The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1905-09-22
AsTOITNDING REVELATIONS.

ASTOUNDING REVELATIONS.
Thomas w. Lawson, the author Of
''Frenzfed Finance" published in Ey-
eTybOdy's Magazine, declared that the
Wall street magnates contributed
$4,000, 900 to elect William Mckinley
in 1896.
The statement was not taken seri-
OusIy, and was considered by the ma
jority as buncOmbe. Lawson was
in position TO know many Of the sec
rets Of what he calls '.frenzied fin
ance'' on Wall street, for he had been,
was then and Is now an operator on
the street The general belief was
that he had a personal motive Of
either pecuniary advantage or re-
venge.
Recent developments have furnish
ed startling evidence that he told the
truth District Attorney Jerome is
prosecuting an investigation OF the
dOings of the Mutual Life and the
New York Life insurance companies.
The proceedings are in court under
Oaths, and under New York statutes
as to life insurance companies The
investigation is being carried on in
New York city; so that facts stated
and proven by the testimony Of the
officers Of these very companies can
not be thrust aside as campaign lies
The public should know what these
men swear TO, as il speaks volumes
to the American people, who are
really the parties at interest both fin
anciaIIy and politically
George W Perkins. vice president
OF the New York Life Insurance com
pany, testified that his company con-
tributed $50, 600 to the three repubIi-
can campaign funds OF 1896, 1900 and
T-T-- ~-nr1 -
Roosevelt campaigns, aggregating a
grand total OF $4,000. Under the
law this money was the policy hold
ers. and was held in trust This COM
pany has $500, 100000 of assets After
deducting expenses the earnings are a
credit to holders Of policies.
Mr. Perkins admitted that the sum
OF $113,5OO was sent to Albany to
their attorney. Andrew Hamilton,
while the New York legislature was in
session and was charged on the books
OF the company as either "sUndries"
or TO the real estate purchase account
He was not able TO state what sun
dries or real estate was purchased
with this large sum of money. Mr..
Perkins did not deny the statement
OF Treasurer Randolph Of the same
company that 100000 in navigation
syndicate bonds were sold to J. P
Morgan & Co December 81, 1903, and
bought back January ?, 1904, the
transaction simply being to conceal
the deal, in the annual statement to
the state superintendent Of insurance
Mr.. Randolph admitted that mil
lions OF dollars Of the company as
sets were not recorded on the books
OF the company at all. but were en-
tered on cards about the size Of a pos
lowed either to evade taxation or
conceal transactions from insurance
examiners A cOlOred messenger en-
plOyed in the Office at $500 a year was
Ostensibly loaned sums aggregating
$4,2SO, 600 This alsOr was a blind,
some favOrite getting the money to
use for his own advantage.
frederick Cromwell, treasurer Of the
Mutual Life Insurance company, ad-
mitted that the company kept on de-
post as high as SIS, 100000 in trust
companies in order to take advantage
Of large offers Of securities. The COM
pany received ? per cent on general
averages, but individuals secured the
use OF these funds at times to finance
big deals The securities purchased
were sold 10 the company, and the
broker reaped large profits
Treasurer Randolph OF the New
York Life Insurance company admit
ted that IN one deal the company was
''let into lost 100000. This certain
" Is 'frenzied finance"
As 70 the use OF money in political
campaigns aggregating millions OF
dollars. and hundreds OF thousands
OF dollars TO influence legislation,
there can be only one opinion And
thar must be that II is both bad poll
tics and q criminal use OF money.
Great corporations do not throw away
money for a mere idea They expect
and receive a return from the invest
msnt Indirectly. 1t viii be a sad day
for the American republic when such