The Cairo bulletin., 1905-12-27
HARD MONEY OF
. POLICY HOLDERS
Used TO Buy Private Furnish.
ings by Life Officials
PROSECUTIONS TO OCOME
IMME ECIATELY UPON ADJOURN
MENT OF THE lNVESTl-
eating COMMITTEE
JEROME ALL READY.

New York, Dec. 26-Testimon
aiken by the joint legislative invest
eating committee has furnished
basi: for the prosecution of certail
officers Of the large life insurance
companies of this state on the charg'
that they have been supplied witl
| thousands of dollars worth of hous,
furnishings rugs, bric.a-brac, bath
room supplies, and in some instance
homes, the bills being paid with policy
holders money.
| District Attorney Jerome's office Is
now in a poeition TO show that hun
dreds of dollars worth of these house
furnishings have been paid for by the
various insurance companies of this
city, although the articles and ma
terials were furnished the homes OF
certa n officers of the concerns.
1t is now known that for 10 years al
least it has been the practice of Ger
ain officers and directors of the big
insurance companies to order great
quantities of supplies from the leading
furniture and department stores, and
TO have the bills sent to the auditors
Of the companies. In many cases the
goods were delivered in the offices of
the companies and were then sent to
the private homes.
Specific cases in which fuch pur,
chases have been made are now being
investigated by detectives from the
district attorneys office. Investigation
of one important branch of this work
is being hampered by the fact hat a
rug house in this city which, several
years ago, furnished a number of Per
sian and 'Turkich rugs to men in con
troll of the big life insurance com.
panies, has since gone out of bust
ness but clerks fully cognizant OF the
transactions of those days have been
found, and it is hoped that eventually
The books Ct this firm can be uncov
cred
Known Case of Rug.
II is known that one rug sold for
$4,000, was sent to the office of the
president of one of the greatest of the
insurance companies in this city.
A rug of this sort is known as well
as painting by Millet or Velasqucz
is known 1t could not disappear with
out some trace of 1t being kept, and IL
is known positively that this rug was
never seen in the buciness office of the
president who purchased it,
1t has been seen in his home, how.
ever. and District Attorney Jerome is
now confronted with the task of learn.
ing how it got thcge. 1t was pur.
chased for the office of the president
of the insurance company and was
sent to the building and paid for
through the usual channels by check.
ing on the cashier of the company
This is but one inctance, but It is
one of the most striking. 1t is known
that an officer OF the Equitable car.
ried on the pay roll of the company
he names of men who planted and
cared for the gardens of his summer
home. A valet and a secretary were
paid by the Equitable
This diversion of the funds of the
policy holders is mere trine in com.
Iarison with other acts of the officers
'f this company.
1t is a fact lily certified to tina. /
wen such necessaries as small bath. |
com supplies, bought in huge quanti- |
les by the Equitable were distributor |
o the homes of the officers of the !
company. Soap. bath towels, sponges |
prays and many other articles re |
luired in the homes of the officers of |
he insurance companies of this city /
we're bought and paid for by those in
.harge cf the supply departments of
he various companies and were never |
ent to the buildings of these con
erns. but directly TO the homes of Of /
icers and directors.
Truth Difficult TO Reach.
II has proved a difficult task TO
race this petit graft. Andrew c.
fields. the head of the supply depart.
nent' of the Mutual Life Insurance
ompany. is absent" and is likely TO
emain absent for a long time to
ONE. Thomas d. Jordan. who had
harge Of these matters for the New
'Ork Life Insurance company. is also
Missing from New York. and is not
kelly to return.
In the New York Life the blotters
the records Cf these petty i
ccounts" are destroyed each year.
nd there is nothing to show for them
ave the ledger accounts. which con-
ain only figures in the aggregate.
It is known that District Attorney
erome viii probe deep into the Sloan
ccount." in which is contained the
ems cf furnishings for the Hanover
ank. one Of the subsidiary institu-
IONS Of the New York life.