| Show I IS PUT IN VERY BAD LIGHT Frederick H Cromwell Cromwel Acting President of Mutual Life Testifies Against Him LOU ON WITNESS STAND oN liming I leeched n a 1 of C He lIe Il C iy of New York Dec 28 V F I P yn arid and J Hyder Cu Y who ho won wan WIl employed at ul times UK its counsel by Mr Mt 1 Llyn the thi littler latter 18 state elate Itale superintendent of oC Insurance In were varo Witnesses sll today be before before before fore the Investigation and who wh furnished practically nil all ni ut cit if the In Interesting testimony time the fact that Hint more inure witnesses 1 wera svere ex cx examined on Lilly nuy other day Iny since the Investigation hegan Mr I va vani called cale to complete Ills hil testimony interrupted l imy hy y yesterday and In III II reply to 10 one of lImo thu first questions linked Ulker kiln hUn emphatically denied tine the report that ho ito hiu 1111 received from fro the tilt Mutual ero Life Insurance amid ld land hud allowed that company to 10 wrIts write lt It its own report of ot nn an which Mr tr had canned to 10 lie he made in ill II 1899 Mr Ir him the report UN its III absolutely ft In lit II every particular antI saul In hi It I gre unit out of f a n Sight fight between D P Wells Wol former vice of d the thu Mil Mu 11 tutU President Burnham of If tt If sanio Ilm company Judge e Cody Cady wan WIK brought Into the In lon by reeson of If if his Imle hl having ap before Mr Ir Hun Ryun III itt II the inter later tit of cf Prussian Insurance companies ns c admission to the United limited States This application was WO vas denied by hy Mr Ir IrlIn Thil lIn but hut two years later was granted McCurdy Ie of the time Mutual Life Insurance company laid hud naked that thin Ill permission bo lie held hell up UI u until he lie Il cumulI ties nee leI Mr Ir This request was refitted refilled but hit Mr Ir had hind Judge Cudy eady call mIlan Mr Ir mi Mr lr fr Ju asked ket If It Mr Ir McCurdy sail Bald the Mutual Life would pay hay any aimy II money ton for fO a IL contrary decision Judge Cady ady said he lie did not but that thoc Mr fr Mc McCurdy 11 ly Curdy ur urcy offered him a n retainer In iii behalf of If tIne the Mutual Life Ife which he lie refused K P lYN lul A V F 1 laymi 11 th this 5 former critter state plate In commissIoner test before the Insurance investIgatIng committee tob that the charge malle by p D former fonner vice vlee president of this thin Mutual Life Ie Insurance com company COl pany that intel had been beel paid maid to Mr 11 by hy the Mutual Reserve Re ene for t Ui l allow InK hag Ion the company cOlpany to write Its Is te to 10 port of nn an by b the tho ance deportment department was 18 Absolutely fats tuil tuilI particular Ho ha said fall It grow grew in enry I out I of the tight fight between Mr Ir AN Wels Wells ells and amid President Mr who was on cnn the time stand when time the com cant committee Wil adjourned yesterday was vas tho the hirst rt today The rhe of oC the Mutual He Ito Ie serve by i the state plate Insurance Impart In 1 99 was Ww is taken takemi uw Mr tm h raid nih of the miLd made by om cru PIn and e tint he Ito h UP Lip II JiH hh CUI that I IT lr I F A Wells Veil former or er im D I Mutual Ite vl vie cf cC company com pan said wot worthy thy of or consider uton H Ii 1 Robert Hobert H It Hunter the time deputy super simper superintendent I 1 In III charge of the New YonI who the lie department office of oC next unlit lIll li lie he mide nde an I Inquiry Into Inlo the tIme charges against the officers of the lie e Reserve Life LIe company In He was unable to toMy tolay My pay why they were vere not reported upon He lie never noted on Ott 01 his hil own Initiative 1 II nothing without or did ho lie said pall He lie Il dil dent Mr hughes renil a 1 letter leter from the node socIety y to tor tott K 1 EquItable Life N NY Ny NV e Powell of or tt H Ii R n r powel 11 Y V dismissing I him him from rein Its Is service as I asa because au e he was wasat n a medical bC WR 1 nt at war with the time Insurance department Mr Ir Hunter pith that he had hail secured the lunter of Dr Powell Powel with wih the tIme society Mr Ir hughes brought out that when Dr Powell lotell was woJ dismissed the relational ons Powel strained between I Hunter and him hint were In light of ot factional because be u it 1 In bi II 1803 1103 when Dr Powell Powel elected elated mayor Inlayer win desirous of ot belI InayO Wili U Is I also Ilso Mr Ir Hunters home honne Mr Me Hunt r tiM said tiMI saidI I went to time the l Life IMe In my nil capacity thu naked them If IC they wanted a man mal like Powell working Ion for them tutU and uld he lie sums na ell Asked how lmos the Equitable Life dif differentiated dl his bin hI personal train from his official cial capacity Mr tr lr Hunter lunter I said he h did not lint know kno mol m H I n George 1 0 O t Haven Havel n a I trustee and mem member mCI ber I of or tIme the finance committee of ot time the Mutual le Life Insurance company next testified He lie said lall he Ito h received sonic some of nC the limo th shares of tIne tho Lawyers Moru Insurance company t which were sup snip supposed lp Mutual posed to have been sold to the time Life Insurance company He Ho did not nt member of the know that he was vas n a 1 subcommittee of the th commit committee tee to 10 lix Ix salaries unlit It was vua WUI brought out In iii this A D aunt and George F P hiker Biker were time the other members Mr Ir sail he thought President McCurdy appointed the com coma committee mitel to I lix Ix and he had that power under the lie bylaws IIII Tho com coin milIeu fixed the salaries of the tha president president dent und and nIl all al of time the and no iU re me report report port rort was vani WOI made to tiny any 11 committee or to tine the hoard board Itself IS s said that he hc and nt Mr fr distributed the shares of at the tho Layers Lawyers Mortgage com coin company Mi pany party the of ot tine tha finance committee commit lee of o time the Mutual Life Lite Insurance In cor 1 n but he h did 1111 not know this stock had been heen offered to President Ic for tor the time Mutual This Thill offer oter he said salt was viiu never hover brought to 10 the lie at nt attention lenton of lie tho finance committee co ml I Henry bury 1 a n director of the tite IheI Lawyers I Mortgage company related rein tell the manner maler In iii II which the th stuck stock of that company was distributed 11 among the time Mutual Life Insurance committee Ho II I Ic mutt BaM that A D P lund had toll told lo him him that hint President McCurdy was wa offended because the time Mu Mutual Iu nail Life was Wa not mint II allotted any ni of oe the stock of ot the Lawyers Jawers Title Ille Insurance Trust Truss company Po o when tho time stock stok of the his Lawyers Mortgage company was WAR Increased later inter Mr Me Ir u offered Mr Ir McCurdy 1000 but bul Mr r lard lart told tho time that Mr t Mc Me Ic Curtly Ourdy would woul not take It for the time Mutual Life Jle Insurance II company since It did not get CIUI any atm of the lie Lawyers Title stock stoel Mr took look It I himself ir H Frederick r H Ii 1 Cromwell acting prell dent tIm mit of nt the time LI JM tn c 01 puny who sob suld ull he lie sot got ot olf of the Ihl I too shares hures that Mr r Julard distributed was wal railed called He lIe II said Bald he know knol nothing of the lie stock being bing offered to 10 Mr Mm Ir Me Mc Curdy but that Mr Ir Huven brought U it Uto I to his imla attention Mr Ir Cromwell Cromwel said Im Inui very sorry to 10 to t testify against 1 Mr lr McCurdy but bUI hc lie never hover ver lid did ltd committee liming bring It I to the tine attention of the finance Mr Il Cr wait Wil ticked If hr ho had given 1 any consideration to 10 methods of economy in iii the Mutual Life company timid III he hit replied that ho lie up UI some lome but he hu did dil not mien lot want to tn submit thou them for evidence because ho mail had hlll not mint to be questioned on that subject Many Juny economies nt h he said 1111 will 1 be hll mull made beginning Jan Jail JOI 1 t 1 He lie le wild raid tine the coat cost of the supply depart department ment advertising und anti literary depart departments ments will probably be lie II reduce IV bY ly lyOO wi OO O lie tho salaries will wi lie h reduced OO and he lie thought could be bc saved saYed next year In Inthe inthe the expenses exp lel of ot the company Mr Cromwell said n a 1 great Krent reut many man men linen hove have h hem U discharged ell from roam the tha company and Ild about the most unpleasant I J over hind had to do was al to be the headsman the th past taw few weeks week JOHN P MUNN Tim fil affairs of nt the th United States Life lc Insurance company were ro gone nn late hel John P 1 Munn president of tIne company wan waH culled called to 10 thin tho th stand tanni Mr Ir Munn runn the capital of ot his company was upon which dividends of ot 7 j 1 per er edit cent tire are paid multi annually Mi II Munn ald Mt imie company had re received reo 2 OO In rebates on taxes In lii through the court coull of appeals decision In mi II the thic III suit stilt of ot the Provident Savings Info ICe AH society and the United States Life Lite had been heln approached by liy I Andrew Hamilton whose aid uld 1111 ho lie wanted 1 11 I represent ent tIme the United Culled States In bItt mailer er so as III to prevent any Iny conflict of lat of ot companies totS for rebates Mr lr Inn Munn find his company paid vaid no retain rr or r to In Hamilton A statement of ot the cost to the time com coit COI puny of ot new ne business showed showe that In Inmany many cases cusca It I ran over 20 per cent and andIn In iii como tommie POlO cases no as high as ni per cent centi i 1 Mr r Munn said raId It was WI due to 10 0 the sharp of ot the large companies Mr Ir Munn will wi bo be 10 examined further to mot inn row ron ns nit his examination had imad not lint ben been concluded when adjournment waa WiD taken Dt Aty today received n a of ot all the tho evidence thus th fur far sub submitted to 10 the Insurance Investigating i committee There are ahe numerous ol oi oli i times Aching Nott Nol lall lallI ild today Illa that n it I special Brand arnd Jury J r would probably be In him February to I insider tine the ho testimony |
