New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-11
QUESTION OF COMMISSIONS.

QUESTION OF COMMISSIONS.
Q.-well. apart from competition. is q rate of
charge Of the netropoiitan district ssoSoo year
net IN your Judgment an excessive rateg Al
would come UP as matter for serious considera-
Off there were no other reasons to justify 4.
would it be excessive rate? Al cannot say
without / know what the other reasons were that
Odd Charles H. Raymond 8 Co. ever
Panya Al don't think cales Il Raymond 1sP would Si
oepd Robert II. Mecurdy N ever ne threaten to
leave to go with another company A.--That
leave me for airy reason in the World ''O'-'N
o-Dd Mr. Thebaud ever threaten to leave you
10 so with another company? Al give you the
Q.-Has the competition OF any other company
had any effect upon the rates Of g H. Raymond
Co. A.-oh. you are wandering into ell
cannot match you IN fencing wits and don't want
o.-Dou't you know that Raymond & Co. had
special rates? A.No.
eooS ee aees q goEr e0psng wers ggng
dcally, all things considered. as understand ii.
SALARY TAKEN UP.
Mr.. Hughes then took up the question of Mr.. Nc
Curdy's s15o0o0 salary. He asked
o.-WIIl you state what steps were taken when
S r salary r. I Is IN 6e es fep
the inor Is AoThe committee on salaries
did not. I never requested an increase in my
salary In my life.
attention or aid SONS individual. first ask you
you wGsd be bs 6E to hsge the ss
CO. ln1ittee on salaries was in session. had met
went into the room. and some other salaries were
discussed and when the question same to my own
did leave the room and when returned the gentle
airy. I told them the matter was entirely in their
own hands to DO with It as they saw az There
my salary. at that sum-. ! felt highly oompn-
p a ns t yo ad a anv right i vas o take
that salary? All did not should not be sitting
o.-What grounds We're advanced for the In
oTease3 A1The gensralI DO not ,, want 70 sound
other people would do that for me. I took It an
the Committee on saTies Who o. wers Se MOUTH
piece Of the finance committee and of the trustees
ecu ;,o5 would have continued to render SERVICES
services at Whatever they paid me, no what they
the tncreasef Al certainly did not I was not
Q.-Do you know of any president of any insur-
ancs company that receives as large salary! A..
I believed that there was no other life insurance
president got so much
o--Did you think that you had any right to take
money from the policyholders of the Mutual Life LIE
compiiInented' but did not say that took it as
amatter of compliment. took 1t in recognition OF
services by the COMMITTEES on salaries who were the
nouthpieoe of the board.
which you gave to the company or the character Of
such Services ae cuafVe IN their nature they
must be until physical or mental infrmity over
to be considered, the acquired familiarity, expert
ence. breadth. all Of those things fair to as
mans efficiency or knowledge begins or Just where
sO 1 s Mr tRsge npsI 9s n PSlh to IN ask a @
rnittee on salaries is appointed by the president?
o.-By whon7 Att is appointed by the finance
coInmitteet from their own number: -,-. -.
fact &r Mccurdg hat these Se'e are
pointed by the board Of dlrectorsr a-W we
o.-And the trustees. are elected in the manner
that has been fully discussed here? A-oh. yes
QUESTION Of PROXIES
OF understand that there are running to you
and to DR. Gillette some tweptyl is. thousand prox
control yourself the election Of the board of us
Mr. Mocurdy replied With discussion Of the
ODD you have s9ything to 90 WITH 1ao5 the e IN
grease OF me s+ az % YEAR? AN Cannot Tecoect
whether I was present at the committee meeting
o.HWas that suggested by. you? Al have no
Twas IT opposed by your A.-No. it was not
opposed by me, certainly not because l think MI;
more, too
with annarent reluctance Mr.. McCurdy then
read a statement prepared by his attorney, James
M Beck, showing the expansion of the assets OF
the Mutual during his service as president, from
sl1aooaooo to s44OoooO0O Following this there was
a long discussion, in which Mr.. Beck Senator Tul-
Iy Assenblyrnan Rogers and Mr.. McCurdy all took
part as to the general proposition OF large salaries
as 70 the relation between responsibility and salary
Following this Mr.. McCurdy made a rambling ad-
dress upon the missionary character of lis in
surance saying IL was designed to extend to every
hamlet and village the benefcent influence Of life
Insurance, and not an object to declare divt-
dend that might amount to 81 a year, sum the
insured might go and spend for cigars and bill
Iiards. The founders OF the Mutual he declared,