New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-06
TEROMES BROOM READY.
CLEAN INSURANCE SWEEP.
Plans TO IRdict Hi Trustees in
Syndicate Deals.


e 4 the officials had already been under in
s,c,rpent The intimation came from Mr. Je-
-,ro,'s Office that an effort would be made to
,,s,ct every life insurance trustee who took
,,-t in the syndicates. Mr.. Jerome will pre-
-. the evidence now IN his hands on all cases
!. ~syndicating" 10 this grand jury
The importance Of the signed pledges which
~, Jerome has from certain nfe insurance on
,,,s who have gone 20 Europe is apparent 1t was
o,s Yesterday that he had such a pledge from
pichard A. McCurdy, ex-president OF the Nut
"a, rse who sailed last week. with the state
r,er, that he would probably never return.
~b,s was explained yesterday as meaning that
- vould not return for any civil suits De
T.,osv NicoIl who is Mr.. McCurdys attorney
=. she civil suits brought by the Mutual Life
Its Yesterday that he knew there had been
.o-,s correspondence between his client and
-. District Attorney before the formers de-
,er+ure but that he did not know Just what
o--anrement had been made.
robn s Wise counsel for Louis A. TEebaud
son-in-law of Richard A McCurdy, said last
,,gb, that Mr. Thebaud had received no request
.-on Mr.. Jerome 20 hold himself ready to return
- This country. Mr.. Thebaud sailed for Paris
ia Mr. Wise. without giving any promise TO
return.
The board Of trustees of the Mutual Life was
weakened yesterday by the resignation Of two
tr,stees-Jarnes Speyer. the banker. and Dud-
ley o!cott president OF the Mechanics and
Farmers Bank Of Albany. This leaves six
vacancies, and the remaining trustees will
seek TO I'll them by the time OF the next meet
ing the latter part OF the month Cornelius
vanderbilt has practically resigned. and the
70
resigning trustees in sympathy with the
poIicyholders' movement, and while they may
NOT have places the Fish committee they
VIII undoubtedly lend valuable assistance
Their designations were predicted by The
Tribune.
The February grand jury looked into consider
able evidence about the Mutual Reserve Life In
surance Company. and passed the case over TO
the present grand Jury. William Rand. former
Assistant District Attorney. appeared before
Justice O'Sullivan In Part Z General Sessions.
representing three officers OF the Mutual Re-
serve-Frederick A. Burnharn. president: George
Burnham jr,. vice-president and counsel. and
George Edridge. vice-president He asked a
hypothetical question. as follows;
Suppose there should be laid beforethe grand
jury charges that the persons have named used
money OF corporation 20 pay their personal
debts. Could you give them fair hearing and
be free from all prejudice?'
This question was contested by Assistant Dis
tict Attorney Mott, who said that the challenge
was only allowable when one of the defendants
was under Indictment. Then he agreed to waive
this technicality without calling the courts at
tsntOn TO the fact that Mr. Rand. when an
Assistant District Attorney. had raised the Same
point in the Dodge-Morse case.
GRAND JURY FOREMAN CHOSEN.
Edward Van Valkenburgh, a retired merchant
Of No. 524 Fifth avenue. who had served in the
same capacity before was selected by Judge
0suliyan foreman OF the grand jury. Mr..
Rand wanted 10 know If the foreman held a
policy in any life insurance company and II he
hae followed the Armstrong investigation.
Mr Van Valkenburgh said that he held a
policy in the United States Life and that he had
rad the accounts OF the insurance investigation.
but that he had not yet formed an opinion. He
said he had heard OF President Burnham. but
that he had never heard OF the other officials OF
The Mutual Reserve.
= suppose IL would be impossible remarked
Judge osullivan. Ito find an intelligent person
n New-York City who has not formed opinion
about the insurance situation"
The other talesmen We're questioned in the
came way. -Four talesmen We're finally excused
or the ground that their opinions were too pro-
rounoed. One OF the talesnnen who failed TO re-
spond was William G. Rockefeller who lives at
NO. 2s2 Madison avenue lie failed TO answer
70 his name
can cay nothing 70 the press beyond con-
Nfh'lg my resignation" said James Speyer yes
Ieoay afternoon 20 q Tribune reporter. II is
known, however. that he has been dissatisfied
4OF some time with the way in which reforms
7" me Mutual We're being handled. This Goes
'O mean that he viii take an active part in the
'@'oHn movement which Mr. Fish is TO head II
Akely that he VIII keep in the background.
@''hough his sympathies are certainly with the
ieiorners. His resignation may be a part OF the
general movement OF banking houses TO resign
NON cirectorates which are likely 20 be under
..ie IN the next few months
DIRK LIFE on ARMSTRONG REPORT
-Ne Special meeting OF the New-York Life
D'S'o' which was held yesterday afternoon. was
a''ei'oed by practically all OF the directors now
N'e CITY The Armstrong report thor
sHy gone over The question of the suits
SealAst The estate Of John A. Mccall and Andy
-"ahlton cid not come up. II is understood
MAJ nothing Viii be done in this connection until
'ehn O. Milburn. special counsel returns to the
a'y on Wednesday. The following resolutions
~ere adopted.
Of iH4Ee4. That this board recognizes the merits
Tie Irssrr - number OF the proposed amendments 10
tie 49, ..:ce law presented TO the legislature by
of v,ht.HS Iylg committee, many OF the provisions
boars ~ nave heretofore been adopted by this
repfs ,s resolutions OF the board or by amend
boarS - - ne bylaws OF the company. and this
ulrtoss MY approves OF and indorses a large
Pesci..ol ne recommendations Of the committee.
aGysss5' o. further. That this board having been
aries ~ ~ its executive officers and IT'S actu-
Dosed 49, 49, some OF the provisions OF the pro-
jurio1s VIII. .n their Judgment, be highly in
cOn,s,o - me interests OF the policyhodeTs OF the
Crease sia VIII tend 10 lessen. instead Of tn
by tE. nc safety Of their investments represented
impsiy premiums already paid and will seriously
purnos.esH sHe carrying out by this company OF the
boafS sloI loI which IL was incorporated. and this
and .S..Nolrrlng N such advice. hereby authorizes