The evening world., 1905-10-10
Didn't Ask His Son.

the company
Didn't Ask His Son.
@. Well what did you do to find out
1 what C. II Raymond a. Company were
making? Did you ask your SOM a
o. Did you ask your son-n-aw, Mr..
Thebaud? a. | had no more rlght 70
ask them what bleir pronts were tndn
have to ask you what your prohts
o. Did YOU eyJ- know when your son
| as general manager entered INTO new
( contracts with general agents? A. !
ny o Have YOU known what Mr. Tnebaud
has been MAKING \ No ,,,,
o Mould It surprise YOU to know, that
he got slH.O)O last wear out OF G. h.
RAYMOND 4 CO.. \, No, J diant kno-
until II came out here. but ] am not
eVop Didn't you have any seqstiyeness
4 over the fact that NJ. Tneblud was
tVour son-ln-law ar1 that he should NOT
be making waat his general aunt "a. &c
OF prosperity indicated? A Not anN
more than ANYBODY else Sln'l
Didn't stay Awake Nights
@ Do you think that Is proper? a.
1 haven't been laying awake OF nights
/; tor twenty years past thinking about
what any particulr individual was max
, inK VI course, l letI INV i'HP""9'''''9
: Of my position. ,,
Z II. RAYMOND a. c.. should make 100000
! In a year? A. You ak my judgment
, and ] must answer that II all depends
o upon other reJslns-upon competition
= and the efforts Of other companies to
get a good agent.
q. Did c II. Raymond ever threaten
20 leave You? A, He woul ldr't leave me
for anything In the world
20 leave ave You? you /? a. 80
O. Did Louis Thehaud ever threaten
> 10 leave you2 A No. sir. ,-
o. Then, Vhern does the competition
come in? 4. Well, the other companie9
! strive TO break w the sub-ageAcy
q. And that's why YOU pay G. a,
Raymond u co. Ue rlies you do? A.
Yes, cir, taats on reason, perhaps
the chief
Didn't Make the Contract,
Q. But waht conditions exist in New
York that require your company 10 pay
C. II Raymond & Co. such raes as TO
enable them, after paying all expenses
and sub. agent comm 'sions 70 make a
net profit Of s20OOO? 4. You'll have TO
ask the general manager. did not
make this contract.
3, To your know edge wrat conditions
exist? 4. None, nor do conditions eNist
IN any other com immunity or city making
II necessary 10 maintain such a con-
tract
O lave "ou ever gvcn attention 10
the matter Of salaries? 4, None Of late
years. 80,
when your salary was increased 10
$4,000? 4, The Cnmittee on Salaries,
=. Did you request an in'rease' 4, |
raver requested an Increase OF salary
IN my life.
tee was In session one day and asked
me 10 ,ep into the room, lnclelses Of
IN esalarles Of -thers were talked OF,
and when II came - a dis-lss,Jl Of my
salary was requested TO leave the
room.
He Felt Compllmented.
O. Did you raise any objection to the
increase OF your salary? A. l did not.
! felt compllmented, that ! was ap-
Q. What grounds were urged for
your getting a salary Of $1,000 Al
would rather leave that to Others to
say took Il as an appreciation OF
O. Would you have continued TO
serve for 10000 a year? A. | would
rave continued to serve no matter
how much | was paid
o. Do you thing II right that YOU
should take that money from the earn,
ings of the pollcyho.derS' a. ! feit
oompllmented.
d You know that YOU wer' receiving
n larger salary than any ou''r presl'
dent OF a life insurance company n
I aid. ! took that as compliment,
Here the MuWars attorney James
NJ Beck, interrupted with ro1ues' ~
spread upon the record a statement or
ehe increase in the business II the COM
pany as q justification f'r corresp2nd-
ing mcr,lsc ir the salary Il Pres'den'
McCurdy
Reads Recks Statement.
Mr.. Hughcs-Vcry good, Now MT
MCCurly. you may road this statement,
and see II It VIII jus ify your receiving
, siGNO0O a year A. Mr. Hughes, ! don't
think thlt ny salary REQUIRES any
iusufica,ion, Bu, 50 long as YOU put
me in this posi- pa, I shall read whlt
Mr.. Beck has handed 70 Du although
| should, with becoming mJies;y, wish
that you nad or would ask some other
witness.
Mr.. McCurdy went on with the Beck
stntpm,nL. setting forth how, under
mis- management the Mutual had gone
ahead year after year increasing IN
volume In twenty years the income
had risen from 2O,O0O0OO To- SO00OOO
ard disbursements to policyholders
from sliGm,OCO II Si0O0,oO. The In
surancc In force has increased from
s36S00.C0O In 1855 10 SLNLOWCO0 In 1904.
In addition t. all this Mr., Beck de-
clared In loud vol o.
"The assets OF the Mutual Life are
larger than those NJ the Banks OF
England Germany and France COM
blned.
Made Everybody Laugh.
Etck also called the Mutual Life
"tne pride of this country
Aai tfan everybody laughed,
Senate" Tully throw this question at
Beck
fylng the PAYMENT Of Sl5Om year To
the preeIder' " life insurance COM
pany? Do you thl.S he's worth Il?
"GeuuPner. aid Beck u d1 think
he's worth It. And I-want to say that
there alc many law firms IN this city.
many huy'acss houses VITA far less re-
spOr slhIllty than Mr McCurdv which
are mukiEg $1,000 n year and more
g., le. us remrmlaT ~. J0hnson's
famous remark ab1ui not using caat."
The witness went into long disssr-
tatlon on the original purposes II lfe
Insurance, calling It "a benehccnt, mis-
siOnary institution and particularly
pointing 10 the Mutual as an exemplar
OF ths missionary spirit,
Mr.. Hughes-Thats all very well
about llfe Insurance being a missionary
institution, Mr.. McCurdy. But let US