Daily Kennebec journal., 1906-03-24
INSURANCE PROCEEDINGS
Begin Against Expires. meC"roy |'
Ais, of Mutual Life Go.

New York, March 81 nc - IN
piaint in a series Of eight acuon'
ready begun oy the Mutuai h'ie -
s,,rance co. against Former Presidei.
Richard A. McCurdy, his son, fopei'
r.. and the firm of Charles IL. nay
mond & Co., the companys loiinei
.nctropolitan agents, was made puphc
today. .
This particular complaint is agaii'sl
E,--Prcsi6cnt McCurdy and contains
r:,lo separate causes of action. Each
OF these charges Mr.. McCurdy WIN tne
waste of large sums of money peiohs
ing to the company, through a'ie5
unfaithfulrcss and neglect in the ui'-
charge of his duties.
The first five causes seek recovery
i'll the aggregate of S292,5O0. as aiiesc"
contributions to political parties slhCe
Jan. |, 1855. Thesc contributions aie
stated to have been $4,000 in l63o'
$35, 900 in 1900, and $4,000 i'll 1904. 10
the National Eepublicar Campaign
Committee; $500 in 1904 70 The Re-
publican Congressional Committee anc
100000 embracing the various con-
tIibutions testified by Senator Platt TO
have been made TO the Republican
OF these five causes of action, the com
plant says that these payments were
unlawful and iEprovident' and were au-
thorized and permitted by e%-President
McCurdy Through want of ordinary care
and diligence"
The sixth causes seeks to recover the
sum of S22-, 600 embracing the $Ogp alleS-
cd increase of annual salary drawn by
the cx-presdent since June ], 1901, with
out authority. as it is claimed, and under
circumstances detailed in the testimony
before the Armstrong committee.
The seventh cause seeks to recover
$500 90 as the aggregate OF the respective
sums of $225,0c0 drawn quarterly from the
company for the last six years of Nc
Curdy's presidency on the voucher Of the
committee on expenditures and under cir
cumstances detailed in the testimony be-
fore the Armstrong committee.
The eighth cause deals with the rcla-
tions OF Louis A. Thebaud, son-in-law of
eN-President McCurdy, with Raymond &,
Co, and the "gratuitics and rates of com
| mission" received by the firm
The final cause of action deals with the
sum of s1,2S2, Si1 received by Robert II.
| McCurdy as commissions from 1856 to
November. 1905, as superintendent Of the
| foreign department. and charges that by
racson Of unfaithtuIness ana neglect by
| the eX-president these commissions had
been allowed at rates which the enormous
| increase in the foreign business had rem
| dered cxorlitant and unnecessary.
Finally the company demands judg-
| ment against cx-President McCurdy for
| the sum of S3370 3l1.G6, with interest, as
| damages for alleged unfaithfulness and
| neglect.
| Stuyvcsant Fish, being asked about
| Mutual Life matters, said:
Il have not as yet committed myself
to any existing poIicyholders' committee.
published reports to the contrary notwith-
| standing.
| There will lie more reason for an ac-
| tive movement looking TO the election Of
new insurance directors when the l.egiS-
laturc shall invalidatc the proxies already
| given ard provide means whereby the
| policyholdcrs may elect new boards
Alexander L. Orr. president of the
| NtW York Life Insurance Co, in an
| interview today. denied the accusations
| made by Thomas W. Lawson Of BOs-
| ,on that agents Of that company have
| tccn giving rebate on policies and Civ
| Ing away policies i'll return for proxies
Mi. Orr SAID:
| From the day of the PRONUNCIATION
| Of the Armstrong bills / am Informed
by active members of the executive
| 1t partmcntS Of the company we have
| not sent out a single letter to policy
| hoidcr asking for a proxy. l think the
| ny vas Feb. IS. Reports to the con-
| trary are absolutely and unqu,lificdly
false"
Mr.. Crr's attention was directed TO
thc charges made ny AIR Lawson 'hat
tic Nm York Life was giving away
| ifc insurance policies i'll rctLrn for
proxies.
Il saw that we were giving policies
away" replied Mr.. Orr, "lnd it struck
ne as Il most remarkable accusation,
ara 4 serious one as well. We have
sent to Boston directing our represent
tativt; to investigate thoroughly with
| Il View to getting the necessary cvi-
GCncc as to who is responsible for tn"
| circulation Of such reports. T'hcre is
| rnt IN 'ota Of truth i'll the report, and
Steps viii hc taken to punish tho per-
son or persons guilty of the misrepre-
sch;ation ana manufacture of state
:nthis calculated to criminllIy work tc
tie injury Of the New ork Life in the
pre- misses therein set forth.
IF there is one thing above another
we desire to crush out" said Mr.. Orr
1T is the practice Of rcbating. Any
agents who rebate are DISCHARGED just
IA" soon as the proper evidence is pre-
scntcd TO us. Rcbating is the one
thing the company will not tolerate
rot IL 1t never gets dollars worth Of
new business. We are in hearty ac-
cord with that portion of the ARM
slonS measure which makes il Il
Criminal offense for al. agent TO give
a rebate"