The free lance. (Fredericksburg, Va.) 1885-1926, 1905-10-21
MCURDY WON'T RESIGN
President of Mutual Life Says
Nothing Can Drive Him Out.
HE CONTINUES HIS TESTIMONY
Trust Companies With Which Mutual
Was Connected Became Very Pros
percussion Called On to Explain
Exnense Account.

Was Connected Became Very Pros
percussion Called On to Explain
Expense Account.
New York. oct 2O.-Richard A. Nc
Curdy. president Of the Mutual Life
Insurance company, made the state
ment that he had no intention OF re-
signing. that he was elected to serve
until June Z. and that nothing can
or will drive him out
Il was also announced from the dis
trict attorneys Office that no action
will be taken regarding the George j.
Pmnkitt matter that was turned over
TO the district attorney by the leeisla
tive committee that Is investigating
the insurance companies.
Closing one OF the most sensational
and strenuous weeks OF the insurance
Investigation. the committee just be
fore adjournment concluded the ~.
animation of Richard \. McCurdy' with
the execution OF few details he Is to
supply next week.
Mr.. McCurdy has been on the stand
the greater part OF the three days oil
this weeks session and some OF his
testimony has been the most startling
of any that has been adduced before
the committee. Ills testimony yesler'
dav. however was very much OF
technical slture. though II was OF
much value to the committee In It's
work The information furnished by
Mr. NcCurdv disclosed that the trust
companies with which the Mutual Life
was connected became very prosper
Gus soon after they were taken up by
the Mutual Life. Two cases in point
were the Morristown Trust company
AZ Morristown. n. j.. where the Nc
Curdy family live, and the United
States Mortgage and Trust company.
The former Is now controlled by the
Mutual Life. and Mr. McCurdy testi'
fed that besides being a director OF
this trust company he is a large stock
holder. and would take more stock II
he could get a.
The Mutual Life keeps a balance OF
not less than 100000 with this com
panv. on which ii draws from 10 3
per cent. The latter rate has been
paid only since September / Mr. Nc
Curdy did not know the holdings OF
other members Of his family in this
company.
In the syndicate operations MI Nc
Curdy said be participated not with
the idea Of drawing bonds. but to OBJ
tain his share of the commission al
lowed by bankers.
Mr.. WcCuriy was asked what life In
surance he carried. and he was unable
TO say al once bus James VI. Beck.
his counsel presented statement
showing when the policies were taken
out. for what amounts and the plan.
These aggregated 100000. all in the
Mutual. Mr. McCurdy testified that he
was also insured in the Equitable, the
Washington and the Connecticut Mu-
tual
Before he left the stand Mr. Nc
Curdy said be paid $500 for his apart.
ment In the Grosyenor building. which
is owned by the Mutual.
When Mr. McCurdy was excused.
his son. Robert H. McCurdy. was call
cd to explain some charges for travel
ing expenses in 1904 He said one OF
his duties rs general manager was to
visit the agencies about the country.
Three such trips were made. the ex-
pense of which aggregated about !
$1,000. Mr. McCurdy said that while
on one trip be was accompanied by
his father. mother wife and the lat. |
ter's maid but that the expense ac- ]
counts were for himself individually |
and did not include those of any other
member OF his family or party. He
had a private car on one of these
trips. He could not tell why the ex-
pcnses on these trips were so large, |
but said he would furnish the details
later