The Birmingham age-herald., 1906-02-09


 tirely with him and your committee is advised that MT. Mccall be held legally liable for the whole account This sum he has recently paid in full, and the company is thereby saved from any loss on account thereof"
 A Legal Question.
 The committee holds that 1t is a matter for legal adjudication as to whether George W. Perkins of the firm of J. P. Morgan & Co. is not liable for the payment of Hamiltons notes for $59.310. MT. Perkins paid this account, the com mittee holds, as the New York Life In- surance company's share of profits of it's participation in a United States steel cor poration syndicate. The committee holds that these notes were not given on the companys business, and that the com- pany can only conclude that Hamilton discounted the notes for his own pur- poses The committee holds also that the payment of those notes by the com pany was unwarranted. The report then adds:
 Tt Is only just to MT. Perkins to say that he acted in the matter in entire good faith. That he knew nothing about the notes or their origin, that from what MT. Mccall told him he had reason to believe that they were in some way
  the company. that he derived no bene- fit from the transaction, and that his liabilities, if any, Is technical one. It was found by the committee that the books of the Paris office show pay ments in 1900 of s10,O0O to John A. Mccall in London and of $l3450O to Andrew Hamilton The purposes for which these payments were made to MT. Mccall ana MT. Hamilton, the committee has been 1t- taf Call and Hamilton are accountable to the company for these sums. and that nroceedings should be instituted against them to compel them to make repay ment or an accounting.
 The report states that Hamilton re- ceived on June 6, 1904 check Tor over s111. GOO. which was due to the state or New York as franchise tax or the Ne" York Life Insurance company Delayed Tax Payment. President Mccall delivered the check 10 Hamilton The latter, the report states did not then pay the tax, put oepos1.ou p tbis r,onev to his individual credit with a hank at Albany Later another check Tor s75 OoO was delivered by Mccall to Ham lton which with the sill 900 was said py Mccall to be for the purposes or septhhs the taxes due from the New fork Lhe Insurance company. It was not until sep tember 29, 1904 the report says, that MT Hamilton paid the S111000 tax The ex- nlanation for this delay given to the in vestieating committee was that Q case in- volying the validity of a portion or the tax was then pending. Hamilton with President McCalrs consent before the payment of the tax, used S7o,0o0 of this money for the purpose of the so-caneo bureau of taxation and Legislation. "If the tax was not to be paid when tha check was delivered" the report reads. because of the pendency of this case in the court of appeals, there was no occasion for it's delivery at that time 1 There was no reason for making tho check to Hamilton's own order. No other conclusion would seem to be permissible that Hamilton used for his own purpose $75, 600 of the money advanced him to pay the state tax and the committee Is advised that both MT. Mccall and Hamil- ton are liable for this sum- On October 1S 1904 the court of appeals handed down decision under which the New York Life Insurance company was allowed a tax credit of $2T2, 7o3. This could not be drawn in cash, but portions of 1t were assigned to nine other companies Tor s90,3S6.
 Hamilton's Fees.
 ..,rhat sum was collected by or for Ham, ilton." reports the committee. And has been retained by him without any entry A+hereof in the books of the company The committee sets foSth that this was explained by the fact that MT. Mccall had made an arrangement that Hamilton was to have one-third of the tax saw ings under the legal proceedings This the committee characterizes as tmprovident, and suggested that Hamilton should be called on to establish his legal right to retain the 800, 3S3. In his Paris statement Hamilton referred to his unsettled ac- count for retainers fee, commissions, per centages, etc. These unsettled accounts the committee declared would seem to be without any substantial foundation. The records of the company show that he has presented bills during the past ten years for his compensation for ev- cry kind of service that he rendered, and that they were paid.
 Your committee having been informed that Hamilton was physically able to travel has exerted every effort to induce him to return to make disclosure Of his payments of the disbursements, and transactions, but without success.
 Your committee recommends that the law department be instructed to institute the appropriate legal steps to carry into effect the findings and conclusions of this report
 The committees report contains the statement that it was informed that MT. Mccall was too i'll to be questioned con-