The daily morning journal and courier., 1905-09-16
MORGAN SECRETS Let Loose, Under Fire, by MT. Perkins of the Firm and New York Life
 Insurance Co.
S4S,7O2 PAID TO NIR. BLISS
GIFTTO REPUBLICAN CAMPAIGN
 FUND.

e. ". Perkins a Vehement Witness,
 Nervous, Pacing Under Pressure, Ex-
 pIodes a BombsheII in the Investisa-
 ffOn at New YOrk-StartIing ReveIa-
 tion of the Management of Vast Sums
 of Money-High Finance Put to the
 BIush-DeniaI of Personal Gains from
 Campaign Investments-The Matter of "Joint Accounts" Aired--Mr. Per
 kins' Dual Personality.
 New York, Sept. 15.-George W. Per kins, member of the firm of J. P. Nor gan & Co.,, and first vice president of the New York Life Insurance company, was the star witness at the session of the special legislative committee which is probing the methods of the life com- panies in this state, and his testimony was replete with revelations in the de- velopment of finance as applied by in- Surance companies.
 The climax of the day came when MT. Perkins was asked concerning an entry of $4S,102 in a lodges marked ordered paid by the president,
 Mr. Randolph, the treasurer of the New York Life company, had been sharply questioned as to the purport of this entry but he was unable to explain it. He thought no one but the presi- dent could. MT. Perkins had been called to testi- fy as to some other transactions, and after the recess he was asked to pro- duee the check. It was made out pay able to :. P. Morgan & Co. and MT. Perkins frankly stated that it was a contribution to the national republican campaign committee and had been paid to Cornelius N. Bliss. @. v@s Mr. Perkins said:
 "This payment was made after very careful deliberation. It must mot be considered as an ordinary contribution to the campaign fund. It was paid be- cause we felt that the assets of the New York Life Insurance company would be jeopardized by democratic success" Mr. Perkins said contributions were also made in 1900 and in 1896. As an illustration, witness said the first con- tribution made was in 1896 by President Mccall, who is democrat. "He con- trfbuted to the Mckinley campaign fund" he said, and voted for Mo- Kinley, because he. felt it was in the best interests of the policyholders of his company"
 This bomb exploding created stir in the densely packed room, Throughout his testimony Mir, Perkins paced the small platform upon which the witness chair is placed, and accompanied his explanations with earnest gestures.
 He frequently suggested questions to the counsel,
 Pursuing the check inquiry further, MT. Hughes brought out that this ex- penditure was never brought to the at tention of the finance committee, the witness terming it a purely executive action.''
 It was charged against cash on the books of the Hanover bank office or financial department. Witness did not know against what account the other contributions were made, but he would furnish data.
 Witness here interposed: T would like to make one statement: The fact that the check is drawn to J. P. Nor gan & Go. had no significance. I paid out the money, and it was merely pay- able to J. P. Morgan & Co.,"
 oo1otYih1ItioIoc. fo T1nIitin1I I campaign funds have been paid by the New York Life?"
 ''None to my knowldge."
 Senator Armstrong queried further about the $48, ,00O check to the campaign fund. He asked:
 "How came the check to be such an odd amount"
 q don't know exactly, except that MT, Bliss had asked for $50, ,000."
 'Were you in position to know of other campaign contributions" asked Senator Armstrong.
 q don't know. That is a question that ought to be looked into. In all campaign contributions I believe the fullest publicity should be attached. They ought to be publically known, and there ought to be 8 law passed to that effect"
 ''Is there no self-restrain allowed the officers in these campaign contribu- tions?"
 'tNone that know of. think we have right to leave the matter to the judgment of the officers"
 If the president, out of his own ex- ecutive authority, without reference to the finance committee, pays out such large sums as these, how do they ever come before the officers of the com- pany?"
 q have said the finance committee has no authority over the agency ac- counts and general expenses. I think there should be a broadening of this authority"
 Assemblyman Rogers expressed his desire to ask a few questions about the sale of bonds on December 31 to J. P. TSrrl,4