The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-10-11
Ninety Thousand Dollars
Put into Politics.
DR.. GILLETTE PAID 1T
The Money Was Campaign: Contrib.
utions From the Mutual Life. Nc
Curdy and Grannis Also Testify.
Nixon Being Dead, Inyestiga-
ti0n Terminates for Week.
(By the Associated Press }

New York Oct. 10.-The sessions
of the Insurance Investigating Com
mittee were terminated for the week
at the adjournment today because of
the death of s. Fred Nixon, speaker
of the Assembly of the Legislature of
New York at his home in Westfield.
The testimony today did not elicit
any information of a sensational ma
ture beyond what had been discounted
in the testimony of previous witnesses
The feature was the presence as wit
nesses of the executive officers of the
Mutual Life Insurance Company.
These were President Richard y.
McCurdy and Presidents Grannis
and Gillette.
While it had been hinted last week
that some expenditures charged to
legal expenses, might have been con-
tributions to campaign committees, 1t
was announced definitely by DR.. Gill
ette that the Mutual Life contributed
$4,000 to the Republican National
Committee last fall, that in 1900, Soo,-
900 was contributed and in 1896 S15,-
900 was given for campaign purposes
Dr.. Gillette testified that he paid
these amounts personally in cash, and
later in the day Mr.. McCurdy said that
while he knew campaing contributions
had been made he did not know the
amounts. He said that no contrlDu-
tons had been made to campaign
committees before 1896 and that no
contribution to State or municipal
campaigns had ever been made in
this or any other State The c0ntriDu-
ton Of $4,000 to the Congressional
Campaign committee. Mr. McCutdy
said he knew nothing about until il
came out i'm the testimony last week
For Legal Expenses.
An interesting statement was made
by Robert Olyphant when he was on
the stand early in the day Mr.. oily
phant is chairman OF expenditures ana
he could not tell what the $25, 900
items drawn to his order were for be-
yond that they were for legal expenses
He said the company maintained
confidential fund for expenditures for
which no voucher was taken and no
receipt was received. These payments
were made upon the assurance of an
executive officer that they were all
right.
Vice President Grannis knew little
about the contributions to campaign
funds, but justified them on the same
grounds as President John A. Mccall
of the New York Life, that the free
silver plank in the Democratic plat
form. was a menace to the interests
Of the policyholders.
When Mr.. Crimmns was called he
assumed the entire responsibility for
the terms of the contracts with G. n.
Raymond & Co. by which that firm
made such large profits. When the
method of the expenditure of the
$4,000 items was inquired into Mr..
Grannis admitted that the general
solicitor could get $4,000 any time
he wanted it without disclosing for
what purpose he wanted it. and with
out rendering any account of it. He
further said he never knew where
cent of the money spent by the gen-
eral solicitor won't.
In taking up a detailed list of the
cOmpany's expenses. DR.. Gilletts said
that the company last year paid
$4,000 for luncheon for the en-
ployes. 1t is Il custom for the COM
pany to furnish their clerks with
luncheon. This is at the rate of
about $3.50 a day.
President McCurdy was or the
stand all of the afternoon session. Mr..
wha. Nh. .Thebaud. his son-in-law
was getting out Of the business of G.
H. RAYMOND & Co, and said he did
not think if was any of his business to
ask about M, Thebaud's personal af-
fairs. He said the company did the
business to get the commissions. and
that was all he knew. All contracts
were made without his knowledge.
Witness said on the matter of salaries
that he never requested that his sal
arv be raised. and all such increases
he took as complimentary to his man
aeement OF the business. They were
alwavs made by the committee on sal
aries of their own volitiOn.'
\ phiIanthropic Enterprise.
Toward the close of the session, Mr..
McCurdy made the startling state
ment that an insurance company was
not an institution founded to make
money for the policyholders. but was.
or should be a great philanthropic en-
terprise founded to increase and
spread it's benefits over the earth.
sThere has been great mistake
made = ba said about the real pro-
vince of life insurance companies in
these batter wears People have been
led To believe that the main purpose
was to make money for its policy-
holders In nv view that is not The
purpose of such companies. They are
eleemoSvpary When a man ius1Irt n
in a company he snouio TAKE INTO con-
sideration the fact that he has en-
tered a great philanthropic concern
that is In duty bound to spread itself,