Show I FINAL REPORT OF COMMiTTEE Mutual Mutu l Life Trustees Have Gone Through Books of j c the Company IRREGULARITIES SHOWN REAL ESTATE LOANS ON ENOR ENORMOUS ENORMOUS SCALE New ew York June sixth nd tIDal report of the e By the Mutual Life lAte last October to ox ex examine amine Into the and aDd man management management of the company was made public toda today every eyer department of the company was wac ned by expert a accountants ts and while charges or of ms mis mismanagement management and wrong doing dohIS are made madet the t he report as a whole contains little that has not Dot already been Deen the final report is a sup suppLementary statement by the t William H True Truesdale daJe and John W explains some of the statements tat ments made by the experts It Is stated for In tance that the corn com pany ny holds bout about worth of real state morl mortgage e loans which are aie In ex of eo 80 per cent of the valuation of The properties which form their security The hl committee explains however that there Is nothing unlawful or unwise In InthE Inthe thE matter of these loans Estimates Conservative In p rt or of the claim m that the real holdings of the company have bave been r hm ted at conservative figures the statement says the corn oom pany fany hu has sold nold more than twenty of real state a Since the tho farly part of the year and these hold bold brou brought bt above their ap appraised praised value F Farmer President McCurdy and his is son rt H are re mildly se scored red by byth bythe th the investigators for their failure to sup j y them with certain On the of the compan s securities i holdIngs the committee adds that I d ur n the past tour four years there hu has been net profit of upon the Hits sold or still held by b the company 1 I Is made of the methods em employed by the bond and mortgage de department of oC the company I Irregularities Ot the reign loans examined the Ole re r sa says tEe t ees of ef irr I lin wOre were e ernder the head of expenditures or of a questionable character and for purposes not disclosed by the Books and vouchers pC of th the company the report says uTh They Y agreate for the entire period Jan Jau 1 1 to Dee Dec 31 l 1 the sum of TIl Th committee concludes it report with wUn a statement that it Is the opinion that President Pea dy and his staff are making the most ons and thorough effort to con conf f wt Ild the affairs of the company on broad correct and conservative bus busi rs fO lines Jines |