The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-12-05
Lived in Mutual Insurance Company's
House at Albany
DIDN'T THINK 1T IMPROPER
Andrew Hamilton Located i'm Paris
Witness Retained I'm the Mutual Life
Insurance Company at a Salary of
So, 000-North Carolina Policy Hold
crs Contested Right of the Company
to Increase Assessments on Certain
Class OF Policies.

w" II n, AsNftCl1UCT LJ.-1uL sCS-
ignation of Richard A. McCurdy as
president of the Mutual Life Insurance
Company was the mos important de-
velOpmant of the life insurance s1tua-
ton today.
President McCnrdy's management of
the affairs OF the company has been
the subject Of inquiry by the legisla-
tive investigating committee which
brought out the fact that during his
presidency very large commissions
were paid to his son, Robert Fl. Nc
Curdy, and his son-in-law, Louis y
Thebaud. The outcome of the struy-
gle to secure control of the Mutual
Life Company IS awaited with inter
est.
Charles P. McClelland, a former state
senator from West Chester county,
testified before the committee today
that he lived III the Mutual Life In
surance Compapy's house in Albany.
conducted by Andrew C. Fields, in
1903, while he vas a senator and a
member of the insurance committee
of that body. He stated that it never
occurred TO hirl as improper, as he
and Fields were old friends. It was
shown that in several years while Mr.
McClelland was Tot a senator he was
retained by the Mutual Life Insur-
ance Company at $4,000 a year, and
Mr.. Hughes had much difficulty in o.
tanning d statement of what he Cid
to earn that retainer. He said he
appeared before legislative committees
to argue against the savings bank
taxes and franchise tax bills.
Mr.. McClelland had just stated that
he was never employed by the Equit-
able Life Assurance Society, when MIR.
Hughes showed him a voucher for
$4,000 paid by that society to the firm
of which Mr.. McClelland is a member.
IT. was written in his handwriting but
Mr.. McClelland said he could not re-
member it. 1t was credited to a wa
ter company account as were also 9th
ar vouchers paid by the Equitable SO
ciety to William N. Johnson anc.
Charles T. Lewis, amounting to $3.50.
TOhn G. Mccall, son of the presi-
dent Of the New York Life Insura Ace
Company, told the committee toda.7
that Andrew Hamilton, the legislative
agent who got large sums of money
without an accounting from the New
York Life Insurance Company had
been located in Paris and hat ne had
received a message from President Nc.
Call. asking him to come to New Yorl;
to appear before the committee and
render an accounting of his expenses
To induce him to do that Mr.. Mccall
said he was going to start for Paris
on Saturday.
George D.. Eldridge, actuary OF the
Mutual Reserve Life Insurance Compa-
ny said the poIicy-holders of North
Carolina in 1896 or 1898 contested the
| right of the company to- increase it's
assessments on the fifteen year class
| Of policies. It vas a concerted move
ment by attorneys. The courts gave
judgments against the company CON-
| polling it to return premiums amount
ing to about $1O0,O 900. The judgments
have not been Daid, but are now in
the courts on appeal. The court OF
| appeals of New York state decided
against the company and an appeal
to the United States supreme court is
now pending. Mr.. Eldridge said there
had been litigation over the right to
assess the holders of policies of tic
Is year class In many other states
| and the company's attitude had been
sustained. The right of the company
to so assess. he said, was sustained in
North Carolina, but the n in
which the assessment was made was
q discrimination.