VOL. XLV.- NO. 13,999.
PORTLAND, OREGON, FRIDAY, OCTOBER 20, 1905.
PRICE FITE CENTS.
W
ITU-PILGRIMS'
EYES ARE DPEN
Inland Empire Throws
Wide Its Gates.
GREETINGS ARE MOST CORDIAL
Ambitious People Are Willing
to Cement Friendly Ties.
SOME DEMANDS TO MAKE
Excursion of Portland Businessmen
on the Way to LcwhHon-CIarks-ton
Fair Is Experiencing
Pleasant Surprises.
LEWISTON. METROPOLIS OF
NORTHERN IDAHO.
Lewlston. Nez Perces County, Idaho
Population. COOO. County seat of JCer
Perces County: beautifully situated at
the Junction of the Snake and Clear
vratcr Rlers, and surrounded toy one
of the richest farming, fruitgrowing,
stockraislng and mining regions in
the Pacific Northwest. It was the
camping place of Lewie and Clark In
October. 1805, and was the capital of
Idaho Territory in 1603-4. The town
has fine -waterworks, electric light
and seworage systems, five churches,
the State Normal School, private
academlos tor boys and girls, and
good public schools; three newspa
pers, three banks, a number of the
largest mercantile houses in the state,
two flouring mills, St. Joseph Hospi
tal, the largest In Idaho, costing
about 125,000; two sawmills, a foun
dry and a sash and door factory.
The United States land office Is here.
A splendid steel bridge unites Lewis
ton with CI arks ton on the opposite
side of the Snake River, thus virtu
ally combining the namer of the two
famous explorers In a dual .pity. The
C.arketon Irrigation Company has in
vested $1,000,000 In canals, ditches
and ther Improvements. The city
is the supply and distribution point
for all the great mining regions about
Buffalo Hump. Elk City and Florence,
and has dally lines of stages to all
important camps. It Is growing rap
idly and , no place in the country
offers more or better opportunities to
those seeking either homes or invest
ments. The Lewlston region shipped
last year an aggregate of about
10,000,000 bushels of wheat, oats, bar
ley and flax, besides proportionate
quantities of lumber, livestock, wool
and fruit. What is said to be the
finest forest of white pine in the
United States covers 3.000.000 acres in
the Clearwater Valley, above Lewis
ton, and Immediately tributary to
the town are 1,500,000 acres of fine
farming lands unlnclosed and unim
proved. The county still contains
over 230.000 acres of free Government
land. Oregon, "Washington, Idaho and
Their Resources.
WALLA WALLA, Wash., Oct. 19. (Staff
Correspondence.) Portland business men
will do well to leave town oftener. and
to leave in a body. They are learning a
few things on this somewhat spectacular
excursion to Lewlston and the Clearwater
country, via Pendleton and Walla Walla,
and the first and most important of them
s that they have no "cinch" on the trade
of this splendid empire.
The people are friendly enough, and, are
willing and anxious to be more friendly.
They like Portland and Portland people,
for they think that Portland takes a more
active and wholesome interest in them
than any of the Washington cities. But
they have ambitions and purposes of their
own. and these are to do the best they
can for themselves at all times and under
all conditions.
They think Portland and Oregon have
made a "wonderful record for the entire
Northwest in the Lewis and Clark Fair;
but they feel, too, that they contributed
In no small degree to the success of that
great undertaking. s
"Walla "Walla Wants Rates.
Ex-Governor Moore disclosed the true
feeling of the Walla Walla business com
munity in a speech this afternoon, when
he intimated that Portland did not take
enough interest in the upper river. More-
ox cr, h deemed it a proper thing for
Portland to help out Walla Walla in its
struggle for lower distributive Jobbing
rates, bpokanc has them, so that it prac
tically controls a Jobbing territory within
a radius of 100 miles; while Walla Walla
can successfully meet competition only
within territory not over 20 miles distant.
Walla Walla thinks the railroads have
I given Spokane the best of it; and she de
mands, very politely, but none the less
very insistently, that Portland shall make
common cause with her in enabling her
merchants to compete with their thriving
rhal on the north.
Just what effect this novel and ner-
haps unexpected request from Walla Wal
la will have on Portland's own trade, if
granted, is a problem yet to be worked
out For it will produce other complica
tions If Walla Walla shall be civen bv the
I benevolent despots who run our railroads
discriminative jobbing rates and no rn
loan say that Walla Walla should not have
Jthem. if Spokane has them what reason
an be offered for refusal to rrant them
to Pendleton. Colfax. Moscow, Lewlston.
and even' other aspiring trado center of
the great Palouse and Clearwater and
.matllla countries? Portland business
men have found out that these things are
very much in the minds of the merchants
and traders of Eastern Oregon, Washing
ton and Idaho, and they are going to be
more in their minds as time rolls on.
Pleasure Mixed With Surprise.
I started out by saying that Portland
should come up Into this country more
frequently. I think it is a fact already
obvious to all visitors that the undoubted
pleasure of the people here at seeing them
is mingled with decided feelings of sur
prise that they thought it worth while
to come. They already had several broad
hints to that effect, offered gently and
courteously, but nevertheless made so
that their meaning wag quite clear.
Portland business men never undertook
so large an excursion. That it has proved
so brilliantly successful is due primarlly
to the genuine interest the Oregon me
tropolis feels In the entire Columbia Basin
and its development, and secondarily to
the complete arrangements made by Mr.
H. L. PIttock, chairman; to Mr. Tom
Richardson, manager of the Commercial
Club; to Mr. Hugh McGuire, and several
more of their efficient lieutenants.
The Portland pilgrims have everywhere
been invited to come again, and they have
been glad to say that they will do it;
and they will keep their promise because
they have at all places been finely enter
tained, because they know that they will
have a good time when they come, and
because they are now fully convinced that
it is a wise and necessary thing for them
to do it.
Learns Something New.
It should be explained to the people
of this country that Portland has not vis
ited them before in 'just this style be
cause, and only because, that happened
not to be its way of doing things. Now
that It has learned the new way, and likes
it, and now that it knows that its hosts
like it, there is no danger that the invi
tation will not hereafter be accepted Just
as often as Portland can find it conven
ient, and that will be reasonably often.
These few remarks are preliminary to
the real story of the day, because they
are the things that must have impressed
themselves on the minds of every obser
vant person in the Portland party.
Arrival at Pendleton.
The Portland business men's excursion
left the city- at S;15 o'clock Wednesday
nighL Three Pullman cars, a diner, a day
coach and a baggage bar were at
tached to the regular eastbound O. R. &
N. train for the special convenience of
the Portland excursionists. They pro
ceeded without Incident to Pendleton,
where arrival was made at 4:50 A. M.
today. There the Portland party was
dropped and an early morning call was
received from a Pendleton business men's
committee.
The welcome was hearty but informal.
Such important citizens as W. J. Fur
nish, Stephen A. Lowell, W. R. Ellis,
Mayor T. G. Hailey, A. W. Nye, E. P.
Dodd. Bert Huffman and others made it
their especial mission to see that the
Portland people Knew all about Pendle
ton, and to show that Pendleton was alive
to the value and significance of their
visit. There were no speeches, of no
ceremonies, because the stay was neces
sarily short, and as Judge Lowell felici
tously put it: s
"Everybody knew just what they would
have to say, anyway."
Sentiment o Inland Empire.
However, It will be interesting to re
produce a formal address printed in the
East Oregonian, because it appears to ex
press exactly the sentiment of Pendleton
and other inland towns towards Portland
on the occasion of this visit. Here it is:
Pendleton Businessmen to the Portland Busi
nessmen's Excursion Greeting:
You have sent us your signal of friendship.
And we have received and cherished It. Tou
say that you are coming to sit by our tepee
fires. This is good. We hare waited long. We
.are now glad, and content. A warm as w&a
the hand of good-fellowship which wrote and
sealed your challenge of friendship and good
will, Just as warm Is the hand which oends
back the answer of Pendleton, the Queen of
the Arid Belt, to Portland, the Queen of the
River.
Tou say there is much more In life than
merchandise and trafficking; so mote it be.
Tou cay you are coming to see and learn and
make friends. We heartily, devoutly share
your aspiration. We will do more. We will
tie to you the cord thai binds us to you, bind
ing you to us. also for all time, let us eay.
The empire which has loaded your. ships and
burst your -warehouses with products, wel
comes you. It ! a big empire big enough for
all of us and a million more. We are clad
you are coming to see how It Is done. How
the wheat Is harvested and the snips leaded
for your wharves.
Both of us will have & better understanding
after this Journey. Wc are glad there are so
many of you. It is a good omen. It tells us
that our friend are multiplying. We are glad
that you thought of making this Journey. We
have visited you often, and now t are the
host and you the guest. Tou are thrice wel
come. We hope It will not be so long between
Journeys next time. After you have teen
among us and tied the cord fast and firm,
you will want to come again.
Pendleton's Beautiful Ilomes.
The morning was glorious, the sun
shone brightly after a nipping frost. The
adjacent foothills were partly covered
with fresh-fallen snow, and Pendleton
TOUR OF THE PILGRIMS.
FrHay.
Arrive. 7,eave.
Moscow. Ida. . 4:20 A. M. 4:30 P.M.
Lewlston. Ida. 7:30 A. M. 11:00 P. M.
Saturday.
Moscow. Ida... 2:00 A. 1L 1:00P.M.
Pullman, Wash. 1:25 P.M. 3:00 P.M.
Colfax. Wash. . 3:45 P. M. S:15 P: M.
Sua day.
Portland 8:00 A.M.
Towns Visited "yesterday.
Pendleton. Or.: Milton and Frcewa
ter. Or.; Walla Walla, Wash.; -Pres-cott.
Wash.; Waltsburg, Wash.; Day
ton, Wash.
appeared to great advantage. The visitors
had time only to walk a little .bout town,
and up on Pendleton Heights, where the
aristocracy of this prosperous little city
have built many beautiful modem homes.
If one could live always in such a home
as many Pendleton people have been able
to build on this beautiful . eminence, ho
would understand thoroughly why deni
zens here are so firmly attached to the
place and its fortunes.
Portland cars were hero made .up In
a special train and the start -was made
at 9:S0 .promptly ona.cheduIe time. A
(Concluded on Page 10.;
PUUIT
I RATE ISSUE
President Delivers Oration at
North Carolina's
Capital.
WANTS AN EFFECTIVE LAW
Not. Only Regulation of Rates, but
Examination of Railroad Ac
counts Students at Dur
ham Hear Addree?.
POINTS OF PRESIDENTS SPEECH.
The preservation of the forest Is
vital to the welfare of every country.
I do not believe in Government own
ership of anything which can with
propriety be left In private hands and
I do most strenuously object to Gov
ernment ownership of railways.
We want an administrative body
with the power to secure fair and
Just treatment as among all shippers
who use the railroads.
The delays of the law are proverbial
and what we need is reasonable quick
ness of action.
Private cars, terminal tracks and
the like mutt be brought under the
control of the commission.
The roost Important tMng is to give
this body power to make Its findings
effective and this can be done only by
giving it power. If It finds a given
rate unreasonable, to fix a maximum
rate. Just and reasonable, to go Into
effect at once and stay in effect un
lets reversed by the courts.
I wish the commission to have pow
er to make a full and .exhaustive In
vestigation of the receipts and ex
penditures of a railroad, so that any
violation or evasion of the law may be
detected.
I hope to sec all the power that I
think It ought to have granted to
the Government, but I would far
rather see only some of. It granted,
but really granted, than see a pre
tense of granting all in some shape
that really amounts to nothfng.
CHARLOTTE. N. a'. Oct. 19. The ova
tion which President Roosevelt received
during his Journey through a portion of
Virginia yesterday waK. continued today
as he traveled through North -Carolina.
Beginning with hls'arrl'val at P.alcigh at
9 o'clock tills morning, he was greeted by
cheering crowds at Durham. Greensboro,
High Point. Lexington. Salisbury and
Charlotte, the demonstration in this city
being a fitting farewell of the citizens of
the old Tarheel State.
The feature of the day was his visit
to the fair which Is in progress at Ra
leigh. Here he delivered an address
which dealt with the Important questions
of railroad ownership and the organiza
tion of capital and labor. His speech was
given close attention, and he frequently
was Interrupted by hearty applause. He
was accompanied to the fair grounds by
Mrs. Roosevolt. and she too was the re
cipient of much attention.
-M. Durham, where a stop of ten min
utes was made, the President devoted his
remarks to the students of Trinity Col
lege, who were gathered In force to greet
him. A fiatcar had been converted into
a gaily decorated stand, and from this
the President spoke. He was accompan
ied to the stand by Lieutenant-Governor
Winston, who officiated at Raleigh, ow
ing to the absence of Governor Glenn,
caused by the death of his brother, and
by both United States Senators Simmons
and Overman. Both of these Senators are
graduates of this college. In the course
of his remarks to the students the Presi
dent said:
There must be no coercion of opinion if col
legiate training la to bring forth full fruit.
Tou men of this college, you men throughout
the South who have had collegiate training,
bear a peculiar burden of responsibility. I
want you to have a good time, and I relieve
you do. I believe In play with all my oeart.
Play when you play, but work when you work,
and remember that your having gone through
college doea not so much confer a special piivl
lege as It :n-pores a rpecin obligation on you..
We have a right to expect a special quality- f
leadership from the men to whom much has
been given in the way of a colleriate educ.
Hon. Tou are not entitled to any special privi
leges, but you are entitled to be held to a pe
culiar accountability; you have earned the
right to be held responsible for what you do.
Each one of you. if he Is worth his salr.
wishes, when be graduates, to pay some j-or-tion
of the debt due to his alma m&ter. Tou
have received from her during your years of
attendance in her halto certain privileges In the
way of scholarship. In the way of companion
ship, which make It Incumbent upon you to
repay what -you have been given. Tou can
not repay that to the colleges eavein one
way. By the quality of your citizenship as
displayed in the actual affairs of life you can
make It an honor to the college for having
sent you forth In the world. That la the only
way in which you can repay to the college
what the college has done for you. I earnestly
hope that you and those like you In all the
colleges of this land will make It evident to
the generation that is rising that you are fit to
take the leadership; that the training has not
been wasted; that you are ready to render to
the state the kind of service which Is invalua
ble because it cannot be bought, because there
is no price that can be put upon It
We bavo the right to expect from coll re
jmen not merely their Interested service, but
intelligent service. The few people who aid
self-government always have to warn against
the knavish man who deliberately doea what
he knows to be wrong, but also agalntt the
foolish man. who may mean very well, but In
actual fact turns out the ally nt the other
man who does not mean well; arid we nturt
depend upon you men who have been given
special facilities In. education to guide cur
people aright, m that they shall neither fall
Into th.e pit of folly aor into the pit or
knavry.
A 'bit of sentiment was responsible. for.
a short stopRt Lexington, where the
President was'fc-reeted hy several -hundred
.people to .whom he spoke-briefly. Lcxlng-
. ton, Is the. county seatjof Davidson Coun
ty, the only county In North Carolina
that gave President Roosevelt a major
ity at the last National Mectioiu' The
- -? V '
President was requested to stop for a
few moments to extend greetings to the
people and receive greetings from the 300
orphan children cared for in an asylum
there. The little ones made a pretty
sight waving tiny American flags as the
train came to a stop.
Tomorrow morning the President will
pay a visit to Roswell, Ga., the home of
his mother. From there he will go to
Atlanta, where most of the day will be
spent. Mrs. Roosevelt will leave him
when the capital of Georgia is reached
and return to Washington.
VIGOROUS SPEECH AT RALEIGH
President Declares Himself With
Emphasis on Railroad -Rates.
RALEIGH, N. C., Oct. 1?. A genuinely
hearty reception was given "President
Roosovelt today, when, as the guest of
the state and the city, Jie Joined In the
parade which first made its way to the
state Capitol and then to the fair
grounds. Crowds constantly cheered the
President's progress as his carriage
passed along the line of march. At one
point in the parade 1500 negro school chil
dren and students of negro colleges sang
"My Country 'Tls of Thee." The Presi
dent bowed right and left to these as he
passed. At the luncheon he made a brief
address.
Just before the President's train left, he
remarked: "By George, gentlemen, I have
had a good time."
With the music of the band and many
cheers as greeting to him, the Presi
dent In his special train pulled Into
the Union Depot promptly on time.
A reception committee of 100 citizens
and Lieutenant-Governor Winston wel
comed the President to the state In
the forced absence of Governor Glenn, who
is In Greensboro, at the funeral of his
brother.
There were thousands of people about
the depot as the Presidential party came
to the street. There was. a volley of
cheers, which arose again and again as
the President passed along tho street,
bowing to right and left, standing and
waving his hands ra pleasant greeting to
tne little children.
In tho carriage with the President were
Mrs. Roosevelt, Lieutenant - Governor
Winston and Secretary Loeb. About the
President's carriage, in addition to the
five Secret Service men, were a special
detail of the staff of Governor Glenn.
The residences, stores and public build
ings were profusely decorated and the
streets were roped from curb to curb.
The procession passed to the State Capi
tol, where in the Senate chamber were
w-aiting delegations of many ladles and
gentlemen, Supreme Court Judges and
others. Here all the party was presented
to President and Mrs. Roosevelt.
Loving Cup for Literary Man.
During this ceremony an Interesting
event was the presentation of a hand
some bouquet of carnations to Mrs. Roose
velt. A bunch of Bride roses was also
presented toher by William, the ycung
son of the late Lieutenant William E.
Shapp, and by Torth Bagley Daniel ne
phew of Ensign Worth Bagley, of' the
Spanish-American -War. an ori"ofJo
sephus Daniel, Democratic National
Commiti'eeman tmm . i i
A. visit to the-rienate chamber was for
w;c purwa oi naving the President, on
behalf, .Of the North Carolina, Literary, arid
Historical Society, present a handsome
&j gold loving cup, studded with North
Carolina gems, to John C McNeill of
Charlotte, as a reward for having pro
duced the best piece of literature In the
state during the year. This cup Is given
by Mrs. Lindsay Patterson, of Winston.
President Roosevelt was introduced by
ex-Governor Aycock. "
a -A-ycoc the first elected presl-
JSt0! l' made a Me
after which n nnmv.tt t- L
marks, extolling- the value 'of literary efl
tort, presented the cup to Mr. McNeill.
Wild Applause Along Route.
After the presentation, the line of march
was resumed to the fair grounds, tho
road the entire distance being thronged
with people, who wildly applauded the
President and Mrs. Roosevelt. Ptlcu!
C Concluded on Page Four.)
CONTENTS TODAY'S PAPER
The Weather.
TESTERDAT'S Maximum temperature. M
fIT niK,.Um 37 Precipitation, none.
wlnFs. F d Wraer' Etr
Foreign.
Kustlan strike nd peacefully. paRe 4
tvro ,h,ps Jn Caribbean ready to
attack Venezuela. Page S.
J t.Wl,i c!,ebrate ctory" with parade of
captured ships. Fage 5.
NaUeaal.
President Roosevelt In North Carolina
speech on rates at Raleigh. Page- 1.
Messages of thanks from Crar and MIkado
to President. Page 3.
Canal Commission announces course regard,
tng plans. Page 4.
Railroad men tell how they fix Icing charges.
FeUUcs.
Jerome fltys Murphy, the Tammany Jader
and contrasts him with Croker. rage 5!
Murphy says Jerome sought Tammany nom
ination: Jerome dmalet U. 'Page'5.
McClellan speaks on municipal ownership
Page 3.
Domestic.
McCurdy aays be will not resign and testifies
about Mutual Life's relations with trust
companies. Page 1.
CunllfTe captured, also bulk of stolen money;
he burned some. Page l.
Affairs of Enterprise Bank In bad muddle.
Page 3.
Armour makes J 1.000,000 on wheat deal,"
Page 3.
Seals drubbed br the Giants. Page 7.
Pacific Coast scores: Portland 4. San Fran
cisco 1; Oakland S. Seattle 4; Los An
geles A. Tacoma 3. Page 7.
Pacific Ceasf.
Portland businessmen on a pilgrimage in
the Inland Empire. Page 1.
Bands and balls too expensive, says Guber
natorial Candidate Johns. Page 6.
Walla Walla penitentiary will be thoroughly
Investigated, says Governor. Mead. Page 6.
Inheritance tax will be collected In Washing,
ton. Page 6.
Heavy order given on extension of Idaho
Northern to Meadows. Page C
Commercial aad Marine.
Unusual advances in rice and other groceries.
Page 15.
Railroads place big orders for equipment,
rage 15.
Heavy receipt cf Oregon grain at San Fran
cisco. Page 15.
Slump In wheat at Chicago. Page 15.
Stock market In professional hands. Page 15,
Construction of Celito Canal under way.
Page 7.
rertlaad. aad Vicinity.
Brooklyn Republican Club active In civics
and politics. Page 11.
Ben C. Ely beaten and kicked by Ground-
keeper" Hlgglnf. Page 10. s
Heted argument over scalperif'case.. Page
1 14. ' ;'
Work of 'the Travelers' Aid Socleiy, Page
.... . . t;.; .
Womn lurejd tp'dlsT'putable llves Page 16.
Charles Zueblln tells how to make a city
gteat and'beautifur. Page 10." "
NO RESIGNATION
about iran
Mutual Life President Cannot
Be Driven Out of Fat
Office.
TRUST COMPANY DEALS
One Controlled by McGurdys Pays
tower Interest to 3Iutual Than
Others Robert McCurdy's
Costly Travels.,
NEW YORK. Oct. 19.-Richard A. Mc
Curdy, president of the Mutual Life In
surance Company, made the statement
today that he had no intention of resign
ing, that he was elected to serve until
June 7 next, and that nothing can or will
drive him out. It was also announced
from the District Attorney's office that
no action will be taken regarding the
George J. Plunkitt matter, that was
turned over to the District Attorney yes
terday by the legislative committee that
Is investigating the Insurance companies.
Closing one of the most sensational and
strenuous weeks of the insurance inves
tigation, the committee Just before ad
journment today concluded the examina
tion of Mr. McCurdy, with the exception
of a few details he is to supply next
week.
Mr. McCurdy has been on the stand
the greater part of the three days of
this week's session, and some of his tes
timony has been the most startling of any
that has been adduced before the commit
tee. His testimony today, however, was
very much of a technical nature, though
it was of much value to the committee in
Its work.
Relations With Trust Companies.
When he resumed the stand this morn
ing, it was totake up his testimony as
to the Mutual Life's connection with trust
companies, that was interrupted by ad
journment yesterday. The information
furnished by Mr. McCurdy disclosed that
the trust companies with which the Mu
tual Life was connected became very
prosperous soon after they were taken up
by the Mutual Llfe Two cases in point
were the Morristown Trust Company, at
Morris town, N. J., where the McCurdy
family lives, and the United States Mort
gage fc Trust Company. The former is
now controlled bv the Mutual TAf- and
Mr. McCurdy testified that besides being'
a director of this company, he Is a large
stockholder, and would take more stoclc
ll he could get It. The Mutual Life keeps
a balance of not less than J20O.O0O with
this company, on which it-draws from 2
to 3 per cent. The latter rate has been
paid only since September. Mr. McCurdy
did not know the holdings of the other
members of his family in this company.
"Was After His Commission.
In the syndicate operations, Mr. McCur
dy said that he participated not with the
idea of drawing bonds but to obtain his
share of the commission allowed by bank
ers. Mr. McCurdy "was asked what life In
surance he carried, and he was unable to
say at once, but James M. Beck, his
counsel, presented a statement showing
when the policies were taken out, for
what .amounts and the plan. These aggre
gated WW.CCO. all In the Mutual. Mr. Mc
Curdy testified that he was also insured
In the Equitable, the Washington and the
Connecticut Mutual.
BeforcSe left the stand. Mr. McCurdy
said he paid JH50O for his apartment at
the Grosvenor building, which Is owned
by the Mutual.
Son Robert's Travels.
When Mr. McCurdy was excused, his
son, Robert H. McCurdy, was called to
explain some charges for traveling ex
penses in 1S04. He said one of his duties
as general manager was to visit the
agencies about the country. Three such
.trips were made, the expense of which
"aggregated about $3500. Mr. McCurdy said
"that, while on one trip, he was accom
panied by his father, mother, wife and
the lattes maid, but that the expense
accounts were for himself individually
and did not Include those of any other
member of his family or party. He had a
private car on one of. these trips. He
could not tell why the expenses on these
trips were so large, but said he would
furnish the details later.
Mr. McCurdy was followed by W. W.
Richards, controller of the Mutual, who
explained the manner In which the Mu
tual acquired some properties by fore
closure. The committee adjourned until
next Tuesday.
Bought Trust Company Stock.
When Richard A. McCurdy resumed his
testimony, a list 'of bondu and stocks
owned by the Mutual Life Insurance Com
pany June 30. 1503, was presented for iden
tification, and then the relations of
the Mutual Life Insurance Company
with the United States Mortgage &
Trust Company were taken up. The
Mutual Life Insurance Company was
Interested in the original acqulstior.
of the charter of this company, Mr.
McCurdy said, but not exclusively, be
cause It was. desirous to have other
corporate interests interested. The
daily transactions of the company
were not influenced by" the Mutual
Life Insurance Company, although the'
majority of its directors were repre
senting' the Insurance company. The
Mutual Life Insurance Company was
glad to take the debentures of the
United States Mortgage & Trust Com
pany against Its mortgages - because
there was really no risk in them, with
the Mutual's large deposits.
. Witness did not think that the in
surance companies were led into
purely speculative transactions be
cause of connections with subsidiary,
companies. The Mutual Life had a
substantial participation in the
Brooklyn Wharf & Warehouse Com
pany, and had it not had some interest
in the United States Mortgage &
Trust Company, would never have had
an opportunity to Invest in it. The
Brooklyn Wharf &. Warehouse" Com
pany went into the hands of a re
ceiver. Other securities in whichthe
Mutual invested by reason of Its con
nection with the United States Mor
gage &. Trust Company were those of
the Washington Traction & Electric
Company in 1901. Mr. McCurdy said
he was not conversant with that mat
ter. McCurdys Control Trust Company,
While the committee was waiting for
some figures relating- to it to be produced.
the relations of the Mutual Life Insur
apce Company to the Morristown Trust
Company were taken up. Mr. McCurdy
said that, when the stock of the Morris
town Trust Company was Increased to
$600,000 in 1S9S, he: secured control by in
creasing the Mutual's holdings of stock.
The Mutual Life Insurance Company now
holds ?173".C00 worth par value. The stock
was placed at a book value of 1200 a share
and the company paid the Mutual Life
Insurance Company 2s to 3 per cent on
Its deposits. The present rate was 3 per
cent.
Mr. McCurdy said he did not have the
figures showing the holdings of the Me
Curdy family and officers of the Mutual
Life Insurance Company. He said that
prior to 1S98. when the Mutual Life Insur
ance Company flrst became a stockholder
in the Morristown Trust Company, the
w.ltness and. members of his family did not
own any great amount of the trust com
panya stock. Mr. McCurdy said that he
owned 512 shares of the stock, and he is a
director. Several members of the finance
committee of the Mutual are members of
the executive committee of the trust
company. He presumed that Louis A.
Thebaud. hlo son-in-law, was a stock
holder of the trust company. The Morris
town Trust Company, he said, paid divi
dend? of 13 per centv the rate having In
creased 2 per cent annually for several
years.
Mutual Got Low Interest.
The Mutual Life Insurance Company's
deposits with the Morristown Trust Com
pany amount to 52CO.0CO.- -For a year or
two prior to 1903, the rate of Interest paid
on Mutual Life deposits was 2 per cent.
Other depositors were paid 3 per cent for
years. In explanation. Mr. McCurdy said
that the trust company paid 3 per cent
to secure miscellaneous business and prob
ably would pay only 2 per cent to a large
depositor, who might withdraw at any
moment. Mr. Hughes brought out that
since January. 1S00, the Mutual deposits
In the trust companywere never less
than $300,000, and remarked that there was
not much in the fear that the deposits
would be withdrawn suddenly.
Mr. McCurdy was prompted as to the
dates by James Timpson, assistant treas
urer of the. Mutual- Life Insurance Com
pany, whose answers- were taken os those
of Mr. McCurdv:
Mr. McCurdy next testified to a sale ot
a. larg number of. shares of trust com
jwrny stock by tfie Mutual Life Insurance
Company on December 31, lSd, and a pur
chase of new stock of the trust company,
availing itself of a portion of an increase
In stock on January 2, 1S02. By this, he
said, the Mutual Life Insurance Company
made a profit of 1 SCO, 000.
Mr. McCurdy said he presumed he was
paid 3 per cent on his individual deposit
with the trust company.
Deals In Stock and Bonds.
Mr. Timpson was called to the stand.
He described the organization and the
conduct of the Brooklyn Wharf & Ware
house Company, of which the Mutual Life
Insurance Company took securities
amounting- to $3,300,000. It sold a portion
of these and bought new securities of the
same company, making- a profit thereby.
The Brooklyn Wharf & Warehouse Com
pany was reorganized In J90L because It
was not paying its expenses and divi
dends, and its securities were taken by
the New York Drydock Company.
Mr. Timpson said the Mutual still held
about J3.8SO.000 of the stock of the New
York Dock Company, having- Increased
its holdings 10 per cent when the com
pany was reorganised. He also stated
that the Mutual participated In the syn
dicating of the securities of the Wash
ington Traction & Electric Company,
which was formed to take over electric
light and railroad properties In Wash
ington. D. C.
This company wag afterwards reorgan
ized as the Washington Railway & Elec
tric Company. The Mutual withdrew
$3,000,000 of stock from the syndicate at
93 and Interest. Then, in June, 1903. the
Mutual bought $i;00O,00O worth xjf the
Washington Company's bonds from the
United States Mortggge &. Trust Com
pany at T5U. Tlmoaon l
vice-president of the latter company.
vkiien asKeu wnat led the Mutual Life
Insurance Company to mafc thi 1 .........
ment when the bonds had fallen IS points
wunin a year. air. Timpaoa said it was
probably done to avra7 ha -vr..ni
holdings down from 93 to S7&. Mr. Hughes
asked what advantage there was in that
except to snow a lower average coat.
Timpson said they nrohahlv
bonds were cheap.
Since June 20 last the Mutual had sold
its holdings of preferred and common
stock in the Washington Pnmnv
still held these bonds.
President Richard A. McCurdy was then
recalled. He said that hnth vo. j .1
utiu liJtS
Mutual Life Insurance Companj- had-200
shares each in the Fifth Avenue Trust
company ana mat the Mutual Life In
surance Company's denoslta in if
JLW&OCO.
McCurdy's Syndicate Profits.
Mr. McCurdy handed in the following
Hat of syndicates In which both he and
the Mutual Life Insurance Company were
interested:
, Participation
Syndicate of McCurrfT. Pmnt.
Third Avenue JUOO.000 J1.740
Chicago. Burlington Qulncy 50.000 J,i66
Oregon Short Line 50,000 1.113
Pennsylvania Railroad 100.000 1.5M
Republic of Cuba. 5 per cent. 100.000 3.450
Republic of Cuba -5a. nyn. sub. 50.000 U.442
Japanese 6s, first series 50.000 070
Japanese 6s. second series so.ooo 1 ttu
Japanese 4K 73.000 1.88IJ
Oregon Short .Line 75. COO 1.502
Southern Pacific b 150.000 3.725
United States of Mexico 4s.. 100,000 3,001
Atchison. Topeka . Santa Fe SO.000 sns
Japanese 4H 75.000 ....
Pennsylvania r.jfc cons 60.000 ....
Mr. McCurdy said: "I took these par
ticipations, not with the idea of taking
bonds from the syndicate, but to obtain
my share of the commission allowed by
bankers."
Made No Profit on .Mutual.
Mr. McCurdy said that In the case
of the Southern Pacific Syndicate the
Mutual Life Insurance Company bought
Concluded on Page Five.)
THIEF IS CAUGHT
H MONEY
Cunliffe Says He Burned $20,
000 to Conceal Evi- '
dence of Guilt.
REMAINDER IS RECOVERED
Shipped Nearly $80,000 in Old Suit
case to Brother-ln-Law, Who
Did Not Know Contents.
Excuse for Crime.
MC
BRIDGEPORT. Conn.. Oct. W. Ed
ward George Cunliffe. who was arrested
here today on the charge of stealing $100.
000 from the Adams Express Company in
Pittsburg, on October 9. will be taken to
New York tomorrow by detectives. A
detective told Cunliffe tonight that $S0.-
000 had been recovered at the home or
his brother-in-law In Bristol and pressed
him to tell where the missing- $3.0OO was
hidden. Cunliffe finally said:
"You will never get it; I have de
stroyed it."
The detective at first doubted Cunliffe's
story, but the prisoner stuck to it, say
ing that he had burned the money in
his rooms in the hotel where he stopped
here. He said that he was afraid that
the bills would give him away, as they
were of large denominations and prac
tically marked, as they were note ot the
Allegheny National Bank In Pittsburg. N
and that everybody wus looking for them.
Cunliffe said that, rather than carry
them around, he burned them.
If this statement Is true, and the de
tectives think It Is, the total amount of
money stolen is accounted for.
E. G. CUNIilFFE IS CAPTURED
Confesses Prlction Between Salury
and Responsibility Too Great.
BRIDGEPORT, Conn., Oct. 13. Edward
G. Cunliffe. the Adams Express Com
pany's employe, who disappeared from
Pittsburg, Pa., with $101,000 in cash, was
arrested here today. He made a con
fession and expressed his willingness to
return at once to Pittsburg. He declared
that the money which he took was in
tact, and that it could be restored, but he
declined to tell until his return to Pitts-
burg. On his person when arrested was
found S2S0 in. cash.
In "the presence of Superintendent Bir
mingham, Detective ThrOnhlll, Henry
Curtis, the local agent of the Adams Ex
press Company, and Captain Arnold, of
the Bridgeport detective force. Cunliffe
admitted that' he took the money.
"Five minutes after I took the money
1 was sorry," said he, "but it was too
lato to do anything. What can you ex
pect from a man getting a salary ot only
$C5 a month and handling thousands of
dollars a day. I was tempted and I fell.
I have handled larger sums. I remember
once when I had $250,000 in cash. I was
tempted then, but I thought it over and
decided to be honesL"
The robbery for which Cunliffe Is want
ed In Pittsburg was committed on the
night of October 9.
The capture of Cunliffe was accom
plished by the combined efforts of the.
Plnkerton men, officers of the Adams Ex
press Company and the Pittsburg police.
SUITCASE STUFFED WITH BELLS
Nearly 880,000 of Cunilfre's Plun
der Found at Brother-in-Law's.
BRISTOL, Conn., Oct. 19. Nearly $50..
COO ot the money stolen by George Ed
ward Cunliffe from the Adams Express
Company in Pittsburg was recovered to
night at the home of Joseph W. Board
man, Cunliffe's brother-in-law. For Just
a week the fortune had lain in an old suit
case, unknown to Mr. Boardman. who
was holding: the valise, expecting its
owner would call for it any day. The
exact sum found was $19,953.53.
As the result of the statement made
by Cunliffe In Bridgeport tonight that he
had sent $S5,00O of the plunder to Board
man, a representative of the Associated
Press called at the Boardman house and
asked Board men if that were so. Board
man, .who is a S'oung- man and the agent
here of the Electric Exprc, Company of
Hartford, said he had received no money,
but on October 10 a dress-suit ca?e came
to his house from Bridgeport, and, a.i
there was no name on it. he had not
opened It. His wife signed for the case
and Boardman placed It in a closet,
thinking it was sent to him as an agent
of an express company to be called for
later. Boardman told the Associated
Press representative that, if he wished,
he would send' for the police and that
they could break open th.e case.
Sheriff Mlams and Captain Belden. of
the police force, were then sent for. and
in their presence the case wag torn open.
Huge bundle? of money In the shape of
bills tumbled out on the floor and also a
black suit of clothes, a pair of shoes and
two shirts. As the money was belnsr
counted. Superintendent J. C. Curtis, of
the Adams Express Company's New
England agency, and WiUIam F. Mona
ster, superintendent of the Plnkerton de
tectives, drove up to the house and were
shown in.
Mr. Curtis then counted the money and
found a total of $79,953.53. There were
15 bundles of $100 bills, making a total
of $3).0Q0. and the rest, with the excep
tion or $3.oo, which was In a pocket In
the coat, was $50 bills. No one was more
surprised at the display of money than
Boardman himself. Mr. Curtis packed
the money In a valise and took the late
tram for Hartford.
Boardman says he has received no word
from Cunliffe during IS months and that.
If the fugitive had come this way. he
would have Informed the police. Cun
liffe? wife Is Boardman's sister, and, he
We he has had letters from her l'ce
Cunlirfe disappeared asking that biPtlo
all he could to find the missing man.
Accused of Stealing City's Rents.
CLEVELAND, Oct. 19.-Jolm J. KeUy.
clerk of the City Market-Houses Depart
ment, was arrested today on a warrant
sworn out by Director of Public Work3
Leslie. Kelly Is charged with ' having
failed to account for $70 in rentals col
lected from keepers of stalls at public
markets. He was released this evenlntr
on $15,000 ball. Kelly is under bond for
$5000.