Virginia gazette. [volume] (Williamsburg, Va.) 1893-192?, 1905-09-23
The New York Life Inserance Com
pany's Political Contributions
WAS AFRAID OF THE DEMOCRATS
George w. Perkins. Insurance Com
pany's First vice-President and
Member of the Firm Of J. p. Nor
gan & Co.. Divulges the Meaning Of
Check Made TO Morgan B. Co. Last
Year.

New York. Special-Gcorge W Per
kins. member OF the firm OF J. p. Nor
gan & Co. and first vice president OF
the New York Life Insurance Compa-
ny. was the star witness at Fridays
session OF the special legislative COM
mittee probing life insurance company
methods. and his testimony was re-
plete with revelations in finance as ap-
piled 10y insurance companies.
Mr.. Perkins was first called just pre-
vious TO the hour for luncheon. lie
resumed Immediately after the recess
and was on the stand when adjourn
nent was taken for the day.
The climax OF the day came when
Mr. Perkins was asked concerning an
entry OF s4S.702 in a ledger. marked
Ordered paid by the President" Mr..
/ Randolph. the treasurer OF the New
/ York Life Company. who had been on
the stand earlier in the day. had been
sharply questioned as to the purport
OF this entry. but he was unable 20
explain IT, He thought no one but the
president could. MI Perkins had been
called 20 testify as to some other trans
actions and after recess he was ask
ed 20 produce the check. To was made
out payable 20 J. p. Morgan a. Co. and
Mr. Perkins frankly stated it was a
/ contribution 90 the national Repuhh-
/ can campaign committee and had been
paid 20 Cornelius y. Bliss. Mr.. Per
kins said.
This payment was made after very
/ careful elaboration. IL must not be
! considered an ordinary contribution
20 the campaign fund. II was paid
/ because we felt that the assets OF the
New York Life insurance Company
would be jeopardized by a Democratic
! success"
Mr Perkins said contributions wcr,
( also made I'm 1900 and 1896 AS IN
/ illustration. witness said the first con
B tribution made was in 1896. by Prcsi
b. / dent Mccall who is a Democrat
"He contributed money 90 the SIC
j Kinley campaign fund and voted 70
B Mckinley because he felt it was d
d the best interests OF the policy-holdcr
z OF bis Compan-." This bomb causcl
p a murmur OF conversation about tn
D. room. which had become packed wit
D. spectators. Standing room was ar
- premium. and everyone bent forwar
e 20 catch the testimony. This wa
y hardly necessary. for Mr.. Perkin
b. spoke distinctly. In a voice audibl
r. throughout the school room. lie pace
the small platform upon which Oh
b. witness chair is placed. just bcfor
10 the committees rostrum, and accom-
D panied his explanations with earnc'
D. gestures often times suggesting que
b. tions 90 the counsel
Pursuing the check inquiry furthc
o Mr.. Hughes brought out that this e.
n penditurc was never brought 90 Oh
'e attention OF the finance committee. Oh
l- witness tcrming 10 a purely execuu'
d action" IL was charged against cas-
rs on the books OF the Hanover aBnk q
DE- fee OF financial department tn
1f witness did not know on what a
D. count the other contributions WEI
p, made. but ne would furnish data
'e Mr. Perkins here interposed.
~ would like TO make one statemen
ye The fact that the check is drawn
ly J. p. Morgan & Co. has no significant
pr. paid out the money and it was mer
RS " because OF a convenience OF re-pa
IS ment that the check was made payab
In 10 J p Morgan * Co"
What other contributions 20 poll
% cal campaign funds have been ma
er by the New York I.ife2"
e.. lis there no self-restraint allow
Us the officers in these campaign cont
be buuons?"
None: 10 my knowledge"