Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1905-12-28
viii Deposit 100000 as
Mark Of Good Faith.
INSURANCE OFFICIAL SAYS
Mr.. MORGAN is A LIAR
Former Superintendent Of Insurance
Payne Wanted to Gust "Crook"
Burnham From Mutual Reserve.

New York. Dec. 27.-Andrew Ham
ilton, the legislative agent for the New
York Life Insurance company who ac-
cording to testimony, has been en-
trusted with hundreds of thousands Of
accounted for $235,00O, has been
heard from by the insurance investiga-
ton committee, but has declined to
make an accounting.
A statement by Mr. Hamilton was
read for the record today. 1t was pre-
sented by Secretary John c. Mccall, of
the New York Life, who went to Parts
to secure an accounting from Haml-
ton. In his statement Mr.. Hamilton
says that he is unable to produce any
books or accounts because he UNDER
took the legislative matters for the
life insurance companies with the un-
derstanding that he was to make no
accounting. Absolute secrecy was nec-
essary in retaining assistants, there
fore no checks were used In making
payments.
Mr.. Hamilton went into an exhaust.
i've explanation for the reasons for or.
ganizing this confidential service, as he
characterized 1t, covering his methods
of work and citing a number of legis-
latlve bills in which he had been inter,
ested. A list of expenses from 1899 to
1904 was appended to the statement
The sum of $235, 600 unaccounted for,
he says, would be greatly reduced by
his running account still unsettled and
open, and as a matter of good faith
pending settlement he offers 10 de-
posit 100000 with the company.
Secretary Mccall was questioned by
Mr.. Hughes as to what further light
he could throw on the statement OF
give no information. He did not ques-
ton Mr.. Hamilton's figures nor the
large amounts for travelling expenses
He asked Mr. Hamilton for full
statement and relied upon his honesty
to explain everything. He did insist
that Mr. Hamilton produce checks or
checkbooks but Mr. Hamilton said he
had none.
Calls Morgan Liar.
When Mr. Mccall was dismissed,
Henry d. Appleton, of the state insur-
ance department was called. He COM
pleted his testimony begun last Friday
and during the examination was told
that Mr.. Morgan, former president Of
the Bankers Life Insurance company,
had testified that Mr.. Appleton said
that 1t would cost the Bankers Life
$50, 900 to re-incorporate. Mr. Apple
ton somewhat heatedly said; IF Mr..
Morgan said that he is a liar"
Louis F. Payn. former superlntend-
ent of insurance OF the state of New
York, was called to the stand late to-
day and explained large number OF
appointments of confidential examln-
ers on the ground that an unusual
number of examinations were made
during his tenure of office. Mr..
Hughes produced list which showed
that In 1897 two examinations were
made and In 1898 two more were
made, while In 1899, the last year Of
Mr.. Payn's administration. the number
had not been brought out when ad-
journment was taken. The affairs OF
the Mutual Reserve company we're ta-
ken up with the witness and during
this line of examination Payn stated
that he had been opposed to Mr.. Burn
ham as president of the Mutual Re-
serve, and said he had tried to get him
out
Mr. Hughes asked why he had tried
to get him out and Mr.. Payn flatly
stated because l thought him a
crook"
Mr.. Payn will resume tomorrow.