The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-16

vouchers were given over they we're right,
and when ths auditing committee approve
them, then they stand as sponsors for them
II they did not approve them, then they
failed to perform their duty. And the
reason | come forward now is not TO say
or not to apologies for these vouchers
that were given in the form that they were
given, but to say this, that these men with
their responsibilities upon their shoulders
and not upon mine, have something to ac-
coun for, and they may talk about tbs
yellow dog but the yellow dog is a dog
Of courage and of loyalty.
But the ours who stood around this
funeral that has occurred, and the ours
who knew of these transactions and shrunk
into their shoes, they are the ours. and that
is the reason that | come to speak before
You and say that the great interest Of two
billion dollars Of life insurance and four
hundred million dollars OF assets can never
be safely intrusted to the hands and ad-
ministration of a lot OF ours"
HAMILTON NOT TO SPEAK AGAIN.
1t is not likely that Hamilton will make
any further statement. After he had
finished he walked over to Senator Arm
strong and the latter said
Judge, it ia understood that you say
tDdJ lne lnNebJlSdJlHB cOlltlHltee VIII uOt
permit you to make any statement. Now
II you want to give any information the
committee will sit any time you choose"
"Oh. no." said Hamilton, there is no
use of that. 1t would do no good. / have
said all | care to say
But could you offer any suggestions
that would help us?' asked the chairman
of the investigating committee.
NO, you're all right, just keep on with
this legislation. Don't change it. It's
the proper thing. It's right said Hamil-
ton.
HIS APPEARANCE VOLUNTARY.
Hamilton appeared at the hearing OF his
own accord and volunteered to speak. He
entered the Assembly chamber as James
E. Mcintosh. general solicitor OF the New
York Life, was urging the committee not
to turn the present trustees out Of office.
Hamilton listened for a minute or two,
then called a friend and whispered
II want to speak after he gets through.
I want to follow him. He's the tool OF
Perkins,
late president, to join him in the lobby,
where they had an extended conference.
Word was sent to Senator Armstrong asking
permission for Hamilton to speak, and 1t
was readily given.
HAMILTON SCENE IN GOOD HEALTH.
Hamilton's appearance was not that OF
a man who had beer critically i'll. He
looked az we'll as usual, but his face showed
that he had nerved himself for this under
taking. With him when he entered the
chamber was the son-in-law Of Anthony
N. Brady, and in the rear stood Hamilton's
James Cox Brady. son OF An-
thony N. Brady.
Hamilton talked in low tones, not per-
his voice to rise at any time. But
he spoke with earnestness. and at times
with passion. When he referred to the
death Of John A. Mccall he was on the
that his voice choked n he grasped
the side OF a desk.
Besides young Mccall and Mr.. Mcintosh
the officers of the company who heard Mr.,
Hamilton were vice-Presidents Kingsley
and Buckner and Actuary Weeks. When
he had concluded Senator John G. Fitzgerald
over to his side and shook hands
with him. None of the life insurance men
spoke to him and he was permitted to make
his way out Of the chamber. In the rear
lated him and several Democratic Senators
and Assemblymen held a short levee with
Attorney Mcintosh, however. said: we
don't propose to take any notice of Hamil-
ton. We don't care to answer him or to
him to pick a quarrel with us in this
manner
A PLEA FOR THE TRUSTEES.
The only surprise Of the day other than
the Hamilton speech came when H. Burn
ham Moffatt spoke for "a group Of policy
holders" Before he had been talking
holders were either the trustees Of the
New York Life or very close friends of the
Moffatt said that the chairman
Of the committee Of the ~polioyholders he
appeared for was Henry Sanger Snow Of
Brooklyn. Mr.. Moffatt's whole address was
trustees Of the insurance companies
to hold office for life.
Mr.. Moffatt spoke before Hamilton made
his appearance INC a remark that he made
recalled with some amusement after
Hamilton had concluded his speech. Mr..
had said that the only errors that
the board of trustees OF the New York Life
had made were in permitting campaign
contributions and the money given to
Hamilton TO kill hostile legisla-
ton.
But" he said, they knew nothing OF
these transactions until the insurance
Investigation was commenced
OTHER SPEAKERS OF THE DAY.
Hamilton was not the only one to demand
that the present boards Of trustees Of the
insurance companies should be legislated
out of office. Samuel D. Untermyer and
while Henry w. Taft and Mr.. Mcfn-
tosh spoke for the Mutual Life, and the
New York Life Insurance companies and
arguments, but advanced nothing
new.
Mr.. Taft was In a most oomplacent mood.
said the Mutual would accept every
thing the Legislature passed, but he, as
we'll al Mr.. Mcintosh. protested against the
provision limiting the Investment Of funds,
the retiring Of the present trustees and the
provision regarding the contingent reserve
fund.
Mr.. Warner said the time had come when
men Of distinction should be avoided in
trustees Of the life insurance com
aGive us honest and impa rtial men,
whether or not they are in the so-called
distinguished class" he said. I'VE want
new boards of trustees in order to determine
which Of the old trustees and officers shall
be sued in order to bring back the hundreds
Of thousands Of dollars Of the policyholders' 1
moneys they have s~quandered.'
Mr.. Mcintosh made an ea rnest plea for
the trustees Of the New York Life Insurance
saying:
aAt first the trustees Of the New York Life
Company thought it would be
il they came here to oppose this
legislation that they were only interested
IN securing their own tenure of Office. But
deliberation they have deemed It to
be to the best interests Of the p~olicyholders
that they should not be summarily re-
moved from office. Show me a trustee
who has profted a single dollar by any of
The transactions complained Of. You may
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