Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-09-28
Vice President Of New
York Life Creates a
Stir at Hearing.
BUT LATER YIELDS
Peculiar Doings In
Big Companies Re-
vealed.

New York, Sept. 2S.-George W. Per
kins. vice president of the New York
Life Insurance company. and members
of the banking firm of J. p. Morgan &
Co. created a stir before the Legislative
investigating committee today when he
objected to the request that he pro-
duce certain books of Morgan & Co..
10 explain some of that firms dealings
with the New York Life in connection
with the sale of Navigation syndicate
bonds TO the insurance company. He
said he would furnish copies of the
entries referring TO the transactions in
question but preferred not TO bring the
books.
Mr. Hughes Angry.
Mr.. Hughes. counsel TO the legisla-
tive committee for the first time during
the investigation, showed signs OF an
ger and said loudly:
Il shall have TO require that those
books be produced"
AL right" was the reply
Perkins testified to the purchase OF
81 100000 of Big Four bonds from
Morgan & Co, by the New York Life.
Perkins said he obtained the bonds at
$4,000 less than the price stipulated
by the Life Insurance Company's fin
ance committee. That in this pur-
chase and sale. he. himself. represent
ed both the New York Life as pur-
chaser and Morgan & Co, as seller.
More Light on Equitable.
Testimony was given by Henry Rog-
ers Winthrop, financial manager of the
Equitable Life Assurance society. to
the effect that when the Navigation
syndicate which turned out to be un-
profitable, made calls for Morgan on
George II. Squire, trustee of the ac-
count for the payments on the account
of the syndicates participation money
for the payments was obtained by bor-
rowing $250,000 from the Equitable
Trust company. OF this amount $27
500 has been repaid. Winthrop sail
in his opinion the money advanced to
Squire's trust account on this transac
tion was really the money of the
Equitable society.
Greaves CoatInues Testimony.
New York, Sept. 2S.-Henry Greaves
clerk employed by the Equitable Life
Assurance society, continued his testi-
mony before the legislative insurance
investigation committee today. He
gave further details of the payment of
checks to- George II. Squire, trustee of
the accounts. Concerning one entry OF
$4,000 deposited TO the account of
July l2 1901. and the immediate with
drawal of the sum by draft, Greaves
knew nothing He did not know
where the money came from, nor by
whom it was withdrawn. He could
supply no information as to- profits of
the one-half interests in Chicago & Al
ton syndicate credited to Squre's trus-
tee account
Profits Disappeared.
New York, Sept. 2S.-At yester-
days session. Henry X. Winthrop as
sistant secretary and financial mana
ger of the Equitable society. said that
in the Philadelphia. Baltimore and
Washington and Long Island fours. the
syndicate. managed by Kuhn. Loeb &
Co, there were two participations, one
of $500. 900, and the other Of 100000.
The society derived profits of $2.3SG
on the 100000, while J. w. Alexander.
J. II. Hyde, q. II. Squire and w. II.
Mcintyre divided profits of the $500.
900. The Equitable put up s218,100. 1t
has received no interest. neither has
the money been returned. and when
asked If the matter had been called
10 the attention of these gentlemen.
Winthrop said: "It will be-"