The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-09-26
PRESIDENT ROOSEVELT WILL
ASK FOR NATIONAL LAWS
TO Place the Big Insurance compa.
nies Under Some Kind Of
Federal Supervision.
BIG DEALINGS WITH MORGAN
Brought Out by the Further Exam
ination Of George w. Perkins
on Thursday. t

| Investigations of the committee of the
New York state legislature came thick
and fast today First came the an
nouncement that President Roosevelt
| legislation is enacted that will place
! the big insurance companies of the
| state under some kind of federal SUPER
| vision; then came the admissions on
| the witness stand of George w. Per-
kins that the New York Life had had
! enormous dealings with the firm of J.
/ p. Morgan & Co., and tonight Thomas
! Taggart of indianapolis, chairman. OF
the Democratic national committee, ar
| rived in town to add his denials to
those OF former Judge Parker, Execu-
! tive Committee Chairman w. F. Shee-
han and Delaney Nicoll that no au-
thorized agent OF the Democratic ma
/ tional committee ever called on John
| Mccall or any other official of the New
York Life Insurance Co. to solicit con
tributions for campaign purposes.
Mr.. Taggart was mad clean through
when he reached the Waldorf this af-
|
the most emphatic manner that Mr..
Mccall had testified falsely when he
| said that the Democrats had bounded
| him for a contribution to their cam
! paign fund.
II knew all about Mr.. Mccall" said
Mr.. Taggart, "and j certainly never
called on him or wrote asking him for
a contribution to our fund during the,
last campaign. We knew that he was
contributing to the Republicans and
made that fact public, which probably
accounts for his unjustifable attack on
the Democratic campaign managers. If
| Mr. Mccall says that / or any author
lied representative of the Democratic
| national committee called on him or
wrote to him during the last campaign
soliciting contributions of funds, be
says what he knows to be a deliberate
| lie. ] am perfectly willing to take the
stand before the insurance investiga-
tion committee and tell them this fact,
and, If necessary, the Democratic ma
tional committee is willing to make
the names public of all who contrib
uted to its fund" Hr.uIt .
Have you come to New York to tes-
tify before the committee?" Mr., Tag
gart was asked. - - ar..
81 have not" he said; but If the
committee wants me, they can find me
right here at my hotel, and if ! can
throw any light on their investigation
l will be very glad to do So"
Mr.. Taggart said that he would re
main in the city for few days.
The chief witness before the legisla-
tive investigating committee today was
George w. Perkins of the firm of J. p.
! Morgan & Co., who is vice president
of the New York Life Insurance Co.
He was questioned rather sharply by
Lawyer Hughes for the committee re-
! garding the various transactions the
| New York Life had had with Morgan &
Co. He furnished the committee list
showing that the New York Life had
| bought securities aggregating S3S804,-
918.5O from ]. p. Morgan & Co. since
March, 1901, when Mr.. Perkins became
member of the Morgan firm. He also
| furnished another list showing that
his share of the profits as partner in
Morgan & Co. in the transactions with
the New York Life, of which he is vice
president. amounted to $10,412.57. Mr..
| Perkins had testified earlier in the ex-
animation that 1t had been his practice
| to turn over to the insurance company
all his share of the profits of Morgan
| & Co.'s transactions with the New
| York Life.
! Mr.. Hughes asked the witness wheth-
| er the report of the New York Life for
Dec 81, 1904 did not show that sf32,
149, 1886 were invested in securities
which were known as fotations of j..
p Morgan & Co. Mr.. Perkins would
not say, but asked permission to check
| up the list of securities and report on
the matter later. asu M
Before leaving the subject, Mr..
Hughes saiu: Nov, ! notice that in
! the statement which you have fur
nished OF the purchases of j. p. Nor
gan & Co. since you became mem
ber of that firm II appears that the ac-
tual cost of New York Life securities
that is, the amounts paid ]. p Nor
| gan G. Co.--aggregate $3S,S04, ,918.51.
Now, do / understand that your indi-
yidual share Of the profits of these
transactions only amounted to $10,-
l41257?" vt
THAT is it, sir, yes" \
Mr.. Hughes asked no further ques-
tions along this line
Mr.. Hughes devotaa part of the af-
I, ternoon to the subject Of the cost of
getting new insurance, going deeply
into the various items entering into the
cost of this business in the past two
\ years. ~.
Mr.. Perkins admitted that the New
York Life had paid J. r. Morgan e.