The county record. [volume] (Kingstree, S.C.) 1885-1975, 1905-11-09

- New York, Speclal.-The sessions
of the insurance investigating commit
tee were terminated for the week at
the adjournment, because of the death
of S. Fred Nixon, Speaker of tie As
sembly of the Legislature Of New
York, at his home in Westfeld
I The testimony did not elicit any IN
formation of a sensational nature De-
yond what had been discounted in
the testimony of previous witnesses.
The feature was the presence as wit
neSSes of the executive officers of the
Mutual Life Insurance Company.
These were President Richard :. Nc
Crrdy and Vice Presidents Grannis
AMI Gillette
While it had been hintcd last week
that some expenditures charged to
legal expenses might have been con-
tributions 70 campaign committees. it
was announced definitely by D! Gill
iette that the Mutual Life contrihut-
ed $4,000 to the Republican ia ional
committee last fall, that in 1000 S2:5,-
- 900 was contributed and in 1896 SD.
Q0C was given for campaign purposes.
DR.. Gillette testified that he paid
these amounts personally Ill cas'', and
later in the day Mr.. McCurdy said
L. h t1-,-
buttons had been made he did not
know the amounts. He said that no
contributions had been made to cam
paign committees before 1896 and that
no contribution TO State or municipal
campaigns had ever been made IN this
or any other State. The con;rihu
s ton of $500 to the Congressional
:, campaign committee Mr.. McCurdy
said he knew nothing about until 1t
caIae out in the testimony last week,
Vice-President GraEniS knew little
about the contributions TO campaign
funds, but justified them on the same
grounds as President John A Mccall,
of the New York Life. that the free
silver plank in the Democratic plat
form was menace TO the interests OF
the pohcy-holders.
When Mr.. Crimmins was called he
assumed the entire responsibility for
the terms of the contracts with 1. !.
RAYMOND and Co., by which hat firm
made such large profits. When The
method of expenditure of the S2o,o0O
: items. was inquired into. Mr.. Gram
mis- admitted that the general so lcltor
could get $4,000 any time he wanted
ii without disclosing for what purpose
he, wanted it and without rendering
5 an, account of it He further sald nc
nsfer knew where q cent Of the money
.spent by the general solicitor went.
In taking up detiled list OF the
company's expenses DR. Gillette said
! that the company last year pald
$4,000 for luneheons for the en-
Moves. 1t is the custom for the com
pany to furnish their clerks with
luncheon This is at the rate OF about
$3.50 day.
Toward me close oI 'iIV oe9"'0
sMcCnrdv made the startling state
ment that an insurance company was
not an institution founded to make
money Cor the policy-holGers, bn' was
j or should be, great phllaathropie
enterprise founded to increase ana
Z spread its benefits over the entire
earth. 49,.
.There Iaas been great mistake
Eaade,'' he said" "ahout the real prov
ince OF life insurance companies III
these latter years. People have been
led to believe that the main purpose
was to make money for It's poiicy-hoi-
ders. In my view, that is not the pur-
nose of such companies. They are
eleemosynary. When mar t'S'reS
ina company he should take into con-
] sideration the feet that he has enter,
ed great philanthropie concern taa'
Is in duty bound to spread ITSELF even
though this growth prevents him from
realizing as much as he expected.