Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1905-09-20
The New York Life Insurance Com.
pany's Political Contributions
WAS AFRAID OF TIE DEMOCRATS
George W. Perkins, Insurance Com
pany's First Vice-President and
Member of the Firm Of j. P. Nor
gan & Co., Divulges the Meaning of
a Check Made to Morgan g. co. Last
Year.

New York, special.-George W Per-
kins, member Of the firm of J. P. Nor
gan & Co., and first vice president Of
the New York Life Insurance Compa-
ny, was the star witness at Fridays
session Of the special legislative COM
mittee probing life insurance company
methods, and his testimony was re-
plete with revelations in finance as ap-
piled by insurance companies.
Mr.. Perkins was first called just pre-
vious to the hour for luncheon. He
resumed Immediately after the recess
and was on the stand when adjourn
ment was taken for the day.
The climax of the day anne when
Mr.. Perkins was asked concerning an
entry Of $4S, 7O2 in a ledger, marked
"Ordered paid by the President" Mr..
Randolph, the treasurer, OF the New
York Life Company, who had been on
the stand earlier in the day, had been
sharply questioned as to the purport
of this entry, but he was unable to
explain it. He thought no one but the
president could. Mr.. Perkins had been
called to testify as to some other trans
actions and after a recess he was ask
ed to produce the check. It was made
out payable to J. P. Morgan & Co., and
Mr.. Perkins frankly stated it was a
contribution to the national Republi-
can campaign committee and had been
paid to Cornelius N. Bliss. Mr.. Per-
kins said.
"This payment was made after very
careful elaboration. It must not be
considered an ordinary contribution
to the campaign fund. 1t was paid
because we felt that the assets of the
New York Life Insurance Company
would be jeopardized by g Democratic
success"
Mr.. Perkins said contributions we're
also made in 1900 and 1896. AS an
illustration, witness said the first con-
tribution made was in 1896, by Presi-
dent Mccall, who is a Democrat.
HE contributed money to the Nc
Kinley campaign fund and voted for
Mckinley because he felt it was in
the best interests of the poiicy-holders
of his company" This bomb caused
a murmur of conversation about the
room, which had become packed with
spectators. Standing room was at a
premium, and everyone bent forward
to catch the testimony. This was
hardly necessary, for Mr.. Perkins
spoke distinctly, in a voice audible
throughout the school room. He paced
the small platform upon which the
WifnnCC chair ic n1oan1 iI1ct hnforn
the committees rostrum, and accom-
panied his explanations with earnest
gestures, often times suggesting ques-
lions to the counsel.
Pursuing the check inquiry further,
MI. Hughes brought out that this ex-
pendlture was never brought to the
attention of the finance committee, the
witness terming it a purely executive
action" 1t was charged against cash
on the books of the Hanover aBnk Of
flee or financial department. The
witness did not know on what ac-
kount the other contributions were
made, but he would furnish data.
Mr.. Perkins here ~interposed: 81
would like to make one statement.
The fact that the check is drawn to
J. P. Morgan & Co. has no significance.
I paid out the money and it was mere
ly because of a convenience of repay
ment that the check was made payable
to J. P. Morgan & Co."
what other contributions to politi-
cal campaign funds have been made
by the New York Life?"
"Is there no self-restraint allowed
the officers in these campaign contrl-
.butions?" x
None; to my knowledge"