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Show (JUST A FEW SUCH POLICIES ISSUED Executive Committee Can Demand De-mand "Any Multiple" of Stated Premium. NEW YORK. Nov. Just bofore th in surance Investlgatlnc ronvmittoe adjourned fbr the dnv Charles T HuRhrs, counsel for tho remmJtt". prmhirrd a pollcg written by the Mutunl Rfsnvo i,)fe Inurnnre company upon the life of nn unknown mail, whlcb policy Mlpulute.l upon the first pnge that tho In-ured In-ured should pay a nxd .-url ntntc.1 premium. ubjct to other ben -fits ind riUlrmenta iMwherjt stat" -i Call for Any Amouhl. On pao two if the policy Mr Hnitlie: rra a douse that the executive committee of th company muM raqulro the holder of the policy to pay any multiple of the amount of th' premlatn stater! on the first page which tho committee nv nt. Ge.)rgo D. Eldredge. icc-presldent and actuary actu-ary of the company, to whom Mr Hugnen read the policy, nM that thr number of WCb policies Issuci whp small Admits Taking Stock. Previously Edmund TV Randolph, treasurer of th New Yf'rk Life Insurance r-,mpatly, hal wld that :t m true that he received $7Aiv worth of Nen Tork city ItOCk from the nults cf the rompuny and put a check of the Central National bank for that amount In place of It on January V 1901 Mr Randolph understood that the hunk wanted the s,ock for clbniF. oni of which was the Merchants" Trust company. Ho promised ro (rive the eomuilttre later the i hmes of any ottcer of the New Voi k Life Insurance company then In Ihs Merchants' Trust company. Officers in Snydlcate The deposition of O. org.- H Squire, formerly former-ly rlnancUl manic of the Equitable Life furance socl.ty. In srhlcli he descrjbed some ef the op rations of the s-ndlrates which In-tludyd In-tludyd orTlcers of that s-iciety. v.ns reaj t tns committee. Among these omceis were Jamits W, Alexander, .Tames H. Hyile, Thomaa D. Jrrlan and W. H Mclntyre. The fact that the New York Security and Trust company pnid fis.oon to Andrew ilamll-t. ilamll-t. n. the legislative ftgient, out of money be-longinir be-longinir to the New ork Life Insurance com-ptny. com-ptny. was also brought out today by Mr. Tellf of Nice Deal. W, S Karshawe, a draler In Investment securities, t'.li the committee that In 1!M ha bought New Or) -ana traction bonds of a far value of tt. 230100 from tho New Y. rk Life Insurance cmpany and Gt-orgc W. Perkins, trustee or the N eu fork Lir.- insurance com-lany com-lany tun I, glxlnir them his checks amoun ,ng to J93-.i, In payment, and then borrowed the MS,00 fn,m the New York Life Insurance company, using :he binds as collateral Then he sold the bon Is. giving the New York Life Ir.siirnne-i company :-5 per, ,-enl of the protlta and kerplns I per cent. Shifts the Blame. ked about the removal ot 1700,009 worth of Now Y..rk city .'to.-k from the vaults of the New York Llfn Insurance company for a few lays and th" Mibstltuit'-n therefor of a Check or. the Central National bank for $7 o. s'io, which wa told yesterday by 'aiher Theodore K. Ranta of the N. V .k Life. Treasurer Rand..lih of the New York Life said the ataie-ment ataie-ment was correct in the main. He did remove the stock as Mr. Ranta testified, he sail, but at that lime he wa not the treasurer of the company, but chairman of the executive c ni-mllteai ni-mllteai He probably acted under Instructions from Mr,- Ibba. then treasurer, now dead. "Who got the BtOCk?" asked Mr. Hughes. Memoiy Is Deficient. "I don't remember. Only three men bad then access to the vaults." he raid. The etock VIM absent from January C to January 9. He thought ther- were i.iher similar Instances. H anie. wlih Mr. j Huches in ihe conjecture that It was dono to enable some one to put them In a non- : taxable iecurllles. Jlr Kand-dh said he understood, thu Central bank acujunted for the Merchant' Trust ciimppny In the transacts trans-acts n and oslbly for oth r.. The I. n line of sacurltles for suoh a purpowe was repugnant to blnj, ho wild, and he would not do It. Helped Bank in Distress. Ther was ne "thr coso where tonda were lint and It was koi-I buslw ias and rltlxenshlp. but they were non-toxrJile lionds. It tnu s I'mo "f financial str.s.- when the Secre;ary of the Treaxuo' deuuiniled Mich-class secur.tlrg, thn New York Life aeposltod Msssa-rhu,tts Msssa-rhu,tts and New Zorh City bonds wlih the ("nitei states Qovarnraant for the First National bank of this city and received f"r i ti..t .. r '."-'. I " u!Ji - Hit' r- i Tarbpll's Renewals. Alfred Main, one of the auditor of the Equitable society, tistined that be had made a computation Of the renewal i-omnilsalon paid to i;a.K" K. Tarbtll, vlce-presldi-nt f the 4Ultnble aocloty. Mr Iluphes nsknl blrn t" M Kluce his calculations as to how much Mr Tarbell ivas i ntltltd o when the convputoe tkna were mode. The renewals ran f r twonty-four ysan un ler the p-dictes written through Mr TarheH'S ilClnc" The computj-llon computj-llon snowsd that the present alue of the rotn-nilrslons. rotn-nilrslons. ba"ed on duration of tho poll' ir was IM0,00Oi and that tiny would pay him tCS.OOO a year. The longest of them was g ol for twelve- year- Mr Main n rri 1 -1 ' brln In dnall-d Bauraa of his computation. Explains Hail's Policy. Mr. Hughes called to the attention of George v. mdredge, vlce-presldsnt omi actuary of. the Mutual Reserve Life Insurance company, the complain: which hud ls.cn made br Ia- i rid Hall lo Gov. i..ik of Missouri, which came j up a few .lav hk", when Mr Eldredgo was , aiv-.i ,,, ,M,V ,,.. ,, .Mr Kldr'-'lgL i-.-.i 1 that, as Mr Hall stated, he In a policyholder policy-holder to lb extent of iU00 In the Mutual I Keserve Life Insurance company and that a bond of . had bean credited to Mr. Haii policy at the end of ihe first five years perto 1 I In lbDI. but that the bond had been entirely wiped out by special aKS ments before It be- j came available for Mr. Hall In 1901. Special Assessments Heavy. Tho special ot-sesemcnta In one year, he f.,i . were 76.9 In addition lo the regular assessment, assess-ment, and Mr. Hall would have had to pay l them In cash If he had not been credited with lb- bond. Ml. Kldicdgo said Hall ha.1 faU tffl9. SO Into the company on thU $3000 policy, and when asked If Mr Hall still owed SI300 to tho company, as he had stated, Mr. Eld-rtdge Eld-rtdge said - 'That la as 1 have explained when 1 testified tes-tified before." |