The Providence news. (Providence [R.I.]) 1891-1906, 1906-01-09
ONLY SURFACE
OF SCANDALS
Insurance Investigating Com
miitss Got Only Part Of Story.
ABOUT MUTUAL LIFE ms. co.
Statements Made That Raymond & Com.
pnuy Gets Other Enormous Rake Offs.
Many Records Gone, ills Said
ABOUT MUTUAL LIFE ms. Co.

New York. Jan. 9.--The Armstrong in
vestigating committee only scratched the
surface OF conditions In the Mutual l.itc
Insurance company. 1t became known
yesterday that not half was told 10 the
state investigators about the relations cN-
listing between the Mutual Life and the
firm of c. II. Raymond a Co
Raymond a Co. were the general agents
for the metropolitan district Son, Robert
II. McCurdy was At one time member
ofthe firm and he was succeeded by Louis
Thebaud, President McCurdy's son-in-law.
The Armstrong committee learned that
son McCurdy received from the Mutual
as his share OF commissions paid 10 Ray
mond & Co. $SSO,728 since 1889.
son-in-law Thebauld got $685., S2S since
1898, $li7,5S7 being his share OF the COM
missions in 1904.
Besides the Raymond & Co. commits
sions. son McCurdy drew fro mthe Mutual
almost 81 100000 i'm commissions on the for
eign business and I'm recent years a salary
OF $4,000 a year as general manager.
The statement was made yesterday that
Raymond a. CO. were getting other ennr-
NOUS rake-offs from the Mutual Life.
which put the total up 10 really stu
pcndous sum.
What the nature OF this undisciosed
rake-off was could not be learned. but II
was reported that it might amount 10
as much again as had been paid in COM
missions.
$4,000 TELEPHONE CHANGES.
1t also became known today that the
Armstrong committee missed many inter-
esting things that have been perpetrated
by a clique of officers and directors. For
instance, one group of trustees. it was
he, all nA fVnV ha
Mutual i'm the last few years between S4o.-
000 and $4,000 In telephone charges.
That is,'vouchers have been presented
by these trustees. showing payments TO
that amount made by them in the interest
of the company This. it is said, is only
one OF many instances OF payments to this
inside clique.
Persons in insurance circles who have
known of these things for several days
are beginning to ask what has become of
tho Mutual self-investigating committee.
William IL Truesdale, is the chairman of
this committee.
other members are Stuyvesant Fish ana
John w. Auchincloss. The committee
made a partial report on Nov 16, but not
a word has been heard from il since.
II has a high-priced staff of lawyers.
consisting OF D-Cady Herrick, cambridge
Colby. James b. VIII and William O.
Choate: yet nothing has been done by
the committee, so far as the policy hold
ers are aware, in two months.
D-Cady Herrick is a member of the
Equitable's board OF directors, and he
was also affiliated with some or the New
York Life officials in matters growing
out Of the insurance scandal Bainb-idge
Colby was James w Alexander's lawyer
during the controversy in that institution.
Not only have the above undisclosed
matters become a matter OF common re-
port in insurance circles, but II is known
that small-sized wagon load OF records
have disappeared from the Mutuals sup
ply department
This is the department over which the
Mutuals legislative generalissimo, Andy
! Fields presided, and IL is thought that the
! records were removed before reorganiza-
! tion in the Mutual began.
II is said further that Andy Fields is
still on the payroll OF the company at
I $1,000 a year So far as the polcyholders
have been informed the Truesdale invest
| igating committee has taken no steps TO
| locate Fields.
The legislative supervisor. II was learn
ed today, was seen only n short time ago
| in Boston. and II was thought that he was
heading for Canada.
President Peabody OF the Mutual was
| told yesterday that there were reports 10
| the effect that efforts were being made in
the company to block the works of the
| investigating committee.
II haven't heard of any and / don't
believe it," was his reply.