Perth Amboy evening news., 1905-09-16
PERKINS ON
THE STAND.
MOrgan's Partner Tells Of Cam
paign Contributions New
York Life Gave $l5O,0O0.
GIVEN TO REPUBLICANS.

that in the last three elections the New
York Life Insurance company had con
tributed to the Republican national
campaign fund nearly $1J0,000, George
w. Perkins, partner in the firm Of j.
=. Morgan & Co. and vice president of
the New York Life Insurance company,
told the members of the legislative in
vestigating committee in the same
breath that a law preventing such con-
tributions should be enacted.
Mr.. Perkins admissions, followed up
by his important suggestion, impressed
the committee greatly. After the wit
ness had been excused and the session
adjourned until Wednesday the com
mittee went into executive session to
consider Mr.. Perkins remarks. The
most important revelations produced
concerning the methods of business
conducted by insurance companies in
this city have been forthcoming since
the committee began it's inquiry.
1t was Assemblyman Rogers who
caused Mr.. Perkins to give his opinion
regarding the curbing of contributions
to campaign funds. His question was
as follows:
us it your view, Mr.. Perkins, that
contributions TO political organizations
should be prohibitedY"
1T most certainly is my view was
the answer, land | think it aipcrnicious
practice that has grown up in that re-
gard. j think that you gentlemen could
do nothing better-among other things
which have occurred to me-than to en-
act a law to meet that condition.
II believe. that any institution thus
paying out money should make out a
schedule to show what it pays that
money out for. | believe that in a oun
try like ours that d situation will arise
such as arose in the Mckinley cam
paign, and if we are to contribute 10
cents, % cents, 80 cents or 81 of the
money of each policy holder to protect
his interests l think when it is done
that it should be generally known that
ii is done. l think there ought to be a
law on that point. 1t is a hobby of
mine. l think the best way to control
these companies is by the greatest pub
LEFTY"
''That is what l am trying to get at"
said Mr.. Hughes.
''Now, If we had a law of that ma
ture,'' Mr.. Perkins continued, e4"IH be-
lieve that it would be justified and that
every policy holder would indorse it."
you do not think it safe to leave
that to the self restraint Of the com
panies themselves"
Il would put it in a different way. |
think it best to leave it to the judg-
ment of the officers themselves. Now,
Mr.. John A. Mccall Is the best demon
stration. He is a Democrat. In the
first campaign in which he was presi-
dent of the New York Life he did not
contribute, because there was nothing
at issue, but when ii came to the Nc
KlRiey campaign he did contribute, al
though a Democrat, and he voted for
Mckinley. He contributed his own
money and the company's money, be-
cause he believed there was great peril
which threatened the assets of the pol
icy holders.'
Mr.. Perkins said positively tlat all
of the big insurance companies in this
city contributed to campaign funds at
every national election. He said that
contributions made by the company
he represents had been in three lots of
about $4,000 each. The two cam
paign funds of President Mckinley
got two contributions of $4,000 each,
and the Roosevelt and Fairbanks cam
paign fund received a similar sum
from the company.
Mr.. Perkins said that the contribu-
ton had been authorized by John A.
Mccall, president of the New York
Life Insurance company, and be had
personally paid the Roosevelt c0ntribu-
ton to Cornelius n. Bliss. The exact
sum paid last year was $4S, T02.JQ.
Mr.. Perkins citation on the witness
stand of the affairs of his company
was at all times interesting. He was
continually standing up and sitting
down, showing nervousness and at
other times eagerness to let himself be
heard all over the room.