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Show FORMER SEilOR'S DIFFttT TASK Tries to Tell What He Did to Earn Mutual Life's Retainer. Re-tainer. ARMSTRONG ADVISES HANGING ONTO POLICIES Declares Companies Will Be in Better Shape After the In- estimation. NEW YORK, Nov. 29 The resignation resigna-tion of Richard A. McCurdy as president presi-dent of the Mutual Life Insurance company com-pany was the most Important development develop-ment of the life Inrurance situation today. to-day. Mr. McCurdy I? succeeded temporarily tem-porarily by Frederick Crornwell, the treasurer of the company, but It Is understood un-derstood that the position has been offered of-fered to James H. Eckels, who was comptroller of the Currency during Hie administration of President Cleveland, nnd is now ih president of tho Commercial Com-mercial National hank of Chicago. Encourages Pol Icy-Holders. One Interesting feature of the Insurance Insur-ance Investigation today was the Issuing Issu-ing of a "Thanksgiving proclamation" to the policy-holders by Senator William Wil-liam W. Armstrong, chairman Of the Investigating committee, In which he advised them agalnsi allowing their policies to lapse because of anything revealed In the Investigation, and told them ihey are In a heiter position now than before the Investigation began, and that the committee WOUld recom-mend recom-mend legislation to safeguard their In-torests. In-torests. Lived in Albany House George P. McClelland, a former State Senator from Westchester county, testified testi-fied before the committee today that he lived In the Mutual Life Insurance company's house In Albany, conducted by Andrew C. Fields, In 1903, While he was a Senator and member of (he Insurance In-surance committee of that body. He stated that It never occurred to him as Improper as he and Fields were old friends. It was shown that in several years, while Mr. McClelland was not a Senator, Sen-ator, he was retained by the Mutual Life Insurance company at $3000 u year, and Mr. Hughes had mill h difficulty In obtaining a statement of what he did to earn that retainer. He said he appeared ap-peared before legislative committees to argue against the savings bank tux and franchise lax bills. Can't .Remember Voucher. Mr. McClelland had Just stated that he was never employed by the Equitable Equi-table Life Assurance society when Mr. Hughes showed hlni a voucher for $3o0n paid by that society to the firm of which Mr. McClelland Is a member. It was written In Ills handu rltlng. but Mr McClelland said he could not remember remem-ber It. It was credited to n "wafer company account," as were also other vouchers paid by the Kqultable society to Wlllinni N. Johnson and Charles T. Lewis, amounting to $6500. Goes After Hamilton. John C. McCall, son of the president of the New York Life insurance company, com-pany, told the committee today that Andrew Hamilton, the legislative agent, who got large sums of money without an accounting from the New York Life Insurance company, had been located In Paris and that he had received a men-sage men-sage from President McCall asking him to come to New York to appear before the committee and render an accounting account-ing of his expenses. To induce him to do that, Mr. McCall said, he was going to start for Par's on Saturday. Complete Work in December. The committee and all of Its counsel held a protracted executive session at the close of the -day's hearing, ufter which It was announced that the committee com-mittee would complete the Investigation Investiga-tion by December 31, as It Is due to report re-port to the new Legislature In the first week in January. The committee will sit Ave days next week and through the Christmas holidays. |