The Birmingham age-herald., 1905-10-06

Typewriter Statement of Career.
 MT. McCurdy started this foreign ousi- ness in 1885, and assumed the office or general manager in 1903 at salary or $2Oo0O.
 The most startling part of MT MeCur- dy's testimony was made just before the recess, when he submitted a statement
 or his profits, or the revenue from ms | contracts on the foreign business Of the l company. From 1886 to 1902 while he was member of the firm of c. H. Kay mond & Co.,. the metropolitan agents or | the Mutual Life Insurance company ms proi1ts were $209 163. Under his contract with the firm he paid one-half, or slO466l, I to MT Raymond, and from 1903, when he l left the firm, down to August 3l l9oo, 1 his commissions were $1,059267 making a
 total personal revenue from the foreign
 business from 1886 to 1905 of sl,16S'S29. During the period of his connection l with the firm of c. H. Raymond x Co.,, MT. McCurdy, according to his own testi-
 mony, was receiving his share of the 1 profits on the business of the Mutual Life l Insurance company written by his firm | as the metropolitan agents. This sum 1 MT. McCurdy was unable to give any es- 1 timate upon, and later In the day when | MT. Raymond was called 1t was brought l out that these profits to MT. McCurdy amounted to 1852 net. or after his share of the expenses of the firms profits had been deducted. This made total l of s1,705, ,6S1 that MT. McCurdy received in 1 commissions.
 Succeeded by Thebaud.
 In 1893 when MT. McCurdy retired from the firm of C. H. Raymond & Co.,, he was succeeded by Louis A Thebaud, son-n- law of President Richard A. McCurdy of 1 the Mutual Life Insurance company. He 1 was practically under the same contract l as Robert McCurdy and from 1893 down 1 to 1904 he received in commissions on frst l premiums and renewals the sum of $92O,- 1 113. All these amounts were in addition to salaries paid MT. McCurdy and MT. | Thebaud.
 1 Charles H. Raymond, who was called to the stand to supply the figures of | profits that MT McCurdy was unable to I produce. occupied the stand for the re- mainder of the session. He was examined l as to the scope and territory of his busi- ness, and the amount of commissions he received from the Mutual Life Insurance 1 company, as well as the amount his firm | paid substitute agents was closely in- quired into.
 MT. Raymond's examination was not | finished when the committee adjourned 1 for the day.
 Edwin l. Devlin, the real estate mana ger for the New York Life Insurance company was the first witness today. having been called to conclude his testi- mony interrupted by the adjournment. MT. Devlin presented statements as to the real estate holdings of his company in | several western cities. These showed | that but from one to about three per | cent was realized last year on the com pany's investments In buildings, but he added that it was expected four per cent would be realized this year.
 Value of Company's Property. l r1r. Devlin testified that an apartment house at Park avenue and Sixty-second street cost the New York Life Insurance | company $1,009S66 and is carried on the company's books at $i50,0O0. The loss he said was due to the administration pre- ceding MT. McCalls. The office building in Kansas City cost s1,901,7S1. It Is car ried on the books at $1,20O,O00 and its net | income is $69002 or 300 per cent return on the investment The company charges itself with s1992 for six offices. 1 The Omaha building cost $1,246,64 and is | carried on the books at $650,000 and pays a return of little under per cent. The | companys rental Is s1200. The net income is $34,s03. All these figures are for the | year 1904.
 The building at Minneapolis cost s1,02S, | 752 and pays a return of 2Ia per cent The l net income is $25,9S0.
 l In St. Paul the building cost 1922. 40 and | has a net income of $S122 or a little less | than 1 per cent.
 The Montreal building cost sS1S,329, is carried at s350,000 and has a net income of s9212. or about Ia per cent on the actual | cost.
 Returns Fall Off.
 MT Devlin said that in 1903 the real es- l tate of the New York Life returned per | cent. In 1904 the return fell to 37 per cent. This witness said was due to the | home office annex which was taken over in that year.
 The Plaza hotel in this city cost the company a loss of $l29,036 MT. Devlln said. It lent money to the original build | CTS on mortgage and after $SO0OO0 had l been expended they failed and the com | pany took over the property in 1902 and l spent $2,000,000 on the construction. The l total cost to the company was s3960, 549 | and they got out of the investment with l the loss of $129035.
 Following MT. Devlin, Cornelius C. 1 White, an auditor of the New York Life l Insurance company. was called. He pre- | scented records of the account with An | drew Hamilton showing that two entries | of $75,0O0 each were charged to taxes, | New York insurance" account, the lat 1 ter one of the S75.000 entries was trans | ferred to the contingent expenses ac- | count. Mir. White said the latter account l consisted of items that were paid to the l president to reimburse him from what he | had paid out. W. G. Thummell, the law l yer, engaged with MT. Hamilton in legis- | lative work for both the New York Life | Insurance company and the Equitable l Life Assurance society was next called. l MT. Thummell said he was now an attor- l ney for the Mutual Life. He received | salary of S7200 and looks after taxes and | legislation for this company throughout l the United States.
 MT. Thummell said he had received | money from the New York Life Insurance | company in the adjustment of expenses | The last time he received money in this
 way was little over year ago. The | witness said Mir. Mccall was mistaken | in his testimony yesterday that he paid | money to the witness for work in en- | deavorng to secure federal supervision | Mir. Thummel said he had talk with
 MT. Mccall on that matter and asked
 him if his company would contribute to
 such a cause. Mir Mccall said 1t would | but witness was paid no money | MT. Thummell testified that Vice Presi- | dent Robert A. Grannis of the Mutual was | the executive officer who had supervision | over the legislative work. He said he be- | lieved that in 1904 the Mutual Life paid
 out for this work probably sl5,OOo.
 Handles Legislative Matters.
 Answering MT. Hughes. he said that he | travelled about the country and kept track | of legislative matters affecting insurance.
 When asked just what he did to defeat | strike measures or undesirable legisla- | ton, he said he tried to keep in touch | with the persons interested. He became | al int tad x-itb ,f