The Barre daily times. (Barre, Vt.) 1897-1959, 1905-12-07
LEADS TO
PLATT?
Big Bill of Law Firm Put in
Evidence at Hearing.
INSURANCE. SENSATIONS.
Woman Witness Says Mutual Reserve
Officer Admitted Winning Policy
Suit Without Right of
Justice.

New York, Dec. Among those who
listened to the testimony before the
insurance investigators yesterday was
Miss Charlotte Kiser, who may be called
to the witness stand later to tell her
story Of an experience with the Mutual
Reserve Life Insurance company. She
says that she and her sister were cheated
by certain officers some years ago, re-
sewing only $500 as benficiaries of q
policy of $4,000 on their fathers life.
Speaking of her grievance, Miss Kiser
said that the case was taken to court,
but the company won. After the de-
cision had been rendered, she added,
an officer of the corporation, whom she
knew personally, told her that she had
been baked.
The first witness yesterday morning
was Geodge w. Eldridge, the Mutual Re-
serves vice president, who has been Civ
ing evidence for several days.
Mr.. Hughes first introduced in evil
dence a receipted bill from the law firm
of Boardman, Platt & Solely for $751;
900, rendered for services to the Mutual
Reserve in connection with the reorgani-
xation in ls09-1900. The services, ac-
cording to the bill, included the draught-
ing of an amendment to the state in
surance law Frank II. Platt, mem
Der of the law firm, is a son of United
States Senator Platt, and is still act
ing as counsel for the Mutual Reserve.
Il. p. Soliday Of Trenton took out a
policy in 1886 for an amount not to ex-
coed $500, in the Northwestern Life
Insurance company, which later was
bought up by the Mutual Reserve. Mr..
Eldredge said the Mutual Reserve gave
Soliday policy for $500 in place Of
the one he held in the Northwestern, but
put lien of $4,000 against it. Excess
mortality charges later made against
the policy cut its face value to $3,765.
Altogether Soliday paid 81 ,s43 into the
Mutual Reserve as premiums on that
policy at the rate of $4S3 year, and
got for it in 1905 paid-up policy for
$352, which was all the company would
allow him.
Mr.. Hughes questioned the witness as
to why the company made representa-
lions to policyhoders that its uniform
premium rate would be certain amount
and then made special assessments
against him in addition. The policy
which brought up the point made out
10 Austen Lathrop, Jr., Of Corning, N.
". who was insured for $1,000 in the
Mutual Reserve in 1882. After paying
an increasing rate Of assessments until
1898, Mr.. Lathrop got from the COM
pany new policy under which he was
required to pay uniform rate OF SAT
bi-monthly. The company began to levy
special assessments on him in 1904,
and he paid them under protest.
The company wrote him that this
policy allowed the company to make
special assessments, and eight Of them
were made on him this year.
The next instance elected the com
ment from Senator Armstrong: 1T
does not seem remarkable that there was
high mortality among people holding
such policies. | should think it would
kill them
The policy was for $4,000, and was
taken out in the Mutual Reserve COM
pany in 1881 by man So years old.
The premium on this policy ranged from
$40 the first year to $40 in the last
wear, and amounted in all to $4,000.
After carrying the policy for 20 years
the man allowed it to lapse IN 1901,
and got nothing.
Mr.. Eldredge said his company had
made no payments to Andrew Hamil-
ton, the legislative agent, nor to An
drew @. Fields, to maintain house at
Albany.
Charles M Turner, president Of the
Security Mutual Life Insurance com
pany Of Binghamton, was next called.
lie said the company was organized in
1886 as an assessment company without
capital stock. Charles F. Upper was
a party to a contract by which Turner
and Topper agreed to carry on the bust
ness Of the association, Turner TO be
general manager and Upper to be secre-
fary. They also we're to advance mon
eys as necessary and were to receive
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