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Show : dames H. Hyde in the City, and Announces An-nounces That He Will Appear Before the Committee and Answer All Questions Ques-tions Unreservedly; Mutual on Rack. NEW YORK, Oct. 17. Irnrestigation of the life insurance V companies was resumed today, with Richard A. McCurdy, president v ,of the Mutual Life company, on the stand. , James Hazen Hyde of Tphe Equitable has returned from Europe and says he stands ready yCio appear when wanted before the committee. and receive $130,000 in salary. I want to learn for what you're responsible." "You are trying to prove me a fool, the witness retorted. Sharp Retort. "Without commenting on that which is obvious, let me ask you to tell us to the best of your ability some of the lines on which your company is conducted," con-ducted," said Mr. Hughes. Mr. McCurdy Insisted that his actuary actu-ary must answer the questions on dividends divi-dends paid and how they are calculated. calcu-lated. He declined to enter any explanation ex-planation further than that the policyholder policy-holder above referred to had a reduced rate policy. ' Declines to Answer. Mr McCurdy said if a copy of the policy holders' letter was furnished him he would have the matter looked up. Mr. Hughes said the reason he took up this subject with-Mr.- McCurdy instead of the actuary was that Mr. McCurdy had submitted a great many figures to show the Increase in the salary of the witness was due to the great prosperity prosper-ity of the company. Mr. McCurdy many'tlmes" "decllned'to" answer" tjaes-tlons tjaes-tlons by Mr. Hughes. Other letters from policy holders, were read to Mr. McCurdy showing a gradual grad-ual reduction of dividends and he replied re-plied that probably the decrease" was due to the approach of the maturity of the policy. Questioned further to explain what he meant, he again refused re-fused to "discuss the question." Wouldn't Be Drawn In. Chairman Armstrong then asked the witness what relation the approach of the maturity of the policy had to Its earning capacity and witness refused to "be drawn into a discussion." Chairman Armstrong then said he did not think Mr. McCurdy comprehended the scope of the committee and that if the committee desired his Judgment of the insurance business the witness should be glad to give it. Mr. McCurdy again proffered his actuary ac-tuary to furnish the information desired. de-sired. i EW YORK. Oct. 17. With Richard A. ' McCurdy, president of the Mutual ijife Insurance company, and James HVHjRle, former vice-president of the Eqjbitable. Life Assurance society, in th city ready to be called as witnesses, the Legislature committee appointed to Investigate the Insurance business resumed its "session today. The committee com-mittee adjourned last week as a mark j..of.re8pect to the memory of S. Fred ;V-Nlxon, Speaker of the State Assembly. ' ' Mr. Hyde has. not been served with a subpoena, as he has notified the committee com-mittee that he Is ready to appear any time be is wanted and to answer all questions unreservedly. Uclntyre to Return. The committee has also been notified that William H. Mclntyre. formerly fourth vice-president of the Equitable . company, who has been absent from the city, will return shortly and be at the investigators'-disposal. . . Lawyer John B. Stanchfleld of El-. El-. . ni,- w-wt the IMiuaUcxandl--date for Governor of New York in 1900, was In the -committee room when the wssion opened. It was reported that he had been retained by the Mutual Life Insurance company. . . . Richard A. McCurdy. president of the Mutual Life Insurance company, was the first witness today. Statements of Assets. Before the witness was called James McKeen. associate counsel to the committee, com-mittee, put in evidence for the records , a statement of the assets of the Mutual Life Insurance company and or tne banks of England. France and Germany. Ger-many. James M. Beck of counsel for the Mutual Life Insurance company, claimed last Tuesday before the committee com-mittee that the assets of the Mutual Lrf. exceeded the combined assets of the banks of England. France and Ger- many. , . . , , By cable Mr. McKeen said he had ascertained the combined assets of then Institutions were $2.226.574.72l. whllk those -of, the Mutual Life were '$440978 371. Further said Ir. McKeen, heihal found the salary of the presi-0t presi-0t of the Bank of Germany to be lalOOO per annum and that of the chief iojvernor of the Bank of England to be $lj000. He had been unable to ascertain ascer-tain the salary of the president of the ank of France. xdcCuxdy Examined. The examination of Mr. McCurdy . was then begun, he being fl"ttoned first as to advertising. A clipping from a magazine for October. 1905. was , shown hlrnT He said It was an adver-' adver-' tlsement setting forth the advantages of his company. Witness never saw the advertisement before In his life. He had no more knowledge of what advertising adver-tising his company puts out than tne casual reader. This was the business !of the advertising department, he said. Mr. McCurdy did not know whether some one in the Matual Life Insurance company's offices received the coupon attached to the advertisement which the reader is Instructed to forward to the company for further Information or whether the coupons went to t .. t. Raymond 4 Co.. the metropolitan agents of the Mutual Letters BefrardinfT Dividends. Mr Hughes announced that ,the committee com-mittee bad received a large number of Utters relative to the dividends on the Seles of the Mutual Life Insurance company. Some of them Mr. Hugnes 2" read 1 to the witness, saying those he - were from policy-holders in New rSX Cltr. One writer who had taken out a oolcy in 1865 for $3000 on the ten payment life Plan said his dividend n 7s was $55.76. In 1881 it was cut to ?T 1904 to $3. This, the writer said, was in the face of the reserve increas- ',n?,ry3Mcurdyyesarid Mr. Hughes had the wrong witness. It was the actu-1 actu-1 rt he said, who looked after the cal-r.,Utlon cal-r.,Utlon of dividends. Had he been -notified I day ahead.' he would have Sn fortified with this information. JlcCordy Makes Complaint. 4f, McCurdy ' complained that this lnvelgation was general outside of iIt was contemplated when the com-L com-L was appointed by the Legisla- H "said he understood his was Jo' e ?n examination of Insurance to t J. not an inquisition. m?Hu.S. replied that it was in Mr. Hu.:.,B.t,on. "We will have t1 n call your actuary, but you f 1 Z in the insurance business for ?T and I " ant to learn what Ttyi,JE2 aSut your company." said X Hbei IM . it- president |