New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-06

oBut your intention. the intention OF those
whatever may be the technical Of it.
was to apply to renewals only? A-Ihat was 4''
QIThis contract as it states. applied only o1 to
the renewal premiums iitirr Of business renewed
after that date. and your own contTact bean re-
ceipts prior to that time but receipts from ness
business Written 70 PRIOR 5T 10 that time
Q.-The contract says in consideration Oh al ,edt
sthrough your agency, of amount wtnn o fe he
ereton of the company not to exceed m
Of branch Offices within your distTes' P5o he
new premiums on new business paid in excess OF
the first 100000 of business above guaranteed ar
to be returned to the COMPANY Pb br mounts eng to
which your firm was entitled under TINS coR on
office? Ave received si27.oOO. u-,,o,
Q.-That is in excess OF the amounts 10 Wnic ~
you were entitled under your contract by way OF
commissions? Ayes that money was eApe'-NeU
OF was received and expended? A-Received
and expended. The amount was SlzffN a.
CHANGE OF SYSTEM.
Q-I am informed by. Mr.. Beck that that s was
of the system OF the company from genera RAJ
agency to saIaried basis A--That was the IN
QDHaTe you received notice of the termination Il alton
the time the contract was made. .bo,,ut T.
cor course, all Of these contracts tnoug a IN IN
your personal name. we're at once turned over s 10
the firm of G Il. Raymond Co, so fnat T Thsf
contracts
contract states the name OF the firm. - ava
Q-Yes; of what time is the contraSt 70 e n1
under the notice that you have received! Am
o@Now. I notice that the first years commits mis-
amounted to SSa a. and that the net first years
%sTs 30 o. but That tt IN '' iSo the total
commissions of c. II. RAYMOND & CO. were ss.,-
CO. M sIS 'e of {. Il Raymond & Co was
tE 81 bIen wog fe aP pr from i to 1904 so as to
reduce the first years commissions Of y me R Rly
mond 60. rose some 5000 from 5000 s2 900
What is the explanation of that? A--lSOl as COM
Q.|As Mr. Bell explained. the explanation is due
to to- the fact that the agenf9 hSq Seg had to
be paid more in 1901 than they were pad m lyvs t
o0Weil. the point is-perhaps I stated IT differ
emily from what intended t9-What qae ,ba 10
say was the agents we're PAID more fba l pro 5a
tionate payment was larger. -. -,
Q:-why was that? At is on the system TEN . by
knots hour you use certain quantity OK coa a
bgt you s want it 0t GO twce as much coal
Odd you not want to do as Wen IN SOt as IA
Company to that extent our limit was 81 0oo0o co.
and we did 5000 099 in igo and we were not
Q.-Well it is profitable evidently with Raymoaa99
& Co. as with some steamships to go at less speed
ALPHABETICALLY so, and so with every general
Sas 2S are s Pu S5 y3 Whip 5's on US
spend MONEY e to gt 5ee it y be due
hard times. / suppose he means hard times Tor
N Beck-Tn 1871 they may have had to pay more
money TO get the business l.. ,r,o +t,o+ +ba
rate of income of G H. Raymond & Co had been
improved bettered during that prlod W0ulQ II
Mr. Beck-Is it simply the question Oh amount pau
So 10000 Of Extra business We would have had 70
put our money in and get it, We always Ulea 70 70
business If they served notice that they wanted req
more business We did our best to get It. DO NOT
oTi 7 do NOT
drive the business so hard
NEVER ASKED REDUCTION
Odd 1t occur to you at any time when these sti
atfention to the fact that the earnings of the firm
had increased to such an extent tnat lhey couIu
stand reduction of commissions? Al never
asked them to reduce my commissions; cert anly
not when they were cutting me a9wn o. hen thew
cut down the contracts and cut down the CON-
o.MFor how long term had you contract at
the end of 1905 only one year, was it notI A-1es
psd H Zach not Te sq9 n aYes ard that is the
did get more business II they NAG grHe g
three year or FIVE year contract c'uiu -'''' So
NOR 0In what way were you cut down? A-Be
cause they interrupted my contracts II you VIII
o.LYou had a contract for 1904 at the time - this
contract was made the new contract in 1893. Thai
Is what you mean by having II cut on: 81 IS
-, toolf that away from me. as said before
oSLWhat were the reasons for increasing Mr.
Thebauds share in this PaGtneTSnip SO Ias The
O-SIdte =
unable 70 attend to the business I was obliged t
be svav from the Office for long periods, during
eere-sf years and I was finally unable to give my
attention to the hard work Of the office. | wa!
nrenared TO retire from the business and wished q
FFas{gn. but my name was said to be good trade
mark and I was known to all the agents OF M
city and so made new arrangement by %ne 81
vas gradually let out, as II We're, OF RESPONSE
britIS Of working for the firm. still responsi
bic to the company for whatever was done there II
&c o@Was it at the suggestion Of MI RICHARD d, A
McC,urdy or Robert II. McCurdy, that Mr- me
baud's interest was increased? At was not
was at my own, sir.
Although the testimony taken at the AFTERNOON
session was largely made UP of figures explain
to, +te inner workings Of the Mutual Life. the
members of the committee admitted that they
were startled by the disclosure of the pronts
with the big insurance company. The testimony
Of Robert H. McCurdy will be continued to-day
and possibly Richard A. McCurdy and Vice
president Granniss of the Mutual will be re-
called
Mr. HYDE'S NEW OFFER