Waterbury evening Democrat., 1905-11-28
NO RECORD TAKEN
Cashier of New York Life
 Tells of Big Check Deal.
PERKINS ON BYLIC OPERATIONS.
Ex-Justice E. Ir. Mccall Brought In When His Note and Andy HamiI- toms Were Paid at Presi-
 dent McCaII's Request.

I 0GAt AACNAAA' sE4uEnts | NEW YORK, Nov. 2S.-One of the
 most interesting features of the life
 insurance investigation developed al the session of the Arms.xSng commit.
 tee when Theodore F. Banta, cashier l of the New York Life Insurance com
 pany, testified that about the begin ming of 1901 Edmund D. Randolph, treasurer of the company, opened the vaults of the company, removed New
 York city stock valued at $T00,000 and put check of the Central National
 bank for $700,000 in its place. MT.
 Banta said he helped to open the vaults
 at the order of Mir. Randolph and that
 he supposed MT. Randolph acted for the finance committed The stock was
 kept out for few days and was then returned and the check withdrawn.
 The transaction was not recorded on the books of the company so far as MT. Banta knew. The effect of the operation would be that any one hay ing that stock would have $700,000 worth of untaxable property at the end of the year. MT. Banta did not know who received the stock Mir. Randolph is expected to be called to the stand shortly.
 George ". Perkins. vice president of the New York Life Insurance company and member of the firm of J. P. Morgan & Co.,, bankers, described to the com mittee the transaction which resulted in bis receipt of $40, 193 from Kidder, Peabody & Go. of Boston as half the profits of the sale of S2,000000 worth of bonds of the Mexican Central Rail- road company. Milton NJ. Mattison, a bookkeeper of the New York Life Insurance company, had previously testified that $930,OOO of the life insur- ance company's money was used in the transaction and that Mir Perkins got the profit. Mir. Perkins said that he went into the transaction for the Nylic fund, which Is owned by the agents of the New York Life Insurance con- pany, and that he invested the profits for that fund. The life insurance con- pany, he said, profited to the extent of 5per cent interest on the loan of S930,- 900. He stated that the company had no right to the $40, ,193 profits.
 MT. Perkins said also that J. P. Nor gan & Co had taken up notes of An drew Hamilton and E. E. Mccall, for merly justice of the New York state supreme court, amounting to $56, ,310 at the request of President John A. Mccall of the New York Life Insur- ance company, and that the amount with interest was paid to Andrew Hamilton by the New York Life In- surance company from the proceeds of a syndicate in United States Steel cor poration stock.
 ! President John A. Mccall told the committee that he had told the Central National bank and E. E. Mccall that Hamilton was good for S50000 and that they had then taken Hamilton's notes. President Mccall said the New York Life Insurance company owed Hamilton the 8,310 and took the syn dicate profits to pay him. The result was that the payment did not appear on the books of the company. The req son was that he wanted to keep Ham, ilton's expenses down.
 Roth Mccall and Perkins made such astounding confessions in relation to the juggling of the funds of the policy 1 holders of the New York Life and di- version of thousands of dollars for po- litical and legislative purposes that aft CT the session ended the opinion was expressed freely that nothing remained ] now for them to do except to retire from the company.