Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1905-11-04
M((URDY'S RECORD
IN MUTUAL life
His Sen Travelled In
Special Car With
Family
SUDDEN LOSS OF MEMORY
ON CAMPAIGN CONTRIBUTIONS
RECORD OF McuRDY's PROFITS
IN BOND sYNDIcATES-sAYS
HE WILL NEVER RESIGN
HIS OFFICE.

New York, Oct. 19.-RiChard A. Nc
Curdy, president OF the Mutual Life
Insurance Company, made the state.
ment today that he had no intention
of rcsigning, that he was elected to
serve until June next, and that moth.
ing could or would drive him out.
II was announced from the District
Attorneys office that no action would
be taken regarding the George ].
Plunkitt affair, which was turned over
to the District Attorney yesterday by
the legislative committee that is inves.
! tigating the insurance companies.
Closing one of the most sensational
ana strenuous weeks of the insurance
Investigation, the committee, just be.
examination of Richard A. McCurdy,
with the exception of few details
he is TO supply next week. McCurdy
| has been on the stand the greater part
Of the three days of this weeks ses.
sion, and some of his testimony has
been the most startling Of any that
has been adduced before the commit
tee His testimony today, however,
was very much of a technical nature,
though 1t was of much value to the
committee In its work.
Trust Companies Prosper.
When he resumed the stand this
morning 1t was TO take up his testi
mony as TO the Mutual Lies Connec'
ton with trust companies. The infor'
nation given by McCurdy disclosed
that the trust companies with which
the Mutual Life was connected became
very prosperous soon after they were
taken up by the Mutual. Two cases in
point were the Morristown Trust Com
pany at Morristown, n. j., where the
McCurdy family live, and the United
States Mortgage and Trust Company.
The former Is now controlled by the
Mutual Life. McCurdy testified that,
besides being a director OF this trust
company, he was a large stakeholder
and would take more stock If he could
get il.
The Mutual Life keeps balance OF
not less than 100000 with this com
pany, on which II draws from to 3
per cent. The latter rate has been
paid only since September. McCurdy
did not know the holdings of the 9TH
er members of his family in this COM
pany.
In the syndicate operation, McCurdy
said, he participated not with the idea
OF drawing bonds, but to obtain his
share of the commission allowed by
bankers.
Carries Heavy Insurance.
McCurdy was asked what life insur.
anCe he carried, and he was unable to
say at once, but James NJ. Beck, his
ing when the policies were taken out,
for what amounts and the plan. These
aggregated 5000 900, all in the Mutual
McCurdy testified that he was also in
sured in the Equitable the Washing
ton and the Connecticut Mutual.
Before he left the stand McCurdy
said he paid $4,000 for his apartment
in the Grosvenor building, which Is
owned by the Mutual.
When McCurdy was excused, his
son, Robert II. McCurdy, was called to
explain some charges for travelling eX'
penses in 1904. He said one of his
duties as general manager was to Wis
1t the agencies about the country
Three such trips were made, the eS
penses of which aggregated about So.
800. McCurdy said that while or one
trip he was accompanied by his faith
er, mother wife and the latter's maid
but that the expense accounts were
for himself individually and did not
include those of any other memb,r 81
his family or party. He had private
car on one OF these trips. He could
not tell why the expenses on these
trips were so large, but said he would
give the details later.
McCurdy was followed by W. W.
Richards, comptroller of the Mutual
who explained the manner in which
the Mutual acquired some properties
by foreclosure.
Mocurdy's Syndicate Deals.
During the day President McCurdy
handed in the following lists OF syn
dictates in which both he and the Mu
. tual Life Insurance Company were in
terested:
Participation Of
Syndicate McCurdy Profits