The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-29
GEORGE ". PERKINS INDICTED
WITH CHARLES 8. FAIRCHILD FOR
THIRD DEGREE FORGERY.
Grand Jury. which Acted Only When Sc
rome Insisted. Filed a Presentment That
Neither Got Any BENEFIT Personally Out
OF Dummy N. Y. Life stock sales.

Neither Got Amy Benent Personally Out
OF Dummy N. Y. Life stock Sales.
George w. Perkins, former vioe-president
OF the New York Iife Insurance Company
and partner In the firm OF j.. Pierpont
Morgan a Co.. and Charles s. Fairohild,
who was president Of the New York Sc
curity and Trust Company. . subsidiary
concern ofthe New York Life, and Secretary
OF the Treasury in President Cleveland's
Cabinet. were indicted yesterday for forgery
in the third degree by the Grand Jury which
has been investigating the management
of the New York life.
With tho indictments the Grand Jury fled
q presentmens saying that neither Mr..
Perkins nor Mr.. Fairchild got any pecuniary
benefit by the transactions on which they
were indicted, but that they were influenced
solely by the purpose OF benefting the
stockholders, who really profited.
IL is no exaggeration TO say that District
Attorney Jerome practically forced the
indictments, as the Grand Jury after q long
investigation had made up its mind not to
indict. IL was only when Mr.. jerome in
sisted that the law had been violated and
that IL was the duty Of the Grand Jury to
take the law from him that the Grand
Jury voted for Indictments. As a COM
promise the Grand Jury insisted on the
presentment, which really was an explana-
ton OF why il accused Mr.. Perkins and
Mr.. Fairohild Of a crime. The Grand Jury's
action was 50 unusual that no one in the
Criminal Courts Building, Judges or others,
could recall an instance Of it having been
lone before.
Mr.. Perkins had been apprised Of the fact
that the Grand Jury had acted in his case
and he was in court when the Grand jury
reported. He was Immediately released in
SO, 900 bail, which was furnished by j. Pier
pont Morgan, Jr., and Cleveland II. Dodge,
both of whom wanted to express their con-
fdence in Mr.. Perkins. Mr.. Fairchild has
been in Europe for some time. There is
nothing TO show that he knew anything
Of what was going on in the Grand jury room.
1t is expected that when he hears Of the in
dictments against him he will return There
10 no disposition in the District Attorneys
Office to worry about his return.
There are six indictments aga inst Mr..
Perkins and six against Mr.. Fairchild. They
all grew out Of the same transaction, the
so-called dummy sale Of stock of the Chicago
and Northwestern and Of the Chicago. Mil
wsukee and st. Paul to the New York Sc
curity and Trust Company. Similar trans
actions were brought out at the Armstrong
investigation and Mr.. jerome may present
these TO another Grand Jury.
Not the least interesting part OF the
Grand Jury procedure was the friction
between many OF the jurors and Mr.. Jerome.
The Grand Jury took up the investigation
on December IS and a number of witnesses
were examined. Some OF the Grand Jurors
couldn't see how any official of the New
York Life could be guilty OF a crime when
the money didn't get into his own pockets
and the profits went TO the stockholders.
Mr.. Jerome was soon ~apprised Of his
feeling by the pertinent questions Of some
Of theNjurors and their arguments. Finally
Mr.. Jerome took three hours to sum up the
evidence, pointing out just how the law had
been violated and in what instances. Mr..
Jerome made another speech after that. and
the Grand Jury took what is understood to
nave been an informal ballot, after which
it was pretty plain that there were not
twelve members Of the eighteen who had
been hearing the evidence who wanted to
indict.
Then Mr.. Jerome made another speech
and it was a pretty hot one. He said the
law had been violated and it was the duty
Of the Grand Jury to indict. Furthermore,
it was the duty OF the Grand jury, which
was the sole Judge Of the facts in the case,
to take the law from him. He called for
indictments and he said that IL there weren't
indictments he would take the Grand Jury
before Recorder Gof; then something
might happen.
IL Mr.. Jerome had been compelled to do
that he would have asked Recorder Gof to
resubmit the case to the Grand Jury, and
then he would ave had to explain his rea-
sons for resubmitting the evidence. In
that event Recorder Gof would probably
have instructed the Grand Jury that il was
their duty to take Mr.. Jerome's advice on
the law.
But it didn't get to that point. Many Of the
Grand Jurors had been in favor Of handing
in a p~resentment without indictments. and
they insisted that il there were to be
Indictments something should 20 with
them. Mr.. Jerome had no objection TO
that. and the jurors passed a resolution.
which was later (at the suggestion OF Mr..
Jerome) embodied in a -presentment.
1t was nearly ko'clock when the Grand
Jury marched into Recorder COTS court,
where the trial OF Col. William d.. Mann OF
Tom Topics was going on, i~nterrupting a
burning speech from Martin W. Littleton
on the innocence Of the bewhiskered Colonel.
Lewis L. Delafeld, counse for Mr.. Per-
kins, had entered the court room a few
minutes before with Mr.. Perkins, who
didn't seem much disturbed. They were
accompanied by Mr.. Morgan and Mr..
Dodge. It too a little time to get them
seats, as the court room was crowded. Dis
trict Attorney Jerome, who had been in and
out of the cour several times, sat inside
the clerks rail. Assistant District Attorney
KreseI, who was Mr.. Jerome's right bower
in the investigation. and Assistant District
Attorney Perkins, who had charge Of draw
ing the indictments, were near Mr.. Jerome.
The Grand Jury got right down TO bust
ness. Russell ID. Hyde, the foreman,
handed up the twelve Indictments. Then
Mr.. Hyde said he had a presentment. and the
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