The citizen. [volume] (Berea, Ky.) 1899-1958, 1905-10-19
The Testimony in the Insurance
Investigation Was Exciting
Throughout the Day.
PRESIDENT M'CURDY WAS JEERtD
Only Repeated Threats To Clear the
Room Prevented Violent Demon
strations of Disapprobation.
The Mutual Life Employed a Literary
Bureau To Send out To the Press
Of the Country Insurance
News Matter.

New York, Oct. 1s.-Testimony I'm
the insurance investigation. which was
resumed Tuesday after a weeks az
jounment of the legislative commit
tee was most exciting throughout the
entire day and only the repeated
threats OF Senator Armstrong. chair.
man Of the committee. to clear the
room prevented violent demonstrations
of dlsapprobation of the witness. who
was Richard A. McCurdy. president Of
the Mutual Life Insurance Co. As Il
was. however, there were ieers az sew.
eral periods OF the days testimony
that temporarily interrupted the ties.
timony. These came when Mr.. Hughes
the counsel for the committee, asked
questions that Mr.. McCurdy was reluo.
tant 10 answer. or evaded and we've
made by nv crowd that stood at the
back OF the room which long agO
proved inadequate 90 accommodate the
counsel and Witnesses summoned. and
the crowd OF spectators that increases
with every hearing.
In Mr. McCurdy's testimony Tues
day a feature entirely new was dis
closed. and this was that the Mutual
Life Insurance Co. employed a literary
bureau TO send out 70 the press OF the
country news matter that was OF bene-
nc to the company This information
was ELECTED during the probing OF tho
legal expenses" account. IL came out
when a voucher for the payment OF
$500 TO Joseph Howard. jr. In 1904,
was produced. Another voucher for
the same amount paid in May. 1905.
was marked "repayable on demand"
and for professional services"
Reduced Dividends on Policies.
During the earlier session OF the day
an attempt was made 90 obtain from
Mir. McCurdy the reason for reducing
the dividends on policies as the bust
ness increased and the assets piled
up. This question was prompted by
the large number OF letters received
from policy holders by the committee
and cited facts and examples. These
letters came from all over the coun-
try Mr.. Hughes explained. but he read
number from policy holders who
lived In this city. The examples cited
we're principally on the ten-payment
llfe plan. One IN particular for So
600 that IN 1876 drew a dividend OF
s55.75 had been gradually cut until in
1904 II received only SO. The writer
lnclosed tables and statements from
the company's reports and said that
this was In the face OF the reserve in
creaslng year after year.
To all the questions on this matter
the witness said that he was not for
tiled with the Information required;
that these we're actuarial matters; and
when pressed for his opinion replied
that he refused TO discuss the question
or to enter any discussion. He would
proner a witness. his actuary, whose
business Il was to know these things,
but as for hlmself he would not dis
cuss the question"
Mr. McCurdy's demeanor was so In
slstant. and at times defiant, that the
spectators bent forward to catch every
word and stood on tiptoe, expecting
every moment to hear him directed by
counsel TO answer the question. His
prefer OF another witness was ali that
prevented steps being taken toward
his Indictment