| Show caretaker Is examined during insurance in but cannot explain mutual expenses metropolitan salaries ts ew york nor 9 the house in albany new york which testimony before the insurance committee ha f heretofore shown ft as for a number of years maintained by funds of the mutual lite insurance company was again given some attention by charles E II counsel for the committee when michael P the caretaker of the house was called today as a witness mr testimony was in great part a corroboration of previous testimony that A C fields while employed as stationary agento of the mutual also looked after legislative matters and paid the rent for the albany house today a number of voun chers signed by uey were identified b y the witness who acknowledged receiving the money for them some purported to be for legal services some for sundries and borne tor traveling expenses witness said he was not a lawyer and could not explain why vouchers were made out to that item J M fleck counsel for the mutual however took occasion to remind the that all vouchers tor the maintenance ot this house it had been testified were charged to legal expenses mr hughes said that did not ii u auie were lor traveling expenses and some tor sundries could not tell what the sundries were they were supplies he had taken tripe to new york to see mr fields at the batters lat house he did not know bow many times he had been to new york he sometimes bought tickets for mr fields nineteen vouchers were identified by for all of which be admitted he received the money which aggregated these were paid between march ath 1900 and july 12 1905 said his salary was 23 a month he had never carried any money to albany from new york for mr fields and bad never paid out any money tor mr fields the greater part of the day william bacues sr formerly of albany but now living at nantucket mass sat in the committee room waiting to bo called but late in the afternoon be was excused for the day mr barnes figured in this investigation several weeks ago when vouchers for legal services bearing his signature were produced together with a letter signed by william barner jr ot albany reminding the mutual life that bis fathers honorarium had not been received and further asking that a check bo forwarded the metropolitan lite insurance company figured in th e greater part of the days proceedings john R liegeman president of the company who was on the stand when adjournment was taken yesterday vaa the first witness today and the expenses of the company were further gone into it waa brought out that mr liege mans salary is the same as that of john A mccall president of the new york life previous to 1905 mr hegeman received the salary of haley fiske is H gaeton second vice president receives and frank 0 ayres third vice president receives 1260 the work of agents in the field and their compensation was taken up with mr liegeman and later james craigh the actuary was called to supply details as to figures with mr Heg einan was not fain liar 1 aie in ue day hen mr craigan had been excused mr hegeman was again called and the subject of tho com banys iraa taken up but the had hardly begun when adjournment for the day was ordered mr hegeman said that when the finance committee consulted him about increasing salaries in 1904 1 I said that I 1 had received for two years and was satisfied patis fied and gratified and did not need any increase they agreed however in consideration ot roy thirty five years service to increase it to I 1 have not drawn if however and dont intend to do so 0 all the words that t abhor the perpendicular pronoun haq the primacy but I 1 would like to say that have avoided a salary of only and hae with the company to my pecuniary disadvantage fifteen year ago I 1 was guaran teed to go elsewhere you complaining yesterday of the great expense at the industrial insurance was this matter ot expense taken info consideration when the salaries were increased asked mr hubbes everything was into con ara you making any serious effort to reduce expenses we are always doloff so la what line have you dono so it would be hard or me to elate answered president ITe eeman in reply to questions by mr hughes sir hegeman saad that the section ot the state insurance law dealing with surrender values is waived by policy holders of the metropolitan company and that bo was not aware that in certain states this waiver was hold to invalid cioe president elske interrupting said the waiver was held to be invalid in missouri asked what he did about that mr hegeman said he complied with the law and that after premiums bad been paid for five years the company paid surrender values five per cent of chef policies issued by the company he said provided that after paying premiums for alve years the policy holders snail receive paid up insurance but only for the period of his expectation of life as tabulated on the policy mr hegeman did not know any this limitation was fixed mr hegeman was unable to answer any questions of detail and james M craigh actuary of the metropolitan life insurance company was called he described the system of the metropolitan ro in placing rate bi premium on policies and the various forms of policies issued by the metropolitan mr loughes questioned the witness relating to infantile business do you have a reserve on infantile insurance he asked yes we are carrying reserve in excess of what it would have been had it been written as lifo policies infantile insurance since 1895 has been written on the endowment plan mr craugh declined to say what proportion of those insured at the ages of two and nine years respectively would reach maturity of those insured at nine he said the number reaching maturity woula be small mr hughes elicited the fact that the average proposition of lapses in one year infantile endowments was about 56 per cent following mr craugh micheal P was called he said ha had been employed by A C fields tor twelve years mr fields paid his salary but at U is paid by mr carpenter jhb Is also an em aloye of mr fields and who on the stand testified that aba leases of the albany house were taken out by him carpenter A voucher dater january signed by mr was identified by the witness and was a receipt for services and disbursements bur of for the mutual life witness acknowledged receiving the money and said it was for supplies wages and traveling the latter was for trips to new york to see mr melds he did not know how much was tor traveling and aid how often he came to new york further than that ho camo only when he was sent tor the blotter ot the mutual life was procured at point and the entry there charged as for traveling witness said he frequently bought tickets for mr fields for new york but answering the question from mr hughes acknowledged mr fields was not in albany last fall or winter prior to january 2 1903 and that mr fields left albany ab the of th legislature During the session witness troy tickets for mr fields about once a week witness said his wages were 25 a month overal other vouchers were shown the witness who identified them and acknowledged receiving the money for them witness said ho was not a lawyer and five of the vouchers for legal services amounting to looft witness could not explain T M deck counsel for the company reminded mr hughes that it bad been testified to before that all expenses of ane albany house were charged on the books of the company as legal expenses but mr hughes said some 0 the vouchers were for traveling and others for sundries between march and july 1903 there were 19 of these vouchers aggregating P B dutcher the witness anew and said he lived at the house in albany last year A voucher signed by dutcher and dated chicago january lath 1903 for for legal services was introduced for record witness said he had carried no moneys to albany mr fields and was then excused mr was then recalled he denied the agenda were encouraged to hold out an inducement that tha metropolitan la a mutual company AH bulletin to agents waa shown witness who said he was out of the country at aber tonao but that mr elske wrote it thia bulletin stated that this company is practically a mutual company witness said the company assumed its agents told the truth and there ia nothing in its literature that it imply it la anything but what it is witness said that no koneya were paid for purposes by the metropolitan except in the retention of counsel to appear before committees obnoxious measures among those were bills in aliat liat a dozen states to do away with infantile insurance these expenses are charged only to legal expenses in the company paid and this was reported to the state ingui once department uhe subject of aae valuation of the securities held by the was then taken up jiin mr liegeman |
