Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1905-09-20
MADE LARGE GIFTS
The New York Life Insurance Conf
pany's Political Contributions
WAS AFRAID OF Tue DEMOCRATS
George W. Perkins, Insurance Com
pany's First Vice-President and
Member of the Firm of j. P. Nor
gan & Co., Divulges the Meaning Of
Check Made to Morgan & Co. Last
Year.

New York, Special.-George w Per-
klns member of the firm of ]. P. Nor
gan & Co., and first vice president Of
the New York Life Insurance Compa-
ny, was the star witness at Friday S
session of the special legislative COM
mittee probing life insurance company
methods and his testimony was re-
plete with revelations in finance as ap-
piled by insurance companies.
Mr.. Perkins was first called just pre-
vious to the hour for luncheon. He
resumed Immediately after the recess
and was on the stand when adjourn.
ment was taken for the day.
The climax of the day came when
Mr.. Perkins was asked concerning an
entry of s4S,702 in a ledger, marked
"Ordered paid by the President" Mr..
Randolph, the treasurer of the New
York Life Company, who had been on
the stand earlier in the day, had been
sharply questioned as to the purport
Of this entry, but he was unable to
explain it. He thought no one but the
president could. Mr.. Perkins had been
called to testify as to some other trans
actions and after recess he was ask
ed to produce the check. 1t was made
out payable to ]. P. Morgan G Co., and
Mr.. Perkins frankly stated it was a
contribution to tile national Republic
can campaign committee and had been
paid to Cornelius N. Bliss. Mr.. Per-
kins said.
This payment was made after very
careful deliberation. 1t must not be
considered an ordinary contribution
to the campaign fund. 1t was paid
because we felt that the assets OF Tue
New York Life Insurance Company
would be jeopardized by a Democratic
success"
Mr.. Perkins said contributions were
also made in 1900 and 1896. AS an
illustration, witness said the first con-
tribution made was in 1896, by Presi-
dent Mccall who is Democrat.
"He eentributed money to the Nc
Kinley campaig paigIs.tad gIss.t and voted for
Mckinley because he feiT it-was In
the best interests Of the policy.hUf5eers
Of his company" This bomb caused
murmur Of conversation about the
room, which had become packed with
spectators. Standing room was at a
premium, and everyone bent forward
to catch the testimony. This was
hardly necessary, for Mr.. Perkins
spoke distinctly, i'll voice audible
throughout the school room. He paced
the small platform upon which the
witness chair is placed, just before
the committees rostrum, and accom-
panied his explanations with earnest
gestures, often times suggesting ques-
tions to the counsel.
Pursuing the check inquiry further,
Mr.. Hughes brought out that this ex-
penditure was never brought to the
attention Of the finance committee, the
witness terming it purely executive
action" 1t was charged against casn
on the books of the Hanover aBnk Of
fee or financial department. Inc
witness did not know on what ac-
count the other contributions were
made, but he would furnish data.
Mr.. Perkins here interpose1; Il
would like TO make one statement.
The fact that the check is drawn TO
J. P. Morgan 6 Co. has no significance.
I paid out the money and it was mere
ly because Of convenience Of repay
ment that the check was made payable
to ]. P. Morgan & Co.
"What other contributions to polltl-
cal campaign funds have been made
by the New York Life?"
as there no self-restraint allowed
the officers in these campaign cohtrl'
butions?"
"None; to my knowledge"