Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-10-07
The Modest Salaries Paid
\ Mutual Life Officers.
President kcCuTdy Received
Small Sum Of SI5o,o0o.
Other important Facts Brought Out During
fiday's Insurance Hearing.

New York, Oct. 6.-Closing a week
every day of which has produced d
sensation that has stirred the country
the special legislative committee in
vestigating the methods of insurance
companies, adjourned, today, until
Tuesday Of next week.
While other weeks of the hearing
have had sensations. no previous week
has had sensation every day as the
one that was concluded with today S
session.
on Wednesday, when President Nc
Cali of the New York Life. was on
the stand he heatedly declared that
thrcc-uuartcrs Of the bills introduced
into the Legislatures of the states of
II, Union were Elackmailng measures,
and on that ground he explained the
necessity for maintaining a corps of
special attorneys.
on Thursday, counsel for the COM
nittcc. Mi. Hughes took another tack.
End called Robert II. McCurdy. gen
cral manager of the Mutual Life, and
son of Richard A. McCurdy. president
Of that company, to testify as to the
agency system of the company, this
feature of the business being under
his control.
When the Investigation opened, to-
day 1t was expected the president of
tho Mutual Life would be called to the
stand before tn" day was over. BY a
misunderstanding, however, President
McCurdy had left the office of the
Mutual Life before he was called for.
and 1t is expected that he will be the
first witness, Tuesday.
In todays testimony the sensational
Ge velopmcnt was when Mr.. Hughes
demanded the payroll of the executiv"
officers of the company. rms was
PRODUCED and shows salaries of these
officers since 1877. For the year l"o4.
President MCCurdy received $loo'ooo'
two vice presidents were para soo'ooV
each. a second vice president Sl''"oo'
third vic" president $lOoOO ana gem
.ral manager $4,000. VINO TINS year
will receive $4,000, and the treasurer
$4,000.
Rn,,nyt Mccurdy said he never knew
the salary of his father until. To-Day
when III, nclrl It read in the commit
tee ROOM He thought however, mat
there should he no limit of the salary
of such positions because they should
h.. in acCordance with the accumula-
lions al tue company.
when asked il 1t was any benefit to
TIE policy noldcr to increase the presi-
dents salary, Mr., McCurdy SAID nc
Thought the trustees had c"nsidored
thnt when they increased the presi-
dents salary. No Increase. however
had over been considered when he was
pres. mt. at the trustees meetings.
Earlier in the day. when Mr.. Nc
Mr
trl,d a. bring out why &. ii. Raymond
4 ~. ana thc partners IN that firIh,
received LrE,r cm"lumcnts from tn"
business than any other agency OF
the company.
Mr. NcCurdy said he did not know
what MI Thcbaud received from tn"
business and had never talked with
him about his personal affairs. II"
yad N Vls large reward for large
nrhi,y,mcnts" and that all business
az urge magnitude were built upon
that principle.
During Mr. McCurdy's testimony II
was brought out that Gcorg" Ray
uuund brother Of Charles II. Ray
i nnd was the general agent for New
Jersey: that Howard Lewis. the gem
.ill agent for northern New York, with
IN Office in Albany. was "A cousin of
either tn" Vicc president. Mr.. Granniss.
az Mrs t;rauniss: that Dr. T.. J. Moss
thu mrdical director of the Mutual Life
n ltrird 4 sister Of tho president Ot
tn company, aud that l.. Stuyvcsant
NiTInt. ~ inspector 90 risks. Is cousin
~ Louis Thobaud srn-in law of Presi-
dcut M",'urdy end partner Of the RAY
u,"nd firm. G.. w. White. "A secretary
of n" company. whom Mr.. MCCurdy
uis asked about. said hc was no rcla-
tive nf any officer Of III, company but
that Mrs. white was niece Of Mrs.
t;ranniss. wife of Vice President Gran
mss" IIc knew non" of the salaries
Of thcs" officers.
At on" point In tn" days testimony
much interest WAS manifested when
IN" expenditures of the company were
tnk, u az.
An auditor of the Mutual Life. Mr..
PrcIIrr. was on the stand and he was
nskcd ~ To tho method of recording:
IN. expenditures. II was gathered
that thcs, were passed upon by an
expenditure committee of which Rob-
crt elephant was chairman.
Three, entries on the books of pay
m,nts To Mr.. ELEPHANT Of $4,000 each
we're looked into hut no information
could ~ CLEANED. Mr.. Pr"llcr was ask
80 about The campaign contribution 10
tn. Republican congr' ssioaal commit
tee which was disclosed. yesterday.
hut he SAID II had not come under his
observation.
The $500 contribution to the con-
grCssional committee was looked for
whom the ledgers were produced but
ur to Adjournment. this afternoon, this
had not been found.