Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-01-01
IT IS ALL over.
Insurance Investigating
Committee Adjourns
Without Waiting for Hills Ties.
timony Regarding Retainer.
Mass OF Evidence will Be Presented 10 The
Legislature for Consideration.

New York. Dec. 31.-After four
months of most arduOus work, the leg
islative committee on insurance invcs-
tigdtion appointed at an extra session
of the last Legislature adjourned Sat
| urday night.
Since midsummer through the work
ings Of this committee, every insur-
ancc company incorporated under the
laws of New York state as well as
many Incorporated under the laws of
other states. have been subjected to
searching examination as to their bus
mess methods. The testimony has been
interesting throughout and sensational
at many sessions and in these four
months the public has watched closely
the day-by-day developments. Satur-
day was given over to the presentation
of documentary evidence which was
not in readiness for the committee I'M
til tn present time. Joel G. Van else,
actuary of the Equitable Life Assur-
ance Society. and Rufus Weeks. actu-
AIRY oil the New York Life Insurance
Co, were the witnesses. They were put
on the stand to identify the statements
made that Mr.. Hughes read for the
record.
Late in the day somewhat of a stir
was caused by the announcement by
MIR. Hughes that Il letter had been re-
ceived from David 3. Hill, who protest.
ed against the hearing being closed UNI
til he had been heard as Il witness in
regard to his retainer from the F1quita-
bic Life Assurance Society. Chairman
Armstrong announced that notwith-
standing Mr.. Hills attitude the conf
mittrc would have to complete its work
without Mr.. Hills testimony.
Not the least interesting testimony of
the day was that of George II. SiCkleS.
I, real estate agent of Buffalo. who had
formerly been employed by the Equi-
table Life. According to Mr.. Sickles
Gage +. Tarbell. vice president of the
Equitable. displayed a plan to get
around the Relating method. Mr.. Tar
bell on the witness stand said he OPP
posed rebatinG. Mr.. Sickles testified
that Mr.. Tarbcll suggested that letters
he written 10 policyholders and eventu-
ally these letters were to be bought
back at Il price.
Mr.. SicklcS was asked il ne had Civ
ell rebates and he said lie had. after
appealing to Chairman Armstrong who
ruled that the statute of limitations
would protect anyone who had violat-
ed any of the statutes.
Did you buy letters?" he was asked.
Ne" replied Mr.. Sickics.
After some further testimony. the
committee adjourned subject to the
call Of the Chair in case of an emer-
gency before the Legislature assem-
NNaI,nStj Tn, aIi
Chairman Armstrong paid very sra-
clouS compliment to his fellow members
of the committee. the counsel and the
newspaper men and said that he recog-
nizeG the most arduous work and duty
that all had been called upon to per-
form and expressed his gratitude at the
fOrbcurancr and assistance that had
beer accorded him.
After adjournment the committee
held All executive session.
In the investigation closed tonight
men of national reputation have fig
ured prominently.
Former governors. senators. life in
surance presidents. lawyers prominent
in political Giro les. actUarics, book
keepers, cashiers and clerks-all have
come under the searching scrutiny of
Charles T.. Hughes the officiating coun-
sci for the committee.
Some of thc witnesses called were
Jacob Fl. Schiff, James H. Hyde. Ben
jdnlin 3. Odcll. Chauncey NJ. Depew,
Thomas G. Plat. Thomas Il. Ryan, Ed
ward II. Hartman. George w. Perkins
Richard a. McCurdy, John A. Mccall
John II. Hegcman. Senator John r.
Dryden. Gage +. TarbeIl and Superin-
tcTdeiIt Hendricks
Every company incorporated under
the laws of the state sent u representa-
tive in the person of an officer to be ex-
am'ned. In most instances this was
the president of the company In some
II was the actuary. while in others it
was subordinate officer, but in all in