Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-11-11
METROPOLITAN
LIFE INSURANCE CO.
Mad, Campaign Contributions
Nhich We're iOr Moral and
Net POIitical purposes.
ABSOLUTELY NON PARTISAN.
In 1900 i Gave to Democratic aud Re.
publican Parties --- To Defeat
Silver hsresy"

New York, Nov, l0,--Closing the ses-
sions OF the week today the Armstrong
committee OF insurance investigation
has behind It mass Of details and
figures which, while OF apparent little
interest TO the laity IL Of inesthnuble
value to the committee. iue greater
part Of the week has been devoted 20
the Metropolitan Life Insurance COM
pany, the examinations OF President
Hegeman and James NJ, Craig. the ac-
tuary OF the company, being OF a most
technical nature. When adjournment
was taken today the committee had not
finished the examination Of President
Hegeman and he viii be called again
next week.
Just before the hour of adjournment
today Mr.. Hegeman was excused and
Joseph Howard, Jr., a writer who has
been employed by the Mutual Lite was
called TO the stand. lie Identified
vouchers that he had signed for money
received by writing advertisements and
reading notices for the Mutual Life.
Mr.. Howard afforded much anluse-
ment by his declaration that his only
regret was that he could not sign more
Of these vouchers. His only complaint
was that he was not paid enough for
his work This too, was the complaint
on the witness stand OF Charles Smith,
who also does writing for the Mutual
Life and receives $4,000 a yea? for It,
Mr., Howard said he had been em-
ployed 80 or 40 years by the Mutual
Life, but the vouchers went back only
10 1899, There we're 10 OF these Vouch-
ers, aggregating Sl6,62b. Mr.. Howard
denied that he has ever sent any dis
patches by wire, and was very siren
uous IN his assertion that he had new
er written a line about Insurance for
any paper on which he was employed
characterizing Il as dirty trick"
William Barnes. Sr., formerly OF Al.
bany. who now resides nj Nantucket,
appeared before the committee al his
own request and was the llrst witness
OF the day, Mr.. Barnes's name APP
peared In the investigation several
weeks ago when vouchers were pro-
duced for legal services.
Mr.. Barnes explained his oonneo-
tlon with the Insurance companies, an
swered the questions put TO him and
when his examination had been con-
cluded asked to be allowed TO make a
statement He was given the privilege
and had proceeded but q little way
when he was stopped by Senator Arm.
strong because Mr. Barnes's state
ment WAS an argument In defense OF
insurance companies along the lines
brought out In the Investigation.
President Hegeman OF the Metropoli-
tan company said his company had
made but two campaign contributions,
ond they were both in 1896, One thou
sand dollars was given to the Palmer
and Buckner gold Democratic) mana
gers and $500 to the National Repub-
lican committee, These contributions,
Mr.. Hegeman said, were made with
the approval OF the finance board and
we're more moral than a political
move to assist IN defeating tho "l6 to
| heresy,"
A statement was produced showing
that Andrew Hamilton had been under
an annual retainer Of $1,000 from May
10, 1892, and from that date TO May,
8, 1904, had received for special ser-
Vices and retainers the aggregate sum
of S35,295.
Mr.. Hegeman said the Metropolitan
Life Insurance company obtained
bonds for It's agents from either the
American Surety company or the Ma
tional Surety company. Mr.. Hegeman
holds 10 shares OF the National. The
bond required OF agents is $50 and the
premium is recovered from the agent
by the company.
II was shown that the Metropolitan
Life made loans OF 100000 to 100000
at III per cent interest 10 William
Reade OF the firm OF Vermilye & Co,
on various dates in 1901 to 1908 The
market rate for call loans was at the
time from AZ TO per cent, Nermlye
e Co, were the bankers OF the Metro
polltan Life at that time, and when
Mr.. Reade resigned from Vermlye &
Co, and went into business for himself
he became the company's banker,
Mr., Hegemans explanation for maxi
Ing these loans below the market rate
was that valuable services had been
rendered the company and Il sought
TO repay tavors where II could Mr..
Hegeman said that through the watch
funess Of Vermilye & CO.. the Metro
politan Life Insurance company has
now 100000 or S4,0O0,00O which could
be burned up without impairing the
solvency Of the company"
On bonds and stocks the Metropolitan
has cleared. according 20 Mr., Hegeman,
about Sl20O,0o0, and on syndlcates IN
which Vermilye & Co, Invited the COM
pany 20 participate the company has
made about s6500O0.
In dagp rlbinp tho Investments ~ tha