Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-16

last, was the whisper that Immediately
preceded the sensational testimony of the
custodian Of the so-called yellow dog
fund
Legislation in Midsession.
The senate and assembly in committee OF
the whole We're in midsession. The subject
under discussion was the report of the
Armstrong committee for the reorganiza-
ton of the business of insurance. Distin-
guished lawyers were in attendance--some
sent by the reorganzed management Of the
companies DESTROYS of retention in office,
some by organizations of policy holders,
who wanted to turn the reorganiZers out
to present their cases to the representatives
of the people of the state.
The dramatic appearance of Judge Ham
ilton came in the midst of a fervent speech
by the general solicitor Of the New York
Life Insurance Company, James II. Mc1n-
tosh He was arguing that the trustees or
that institution should not be legislated out
of office on November 49, that they had
proved faithful to their trusts; that the in
terests of the policy holders demanded
their retention. Mr.. Mcintosh was specific
With warmth of oratory he asserted that
the whole long investigation by the Arm
strong committee had failed to disclose any
wrongdoing by any single trustee, and that
the money spent as it should not have been
spent was handled by executive officers.
The New York LIES solicitor pleaded the
general practice in great corporations re-
counted the speed with which the board Of
the New York Life had acted upon the dis
covery of things to the member hitherto all
unknown, how 1t had amended bylaws and
started suits to the end that the RESPONSE
bility might be placed where 1t belonged
and the money of the policy holders which
the past executive had wasted, be restored
to the treasury of the company.
And Then Came Hamilton.
And then came Andy" Hamilton. upon
whom, with the dead John A. Mccall, the
trustees of the New York Life Insurance
Company have placed the responsibility for
the millions of dollars spent in shaping
laws the country over.
Hamilton was full of bitterness He came
with the memory Of a dead man IN his
mind. He came knowing that John A. Nc
Call on the stand before the legislative
investigators, had taken upon himself the
was Hamilton's purpose, as he soon made
it evident, TO speak for the dead. For
himself he accepted the epithet now a COM
mon term of insurance phraseol0gy. He
was the yellow dog" Drawing himself
to his full height he said:
why, gentlemen the yellow dog has
courage and fidelity, but these men are
the ours who have neither of these virtues
who Will shrink within themselves; ours
whom you cannot trust, and l am here
today to warn this committee that they can
not be trusted with the millions which
would be left in their hands if you change
the bill as they desire"
And so Hamilton told at last, and what
he told was that the money he spenE in
ten years service was spent even to the
last $144.00 recently learned of through
the Paris office, with the knowledge and ap
prevail of the entire board OF trustees CT the
New York Life Insurance Company, ex-
pressed through the authorization of it's
appropriate committees
Every Payment Properly Passed On.
In brief. Hamilton charged that every
payment made to him, even from the Paris
Office, and the $59,310 of steel syndicate
profits diverted from the company to the
legislative agent by ]. P. Morgan & Co,
was reported TO the auditing committee.
passed upon and thereby sanctioned by that
body
Hamilton, with an emotion bordering upon
hysteria, his hands trembling and his whole
body shaking beyond control begged the
Armstrong committee to Gust the whole
board OF trustees of the New York Life.
Without mentioning name, but making
his identity SO clear that everybody rec
ognized u famous corporation lawyer who
is member of the board of trustees of
as 1.-THE Pecksnlf of three administrations
who thinks he Is the Talleyrand OF the
present one
That Hamiltons disclosures must result
In suits for recovery against other trustees
of the New York Life is the opinion in
New York and Albany
Hamilton spoke for thirty-five minutes,
and when he finished dozen men rushed
up and shook him by the hand. He was
completely tired out by his effort. That
he had put the dead John A. Mccall IN
more favorable light and a number of the
trustees of the company in most unen-
viable position was the common view of the
general results of his speech.
Mr. Chairman and gentlemen of the COM
mittee,'' Mr.. Hamilton began, II wish 10
thank you for permitting me to appear at
this opportune moment In following my for
mer assistant of the New York Life. l wish
TO state that my remarks will be confined
entirely to the New York Life Insurance
Company and the men who manage it. For
the managers of the other companies have
a high and loyal respect, because so far l
have not found among them ours and
traitors.
II address you on one bill solely and /
address you in advocacy OF that bill, which
have not read, but the purport of which
appears In the papers. / shall urge simply
that 1t will be your duty to- report In favor
Of the measure that viii remove from oslice
the trustees of the New York Life Insur-
ance Company upon November 81 next ar5i-
trarily"
~ Effect of His Words.
Hamilton paused and looked around him
rs IL to see If his words We're having their
desired effect. He need not have been dis
appointed Every eye In the chamber was
upon him, and every ear strained to catch
the last syllable that came from his lips.
The crowd that had stood in the rear of the
chamber now filled the aisles, and some