Waterbury evening Democrat. [volume] (Waterbury [Connecticut]) 1903-1917, 1905-09-22
PERKINS UNDER FIRE
Insurance Investigation Went
Closely Into Finances.
JOINT ACCOUNT DEALS WERE PROBEE
Hughes Attempted to Get Light on
Andrew Hamilton Payments, but
Witness Mccullough Had
Bad Memory.

NEW YORK, Sept. 22.-George W.
Perkins, vice president Of the New
York Life Insurance company, was
the main witness before the Legislative
committee that is continuing Its in.
vestigations into the methods OF life
insurance companies doing business In
this state, and he had for an audience
the largest number Of persons who
have thus far tried to crowd into the
spacious aldermanic chambers.
Mr.. Perkins sprang a little joke al
the expense Of Inquis!tor Hughes. As
the committee was getting ready te
take a recess Mr.. Perkins said that
the New York Life had contract with
one other person besides those whose
names had appeared in the joint &C.
counts and that he thought 1t only
right that that name should appear on
the record. When permission was
granted to make the statement Mr..
Perkins said he referred to the con-
tract the company had with Mr..
Hughes himself, wherein Mr.. Hughes
was to share in all Of the profits OF
the company.
Mr.. Hughes looked surprised at this
announcement, not to say little en-
barrassed. until Mr.. Perkins explained
that Mr.. Hughes, being policy hold.
err in the New York Life. was entitled
to his share Of the profits and that his
policy was the contract mentioned.
Mr.. Hughes stood the laugh on him
good naturally and said. that he would
later have occasion to 90 into the ques-
ton Of Just how much profits the poll
cy holders actually got.
Before Mr.. Perkins was called to the
stand an attempt was made by Chief
Inquisitor Hughes TO get some light
from John r. Mccullough. typewriter
for Judge" Andrew Hamilton. on the
bank account Hamilton had with the
New York State bank at Albany, but
Mccullough had a very poor memory
as to Judge" Hamilton's financial af-
fairs. He remembered cashing checks
for his employer. but none for as much
as $4,000 or $4,000. He had made
deposits in the New York State Ma
tionai bank at Albany, but Chief Coun-
sci Hughes couldn't get him to recall
any specific transactions. Mccullough
simply couldn't s.recollect." He thought
Hamilton would probably return from
abroad about Oct. IL or 10.
Mr.. Perkins spent three hours ex-
planning to Nr. Hughes about twenty.
I've joint accounts that the New York
Life had had with various banking
firms In the last few years. Mr.. Per
kins reiterated in substance much Of
the testimony he gave previously. He
showed that It was the policy Of the
New York Life 70 get some banking
firm to buy securities direct from the
parties issuing them. the New YORK
Life putting Cd all the money and
dividing profits with the firms which
did all the work.
John r. Hegeman. president Of the
Metropolitan Life Insurance company.
Il was proved. Is a personal debtor for
10000 10 the New York Life Insur-
ance company.
Among ether personal bans vas one
Of $4,000 AZ 81 per cent 20 z H
Hartman This has been renewed
from tine to tine during the past
three years and falls due next year.
II = secured largely By Unio1 PaciHc
bonds.
Perkins, also testified that az q part
ner q J. P. Morz1n 4 CO. his shzrs q
profits from the sale a $3.50 ao415
bad be@n onfY s1oH2sT He Mh be
had covered bscx~ TITS uoaeT - ne
sunpuT- Ths ~ fgrttss az oGesr