New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-05

q opposes
cit Is pretty well known " .d 5ha Mr. ma Hughes
oIso that tbe HIGHT man retained in particular
ease is in such aTS e1iGn 70 which You nimice
to your company? Al believe ne ooI want AGAINST
his wishes Would probably go out of politics? A
Well wouldn't want to go as a pretty generally
known Mea aren't ft0f they? Ais position might be
oAnd frequently the fact is that it s is S Sn
necessary to retain the rsnf hnk that is the sole
object. 10 get the right man.
THE NETWORK AGENT,
o-Now. has any money been paid by the =; New
York Life to William H. Bucse3y? sond Ave hun
dred dollars year for two ears Ara 81 tnn 6, a a
got So 900 than that year Mot as mnTn 1
that: about $500 He is retained by the company
q o'"What does he do? A.-weH Mr., Buckley was
formerly connected with the Insurance Depart
mert, and he knows all the lnsuraLre oGiS a.,
direct about ANYTHING that might occur as to the
companys interests anywhere t NAN NAV no i he
of injury to the company-but if want report tS
company in some capacity it is his business TO
s Fa is the total amount that you have paid
him? A-Yes We have never paid him any more
0Do ti he get money from Mr. Hamilton Al
have never heard of it. don't believe ne ever o a.
. Q.-Has the New-York Life paid any money 10
A. G. Field? A.-Never.
THAT Low INTEREST LOAN
The mysterious Hegeman loan of $4,000, to
which George w Perkins had testified in an
uniuminating fashion. then taken up.
with surprising results. Mr.. Hughes began:
o-Now. orr attention has been called te a loan
made by the New-York Life Insurance Company
o.@Which for a number of years-or, I won't
say number of years but for considerable v Ps
you explain with whom that loan was negotiated?
Do You Know why it was made at that low
rate of interest? A.-No, dqn know II was
pany Ny attention was not called TO it, and moth
ing said 10 me about it or course, Mf.
Ono The point is simply how it happened It
should be made at that rate OF interest. Al uoh
OFT is below the market rate for money for
large Part of the time. Al don't know. I had
Loan too, with Mr.. HeSeman himself at a 10" rue
of interest. and it was increased to per cent or
Q{Sa mean Nth the hf9 metropolitan hfe'
oW WI aid You get loan from the Metropo
two years ana a half 1 not so surs about the
0G o@Are YOU director of the Metropolitan LITER
ond were you at that time? Ali fIt w 1nsnq
mean what officer representing the Metropolitan
e was That loan made first to you on January
o. 1898? A: Al l.. think that is the date
S.-knd the rate Of interest IA per cent?
A&Yes: I think that is right "a, :. n.o,
A& Yaho it 'n stil On exists ;ti;11 's-'
mis- vas FsneT Tsfs? and a ray through the
Q.-And March H. 1904. an adaitionaet loan %
s25ooo was made to you by the metropolitan Liner
Ht n per cent? rs A-9 3Ssons, ~. v.,r 1904,
"a o"An nd is that the amount still outstanding
0~And the rate Of interest remained IA per
o9 Until Jul! July 1887 1857 Fg g9es shtf 5 Seh5
QAnd thsn it was changed f;l to ~ per cent?
Q-win you kindly explain, Mr.. Mccall how you
GQgd Justly tst 4 Of 4aR TF9 Wond haTe
taken it at lower rate if they would have given IT.
LIE were re- interested a9T 81 in seeing that investments
were made at proper return? A:oN n do {ou
e9o 6p to tBs | IS Suck Sae copHy Mr.
Hughes.
MCALL SALARY LIST.
The salary list of the Mccall family in the
New-York Life was then preached. It viii be re-
called that testimony had already been taken
showing that E. E. Mccall, brother of the presi-
dent. had begun the case out of which Judge"
Hamilton subsequently drew counsel fee Of
$4,000 The examination this point fol-
lows:
OIL understand that Albert McClave is employed
by the New-York Life in some capacity? A-Yes
Ole is a son-in-iaw of yours believe? A
o,-Now,- what, contract has he with the New
think he draws $4,000 year, and he receives $500
o.EAnd what is that for? You mean a part
of his stipulated compensation? AYES; 1t is a
part of his compensation. He gets sl0Wo a year.
o~Has he any commissions or ,, interests in re-
neWals? A-No; nothing of that kind except what
he writes himself If he writes risk himself that
So.GThen he gets the usual commission? Ayes
Q.-But aside from what business he personally
writes his total compensation is $l50O a year? A
o-Attention has also been called to the fact that
there is John A Koran in your company. A
Q.-Is he related to you? Ayes he is; he is
Q-What is his relation to the society? A.--Au- |
dtor at the Paris Office
o,-How much does he get? A.-seventy hun
Q-Has he anything in addition to that specified
salary? A--No.
Mr. Hughes then went at length into the ac- |
ton brought by the New-York Life to recover !
$4,000 paid In taxes on insurance premiums. |
This action was begun by Justice E. E. Mccall. |
attorney for the company before he went on |
the bench, carried up through the courts by !
Judge Hamilton who succeeded him, and, !
after much litigation, finally won in the Court of
Appeals. For his work in this case Judge" |
Hamilton received one-third of the money and |
certain other percentages contingent sums |
involved, aggregating S134,O0O for the one case.
Mr.. Hughes dwelt upon the immense cost to |
the company of such payment and empha- !
sized the point that Judge Hamilton was a |
paid employee of the New-York Life, but Mr. Nc |
Call insisted that it good bargain Mr. |
Hughes ELECTED the fact that $4,000 not 500 !
COO of this amount, still unpaid was available |
as counter claim to the $685.. 600 that he had |
testified to having paid to Judge" Hamilton on |
his request without any receipt and drawn from !
several 'non-ledger" accounts. Mr.. Mccall add !
ed that he had never connected these two cues |
lions in his own mind.
Mr.. Hughes then reverted to the use to which !