The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-22
INSURANCE FORGERY HUNT.
GRAND JURY PROBES FALSE EN-
TRIES IN ". Y. LIFE BOOKS.

Understood Nothing Has Been Done TOw-
ard Charging Any Of1cer with Lar
~ceny-GeOrge ". Perkins Examined at
Length by documentary witnesses.
The Grand Jury spent another entire day
yesterday investigating the a cement OF
the New York Life Insurance Company.
Among the witnesses examined were George
W. Perkins, former vice-president OF the
company; Alexander Webb, Jr., who was
secretary OF the New York Security and
Trust Company, a subsidiary Of the New
York Life; j.. Carroll Root, who was secre-
tary OF the same company; Woodbury. c.
Iangdon n @. A. Morrison. both Of whom
were members OF the finance committee
Of the New York Life, and NJ. NJ. Msttison,
who was a ~bookkeeper in the Treasures
department of the company.
II was after 5 o'clock when the Grand
jury adjourned, and it was said that a lot
OF important evidence had been presented
by District Attorney Jerome. Mr.. Perkins
was questioned again for nearly an hour.
He came early in the morning, but he had
10 wait some time before Mr.. Jerome called
him. Both Mr.. Langdon and Mr.. Morrison
we're questioned at length. As members
Of the finance committee il was said that
they had peculiar knowledge of stock
transactions between the New York Life
and other companies.
The Grand Jury will not meet again
until next Wednesday. That entire day
will be taken up with a continuation OF the
investigation. IL is expected that by
next Thursday the Grand Jury will nave
finished hearing whatever evidence Mr..
Jerome has on the particular phase of the
New York Life management into which
the Grand Jury has been inquiring. Should
any action be taken by the Grand Jury it
will be reported to Recorder Goff in General
Sessions next Friday.
As THE Sun pointed out, the evidence
laid before the Grand Jury has had to
do with false entries ia the books of the
company, which would be forgery in the
third degree. The evidence bears on
transactions of the New York Life with
such companies az the New York Security
and Trust Company. In order to conceal
the stock holdings OF the insurance COM
pany IL is asserted that books were doctored
and entries a that were false. Evidence
along those lines was brought out in the
examination of witnesses before the Arm
strong committee. IL is said that in so
far as the present investigation is concerned
nothing has been done toward charaing
any officer of the company with larceny.
II is declared that members of the finance
committee and executive officers of the
company had knowledge Of these transact
tons and really directed that certain en-
tries be made in the books Of the mpan
OF course it will be necessary, as the in
vestigation before the Armstrong COM
mittee showed, to prove that officers OF
the company either directed or had knowl-
edge of how the entries in the books Of the
company were made. II IL said that in
certain stock transactions which were
recorded as sales there was never any
sale, but simply a transfer.
One thing Mr.. Perkins has been asked
about has been his knowledge of the New
York LIES participation in 81 1926 900 worth
Of the stock of the United States Steel
Corporation. This stock was bought by
the New York Security and Trust Com
pany and the New York Life did not want
to appear in the transaction. The New
York Life got rs per cent. of the profits,
however, although the New York Life
books never showed that it had anything
to do with the transaction. In the re-
port made by the security company to
the banking department in 1904 it was
set forth that the security oompany's share
in the transaction was 1871 ,s75.
When Mr.. Perkins was questioned by
Mr.. Hughes before the Armstrong COM
mittee he said that the New York Life
had nothing to do with the purchase of
the stock because the company did not
put up any of the money. As a matter
OF fact il has been brought out that the
New York Life always kept on deposit a
large sum with the security company.
Mr.. Perkins's examination by Mr.. Jerome
has been a long one. 1t is understood
that Mr.. Perkins has been questioned be-
fore the Grand Jury not only on most of
the things which we're brought ont be-
fore the Armstrong committee but in
regard TO certain transaction which were
discovered by Assistant District Attorney
Kresel in his examination of the books
OF the New York Life. Roth Mr.. Morrison
and Mr.. Langdon were also asked about
from the finance committee as To
I'D certain transactions,