The weekly true Democrat. (Tallahassee, Fla.) 1905-1912, 1905-09-22
NEW YORK LIFE
GAVE UP $4,000
To Rid IN Defeat of Democrats In
National Election.
FEARED FOR ITS ASSETS
Check Was Gwen Treasurer Of Repub-
Lc1n Campaign Fund. Sam, Was
Done IN Bryan Campaigns.

George W. Perkins, member OF tho
firm Of J. p. Morgan & CO., ana
first vice president OF the New York
Life Insurance company, was the star
witness at Fridays session in New
York OF he special legislative com.
mittce probing life insurance COM.
panies' methods and his testimony
was replete with revelations IN the
development OF finance as applied by
insurance companies.
The climax came when Mr.. Per.
kins was asked concerning an entry
Of $4s,702 in a ledger marked "Or.
Gered paid by the president" Mr..
Randolph, treasurer OF the New York
Life, who had been on the stand ear
lier in the day, had been sharply
questioned as TO the purport OF this
entry, but he was unable to explain
II. He thought no one except the
president could. Mr.. Perkins had been
called to testify as to some other
transactions and, after a recess, he
was asked TO produce the check. IL
was made out payable to J. p. Nor
can & CO. and Mr.. Perkins frankly
stated 1t was a contribution to the
national republican campaign conven.
ton and had been paid TO Cornelius
Bliss. Mr. Perkins said:
This payment was made after
very careful elaboration. 1t must
not be considered an ordinary con.
tributlon to the campaign fund. It
was paid because we felt that the
assets OF the New York Life Insur
ance company would be jeopardized
by a democrat"
Mr.. Perkins said contributions were
also made in 1900 and in 1896. AS
an illustration, witness said the first
contribution was made In 1896 by
President Mccall, who Is a demo
crat. He contributed to the McKin-
ley campaign fund ana voted for Nc
Kinlcy because he felt IL was in the
interests Of the policy holders"
This bomb caused murmur Of
conversation about the room which
had become packed with spectators
Standing room was az premium, and
every one bent forward to catch the
Testimony. This was hardly necessary
because MIR. Perkins spoke distinctly
I'm a very audible voice. He paced
the small platform upon which the
witness chair is placed, Just before
the committees rostrum, ana accom-.
panied his explanations with earnest
gestures, Oiteatimes suggesting duCs,
tons to the counsel.
Pursuing the check inquiry fur
Their, Mr.. Hughes brought out that
this expenditure was never brought
TO the attention OF the finance com.
mittee, terming it purely executive
action" II was charged against cash
on the books OF the Hanover bank
Office or financial department. The
witness did not know against what
account the other contributions were
made, but he would furnish data.
What other contributions to po-
lItcN campaign funds have been
made by the New York Life?"
None, 10 my knowledge"
Mr.. Hughes asked Mr.. Perkins TO
explain how on the books In the
syndicate action by which 100000
IN bonds was sold on December 81,
1901. and bought back January ..
1902, there was shown on the debit
side Of the account 100000 and on
the credit side $500. 300, and Mr.. Per.
kus replied
Il am glad that you brought that
mater up. In that transaction we
asked for 100000 OF bonds and
only got $I,o0OOO We made up our
minds to sell the 100000 Of this sum
and our books, therefore. only showed
33,20OO00