New-York tribune., 1905-12-28
PAYN TELLS OF WORK.
NeUer appointed Any One on Cor
poration's Recommendation.

DOrGt1On s accommodation.
Louis F. Payn was down last week waiting
for Mr. Hughes to get ready to examine him.
but so many other things came up that Mr..
Payn could not be reached. He was on hand
again yesterday to hear the end of Mr.. McCans
testimony and what Mr.. Appleton had to say.
and then he went the stand himself. After
saying that ne was State superintendent of In
surance from 1897 to 1900. he said that he had
never employed any one on the recommendation
Of a corporation and never would. He explained
that he appointed seven confidential examiners
because of the large amount of work there
TO do. When he entered the department he said,
he had knowledge When he left he had
little very little.
He said that he was led to examine the Mutual
Reserve by reports that that company doing
crooked" work The examination follows:
Sou stated tr that the Mutual Reserve had
Odd you examine to find the truth Of these
Q.SDid you instruct the examiner? Al don't
know that gave him any SPECIFIC instruction
Al cannot tell 1T that ii'' 10 60 s'0no '9
50 91XOu did no not propose to force e., Nj Burnfam
..tQ2.5.I7 .Q.-Whty2 Ai-Because u I thought he was a
Q;-You wanted to get rid of Burnham? Ayes;
Q.-Why did you have so poor an opinion of Burn
back again and later made bond statement I
that the bond statement Amounted to ifH nothing foT
the mere was no s1c9 fqnd IN N existence ruled that
reported to me that these people taking these
When We made up our minds to examine their
origin we began to get these letters from Wills. He
ment had been stealing for the last few years,
knew about the stealing that settled Wis sf With i ne
Q.-Wel, whether it settled Wills not, did you
charges we're well founded in the interests Of the
Poleyh9IddeFFs hold # not for wills 1.-The charges
We submitted it to the Attorney General.
THE REPORTS SILENCE
Mr.. Hughes referred to the examination Of the
Mutual Reserve in 1899 after the charges had been
made against the company. He continued;
ter of the charges in this examination? Al
wouldn't pay any attention 10 charges as far as
Q.-Why did you not either establish the charges
or disProye taen1? 49,, AaL think that you viii md
Q.-Why did not the report deal with it? Al do
Q.-The report was silent as to the integrity OF
the officers and their management Al gave no
o-Would it not have been proper for you YOU to &c go
de9 iea Of o coreotBg it? An my report set forth
that had reported the bond matter to the At
his jurisdiction TO bring suit for the recovery of
the money
In regard 10 his examination of the Mutual
Life Mr.. Payn said that it at the request
of AIr. McCurdy. Mr.. Hughes asked:
o.-That' was unusual, was 1t not? A-Yes.
insurance companies. All these great corporations
are afraid IF & teaf bem am inored that T there eGe are
actuaries striking the companies, and they are
C.-How extensive was that examination? A
The usual % one o a4G I6er m9 Wha did you nave in ve
ACThe examination we have had for fifty years
or in the interests Of the poiicyholders No
Odd it not occur TO you that they ought TO
ing of the expense of examination. Had gone
further it would haze cost from one TO two mil
existing circumstances, under the law. 10 go any
Q-What do you mean? Al understand that
think the Superintendent Of Insurance has any
QDid you have In mind that you t had the pGWer
Conditions? Go dHit5ni9? No s '''''e' ''-
KNEW A. c. FIELDS
In regard to his acquaintanceship with Fields
and Hamilton, Mr.. Payn's testimony was fol-
lows:
Q-Did you know A c. B4elds2 A-,oh. yes
five years. l have no acquaintance with him.
know him when I see him o. s,,o ,,+
know where or when first met him I know only
0LYou knew that there q fund proposed
by insurance companies to prevent hostile legisla-
i95 o1You knew there bureaus for this pur-
DGSs1 S3Dd you know that Ndr Fields was connected
with the Mutual Life? A--Yes.
O-Dld you know he had house in Albany?
A-Not until last spring.
O-Did il not occur TO you to examine into the
exnenIitures of large sums Of money on the pre-
feIt that * was help the policyholders against
adverse Iesislation2 Al never went into that.
OGT)id ii never occur 70 you TO examine into the
I.rSal EXPENSES Of the Mutual Life? A--Never.
0-Did you know Andrew Hamilton? A--Oh.
0'2Bow long have you known him? Al have
had a speaking acquaint tance seven or eight years
~ Did voU know what he did for the New YOrk
Life? Al didn't know IT, but could guess
n HOW could you guess? A---well, knew that
~ Vas employed at the office of the New-York
life While he appeared once in & while on legiti-
nate roatters 1 concluded there We're more things
thai he did than knew about. You would hear
oF tiTa in Texas then IN Kansas. then in Illinois
80 1, didn't take a fellow long TO make up his
mind that something
~ H-T1idp't il TO you then to ind out now
mich the New-York Life was putting up for this
INA NJ work? A.-No; (. didn't occur TO me then
T. vas understood that most corporations, insur-
ance and railroad, were subject 20 that Kind OF
tax.
PRISONER MAY HAVE TAKEN COAT.
Police Sergeant Nicholas Toppin OF the ID Pre-
cinct Jersey City. went home on Tuesday night
,.it,,or, his new fur overcoat. The coat was left
I9aneinc Ia the sergeants on the second floor.
Ti7s coi,rtrooLn the floor above. and the prs-
onars pass up and down the main stairs It is sup
posed that ons of the discharged prisoners took the