Show M UT T U AL L UHS L If E S NEWS AGENCY Gt C 1 Sent Out Special Reports of or the to Correct Impression sion stoil Made b bj by A I P Report PAID PAlO TWO TiU DOLLARS A Tins Tills CCO n os to 10 Show that He ic c Cur Curdy s Attitude on the Stand MadA Made Mad MadeA A lc slon N York YorI Oct lAt At the session U of oC Ui committee e tb tj the oC oCth id th Mutual lort under an act It w wall lit brought ought out this com Coin company pany any ony for tor tho the country of or report oC or Ihl 11 that thai wore ware favorable t to IJ Ih the I J Smith IL a aHe ne r mUll US UM thu tho s lieI He lie I l U b by tho the Mutual to tu do II I u LI Mig number ot of things hut but a month III II IH H placed III In of ot 1 out tut Hits Mr tr Ir Smith luul n i 1 num nuin I I oj or r vouchers for lor the tha payment of or thil Ihl I k and ami these f OOOO M in 1111 U bills to 10 conin In lU lUi MI i I Smith wrote nut u tit t them he n to Al Allan Aile I n II For wh v hi p u MI Ti n I Telegraphic UP aI i u fl it II line was paid by tI the tha Mutual LIt Ii tUl 01 tI the pervic BOOSTING Hit Jh He e dispatches wore were sent to About 1 lu IJ I but Mr JIll ti Smith did not know knol nil IIIi h the Hie papers wore yure paid for fUI In ruling fl g I them helu 1 lu II ono tI Mr tr trin in Hun 1111 McCurdy at nt i 1 i n II 1 the shu I made a n fi i 1 idle Id H und and for tor thiN ho tie holi li t I tU pa PR 43 3 a II line Tills he ho mild suhl V II i s I til It II t tF F Fl InK Ing Mr Smith W Mailer iiii n fl I v ho jio his i of or thu Iho Lt P rI tie department part was culled calleI I ll i Mil hlll lil Mutual advertised In III 1 12 32 Us yell year I at lit a II cost Coet of oC JW I II I if In In Insurance i r it t t lUt more moro hut but he rouM n t t i I where whre t the ti remit remainder I 0 of or t the n at unit of or tho the l 1 up UI t to 1 liHt your wai lal S tipanI spent I it Lt ii I In Urn tIlt dRY dilY McClin i I 1 I Hu 1111 of t tho Iho Mutual Life H ic mi Ih the Mr l 1 1 tj tI no lawn for fur Ihl 11 Q a celI cel I tin to the it I 1 V 11 Ho lit thought tim tho public coult coull t I til in I IS of It ot a mill nil thu t I tit It t J IH 4 th be belli t law A lo ItO how far farI ar 11 i u II IIA har l In fn cIrcIe 9 li h I iii h Hi ho III wan waK of ot aY n a nils Ill ny Y along that Itne Mr r t I I II a ai to 10 have been belli on tb tho 10 n in III n till the afternoon but d duth dUt du U th lIre R ho wan with 1 a I I td of oC vertigo to 10 which ho hl Is III t I He will wll bo 10 called colletI again to 1 LIl I II OW J 1 ii fl 1 K U HeRcman of oC the tho Mii j 1 i II Life Insurance company 1 n examined When Whon the adjournment v IM tIlI tula hI hll 11 1 H W VI 1 kIng the startling feature I f die testimony of ot some nemo ot of the othor othir I Mr lIe liege jo joI i rk and wet 61 1 M 11 th tt le less A IP especially hh hilt I N 1 M I r that thaI to III the theIn In ni l tn I o of his hlA company ny H ir I i Oil any obligation what t e i t ATI 1 R brought out that the i arrIet t loans 1 l b it th tho year none appeared In il 1 report on Dee nel 31 fl Tills wt i i i 1 hy by the ts il I who I ill II loan were vere trull 1 i I 1 eI i 1 Ih the lat till da day o of PIt the to tom tori ri m 1 Tj t Co ro 0 the thc bankel an ang angl g ri gl P r ir vrr pro bought l hak ok IIII In III ut I IlLk wat dono Iono to avoid Ivol th thId the thu nil Id I if lC f ii for fir call lOAM loani l II the Ihn Wall Mr H II j g i t n II not nol the tha mil mili h i i Illel from this titis I p Id 1 n Ii ticker r In iIi his of ot l t II H I 1 1 I ho hI II would not havo ono thorl II f r rI dM Liki not cure care to havo 1 Tiny fly known ua tie I a loaning company I M I iI t i J i AT LOW I I JiKe g UP nl t such low lowI t tI I l r rint tho the ono Inc lo In 1 c i II t of If t the Nt New York 1 r ri lip UI anti and Mr 1 liegeman jl ly of his friendship for far farM or orf v M f h ht ho h he wan WOH than I 1 n i I nu to h him In t tho ho hoI III I i k of or as liS I f Mr 1 1111 had rendered hIm hImI him I I ulic I Ie that of at t b benefit to II II i 1 1 ii anil personally I y ho ha hoI haI hoho I h 11 ho company mY could afford n a III lId 1 i 1 p i IM I been In I v i ill It 1 a few e hundred tamiM II amounted II t 9 1 to 10 The h Mo hi of ot Rills Silas n H I I li II I at ot th tho o company I who also alsoR I R oJ loans with thelI the tho company 1 I H lI of ot I the lie lif wile was wasI WilliI I to 10 before I i p committee 1 Mini ii a It III today ns OR q qI 1 I i of ot time the company 1111 1 viIla the tho salary III ry o of I I vim LIH 1111 being tl 1 I i 1 var yar 11 In III a I UI 1 for tin pro prot t I M fr frim m 1111 tot of ot t the I l Lit ife com I 1 that Hia the of It their 1 I il I 1 been reduced I city i 1 i un In el i for the tha committee that i p 11 in 1876 drew re a n dividend of oC oft oCt p t the dividend hud had been hoen i f r I I lit ut until in Iii l IA tin till policy 1 lp but hut 3 nn nM I a dividend r elo cr from t t I and declared I r vore ere made mod In the I 1 ei el o in tho tim company II ru rc v Mi Ill Ii pi I on Oil that 1 I Iii i tho thi on l ii I ho lie nil not lint fortified but that I i from the tho actuary II 1 p t v I wI for tor an Mr III IIII tr I h V 11 hid d declined to III Ih Ha lie dIll did tint mint aJ ad adI N I vir I I r that ha Ie dirt dill not nol know H I 1 i HIM tho limo witness 1 Mi I Mi Of If to the tha I I who VIlI hUH hue mad a study of 1 I i 1 i t il II points of ot life liCe i UP lip examination of ut Mr 1 Me Mc MeK McI I K h 11 H mill he had taHIti 1 I T tv t f t I i II of oC the Mu Mit Mur MuI r I I r I company In III 1 l S I resident nf lit the tho Actuarial Ko fo r from 1 IMS to 10 1807 I 1 t of the tho Institute orI ot or I lit Pt since elace 1871 At U 11 si sL Of 01 S SIc I Ic the state v d HUB lulo Ion on nfl tho the aland by J John A AJ J I J Ire o of oC tho the Now York II company compon n Pie to tha the thad I d i I to till tha many failures t I I tie lie at Iy daya of ot In InI MI In hu failed saidI sold said M I rum u 1 ock I h h fn they hid t to p t them thorn but hut the our cur r 11 mn The lurar Metropolitan In I tho witness contin cantin lied hell w wm on all th the eve eva of oC failure allure at lit one hut but managed to 10 jm ti r II by adopting the Industrial plan of or ur alIce 01 Mr Ir lock said nit the tho Mutual Lifes Lifee charter harlor called for u division of ot profits among the thu rn eVery evory live years l to 10 1896 In lS 2 1 a divi dividend was wall n added to the policy pallo The next division of ot profit profits wa was nan In ISM ISh and this wa Sa at nt death All 11 the know knew WH Willi wea that a II amount wins Wilt added to 10 hl hi his pol policy iol icy lur which h lie he wn WR II to le lve at his hili death In III IBM 1859 amu mid I 1 other dividends were Well paid was wan not lot clear as II lo 10 whether shel her they w r Ioe paid In III Upon of ot till the policy In the sharp competition b t een the New York Life and th the I Life LICe Insurance company In Ih the Mutual ott offered new lie policyholders a 1 30 per tier cent rebate on Oil the IhA first year premium Thin wn was an open ollon public and avowed rebate There Ther Will tui i much objection ton to 10 this that In tho time Mutual l at st 1 a 1 15 If per emit cant reduction In lii rates Out Outstanding standing holdE holders WOI 1111 privileged to avail Hvall of ot th the Ihl rate but bill with 1 a reduced reducer dividend Mr 11 it was wall one die of or these e re 10 policies that UM vM under ob last lut week pek when whon the letter of or the Iho holder to III the committee was Wall read to 10 Mr 11 recitIng a n g gradual duat re reduction reo from tram f to U I 3 In dividends CO COMPLAINTS Mr lr McClintock saId till that there were mora moors from holden than from any other others the tha com corn company pun pany had Senator then Ihen asked ached why h hy tho Iho policies dr drew less leef div dividends an ae Ihl they gre grew ol older antI and Mr h Mc raid ald that the rate of at interest 30 years year ego Hgo go was Ill a per cent which was distributed 1 in 10 Policyholders Twenty ago it II w Willi n II 13 per tent ant and and It hits has been Plo diminish diminished ed oil every very your year cor until It II was 13 43 per Pr lent cent at ut the did 1111 nf ot 1903 1803 Today th Ih the company I It Im for tor 41 U per cent alit which III said th the Ihl credit given h by Oil any bunk bank The lIme how however over ever el Oil only j K gets 11 what Is above 4 per v nt TIme The hai hM been heln dividends for or a Ii number of ot und and teon them gettIng In ILl en o that theL he im pta worries Nal l Mr 11 tock tack but that Interest nun got cot to In happen In every company N Nev A v HI he hI does doel not like It cannot be Je ex expected l to Mr 11 of at th committee asked It If you dropped below beio 4 per er would h ho owe you And AntI Mr tl replied The law wont permit that After Mr announced that tIlt Mr 11 had hIlll been because of I Ion MUTUAL I harlec J 1 the next witness said that he as a newspaper moan man who whose 1 chief buln was to counter LUnter not Mot the tho Injury that was wan being done lotte Ito to life lIfo Insurance aol ami He lie had bE been employed b by the time Mutual Life Ilfe Insurance company for tor eighteen years at itt OtlO Mr 11 Smith saul mid that Allan Alien lIen Foreman editor o of the tho Journal Journalist let owned th his Telegraphic News Bu realm nail that ent out t through him nome iome to 10 be lie published In newspapers VI t hH liPid I III nn 1111 diem U In III t III the ho I re It Is of Pr the Ne New Bureau but butha ha had d I loaned M Mr r l Foreman Borne booby For Joor tho publication to tn the th paid 1 H I 1 a IL line hue Ho ito filed cited Incorrect testimony published In title this city a mm clipping from th flue thu Del Lel News New which was wan ono h he lie hll lied hud 1 sent out nut through th the News Thin recited rome pomo ot of the te testimony of or Frederick Cromwell treasurer o of the Mutual Life before t the hll InI committee and anti wic was liS sent nt to about IOU newspapers It cost COlt th the Mutual LIfo LIfe Insurance lomance company or It Il wan WAH my toy Intention to 10 out those that III tim PreNe neglected to send gend out saId mild Mr Mc South Smith WItness taid RII that he hI hAd bad lent Cent nl out five ne or six nix different the Investigation each dispatch going to from tram 1 IB 16 to different porn Ilor CO COST coir I OF 01 N WH H dated Out Oct 18 lB gIving a n apart part of tOma of It ItA ItA ItA A McCurdy were ere h by Mr lIt lie Hu said laId ho lie b they WON were all lilt paid fur tut nt at th the rate of ot U 1 a U lion lino VI kald the money had hlll been paid to tu th the News 1 In reau The rue lut hue of or thia read that lint CI cia cie e a IL favorable Mr hughes inquired It II cost coit him II a higher price to get u a dispatch In the ira than limn if It It II had been heen acquired in 11 an to Impartial way WRY by those who ho furnish nos to the papers Mr di It Smith replied that hut the lie matter he hail hod furnished WItS wan the he truth and ouch elicIt matter mattE a BH aM the would b be tue pleated pleased to read U It was to let them theta Know what the tho company had hud torte done for them hem And Armil 11 It IH Ia Important also 1180 for or them to know that Mr Mv made a tI distinctly ta favot able Mon elan asked Mr tr Hughes HugheN S SMITH It t toads made II a favorable Impression on mo bile eald time thu wit witness You paid U ii 2 1 a I line for tho the part which read M Mr 1 1 r McCurdy made I a it die dis distinctly ta fa I arabia Yes 11 and amid It II wall wi worth It Mr MI dm Hughe showed the lie wit witness ness vouchers for or the payment o of Ir 15 6 i and re which th time the 1 lueI said for t tele le news hut but he lie could not lot been t the Its Pill U lies eO COST l OF 01 Mr r stated that lint upward of 1181 been t by ly tho he Mu Mutual u tuat Life Insurance company compan since the thu In Insurance Investigation began for tol die dis dispatches patches report reporting log I Ih the lit II that when the IJ bills II hi lorl all 1111 In lit they thoy would amount to In s hud been connected 1111 with this lineaL of ur lit Mutual Life In III company fJ III 11 II about one ola month Previous to 10 that hl his duties wore va YR varied neil ried It to be le your OUI general duty dutty to attend to 10 all sil alarms nod and the cause caule said Senator Arm tron Yes Yea and amid find till all time the ls It I Is an aim Job jot too replied Mr Smith Mr Ir 11 Smith there rare iere 03 Incur Insurance once ance l newspapers and that thiet tIme till Mutual Life company m sits If td cd d hm In III all III of ot them themla themIs I la Is this matter of or for or tIme the In lii of 01 news nesi It items Item I a II new of or the Mutual Lifo Life within the thin last sIx elx U weeks week inked Mr III Hughes Well ehl yes OR It may laity have havo been done don sometime but I have been at ot It only about ut a month said Full that some Home of ot the now new hUll hud refused d to publish the time ells die dispatches patches without marking them as 1111 ad advertisements MUTUAL IA lAIN Walter Valter S Sullivan followed Mr Ir Smith He lie said he lie haul had charge of or thin the magazine for time till Mutual Life Ufe Ho know knew nothing of ot tim th vouchers for tOI nd md signed by John U lC hi Ashue James IC C or 1 W II He lit said H vs H HS lIal paid l by uy the Ito Mutual Life for or and nAW or nil ad last year lIr of ot which ivas ox ed I hi III mu I ram ice IiII 1111 ier 01 Mr Mi lt Sullivan sold said the emit out h by 13 Mr Smith wea vemo sent out oUI largely at Itt the request of ot the papers The sum of ot wee lMA expended III In ISO for foi III the e notices Mr 11 Sul Rul Sullivan luau livan that clipped from magazines by for fOI lion about a mm question that President could not anH ans ansWer were soOt nent to the thu manager In III whose territory they thuy originated d lie He I 1 a statement ug time lite business done i In this Ihl mail order aider 1 d de department which showed showell that thai of ot coupon received In Imi 1904 1301 22 were vere II turned over to 10 C II Jr Co tho Metropolitan district Wit Vi flees neRM 81 said hI that the Mutual LIft Life used about 2 25 in for fOI purposes und timid the this cost of oC III in these last hut year was 1011 In Ju this thieve were veru Im II by the tha lie coupons for fr about Wit this was u the end coil of oC the tho that tho Iho general pave gave Ive to tIme the I nent and that time the general effert 1 of ot advertising WOK wait of ur till far greater value titan than tho ha coupons lm 1 8 O i treasurer ot or the thu Mutual Life 1 ft followed Mr 11 Hul Kul to testify as 1111 to 10 th thin the subsidiary companies of or the lie Mutual Mr 1 he lue WM na II a director In iii thu Iho United States Trust arti represented tho time Mutual Life on that board The notation flotatIon of oC thin tho securitIes of ot tho Iho Traction Willi taken takumi up till und and Mr that Im lie bought seine Home of ot thu timo stock mock at 15 although 1 18 8 and amid 20 O was wan paid for lot It b by some A II also 1110 bought ht stock lolk to 10 thu the amount Mr 11 on of lit SOIl COO Sharon After Aftertime time the public failure of if tIme the wit vIt witness ness hess said Mr Mc Ir McCurdy fold out get KII getting i ting illig 30 for U it When that HID traction CUI cum capt pany won was van Willi a n member of oC the time committee on omi roon reorganisation OIl aunt and represented the time Mutual Life Lite OF Mr III wan RK ce to 10 records and amid John II H liegeman president dent of the Metropolitan Life Lito van viiu VII culled 11 He lie has buss beon heen president for tour four fourteen teen years yearn I He Os the time two tun de department II of ot Insurance lilt its ordinary ant and Industrial Hn II |