New-York tribune., 1905-11-30
Decrease.

and son of the president, then took the stand and
produced a cable dispatch indicating that MS
fathers letter to Judge" Andrew Hamilton IN
Paris had been delivered to the Judge. This let
ter as Mr. Mccall, sr, has testified, urged Hamil-
ton to return and appear before the committee, or
at least to send accounting of the vast sums
he had handled in various yellow dog funds. the
amount of which, shown by testimony to date.
exceeds a,c00000. 1t is believed there are many
more payments not yet discovered. Mr.. Mccall
testified that no trace could be found the books
Of the New-York Life of the $4,000 paid Hamilton
by J. 2. Morgan & Co through notes taken up and
later charged against syndicate profit, transac-
ton which was discovered by Mr.. Hughes, although
withheld by the company in its alleged complete
statement OF syndicateas Mr. Hughes gave young
Mr.. Mccall some good advice about the way to
make his mission Of bringing Hamilton back sue
cessful, and let him go. .,@.
The probing of the Mutual Reserve occupied the
greater part of the afternoon session. Mr.. Hughes
reviewed the purchase of the Provincial Provtdent
AssSGa0q = in b8 lS 81 Bhs @ Re6Ss R lies IN s to P
The apparent reason for taking the company over
who said: ...-...s..-- z..
There was a possibility that the threatened
scandal in this company due to the fact that II was
charging too low rates. might awaken suspicion
that your company was ciafglng @ 700 low W. The
purchase of the Northwestern Life was also com
r. When Mr. Hughes attempted to read on the rec
ord the report of the State SupernteBdent OF IN IN
counsel Frank a Plat objected III Insisting f6 fna
opportunity should be Afforded 1Or
Mr.. Hughes conceded this right and read the eN-
tract.
The report criticises the company for 'unusua
generalization in settling death claims the re
ductton Of claims and compromise with pc PQhfSy fS
holders and settlement. The report SAYS that ti,
law requires that claims be settled ninety daN'@
after proof of death is fled but that the ma! Sc
Elements long drawn out that great hdlu
ship was often occasioned the benehciaries. -
out of total death claims Of 8581 only 2558 were
paid IN full There were compromised 10 clalle
and 402 unpaid. - a. ..- M.
and sundry charges OF various kinds was Sl9Zo,oo-
in three years out Of total original nsuranfe ,f
of 50 02S,74T and that on December 30 l$i the ot
standing claims amounted to $S8l, ,429 So
-r.. ~. OBJECTS TO THE REPORT.
Vice-Presfdent EIdridge of the Mutual Reserve
who was on the stand at this time protested vehe-
mently against this report. declaring that the su-
pefintenGent should have supplied specific instances
of delay. Mr.. Hughes inquired about the average
time elapsfng between the fling of claim ana IL
approval. Mr. Eidridge fixed this at slXly1sgIWS
in 1904 and all but seyenty-nye paid The tllne De
tween fling and payment he fixed a. between 1aI l9i
expenses OF the company m 1901 WllcR aISIfsj
TO SS7 l5 were excessive but The witness supplied
cases of exceptionally expensive litigation; ~
entry or Sl62S13 OF Judgment lapllllles#
the last annual report appeared under ssalarles.
rent, Office expenses, ETC. attracted Mt HughFs,
attention. This was criticised by the lhsLLdiis ~
Department deliberate attempt TO conceal lld
bilties, Mr.. Eldridge denied this WITH MaI-lIsi I-li
Carolina and some British death claim litigation
Mr. Hughes then brought out lhe facE lIdS ~
Mutual Reserve was GeHarred absolutely IRON az
ing business ~ Minnesota California and Massa7
chusetts and III Illinois and kentuck& opeItaSEl
instated and lighting its case IN Ca fs
The committee viii meet on Monday ana Lht ias
day Of the year. Ii viii report back 70 tne lesis
IatUre early in January