The Montgomery advertiser., 1905-10-18
McCURDY FRETS AND FUMES;
 HUGHES IS CALMLY ASSISTANT

| more knowledge of what advertising
 his company puts out than the casual
 reader. This was the business of the
 advertising department, he said. I MT, MeCurdy did not know whether | some one irt the Mutual Life Insurance 1 Company's offices received the coupon | attached to the advertisement, which
 the reader is instructed to forward te l the company for further information
 and whether the coupons went to C. H
 Raymond & Co.,. the Metropolitan | agents of the Mutual s.
 | Peculiar Dividends. MT. Hughes announced that the com
 mittee had received a large number oi letters relative to the dividends on the
 policies of the Mutual Life Insurance Company. Some of them Mir. Hughes | read to the witness. saying those he
 read were from policyholders in New
 York City One writer who had taken
 out a policy in 1865 for ss.0oo. on the
 ten payment life plan, said his divi- | dend fin 1876 was $55.76. In 1881 it was cut to $39. in 1891 it was reduced to $20, | and in 1904 to 8. This. the writer said. was in the face of the reserve in- | creasing year after year.
 1 Mir. McCurdy said MT. Hughes had the wrong witness. It was the actuary
 who looked after the calculation of dividends. Had he been notified day | ahead he would have been fortified
 with this information.
 | Mir. McCurdy explained that this in | vestigation was going outside of what was contemplated when the committee was appointed by the Legislature. He l said he understood this was to be an examination of insurance methods, not an inquisition.
 MT. Hughes replied that it was in- | deed an inquisition.
 We will have occasion to call your | actuary, but you have been in the in surance business for forty years and | want to learn what you know about | your company" said MT. Hughes. You are it's President and receive $l50,000 I in salary. I want to learn for what | you are responsible"
 You are trying to prove me fool" | Che witness retorted.
 without commenting on that which l is obvious, let me ask you to tell us | to the best of your ability some of the | lines on which your company Is con 1 ducted." said Mr. Hughes. Mir. McCurdy insisted that his ac- tuary must answer the questions on dividends paid. and how they are cal culated. He declined to enter any ex- pfanation further than that the policy holder above referred to had a reduced rate policy. Mir McCurdy's examination was re- , stunned at the afternoon session. lie said that he did not know who the other three men were who rented the house with Fields in Albany. When MT. McCurdy was asked what 4 Mir. Fields was doing in Albany, he said:
 He was looking after legislation. If legislation was not watched in every State, every corporation would be cul- pablo for not protecting its interests. | If legisl @tion was not watched, the il- surance companies would be legislated and superintended out of business in | five years" s-s su
 was that MT. Fieldss special busi- ness in Albany"
 !.That I cannot say, but will state that it is legitimate and proper for any insurance company to have a competent and successful man to watch Legislation" Did you take any pains to ascer- tain whether the money paid out by the law department was legitimately or illegitlmately used?''
 T did not. I knew the accounts were correct or there would have been complaint"
 Some of Those Who Got Money.
 It was brought out that Fields has paid sums of money for professional services" and legal services" to George Plunkett of this city; Charles
 
 now member of thsrBoard of General Appraises at this port; Louis F. Mur- ray, M. E. Mullaney, James Q. Larlinl, John E. Ash and others
 Mir. McCurdy was shown a voucher for $3,S06 and one for $2,500 paid by the Mutual Life Insurance Company to Andrew Hamilton in. May, 1901, for le- gal services. He knew nothing about It. This money, 1t appeared later, was for matters pertaining to legislation in Missouri.
 A voucher for $13,333 was for money paid to the New York Life Insurance Company flor adjustment of mutual account" drawn at MT. shorts request. This was a payment for legal services in the legislative pool that was brought out several weeks ago. Mir. McCurdy said he had not looked into the account for legal expenses last year. He accepted the report of MT. Short as an honorable gentleman"
 MT. Hughes then showed to MT. Mo Curdy a voucher for the payment of $5, 900 to William A Fricke formerly Insurance Commissioner of Wisconsin. and letter from Charlton T. Lewis. an attorney of Madison. Wis. The let ter stated that MT. Fricke would ac- cept a retainer ito see that the inter- ests of the Mutual Life should come to no harm In that State. MT. Mo- CufOy approved the voucher put COulu not remember the details.
 A voucher for payment in 1903 of $S 100 to s. $. Olds flor professional services in matter of Michigan" one third of which was to be paid by each of the three big insuranceV companies next came up.
 MT. McCurdy said:
 MT. Lewis told me he had spent one winter in educating the minds of the legislators of either Michigan. Wiscon- sin or Ohio with regard to certain leg islation affecting the insurance com panies. He proceeded to the capital of the State and discovered the resi- dences of political God-parents, the re- lations and neighbors of the IegisIa- tors. It meant Journey after journey up and down the State and the induc- ing of men to go. too, who would ex- pect their expenses and something else.
 '''I'E en he vert to Washington ana sfent some weeks getting acquainted with the Senators and Congressmen from that State. He got on a friendly speak to them of the damage the leg islation would do the insurance busi- ness and got letters from them back to the legislators in the State Assembly, For this he received $5.000 for his own services and expenses for travling and employing men. but not one dollar ex- cept for legitimate purposes.'
 What did he pay men for?"
 Paid to Listen to Him. t.
 Well, many of them were layFfS and he had to pay them to sit and IfS- ten to him. I say this explains the matter and 1 resent the suggestion that