The Havre herald. [volume] (Havre, Mont.) 1904-1908, 1905-10-20

New York, Oct. 1s.-Testimony in
the insurance investigation, which was
resumed Tuesday after a weeks adj
journment of the legislative commit
tee, taken because of the death last
week of s. Fred Nixon, speaker of the
assembly of the state of New York,
was most exciting throughout the en-
tire day, and only the repeated threats
of Senator Armstrong, chairman OF the
committee, to clear the room prevent
ed violent demonstrations of disap-
probation of the witness, who was
Richard A. McCurdy, president of the
Mutual Life Insurance company
As it was, however, there were Jeers
at several periods of the days testi-
mony that temporarily interrupted the
| testimony. These came when Mt
| Hughes, the counsel for the commit
tee, asked questions that Mr.. McCurdy
was reluctant to answer, or evaded,
and were made by the crowd that stood
at the back of the room.
Where this important investigation
is going to lead or where it will end
| has caused no small amount of con-
! lecture and doubtless in some quar-
ters, anxiety. With the many threads
that have been taken up and dropped
| before they have been followed to their
ends, in order that some new lead may
be taken up, and with the additional
| features that are disclosed with almost
every days hearing, the interest grows
| more intense.
In Mr.. McCurdy's testimony Tues
day a feature entirely new was dis
closed, and this was that the Mutual
Life Insurance company employed a
literary bureau to send out to the press
OF the country news matter that was OF
benefit to the company
syndicated News Stories.
This information was elected during
the probing of the legal expenses ac
count. 1t came out when a voucher
for the payment of $4,000 to Joseph
Howard, Jr., in 1904, was produced. An
other voucher for the same amount
paid in May, 1905, was marked IRE
PAYABLE on demand" and ''for profes
sional services" Mr.. McCurdy hac
vfsed the vouchers and explained
that Mr.. Howard was a newspaper cor
respondent and that his professional
services consisted in syndicating news
stories. Pressed further, Mr.. McCurdy
said: Mr. Howard was correspond
ent for the Boston Globe and severa
other papers, Mr. McCurdy further
said that he paid Mr.. Howard about
81, 500 a year for these services, anc
that the voucher for May, 1905, was
"really loan or an advance"
, During the earlier session OF the
day an attempt was made to obtalf
from Mr.. McCurdy the reason for re
ducing the dividends on policies as the
business increased and the assets pilet
I'D. This question was prompted b,
) the large number of letters received
! from policyholders by the committee
and cited facts and examples. These
letters came from all over the country
Mr. Hughes explained, but he read ;
number from policyholders who LIVED
In this city. The examples cited were
principally on the policies of the ter
payment life plan One in particular
, for SO 900 that in 1876 drew a dividend
of s55.76, had been gradually cut unit
In 1904 1t received only 49, The write
incIosed tables and statements from
the company's reports and said tha
this was in the fare of the reserve In
creasing year after year.
Refused to Discuss the Question.
To all the questions ON this matte
| mt fortified
with the information required; tina
! these were actuarial matters, and
, when pressed for his opinion, replied
that he refused to discuss the question
or to enter any discussion. He woult
proffer a witness, his actuary, who's
business it was to know these things
: but as for himself he would not dis
cuss the question" Mr.. McCurdy'
| demeanor was so insistent and a
times so defiant that the spectators
bent forward to catch every word ant
, stood on tiptoe, expecting every mo
, ment to hear him directed by counse
to answer the question. His profile
of another witness was all that pre-
vented steps being taken toward hi
Indictment. When Mr.. McCurdy would
not offer the information himself, MI
Hughes started on another line of In
: quiry.
Later in the day Chairman Arm
strong explained that since the in
formation desired by the committee
could be obtained by another course
1t was agreeable to the committee t.