Hughes,
counsel for the committee, said he had
called The attention of the board of
trustees Of the company to his testi-,,
mony relative to Hamilton, and gave
Mr.. Hughes a copy of his statement,
which said that if Hamilton did not re-
s235, 900 by December IS he would him-l
self pay it to the company.
Mr.. Mccall said Mr.. Hamilton was
either in Paris Or Nauheinl.
Another Interesting line of examina-
ton was opened up just before the ad-
JOuiililISlit loI Tie udS, Wilcll JOilll NC
Guinness, an employee of the Equitable
Life, was called. He produced letters,
books and memoranda, one of which
Mr.. Hughes read, and was in the midst
of reading another When adjournment
was taken. These were instructions of
former Comptroller Thomas d. Jor-
dan, of the Equitable Life, to A. G.
Fields, relative to the killing or assist
ing the passage Of every bill introduced
into the Legislature that would affect
the interests of the insurance
or any Of its officers.
This line of examination will be fol-
lowed out When the sessions are re-
stunned today.
New York. Nov. 13.--John r. Hege-
man, president of the Metropolitan Life
Insurance company, was on the wit
ness stand again today before the in-i
suranca investigating committee. He
presented a statement of rebates paid.
to him on interest on loans on his per-,
n account.
The statement show that Hegemani
paid Vermilyo & Co, bankers, interest
at the rate of AZ per cent, and re
ceived in personal checks of various in
dividuals of the firm, at different times,
a rebate of this interest at the rate of
3 per cent.
New York Life Must Disqorge.
John A. Mccall, president of the New
York Life Insurance company, was
called before the insurance Investigate
ing committee today and ordered by
the committee to demand the return
to this country of Andrew Hamilton
and account for moneys which Hamil-
ton has expended and for which the
New York Life holds no vouchers be-
yond the personal receipts.
Hamilton is believed to be in Eu-
rope.
Mccall said that if Hamilton does
not repay the company before Decem-
Der Is the sum of $685. 900 which Ham
ilton received from the company and
has not accounted for. he, Mccall, will
pay the amount himself to the New
York Life before December 80.
Loaned Money Too Cheap.
It was shown that the Metropolitan
Life made loans of $1,000 to 5000, 900
at one-half of l. per cent. interest to
William Readc, of the firm of Yer
milye * Co, on various dates in 1901
to 1903. The market rate for call loans
was at the time from Az to 5 per cent.
Nermilye & Co. We're the bankers
Of the metropolitan at that time, and
when Mr.. Reade resigned from Yer
milye & Co. and went into business
for himself he became the company's
banker. Mr.. Hegeman'S explanation
for making these loans below the mar
kct rate was that as valuable services
had been rendered the it
sought to repay favors where it could.
Mr.. Hegeman said that through the
watchfulness Of Vermilye & Co. the
Metropolitan Life Insurance
had now $3,000,00 OF $4,000 900 that
could be burned without impairing the
solvency of the company.
On bonds and stocks the Metropoli-
tan had cleared, according to Mr..
Hegeman, about ST. zoe. 900, and on
syndicates into which Vcrmilye & Co.
instructed the company to participate
the COMPANY has made about $3.50. 900.