Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1905-12-29
Former Superintendent
Completes Evidence.
DECLARES REPORT THAT
HE GOT $4,000 is FALSE
EmphaticaIy Denies That He Was
Bribed to Let Company Write
Report Of Investigation,

New York, Dec. 2S.-Louis +. Payt
and j. Rider Cady, who was employed
at times as counsel by Mr., Payr
while the latter was state superintend.
ent Of Insurance. were the witnesse!
today before the insurance investigat.
ing committee. who furnished all OF
the interesting testimony notwith'
standing the fact that more witnesses
were examined than any other day
since the investigation began.
Mr.. Payn was called to complete
his testimony of yesterday and in re-
ply to one of the first questions asked
him, emphatlcally denied the report
that he had received $4,000 from the
Mutual Life Insurance company, and
had allowed that company to write Its
own report of an investigation which
Mr.. Payn had caused to be made IN
1893. MIR. Payn characterized the
report as false, and said that 1t grew
out of a fight between James D. Wells
former vice president of the Mutual
Reserve, and President Burnham OF
the same company.
Judge Cady was brought into the
investigation by reason of his having
appeared before Mr.. Payn in the in
terests of Prussian companies seeking
admission to the United States. This
application was denied by Mr.. Payn
but two years later was granted.
President McCurdy of the Mutual
Life Insurance company had asked
that this permission be held up until
he could see Mr.. Payn. This re-
quest was refused but Mr., Payn had
Judge cady call upon Mr.. McCurdy
Mr.. Hughes asked If Mr. McCurdy
said the Mutual Life would pay any
money for a contrary decision. Judge
Cady said he did not. but that Mr..
McCurdy offered him a retainer In be-
half of the Mutual Life, which he re-
fused
The New York office of the insur-
lnce department was inquired into
when Robert Hunter, deputy superin-
tendent was called. Mr.. Hunter could
tdd nothing as to the conduct Of the
insurance department to what had al
ready been supplied.
1t was brought out that through his
influence he had had a medical ex-
aminer Of the Equitable Life Assur-
lnce society I'm Poughkeepsie dis
charged.
Accumulative evidence on the allot-
ment of the 1000 shares of stock Of
the Lawyers Mortgage company.
I,t t,k ,tsbt al ha Mutual fFn
insurance company were accredited
TO members of the finance board. was
taken in the examinations of Addian
Tselin and G.. Haven, and Frederick
Cromwell the present acting president
OF the Mutual Life.
Henry Morganthau, of the Lawyers
Mortgage Insurance company, told
how Mr.. McCurdy had become indig-
nant because he had not been allotted
shares in the Lawyers Title Insurance
and Trust company and to appease
him a block of Lawyers Mortgage In
surance compay stock was offered
him, but he would not take it, and
further gave Mr.. Morganthau to un-
derstand that no applications for
loans from either company would re-
ceive consideration from the Mutual
Life.
When Mr. Cromwell was on the
stand he was asked what eonsidera-
ton he had given to economics In
the Mutual Life.
He said he could not give the exact
figures for tire record. but that there
would be a saving of perhaps a mill
lion aud half dollars next year. He
added that the most unpleasant duty
he had had to perform was that OF be-
ing headsman in discharglng employees
during the last few weeks.
Late in the day the United states
Life company's affairs was taken up
by Mr.. Hughes The president OF
the company, John p. Mum, was
called to the stand. He submitted a
OF statements of syndicate
which were read for
the record. also statements of the cost
OF insurance to his company. He will
resume tomorrow.
District Attorney Jerome today re-
celved copy OF all the evidence thus
far submitted to the insurance inves-
tigating committee. There are numer-
Gus volumes