The Montgomery advertiser., 1905-09-30

 LEGISLATION. Three Insurance Com panies in Big Pool. SENSATIONAL EVIDENCE Hamilton Handles States
 West of Ohio. Important Deveiopment was Appearances ay Witness of Jacob schia. who
 ss Times Grew
 strenuous.

lative committee on the insurance in- vestikation adjourned today until next "Wednesday 1t concluded a week in which greater progress had been made than in any week since the investiga- tion was begun. The testimony of wit nesses that have been called during the week has been replete with sem sAtions and that taken today was no exception to the rule.
 It was during the afternoon session today when Alfred w. Maine. an as- sociate auditor of the Equitable Life Assurance Society, was called to the stand that it was disclosed that the Equitable Life. the Mutuaa Iafe and the New York Lafe colnpantes have formed pool to look after ieEieiation before the various State AsKislatures Andrew Hamilton. to whom Fressdent Mccall of the New York Isife paid several checks, the purpoae of which the counsel for the committes. Mr HuRi1ea, has not yet brought to light. was one of the chief members Of the legal stan for these companies and was employed and received money for the services from the Equitable,
 Mr Maine told of the division of tife to be looked after by NJ. Haiaa- ilton In conjunction with E. Ix Short and w. P. ThummeIi. Witness pre- scented vouchers for moneys paid " his company to Mfr. Hamilton and nese showed that in eight years. from 1895. to 1903. the sum of s65.5e6 was paid to MT. Hamilton Tor legal services. Mir. Maine could not give any detaikg of tho duties performed by Mir. 1sanailtcn nor of the committees he appeared be- fore, beyond the fact that Mir. Hamilton looked after legislative matters for aii three companies in the States west uf ffssA@. xk1f4ss ana xf<f4 s.F mn nssENMstslsq whereby special counsel waa employed by one company In it's tarrttofy and the expense was shared by nll.
 ffe was asked if eaNsFaign cnntribtf- iionx came under his observation and hn replied they ald not. He newer knew nf ssiS tnonex pNing pald te~ii% sinsnce isesslate teEs, sie was exssqsed. kras, sri ss Of nnsesi tE GissiSH iilfDFFAas tion he was unable 10 supply today.
 Real Estate Agent Dewlin.
 Edwin I. DevIin. the real estate agent of the New York Life, was called In the afternoon. He was asked to testify as to the cost of the building in Paris. He had only the transcripts for the re- ports this department made to the home ofice, but 1t was brought out that the Paris building was carried on the books of the company at valua- ton of $1,102,604, whereas with the original cost and Improvements on the building actual money to the amount of t2,53s,10 was paid, over one million being charged of the valuation on the books of the company. Mir. Devlin said the net income on the building was one and one-half per cent on the actual amount invested on the building, or be- tween three and three and one-half per cent on the amount at which the build ing was carried on the books. Mir. Devlin was on the stand when adjourn ment was taken and he will be called again to submit transcripts of the records to supply further information,
 Not the least important developments of the day was the appearance on the stand of Jacob H. Schifr, head of the banking firm of Kuhn, Loeb & Co. MT Schiff was the first witness of the day and he remained on the stand until 3 o'clock. MT. Schiff had been waiting in the session chamber for a day and a half. being under subpoena, and when the usual time for recess arrived MT. Schiff desired to proceed as he had an engagement for the afternoon.
 MT. Hughes referred the situation to the committee and 1t was agreed to continue until Mir. Schiff had conclud- ed his testimony. Most of the time MT. Schiff reclined leisurely in the cnair on the witness SIAn0t put as one point after another was brought out he grew excited and vigorously defended his attitude while a direc- tor of the Equitable Society and claimed his firm had acted in a con scientious manner in all dealings with the society.
 Sehifrs Statement.
 At the conclusion of his testimony and before the committee could ad- journ MT. Schiff asked to be allowed to make a statement. He was per mltted and he stepped briskly forward on the platform toward a small ta- ble and made an tmpassioned attack on the State superintendent of insu- rance and statements he had made concerning Kuhn Loeb and Company during the investigation of the Equit- able. MT. Schiff emphasized his re- marks with rappings on the table and frequently he raised his voice until it was almost a shout. During hIs testimony, too, MT Schiff made the charge that the minutes of the finance committee regarding A certain meet ing were false. He later qualified this. however, by saying if the trans action under consideration, one in Un- ion Pacific preferred, was actually made he did not hear or 1t. though he was present at the meeting. Again. during his testimony regarding the mower of the finance committee of the Eouitable, Mir. Schiff waxed warm in his explanations and said that the en- fire committee was at the mercy of one man. Tt was all Hydes" said Mir schiff. "all Hyde and Alexander. MT. Hyde wrote the messages regarding inc offers made by my firm for par ticipation in syndicates; Mir. Hyde sign ed all the receipts; Mir. Hyde wrote all the letters
 In the matter of the James H. Hyde and associates syndicate MT. Schiff botlv accused Mir. Hyde of trying to shield himself. He said the position of a director in the Equitable was that of a negligible quantity and that inc directors were mere figureheads. He said further that he had never asLsd any favors of the Equitable So- cietv1 T have granted many favors,' he said "I have not done, as a d. rector of the Equitable, any wrong of commission. I may have done some Of ornmission. It is a case of hind- sioht and not one of foresight. But SaS, conscience frees me of my bond. [ have been as good director as i,,aSy how to be and did my duty"
 schiH First Witness.
 Jacob H. Schif, head of the firm of