The Birmingham age-herald., 1905-11-11
METROPOLITAN OPPOSES 16 ID 1. Made Two Campaign ContI- buttons to Defeat Bryan Al WRITERS ARE PAID WELL Man Who Draws $sooo Year Says His only Complaint Is That
 He Is Not Paid
 Enough.
Al WRITERS ARE PAID WELL

New York. November 10.-Closing the sessions of the week today, the Armstrong committee of insurance investigation mas hehind if A mass of details and figures which while of apparent little interest to the laity. if of unestimable value to the committee. The greater part of the week has been devoted to the Metropolitan Liie Insurance company. the examinations or President Hegeman and James M Creig, inc actuary of the company, being of most technical nature. When adjourn ment was taken today the committee hao not finished the examination of President Hegeman and he will be called again next week.
 Just before the hour of adjournment to- day. Mir Hegeman was excused, and Jo- seph Howard, Jr., writer who has been employed by the Mutual Life, was called to the stand He identified vouchers that he had signed for money received TOT writing advertisements, and reading no- tices for the Mutual Life. MT. Howard afforded much amusement by his declara- tion that his only regret was that he could not sign more of these vouchers. Ills only complaint was that he was not paid enough for his work. This, too, was the complaint on the witness stand of Charles F. Smith, who also does writing for the Mutual Life and receives $S000 year for it.
 Calls It "Dlrty Trick"
 MT. Howard said he had been employed thirty or forty years by the Mutual Life but the vouchers went back only to 1899. There were ten of these vouchers aggre- gating sl6,625. MT. Howard denied that he had ever sent any dispatches by wire. and very strenuous in his assertion that he had never written a line aborA insurance for any paper on which he wsts employed characterizing 1t as dirty trick"
 William Barnes, sr., formerly of AL bany, who now resides at Nantucket, ap- peared before the committee at his own request, and was the first witness of the day. MT. Barnes appeared in the investi- gation several weeks ago when vouchers were presented for legal service. MT Barnes explained his connection with the insurance company; answered the ques- tions put to him, and when his examina- tion had been concluded, asked to be al- lowed to make a statement. He was given the privilege and had proceeded but a
  ator Armstrong because MT. Barnes statement was an argument In defense of insurance companies. along the lines brought out in the investigation.
 Made Two Campaign Contributions.
 President Hegeman said that his com pany had made but two campaign con tributions and they were in 1896, when 5000 was given to the Palmer and Buck ner gold democratic managers, and $750O to the republican national committee. These contributions were made, he said. with the approval of the finance board, and were more a moral than a political move to assist in defeating the '16 to 1 heresy." Mr. Hegeman also testified that his company had paid money to Andrew Hamilton. statement was produced showing that Hamilton had received from 1892 to 1904 for services the sum of $S5,- 295 Hamilton worked in a number of states and his duties were similar to those he pursued for other insurance companies.
 Loans at Low Rates.
 The subject of loans was taken up. It was shown that the Metropolitan Life made loans of $100,000 to $20O.000 at 11a per cent interest to William Reade of the firm of Vermilye &s Co. on various dates from 1901 to 1903. The market rate for call loans was at the time from AZ to per cent. Vermilye & Co. were the ban kers of the Metropolitan at that time and when MT. Reade resigned from Yer miiye & Co. and went into business for himself, he became the company's ban ker. Mir Hegemans explanation for mak- ing these loans below the market rate was the same as he had given for mak- ing the loans to John A. Mccall. presi- dent of the New York Life at the same low rate, that is, that valuable services had been rendered the company and It sought to repay fayors where it could. MT. Hegeman said that through the watchfulness of Vermilye Go. the Metropolitan Life Insurance company has now three or four millions which could be turned up without impairing the sol vency of the company.
 On bonds and stocks the Metropolitan has cleared. according to MT. MT. Hege- man about $1. 100000. and on syndcates in to which Vermlye & Co invited the com pany to participate. the company has made about $650,0O0
 company MT. Hegeman said that the Metropolitan Life Insurance company owned 6267 out of ten thousand shares of the National Shoe and Leather bank of this city No dividends were paid as the bank is accommodating its surplus.
 Witness detailed the organization of the Metropolitan bank and said the of ficers and clerks of the company were stockholders. It was organized five or six months ago, so has not yet paid dividend It was organized with the ex- pectation that it would handle the checks of the Metropolitan Life of which there are several thousand day at times; further, in order that the company might have profitable tenant in its new build ing, and because 1t was thought an ad- mirable location for bank. The Metro politan Life owns about 40 per cent of the shares of the Metropolitan bank.