New-York tribune., 1882-03-11
PRICE FOUR CENTS.
LEGISLATIVE INQUIRIES.
THE SENATE INSURANCE COMMITTEE.

| WITNESSES EXAMINED IN REGARD TO II. r. PIER
SONS RECEIvERsHIP OF THE NORTH AMERICAN.
The Senate Insurance Committee met at tho
Metropolitan Hotel yesterday begin the investigation
OF receiverships OF insovent corporations. The mem-
bers present John J. Herman chairman; Joseph
Koch Charles H. Russell, George p Lord, Shepherd y.
Bowen and Robert c. Titus. Homer A. Nelson the
only member OF the committee absent. Hudson c.
Tanner the Senate stenographer John w. Corning and
two other clerks in attendance 1t 2:3O p
before any witnesses ready for examination Tbs
y gestigaton then began with the receivcrship OF
Henry r. Pierson, Of Albany, OF the North
| American Life Insurance Company. Senator
| Titus, of Buffalo. conducted the examio alton.
w. b. Williams, Of the firm of Van Dyke * Wiliams.
bankers and brokers OF this city, the first person
amined. He not very willing witness, and his ap-
parent difficulty in understanding the questions asked
him made his examination rather long and tedious. e
failed to produce all the books checks drafts and other
matters pertaining 10 Mr. Persons account with tho
rm which he had been subpen9d TO produce but prom.
ised TO bring them to-day IL he could In the meantime
find them many OF the firms papers had been divided
aud packed away since the death OF Mr. Van Dyke,
OF the partners In substance he testified follows
ave are bankers and brokers, but
business is confined principally to broker
Gge. cannot tell when Mr. Persons
accounts with first began, have not all the books
with Inc, but 1t before 1879 We kept two accounts
with him,-one a special loan account and the other
his agents IN buying and selling sOcks The special loan
account in the book have with began October 22,
1850, when he is credited with 100000, and We
charged him with colaterals lie paid interest for
carrying his stocks and paid him interest on his
loans, the would pay any bank or insurance
company. Thd next loan transaction was November
49, 1880 when credited him with 95 900 and charged
him with cOla.eras The only loan evidently
closed and new one opened"
Mr.. T1tus-Was not the difference between the two
loans the you paid him for the of the money.
did 1t represent a loss which Mr.. Pierson had sus
tanned on stocks you held for him, and which was
charged up in this wsyl
The witness-I done know now. can't tell what the
difference consists in We always gave coaterals which
of value at the time twenty per greater than
the loan Tho collsterals sometimes in our pos
session and sometimes were taken away But If IN
possession, they were kept in separate box. They
ssa SnPF
made these loans to us by check or not or what banks
paid us by che ,k We paid as general thng per cent
Interest the loans We borrowed the money OF him
know whether / made the loans with Mr. Pierson not
the next loan was November 20, 1880, and was for
Mr Ttus-suppose Mr. Pierson had bought stocks which
yer books sG so Bs you eou 20 s
The wtness.-No. The next loan was December g. tho
same year, for S9l l,0O0j the next December g. for
$40, 900 and the next December 20 for 100000 As
this time had loans from him as receiver to the ex
The fitness then read from his ledger the other loans
Received from MI persOa as receiver which were % as
entered the day and for amounts VARYING from
little that he was excused until to-day .
Samuel II. Kissam Of the firm of Kissam, Whitney h
firm was organized in 1850 as the successor 10 Chase
Atkins Mr. KIsssm had been unable he said to brng
all the books and paper called for by the Subpoena He
We kept two accounts with Mr. Pierson. ono as re-
celver and the other banker. Our account as re-
ceiver represented loans which We had from him,
in which bough, and sold stocks for hum comms
SION 90 not Know why TWO accounts were opened In
that we had an account with him as receiver knew
ressOn which did clearly understand. was never
told that was an account with BIN as receiver OF the
of any other insurance company. The account
as receiver was transferred to us from the
wa %S - We wero Carrying Stocks for him at the
same time to the amount OF about sS0oQoo The & ae-
amounts at various times do not think dras or
good his account as banker, but cannnot tell Tho
books would not show.
day.
THE ASSEMBLY PRISONS COMMITTEE.
AN INQUIRY TO BEGIN TODAY AT SING SING.
An investigation was to have been begun
at sirg Sing yesterday by the Assembly Committee
Prisons IN regard charges recently made against the
contract system by H. II. Campbell former keeper. As
the committee did not reach Sing Sing until o'clock
last evening, the investigation postponed until tbs
morning.
l.. *. CanpDCu mas Decn suDpGDaed as tnc nrst
John O'Brien, of Dutohess, is chairman OF the
committee which consists Of Assemblymen McDonough,
Keyes, Raines and sheldon. The charges in question
have been published and were brought TO tho attention
Of the Assembly by Mr. Brooks, Of Richmond.
They were mainly to the effect that the hard work
tailed by the contract system added to the harsh
used secure the appOrtioncd amount Of labor
from each convict, broke down the healthy men aud
sent weaker to the grave This illustrated by
detailed history of fourteen fifteen deaths in Sing
Sing occurring within the last two years.
The prison authorities have made
tended reply to these charges They say that the
hs detailed IN these publications make up about half
Of the whole number which have taken place these two
years Eleven deaths occurred In 1880 among 2,2Oo
cOnycts and seventeen IN 1ssl, anIOns 23cO-beEg
about four times favorable showing as New-lork
City makes.
It was remarked at the time the charges made
public that many of the deaths detailed with much
minuteness by Campbell occurred after his departure
prison. It is discovered that the state
mcnt charges written mp by convict inside the
prison and out to Campbell through some fteDfy
but unknown hand Campbells sole part IN tia
10 the publication OF the state
mcnt last week. Guided by the same Information Which
led this dscOvcry, tue prison authorities found
Ond written statement n OF the cOnyicts cells,
which TO have been forwarded TO Campbell In the
same manner