New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-10
HAMILTON AND rCALL.

Mr.. Fowler and his associates of the New
York Life Insurance Company committee de-
serve great credit for the thorOughness and
Observation-Disclosures of their report on the trans
actions of Andrew Hamilton and John A. Nc
Call They have taken the right course TO re-
store public confidence in the company and
10 recover for the policyhoders, if they can
be recovered at all, the vast sums Improperly
diverted from the company's treasury by these
two men. The community has so long had
insurance scandals for its daily food that
no revelation can greatly surprise it. Yet, with
all il has known of Hamilton 10 prepare it, the
new record of profigate and unexplained eX-
penditures must come with something of
shock. The Fowler committee had access TO ac-
counts of the Paris and other branch offices
which were not at the command of the Arm
strong committee and these expose Hamilton's
actions in much more unfavorabe light than
the testimony in the legislative investigation.
Mr. Hughes showed pretty clearly that Ham
ilton was the head lobbyist for the company,
and that its books were juggled TO cover up
payments TO him which il was assumed he
really expended for the protection" of the COM
pany in accordance with business code which
considered bribery justifable for the defence
of corpora tons Now the committee of the truS-
tees. with a fuller knowledge reports that mo
''other conclusion would seem to he permissi-
bile than that Hamilton used for his own pur-
poses $4,000" and that your committee can
"Only conclude that Hamilton used and dis
counted all these notes amounting to $6S.oOO
for his purposes" and had them paid
from the profits of one of the cOmpanys syndi-
cate transactions. Altogether. Hamilton drew
81 ,347 3S2 Al, for large part OF which he has
made no accounting. Even if it be assumed
that he was secret service agent"-euphe-
YrYnt
for the diversion of any such sums. for his
allowance for legislation was sometimes I'M
drawn. while Mr.. Mccall was lawlessly turn
ing over TO him money appropriated for other
purposes.
The committee calls attention TO accounts
which Mr.. Mccall ought 10 explain, and it is
greatly TO be regretted that his physical con-
dition seems to be such TO make him unable
to answer even the simplest questions. 1t is
even more TO be regretted that when he was
before the Armstrong committee, processing to
reveal all these matters with perfect frank
ness and conscious innocence he neglected TO
mention most important and mysterious pay
ments from the insurance cOmpany's funds.
which. In the absence Of explanations that he
or Hamilton alone can give are open to the worst
Interpretation. In view of the committees
port. there is little prospect that the money
paid over by Mr.. Mccall TO await HamtOn'S
accounting will ever be returned to the for
mer president. 1t is more likely that both he
and Hamilton will he proceeded against TO re-
cover additional sums improperly expended.
Many Of the men prominently associated with
the insurance companies and involved in their
abuses have been bitter toward the newspapers
and have charged them with the circulation of
sensational and unjust scandals about insurance
affairs. But here is committee of insurance
trustees passing as severe a judgment on the
waste OF insurance funds ms any newspaper
critic has penned and making as shocking a
revelation as any reporter has pictured.