The daily morning journal and courier., 1905-10-13
NEW YORK MERCHANTS
 WANT INDICTMENTS
ACTION TAKEN REGARDING THE RECENT LIFE INSURANCE
 DISCLOSURES

Call Upon District Attorney to Ascer-
 tain Whether an Indictment Cannot
 be Found Against Officers Who Have
 Contributed Funds of Companies to
 Campaign Committees - Recommend
 Civil Action to Cause the Restitution
 of the Money.
 New York, Oct. 12.-The Merchants association of. New York, through it's board of directors, to-day adopted reso- lutions calling upon the district attor- ney of New York county to ascertain whether an indictment cannot be found against officers of life insurance com- panies who have contributed the funds of the companies to political campaign committees The association also asks that civil action be instituted by the state attorney general looking to the restitution of the money so contributed. In addition to the adoption of the reso- lutions, the Merchants association an- nounced that District Attorney Jerome would be reqested to reconsider his de- termination to ask for an extraordi- nary session of the grand jury for con sideration of the matter at this time. The resolutions adopted are:
 Whereas, In the testimony given be- fore the joint committee of the legisla- ture appointed to investigate life insur- arlce corporations it appears that offi- cers of life insurance companies paid large sums of money from the funds of the companies to the republican nation al committee; and that the entries made in the books of at least one of the said companies concealed the fact of such payments from notice and
 'aThat, Whereas officers of said com- panies in public statements have re- gently admitted that these payments were made by them or with their con- sent, and,
 trWhereas, in the judgment of this board, the excuse offered for these pay rnents violates every sound principle ot business morality, and would justify the illegal diversion of public and pri- yate trust funds of every description; and .t.: ...- ..
 "Whereas, the penal code provides, in substance, that any officer, director, trustee or manager of a corporation who Intentionally appropriates, or causes to be appropriated, any of it's funds to his own use or to that of any other person than the true owner or person entitled to the benefit thereof steals such property and lis guilty of larceny; and e@ N..
 whereas, this board believes that the interests of the community demand that this misappropriation, if a crime, should be visited with adequate pun ishment, that law should be enforced, irrespective of the station of the of fender, and that nothing should be more operative as a check upon corrupt use of the money of corporations than conviction of the offender as common thief;
 , Resolved, That in the opinion of this board, prompt and energetic steps should be taken by the district attorney of the county of New York to ascertain whether an indictment cannot be found against the presidents of such compa- 1lies and other officers concerned in said payments; and that it is the opin- ion of this board that the attorney general of the state should institute civil proceedings for the return of the said sums to the treasuries of the re- Spective companies"