The sun., 1905-11-25

is9" inquired the witness, evidently an,
noyed at the tack which Mr.. Hughes had
taken.
Il would like you TO answer my question,
was Mr.. Hughes's repy.
| know OF but one case, said MattlSon'
| "A profit on a sort Of a loan that came TO
us and was paid to a third party.
The third party In this case, Mattison
said, was George W. Perkins The loan
was to Kidder, Peabody a Co. Of Boston.
being s9So,OOO. The profit on the transac-
tion to the New York Life was $40 900. This
amount came In at the New York Life II,
the shape of check, The check was cashed
by Mattison himself at the First National
Bank and sent to Mr. Perkins. That was
some time In the fall or winter Of 1904
What did Mr.. Perkins do with the
money! asked Mr. Hughes, .,
Il don't know, but | understand" said
the witness, that he put 1t into the trustee
fund. fund y "Ni0" "e 10 "u''e0-'"' wynn
The witness testified that the amount
OF the check does not appear on the New
York Life's books In any way.
EQUITABLE TRUSTS Low RENT.
Gerald h. Brown, head Of the Equitable
real estate department, testified that the
Equitable Trust Company was paying
$4,000 for its quarters in the Equitable
building. He expressed the opinion that
$4,000 would not be too much to charge
for the space occupied by that company.
MIR. Brown said that more than 20 per
cent OF the fire insurance written on prop
erty mortgaged by the Equitable is placed
with the Continental company. James II.
Hyde ordered that the society's business
should be given to that company. MIR.
Hyde was a director Of the Continental.
All the Equtabes fire insurance was placed
through Frank b. Jordan, a son Of the
society's former comptroller Young Jor-
dan made between $4,000 and $4,000 year
out Of it.
Francis W. jackson, the Equitables
auditor, admitted that his duties had been
concerned chiefly with the foreign business.
The Equitable's cash book was audited by
Thomas D. Jordan, or some person under
his direction. Jordan was the man who
handled the cash.
The Equitable, although it owned one
building in Paris valued at about $500 900,
built a new one in 1901 at cost of 81 100 900.
The society is still occupying the old build
ing, and the auditor testified that in his
opinion it was entirely adequate. The new
building nets the society little over per
cent. on its money. Vce-Presdent George
had been put up in anticipation of law
recently enacted by the French Chamber
of Deputies requiring American life insur-
ance companies to put up reserve in
France against the policies written in that
country. II was the intention of the officers
of the company to use this real estate as a
deposit with the Government instead of
investing in low interest bearing French
securities.
The committee held no afternoon session.
Instead. a Subcommittee went to the home
Of George II. Squire, the Equitable's for
mer financial manager to finish the taking
of Mr. Squire's deposition. Mr.. Squire is
i'll.
The hearing was adjourned until next
Monday.
George W, Perkins said yesterday after"
noon:
THE transactions referred to in the testi-
mony before the insurance investi eating
committee to-day were perfectly proper
ones. If the natural course of the inquiry
does not make this clear am sure the com
mittee will give me an opportunity to offer
further testimony in the matter"