Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-09-19

MORTON MAKES lr PUBLIC
Nearly Quarter of Million Dollars
Loaned Without Any Record or Au
thority-The New York Life DiscIos-
ures In Connection With the Hamil-
ton Loans Also Causes Sensation.

New York, Sept. 19.-'rhat the
Equitable Life Assurance Society paid
out $21S.264 to the Mercantile Trust
Company in connection with certain
and that these payments were without
authority, SO far as the records of the
society disclose became known today
when Paul Morton, president of the
society, made public a report on the
subject submitted by him to the soci-
etys directors.
New York, Sept 19.-The Armstrong
legislative committee in following the
two checks for 100000 which the New
York Life paid Andrew Hamilton, VIII
be on a sharp lookout for other trails
leading to this account
The committee has been informed
that such trails necessarily need not be
sought exclusively in the New York
Life's books. Reports have reached
the inquisitors that Hamilton has had
connections with other insurance COM
panies, and that not infrequently when
the New York Life made payments to
him they have put up like amounts.
Just at present, though, the commit
tees every effort is being directed to-
ward uncovering all the facts i'm re-
ovid 10 4
New York Life in March, 1904. SUBJ
poena servers are after officials of the
State bank at Albany, if they have not
landed them already. 1t is this bank
which cashed the checks paid to Ham
ilton which We're to be used ostensibly
to purchase real estate in this city
Counsel for the investigating com-
mittee also have asked the New York
Life to furnish at Wednesdays hearing
all the contracts or other matters of
record relating to the purchase Of
property in the building of the annex
to the home office. 1t was against this
home annex account that the 100000
was charged on the company's books
BY tracing the expenditures separately
counsel for the committee, 1t is believ-
ed, If necessary, will be able to locate
each payment definitely, thus uncover
ing the 100000 payment to Hamilton
if 1t really does not belong to the real
estate account. President Mccall how
ever, has said that he will explain ev-
erything fully to the committee when
he takes the stand.
Attorney Hughes yesterday refused
to discuss his plans for the hearing on
yol, 1>,,f ir-,
George w. Perkins, the New York
Lifes vice president, will testify again.
The committee regards Mr.. Perkins,
as a result of his frank avowal that
the New York Life contributed to the
campaign funds, as one of the best wit
nesses that have come before it. He is
likely to be questioned about most Of
the things that concern the New York
Life, whether he is concerned person.
ally in some of the transactions or
not.
Big Hartman Loan.
1t was said yesterday that one of the
things which Mr.. Hughes probably
would look into further in the New
York Life was the loan in 1903 by the
insurance company of s50O,O00 to Ed
ward Hartman. This loan was re-
newed several times and carried on the
books of the financial office at the
Hanover Bank building. AT the end of
the wear the New Yor1 Life reported
it's total outstanding collateral loans
at S55O.OOO Mr.. Hughes asked Mr.
Perkins if the Hartman loan was in
cluded i'm this amount, and Mr.. Per-
kins said he presumed it was. 1t is
~ HnoNaS will jnnllirp
further into this loan
Chairman Paul Morton of the Equit-
able Life Assurance Society. announced
in reply to questions yesterday alter
noon that no more money belonging to
the Equitable policy holders would be
tur1.eI over for campaign purposes
Mr.. Morton was asked:
"Has the Equitable been contribute
ing to the campaign funds like the
New York Life?'
81 do not care to talk about the
former regime of the company said
Mr.. Morton.
"Will the company contribute to po-
litical campaign funds in the future" ?"
at will not" said President Morton,
emphatically
These questions We're put to Mr..
Morton after the meeting of the Equit-
able's executive committee. Senator
Chauncey M. Depew attended the
meeting, and he was asked what he
thought of the practice of political or
eanizations accepting contributions
from life insurance companies.
Horrible Practice, Says Depew.
II heartily am opposed to it," said
he. soler,nly. 81 favor the English
law. which not only requires the cam
didate to tell what he expends for
electioneering purposes but also re-
ouires the campaign committees to
disclose the source of their contribu-
tons.
Senator Depew was asked how much
the Equitable contributed during the
last three national campaigns. if any.
Il don't know the figures" was his
reply.
"Did any of that mysterious s6S5,00O
hi 1a,c fe-