The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1906-01-03
or of national supervision OF Insult

vor Of national supervision OF Insult
ance. Under the same heading S97,.
900 Is CHARGED for 1905 and the in
creast was due, he says. primarily to
the troubles in the Equitable Life As
surarce Society.
In concluding his statement, MI.
Hamilton says that the i%njunctions
of the president of the New York
Life to nee were always unmistakablY
explicit that my expenditures and my
work were to be strictly confined with
In the Limitations Of the law Of the
land. These instructions have been
faithfully followed to the letter. There
has never been q disburseu ent made
by me Of the company's funds which
trespassed upon the instructions given
ms by the president. Of this company
and I want it thoroughly understood
that not one dollar Of any moneys
ever paid to me by the New York
Life Insurance Company has been used
Improperly or fol improper purposes,
or in a way that transgressed either
the statutory law or the moral law"
A statement Of legal expenditures
other than those to Hamilton vas
produced by MI. Mccall, showing a
total tor such expenditures OF 81, lO3.-
920 from 1901 to 1905.
Secretary Mccall WAS Questioned by
Nj. Hughes as to what further light
he could throw on the statement OF
Mr.. Hamilton, but he said he coulo
give nc information. He did not
question Mr.. Hamlltcn's figures nor
the large ancuats for travelling ex'
penses. he asked Mr.. Hamilton for
q full statement and relied on his
honesty to explain everything. He
did insist that Mr.. Hamilton produce
checks or check books, but Mr.. Ham.
llton said he had none.
When Mr.. Mccall was excused
Henry D. Appleton, OF the State IN
surance department., was called. He
was told that Nj. Morgan, fTmer
president of the Bankers Life 1nsur.
arc, Company, had testified that Mr..
Appleton had sad it would cost the
B mixers Life $50 900 to- reincorpor-
ate. Mr.. Appleton someRhat heated
~ said: IT Mr.. Morgan said that, he
Is a liar"
He was called to order by Chairman
Armstrong.
L ,uis F. Payn, for ner supsrinten-
dent Of insurance Of the State OF New
York was called to the stand late In
the day and explained a large number
of appointments Of confidential exam,
liners on the ground that an unusual
number Of examinations were made
during his tenure Of office.
MI. Hughes produced a list, which
showed that in 1892, two examinations
were made, and IN 1898 two more
were made, while in 1899. the last
year OF Mr.. Pays administration the
number had not been brought out
when aoj urnment was taken. The
# IRIS OF the Mutual Reserve Life
Insurance Company were taken up
with the witness, and during this
line Of examination Mr.. Payne stated
that. he had been opposed to MIR.
Burnham as president Of the Mutual
Reserve, and said he had tried to get
him out.
Mr.. Hughes asked why he had tried
to get him out and Mr.. Payn fatty
stated because 1 thought him a
crook"
A point OF interest IN insurance
matters developed In the Courts to-
day when Justice Greenbaum, in the
Supreme Court, granted more. .
The Court granted writ. of man
damus to Clarence a.. Venue and one
hundred other policy: holders. direct
ing John A. McC Ill, president of the
New York Life, to furnish them
with q c ymplete list of the policy
holders.
The board OF trustees OF the Mutual
Life Insurance Company held a meet
ing today and elected E merry McClin-
t, ck, the acsuary Of the company; as
vice president and director. he will
be in active charge of the company's
technical IF iirs. President elect
Charles A. Peabody was also ell: cted a
director. These two su C ed E!lhu
Root and Ru US w. Peckham.
The trustees voted to abolish the
Metropolitan agency of G. Raymond
& Co., and all agencies are to be on a
salary basis. :,