The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-03-22
GRADY BILL BOUGHT THROUGH
According TO VTcE-PREsTDEyr
CORREA OF THE NOME 90.

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WAan wrstins N l00s-Graay's vers
den % sa-slA.0o0 sheiaea apsat
A mosus nierasa seel<Ag LalwAt.
The hsd memories Of the half donen
witnesses that Supt. Aoeohkiss Of the Do
partmsnt Of Insurance called yesterday
at HIS once. lbs Broadway. did not @a@
him In finding out who gos the remaining
$4,000 Of the $4,000 paid out by Elijah
Kennedy 70 push through favorable
legislation. The facts Of another fund
did come out. however. It waS testified
that $4,000 vas given by various Oon,-
panie~ to the late George p. Shsldoa.
president Of the PheniK Insurance cona-
pany The donors. though. couldn't re-
member for what purpose sheldon used
the money except for vague legal sx-
pense.. That was in IsOt-0S when tho
companies werv fighting tine anti-compact
bill in Albany.
william ~ Kremer &c tho GERMAN
American remembered giving sheldon
~ sOO in three instalmsnts. Vice-Presidsns
" IT. A. Correa Of the Home con-
,buted Is 900 and Marshall s. briggs
ot the Williamsburg City Fire Insurance
Company said that he presented the re-
naming o.. 500 To Sheldon Each Of theSa
men told on the Witness stand Of Shcldonia
high repute for integrity at the time.
They had no idea that their money might
be used for Legitimate ends sheldon
died unds. indictment for larceny Of 81. 600
and was the man who lent 100000 %
OfficiAls 81 the Insurance Department
under previous administrations.
Although Mr.. Hotchki-s secured nothing
from Mr.. Correa's testimony 70 find what
legislators received gifts he did do
cover from him that sheldon succeeded
Kennedy 40 the Board OF Underwriters
legislative agent in Albany. sheldon
worked for the repeal u the Grady re-
insurance bill OF 1904. supt. Hotchkiss
said that his department h trying 10 sst
this bill repealed now.
A 10 the Grady hin. which is said 10
have benefited three reinsurance conn
panies and to have been a detriment %
more than two hundred other companise.
the SupsTintsadsnt issued . subpcsna -
Carl Schreiner. manager % the Munich
Pirs. 20 that he can explain how the ban
was pushed through MIR. Correa testiiisd
that Schrsiner spent . sarge amount %
money. probably for legal expenses.
Mr.. COrrea could only explain that no
supposed hs meant legal ezpenses whrn
he wrote this letter on July .. IsoS. 90 J. 3.
Branch. president % the Providsncs-
washington Insurance Company az Provt'
dence.
I'm regard To the Grady reinsurance
act 10 may not be out of place for me
"a give you in perfect confidence a state
ment that has come 20 my knowledge
and which / conveyed To the COMMITTEES
a short time ago. namely. the fact that
the Grady bill. having been put
through by certain reinsurance companies
and having been bought through
Me Legislature 1.-THE amount Of the
purchase even having been signihed
70 mol. has been placed upon the
statute books with the absolute and
avowed understanding. promise and
contract that tho parties who put
the bill through will defend u and
take care that IL ~ not repealed
until 1919; hence I am sure IL win
simply rnoan a little longer wait. and
thas IL you'd BE- futile for - =. shss time
10 attempt its repeal. can give ycu some
further little details in regard To this
bill when I have the opportunity OF 500
ia y5u ia psssoa. 5ut tsss story - soS
long and too dslicats a one " 20 inso
too many "details by correspondence.
A.. Mr.. Correa also furnished the informa-
ton that a fund Of sIOOOO was raised
through the National Board Of Fire Under
writer's which fund went % Washington
in 1901 10 aid in the repeal 81 the stamp
tax law IL was not made clear how the
fund vas raised nor through what hands
the money passed.
One feature OF the testimony was tho
discovery that after A~ssmblyman Frank
Julian Price had written 90 his friend Ken
nedy on February ~. 1904 70 warn him
that -Rearion.- q Democratic member
Of the Assembly Insurance COMMITTEES.
was likely 60 come around -seekine
Nxht.- a bogus Rierdon came and saw
Kennedy and. 90 far - Mr.. Kenne<fy
remembers. got no comfort The real
nierdon. the only man ~ that name or
any variation Of IL In the Legislature.
confronted Mr.. Kennedy yesterday and
Mr.. Kennedy sAid he wasn't the man at
all. The real Risrdon 10 now looking for
Price. whom Mr.. Hotchbass will bs glad 20
interview Kennedy was not the agent for
interviewinR Democrats anyhow. and M
Hotchkis wants 90 know Who was.
Mr. Krsmer. who wan q member % the
laws and legislation committee OF the
underwriters board for . number Of
years. described the antt-oOmpace bin
at some isngth. saying that II was biii
70 prevent the existence Of any oreAni-
Eation which would make uniform rates
20 ~ maintained. He classified u a. ons
Of tho -striks" bills. 81 which thsrs have
been - many prsSented at Albany.
what do you understand by the Va
fional Board Of Fire Undsrwritsrss- aaEsa
Mr.. Hurrell.
The National Board OF Fire Cndeg-
writsra 10 a very comprehensive orGAni-
-.egns. eahfme in al the ConCRrna IN tho