The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-11-28
MORE FRENz|ED
LIFE EVIDENCE.
NiIlh lAIIf - Il D. ,ssi
Some Unknown Person Borrow
ed Big Block OF Stock
WAS LATER RETURNED
PERKINS OF NEW YORK LIFE DE.
TAILS or FRENzIED FINANCE
WHERE he RECEIVED
ILLEGAL BENEFITS

New York. Nov. 27.-One Of the
most interesting features of the life
insurance investigation developed to-
day when Theodore F. Banta, cashier
of the New York Life Insurance Co,
testified that about the beginning of
1901, Edmond ID. Randolph, treasurer
of the company, opened the company's
vaults and removed New York City
stock va. led at 100000 and put a
check on the Central National bank for
$700 900 in its place Banta said he
helped open the vaults at the order of
Randolph and that he supposed Ran
dolph acted for the finance committee.
The stock was kept cut for few
days and was then returned and the
check withdrawn. The transaction was
NOT recorded on the books of the com
pany so far as Banta knew. The effect
Of the eopration would be that any one
having that stock would have 100000
worth of taxable property at the end
Of the year.
Banta did not know who received
the stock
George w. Perkins, vice president of
the New York Life Insurance Co.. and
member of the firm of j. l.. Morgan G
Co, bankers. tcday described TO the
committee the transaction which re
suited in his receipt of $40193 from
kidder- Peabody & Co., Of Boston, as
half the profits of sale OF $4,000, 600
worth Of bonds Of the Mexican Central
Railroad Company Milton Nj. Mat.
tison, bookkeeper for the New York
Life had previously testified that $780,.
600 of the insurance company's money
was used IN the transaction and that
Perkins got the profits.
Perkins said today he went into the
transaction for the Nylic fund which
is owned by agents of the New York
Life and that he invested the profits
for that fund. The insurance company.
he said, profitod to the extent of five
per cent intesest on the loan of $3.50,
600. He stated the company had no
right to the S40,193 profits
Perkins said also J. p. Morgan &
Co, had taken up the notes of Andrew
Hamilton and f. Il. Mccall formerly
justice of the New York state supreme
court, amounting to $56,310 at the re-
quest of President John A. Mccall, of
the New York Life and that the
amount with interest was paid to An
drew Hamilton by the New York Life
Insurance Co.. for the proceeds of a
syndicate in United States Steel cor
poration stock.
President Mccall told the committee
today he had told the Central National
Bank and f. e. Mccall that Hamilton
was good for $4,000 and they had
then taken Hamilton's notes. Presi- |
dent Mccall said the New York Life
owed Hamilton $56,3l0 and took the |
syndicate profits TO pay him. 4
The result was that the payment did |
not appear on the books Of the com
pany The reason was that ne want |
ed to keep Hamilton's expenses down |
Much evidence was given both by |
Perkins and Mccall about the New |
York Security and Trust Co.'S partici-
patton in the United States Steel cor.
poration stock.
Much evidence was given both by |
Perkins and Mccall about the New
York Security and Trust Co.'S partici-
patton in the United States Steel cor
porat'on syndicate TO the extent of
sS.25O.O0O having deposits of New York
Life for about that amount. The New
Life got rs per cent of the profits and
Mr. Perkins contended that it was a
safe and profitable venture.
Mccall said the Life insurance com
pany should have participated directly
instead OF Indirectly.