Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-09-30
INSURANCE COS.
HAD REPTILE FUND
The Equitable, the Mutual and the
New York Life Formed a
legislative Pool
LOOKED AFTER LEGISLATION.
In Various States There Was a Lobby
Judge Hamilton Was McCalPs
Chief Agent


New York Sept. 2q.-Wheu the lopls-
I,,,,o oor,u,i,,a, ,, lrsYrarg, ipyes.
ugation ADJOURNED To-Day uhlI next
Wednesday &c concluded % week I'm
which yrnatnr progress had napu made
,...... .t... i,.,...,t.,o
'''''N ~ AMY "'.N '''.D '''N
ton was begun, The testimony OF
witnesses that have been called during
.b. mol. hoe t.,,, .rs,leto with saus,-
uoA ana 'hat lo''S WIS no 'N-'p'''"
% the rule
IL was during the afternoon session
..5... -. ,It..4 "A, ,rot.. .,, ..s,.
'olay' "ne' N'l'e1 w 'N'''''' "'' ''-
claie aualtor OF the EluIule Lie A7-
suranCe society, vag called 10 the stand
that It was disclosed that the Equitable
Life the Mutual Life and the New
York Life companies had formed Is pool
to look after legislation IN the various
state legislatures. Andrew Hamilton.
10 whom President Mccall OK tine New
York Life paid several checks tine pur-
pose of which thy counsel OF tuo com.
mittco, Mr. Hughes. has not YET
brought 10 light Was one of the chief
members OF tine legal stau for these
companies, and received money for SER
vices for the Equitable.
Mr. Maine told OF the division OF the
country 10 be looked after by Mt Ham-
ilton, In conjunction with r.. l.. Short
and n. Al. Thummoll Witness pre-,
scented vouchers for money paid by his
company to Mr.. Hamilton These
showed that In eight years, from 1895
10 1903 the sum OF $s5.5JO was paid
10 Mr. Hamilton for legal services, Mr.
Maine did not give amy details OF The
duties performed by Mn. Hamilton nor
OF the committees DE appeared bgln.e,
beyond the fact that Mr. Hamilton
looked after legislative matters for all
the companies I'm the states west Of
Ohio
Witness told of an agreement where's
by special counsel was employed by one
company In It's territory and the exc
penso was shared by an Tie was
asked II campaign contributions came
under his observation. and he replied
that they I'D not lie never heard OF
money being paid 20 Influence legis-
lators lie was excused but viii be
called again to submit transcripts OF
accounts giving information which he
was unable to supply
He was followed IN the afternoon
session by Edwin T. Deylin the real
estate manager OF the New York Life
FOR the United States and Canada. Mr.
Devlin was called 10 testify as 10 the
cost of the buildings iu Paris. He had
only the transcripts Of the reports this
department made TO the home Office
but lt was brought out that the Paris
building was carried ON the books OF
the company at a valuation OF SllQ2.-
Goa. while accounts show with tho
original costs and Improvements ON the
building. actual money to the amount
OF $2,533,lO4 was paid, over one mill
lion being charged OF the valuation on
the books OF the company.
Mr.. Devln said the net income on the
building TO the New York Life was
one and one half per cent on the actual
amount invested in the building, or be-
tween 3 and 3l3 per cent on the amount
nj which the building was carried on
tho books Of the company. Mr. Devln
was on the stand when adjournment
was taken but ne win be called again
10 submit transcripts OF the records to
eunpIv further information.
Not tbe lenst important development
NJ the dav was me appearance on the
stand Of Jacob II. Schifr head OF the
banking firm Of Kuhn. Loeb ~ Co. Mr.
Schiff was the FIRST witness OF the day
md he remained on the stand until
n' '-I Mr. Schlr had been waiting
in mo committees session chamber for
dsy and a half being under sub
noen9 and when the usual time for re.
ress arrived Nlr. Schir desired TO pro.
rco1 ne he had nm engagement for tho
nte,,roop Mr.. Hughes explained tho
gitnation 10 tbe committees and lt wa,
ogreed 40 continue until Mr. Schiif hat
r0ncludcd hid testimony.
Most of Inc tiue MI. Schiff rcclinet