The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-09-16
.OffiCer@0f New York Life
Admits Contribution.of&
Odd Amount
.STATEME lent CAUSED
GREAT SENSATION
Perkins Tells More About Bond
Shuttle, and Explains Why
It Was Done Says Cam 4 ", VI
paign Money Was Paid 's a
to Cornelius N. # si
Bliss.
BytAssoclated Press, |,

(Byt Associated Press.) 85 35$ "
NEW YORK, September IT, George 1,
w. Perkins, memb Der Of the firm 81 #
j. P. Morgan and Company, Ind first vice. II
president Of tile New York Life Insurance
Company, was the star wltnoss at to- III
days session OF tho special Legislative Nj
committee probing life insurance condl-.
tions In the State, and his testimony was s
replete with revelations In nnnnce as ar S
piled by insurance companies. 3s3
Mr.. Perkins was frs called Just pre-
5vious to- the hour for luncheon. Here s3
sumed Immediately after the recess, and VI
was on the stand when adjournment fwas5S
taken for to-day. # n VI
The climax OF the day came when NJ +. sS5
! Perkins was asked concerning an entry 8a
.& Of SAB, 702 In a ledger marked order paid ~
l5by tho PRESIDENT Mr.. Randolph, the
treasurer OF the New X ork Life Com -SsR
spany, who had been on tho stand earlier VI
In the day, had been SHARPLY questioned
as to the purport Of this entry, but Sllo
was unable to explain It.. He thought mo
one butstho president could. .E sS 95 a
35 Mr.. Perkins had been called to testify; 4;
as TO some other tranhnc ctlons, and after
a&rec ess he was ask ed n to produce the
Ischeck. It was made out payable to 1. rs E. VA
Morgan and Company, and Mr.. Perkins IA
frankly stoted 1t was a contributions to #
the National Republican Campaign Com
lGmittee, and had been paid to Cornelius
"a Bliss Mr.. Perkins satd . s9 s48
34'rhls paynlen t X was d mad q Il a ter very
careful dclberntioh III 1t must not he con-
5sidered an ordinary contribution to- the II
campaign fund. 1t was paid because we &
lSfelt the asse tsbs of the New York ~ ifess
4 Insurance Company would abe ] jeopardlzed
|tby3a Democratic sude ess. =
PerkIn d sai c1ntItbutio ions ere nlsos
made y III 800 and ~ 1896. AS nns ilusti'a-
4 ton witness said the first &coMtrib button
mnde3 was III 1896 BY President MCCALL
| who Is q Democrat. $g3s 533S I4f S3
Tile contributed to the Nc X nleyJ mr.
pagn fund and voted for Mckinley be-
cause he felt 1t was ! m the hest interests
| of the polcyhodcrs of his company s.$, sS
said Mr.. Perkins. .,;5. g$ s$s s55
| This bomb caused II n1urmur Of conHer-s s NJ
| sation about the room. which had Fterf
come packed with spectators Stlndln7ss;
| room was at n premiuli3and eperygon2aa
bent forward & I'd cAtch the testimony.
| This was rdly6neccssary8fo for Mr.. Per- 5
akins spoke distinctly In n volc audible d
Throughout the room He paced the SMELL
atformsEunon which the Witness chAsrEs
Ia placed lust before \ tho committee 81
rostrum aud accompanied h.s: on nansr N
Suggesting questions to- tho counsel. 5.i4
Purely Executive. is5 &
Pursuing the check Ina ,iiry4furtherS M r l
Hughes brought out that this expendituna
was never brOught3to tlieH tent;ongofSiff
tho finance committee tl,e witness / el!nl. s.
ling lts@a spurely executive nction.,'SIt
| was charged against cash OH the books @
5of4the Hanover Bank Office or financial q
department. The witness did not kno " 8
against whntsaccount the other cont rIbu.33y
l&tlons wero made, but he would furn'sh3S
data Mr.. Perkins here nterposod !: II ".
3. would like to make one statement. ri:
Tho fact the check Is drawn to r p.2
Morgan and Company l1a IS no gnlncance. s8
| i paid the money and II was merely be-
cause of q convenience of repayment thai Il
tho check was made payable 10 J.$ +. .ffs5
Aorgnnsand Company 3S z "a u
As9NVhat other contributions q political B
campaign funds have been made blythe
New York I>lfe?' he was asked. a HI.
None to my knowledge SyysssiiSSS ~ siiSSS
Mr.. Hughes asked Mr. Perkins to OK B33l
plain how on the books In the syndicate
action by which $4,000 In bonds was III
SOLD on December 81 1901, and bought Ssl
back j Jnnunry 2, 1902 there was shown, SSs
)on tho debit side of3the account sl6O. 900 S5
and on the credit side $500 900. ana Mr.. "a
| Perkins replied: bf n q III,
y am glad that you brought that
matter up. In that transaction wo s
| W.
got $i.ooO,ooO. We made up, our minds s
to sell 100000 OF this sum- and our g3g
books, therefore. tnlys show $3.20O OOO,i y
When 1t came to the end OF the year
we sold sS0o.ooO and Instead OF taking ,
q loss OF $l60 900, we only took loss OF VI
$4,000 ! arranged with j., p. Morgan #
& Company to sell It at price. and Il.
then ] bought It bnck at the samclpr!cc,s q
After rebuyipg held on to It and flnall, s
sold 1t at 90 Ours first ideas was to ST
sell nt so, but we finally got 90, Ths
money was paid by check to j z, Nor
gan s. Company 3
Were not the sale and purchase for
the purpose Of deceving the commls-
sioner OF insurance." 3ts,
mo; 1t was not, Securities welS dc;5
pressed at the time. and It was cons Nj
sdered q good DEAL 8
5"But tho real purpose was to have a
your books read sa2oo.ooo instead OF
$4,000, 900 ~ q, 5a
Eyes" 5B 5, $3
Man About Campaign Funds,
Senator Armstrong here querried about $s
the $4,000 check to the campaign fund, t8{
He asked,
"How came the check to be such an
odd amount?" sge
II do not know exactly except that d
Mr.. Bliss had asked for s50000. lsfs 5
slt'Were you in a position TO know of Il
other campaign contributions?'' asked NJ
Senator Armstrong ~
~ don't know that IS a question that
ought TO sbe looked into. In all camnaig Ism Il
contributions. believe that the fullest
3publieity should be attached, They ought r
TO be publicly known, and tnere ougtlt
10 te n Law passed 10 that effect. u NJ
rs thore no self-rest traint allowed the F III
officers In these campaign ntrthpttons ,a s
.,Sone that know OF. hlnk NC.
have n right to leave the matte to tha 5ss
Judgment Of the officers. 3s
..If ti,s President. OUT Of his own o. e