The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-09-19

New York, Sept. 15.-Admitting that
In the last three elections the New
York Life Insurance Co. had contrib
uted to the Republican national cam
paign fund nearly s150,O00, George w.
Perkins, partner in the firm OF ]. p.
Morgan & Co., and vice president of the
New York Life Insurance Co.. told the
members of the legislative invesngat-
ing committee today in the same
breath that law preventing such con-
tributions should be enacted.
Mr.. Perkins admissions, followed up
by his important suggestion, impressed
the committee greatly. After the wit
ness had been excused and the session
adjourned until Wednesday, the COM
mittee went into executive session to
consider Mr.. Perkins remarks.
Today produced the most important
revelations concerning the methods Of
business conducted by insurance COM
panies in. this city, which have been
forthcoming since the committee began
its inquiry.
1t was Assemblyman Rogers who
caused Mr.. Perkins to give his opinion
regarding the curbing Of contributions
to campaign funds. His question was
as follows: els II your view, Mr.. Per-
kins, that contributions to political or
gAnizations should be prohibited?"
'Tt most certainly is my view," was
the answer, "and think 1t a perni-
cious practice that has grown up in
that regard. think you gentlemen
could do nothing better-among other
things which have occurred to me
than to enact law to meet that con-
dition.
81 belieye that any institution thus
paying out money should make out a
schedule to show what 1t pays that
money out for. l believe that in o
country like ours that situation will
erise such as arose in the Mckinley
Campaign, and II we are to contribute
10 cents, rs cents, so cents or one dollar
OF the money OF each policyholder to
protect his interests, think when it Is
dore that 1t should be generally known
that It is done. think there ought tc
be a law on that point. 1t is hobby
OF mine. think the best way to con-
troll these companies is by the greatest
publicity"
"That is what am trying to get at, ,
said Mr.. Hughes.
Nov, If We had law of that ma,
ture," Mr.. Perkins continued, 81 be
lieve that justified, and that every pol
+ ic, holder would indorse it,"
"You do not think 1t safe to leave
= that to the self restraint of the com
panies themselves7"
II would put 1t In different way
think 1t best to leave 1t to the 1udg
ment of the officers themselves. Now
k,ration. He Is q Demockat. In tL,
first campaign In which he was presi
dslt Of the New York Life he did no
contribute, because there was NOTHING
q. issue, but when 1t came to the Nc
Knley campaign he did contributs, a.
though Democrat, and he voted fo1
Mckinley. He contr ibuted h,s owl
u.ocey and the compauy's money, be
cause he believed there was great peri
= which threatened the assets Of the iol
icyholders."
Mr.. Perkins said positively that AZ
of the big Insurance companies in TIKI
city contributed to campaign funds a
every national election. lie said tha
contributions made by The company b
represented had been IL three lots o
about $60, 1000 each. rh, two campaigl
funds Of President Mckinley got tw'
Contributions Of 10000 each, anil tn
Roosevelt and Fairbanks campaigl
frua received similar sum from tn
ecp,pspy.
NJ. Perkins said thu. the contribu
ton ad been authorized Ivy John A