New-York tribune., 1905-11-29
YELLOW DOG TRAIL LONG.
NEW $4,000 PAYMENT.
Schedule on Pool Profits Contradicts
HIDES Testimony.

The trail OF the ubiquitous yellow dog and
.As. OF the inevitable Judge Andrew Ham
MON was shown yesterday by the insurance in
rss,igating committee to lead across the conti-
-snt as it has across the ocean. and 8 fresh pay
,snt OF $4,000 Of New-Yorlx Life money by
ssvtous and perplexing means was exposed.
r4e mystery of the removal of city stock from
.he vaults of the New-York Life was also
,robed but not explained Edmund D. Ran
ssolnh. treasurer Of the New-York Life, identi-
sss the transaction as one TO which he had
heen a party under orders but before, not
While he was treasurer. and showed that this
proceeding OF tax lodging had been abandoned
:, his direction when he became treasurer. The
xutual Reserve policies, with ''mult2les and
ratios" which looked innocent. but cost policy
balders endless assessments. were discussed
George W. Perlinss handiwork was again un-
covered in the accommodation OF several bond
deals of sleight-of-hand variety. Finally the
,stbetic deposition Of George H. Squire regard
Inc certain transactions in stocks that have
been questioned was read. Mr.. Squire appar-
sntly remembered little regarding these His
testimony was taken at his house. where he
has been confined for some months.
schedule submitted by Mr. Squires counsel.
showing the disposition of the profits Of the
LAWYERS Title Insurance and Trust Company
stock sale indicated a payment TO James Hazen
uvse Of S56SS ~ This adds another to the
Iong list Of direct contradictions before the
committee as Mr.. Hyde, when the witness
stand said that he had never SHARED in any Of
the profits of such a transaction.
Edmund D. Randolph the first witness. es-
saved to explain the remarkable Jugglery by
which, as Theodore NJ Banta testified Monday,
the New-York City stock had been removed
+nxy
collecting time in 1901 and a check of the Cen
trail National Bank for the amount of the stock,
100000, substituted Mr. Randolph placed the
cate as 1900 and explained that he had acted
under orders, whose he was not clear. Possibly,
he thought they were those Of his predecessor,
Mr. Gibbs, who is dead At this time. Mr.. Ran
delph explained. he was not treasurer. He did
not recall what disposition was made Of the
stock He knew the check was put into the en-
relope Of the stock in the vault and that
Substitution was made when the stock was re-
turned on January 9. four days later. Mr. Ran
dolph thought the dates significant and recalled
that he had been told the stock taken for
certain clients OF the Central National Bank
RANDOLPH STOPPED PRACTICE
"Didnt this proceeding enable some to
escape taxation by these securities belonging to
the New-York Life?" inquired Mr.. Hughes. Mr..
Randolph conceded this but explained that the
thing was ''repugnant'' to him, and that when
he became treasurer he stopped it. He thought
that before this there had been at least
similar substitution, well legitimate
withdrawal When asked about the George W.
Perkins-Nylic deal through Kidder, Peabody &
Co. Mr. Randolph said that he knew of it, but
understood that the New York Life had merely
loaned the money. taking the interest on Mexi-
eof for fIa
Somehow or other this loan managed to be
entered in the records of the New-York Life as
purchase, and Mr.. Hughes and the witness
debated this point at great length without any
apparent agreement. Mr.. Randolph knew Of no
entry in the books of the insurance company
showing the 100000 city stock substitution,
neither did he know whether the New-York Life
received anything for its loan of the stock.
W S. Fanshawe, the next witness, explained
the various bond deals in which. acting under
orders from George ". Perkins. he had handled
money OF securities OF the New-York Life. In
the case Of the New-Orleans Traction stocks. in
which the New-York Life made a handsome
less. has been testified to before Mr.. Fan
shave said he took these over at the end of
1904. This saved the New-York Life from show
ing them their report to the State Superin-
tendent Of Insurance The amount involved was
S250000, the S250000 representing Nylic
money Mr.. Fanshawe's description Of the steps
in the deal was as follows: At the end of last
year he bought the stock for $685., 800 from the
New-York Life. The bonds were delivered TO
the New-York Security and Trust Company to
his account this company carrying the bonds.
Mr. Fanshawe's dealings were with Perkins.
TIE trust company carried the bonds until jan
uary g. when Mr.. Fanshawe paid for them. To
pay for them he borrowed $685., 800 from the
New-York Life. Ultimately the bonds were sold.
In this transaction Mr.. Fanshawe had no knowl-
edge that NyIic's interest in the affair was one
fifth, Or that any one figured hut the New-York
Life and Perkins Mr.. Fanshawe explained
further that he had been an Independent bond
dealer for twenty years and not associated for
many years with j. P. Morgan & Co.
THE YELLOW DOG" AGAIN.
Then came new yelp from Andrew HamiI-
toms yellow dog" James c. Keeler, a clerk in
the Title Guarantee and Trust Company. for
nerly with the Security and Trust Company,
wes put or the stand, and under cross -examina-
ton recalled that in the settling up OF the affairs
ef the Union Savings Bank and Trust Company
Of Tacoma, Wash, company in the hands Of
receivers for which the trust company
trustee under mortgage held by the New
York Life, after ali the company's indebted
ness TO the New-York Life was subtracted.
balance of $4,000 remained. Instead of turn
Ing this over to the policyholders of the insur-
ance company through the surplus this sum was
Promptly paid to Judge" Hamilton The wit