| Show INSURANCE MAN TELLS TALE OF PITILESS persecution tells investigators that his inducting indicting Indic ting of thief hired by equitable caused company to seek revenge new york dec 14 during the insurance investigation today ednanl W scott president of the provident savings life assurance society made an earnest appeal to chairman armstrong of the investigating committee to exclude from abo bearing certain statements boating on hla relations with tho equitable life assurance society of which ho was formerly australian agent charles E hughda counsel for the investigating committee had asked air scott whether the equitable alfo assurance society had not a claim of against him mr scott at first declared that there was no euca claim against him and mr letters that pase od between mr scott and president alexander on that subject in 1901 in which president alexander asked mr scott to make a formal admission in writing that his accounts with the society showing balances of due the society were accurate ono letter president alexander wrote that mr scott had accepted the accounts mr scotts letter to president alexander proposed a conference but made no admissions aa to tha acceptance lif the accounts when letters had been road president scott mada an pica to tha committee to rule that this subject way foreign to the investigation lie declared that he bud been pursued by enemies for several years that in asoo he efured the arrest tind indictment of a man alio had engaged with the equitable life assurance society to deliver to it records stolen from tho provident savings alto assurance society that n treacherous bookkeeper who waa in league with this man was the provident ao clety i employ jw aliat it was in connection wilh matious that he mr scotts relations with alie equitable to tho corn bluee and in a splint of revenge though mr did not uncover just what the moiety claim against mr scott was based on he brought out from him ha that the equitable society had made a claim upon him and that mr scott refused to it another incident in the of mr scott was his statement that when he bought control 0 tha provident life society acock he used which had been lent by that company to two of its in order 10 enable them to buy elarea of its stock they did not buy the stock and mr scott said ho took over taft loan and delivered to th a pro to turn over to it shares of its stock when bo got the tock it is now held by a trust company to whom ho ath ow occo CO which ho borrowed to buy it child insurance was taken up mr taft of various states to regulate it colorado he said haa prohibited it he averred that the charge that industrial insurance Is child insurance almost exclusively is untrue that it covers entire families in a great many instances and that in all these years no instance of child murder for insurance has been reported he fraid the amount of a death claim to bo paid on a childs death is limited and that in fact insurance doca not lapse eo readily aa among adults senator armstrong asked it any legislative isla tive action will aid the metropolitan to reduce expenses mr elske said he did not think tiny kind of legislation waft needed regarding tha lake shore railroad stock which the metropolitan bought from william A read the witness said that mr read and george P butter divided the profit ot 10 a bhare on shares and kept it as a commission edward W scott president ot the provident savings life assurance society next testified ho eald his company has retained andrew hamilton only in legal cases as previously described bed mr scott was examined concerning his purchases of the stock ot the fco clety and how he raised the money sir hughes read a statement la belled the campaign expenses of the provident savings life assurance company showing the payment of to J oils wardwell of boston for appearing before com and of to republican national and state committees mr scott A ald that walter C wryght a balta moie actuary vas employed by the tennesee insurance department in lal to examine tho provident society and that in 1902 the company employed him for several services and hn paid him 2500 to statements wore read showing that the total premium paid to the society in the last ten years amounted to that it paid to policy holda ers in the baroo ainie and its assets a increased sir hughes showed mr scott a letter bearing on his former relations i with the equitable society which mr scott identified as one he received from the equitable society he said this waa an attack on hia personal character foreign to the affairs of the committee and a nd was brought up for the purpose of revenge 1 I should not said mr scott bo brought up here to my injury and to the injury of my family and of tho policy holders of my company I 1 ask you mr to rule that it ia foreign to this inquiry mr pressed the whether mr scott owed the equitable any money witness bald he had accounts with the equitably society one of which ho called the australian account and which he aalde had been settled by him to the satisfaction of uio equitable society another which he called the old city account witness said ho refused to pay and had no demand for payment in the last seven or eight years |
