The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1906-12-29
PERKINS IS INDICTED
MOrgan'S Partner and Fair
child Accused of Forgery.
GRAND JURY SLOW TO ACT
Inserts i'm PrcsentmeEt That Iusur-
ance Men Received No Pecuniary
Benefit from Alleged Illegal Erans-
actIOns-JerOme Makes Speeches.
Durham Must Go Co Prison.

| New York. Dec. 2S-George w. Perkins.
| former vice president Of the New York
| Life Insurance Company. and partner In
| the firm OF j. Pierpont Morgan & Co. and
| {. S. Fairchild who was president Of the
| New York Securities and Trust Company,
a subsidiary Of the New York Life. and
| Secretary of the Treasury IN President
ClevelanGs Cabinet, were indicted for for
gerry in the third degree to-day by the
grand jury. which has been investigating
the management Of the New York ife
With the indictments the grand jury
filed a prescntment saying that neither
Perkins nor Fairchild got any pecuniary
benefit by the transactions on which they
We're indicted, but that they were inhu-
enced solely for the purpose Of beneftinS
the stockholders, who really prodted
1t is no eXaggerauou 90 say that Dis
trict Attorney Jerome practically forced
the indictments as the grand jury, after
a long investigation. had made up it's
mind not to indict. It was only when
jerome insisted that the law had been
violated and that fl was the duty OF the
grand jury to take law from him. that
the grand jury voted for indictment.
But as d compromise. the grand jury in
sisted on the prcsentment which really
was an explanation of why they accused
Perkins and FairchiId OF crime. The
grand lurys action was so unusual that
no one in jhe criminal courts buildings.
Judges or others, could recall an instance
of it ever having been done before.
Prepared with Bail.
Perkins had been appriscd OF the fact
that the grand jury had acted in his case
and he was in court when the grand jury
reported. He was released in $4,000 bail
which was furnished by j. Piarpont Nor
gan, jr.. and Cleveland II. Dodge, both Of
whom wanted 20 express their confidence
in Perkins. Fairchild is in Europe There
is nothing 10 show that be knew anything
Of what was going on ia the grand jury
room. He has been in Europe for some
time Il is expected that when he hears
Of the indictments against him he will re-
turn, and there IS no disposition in the
district attorneys Office 10 worry about
his return.
There are six indictments against Per
kIns and the same number against Fair
transaction, the s0-caIled dummy" sale
of stock Of the Chicago and Northwest
en Railway and the Chicago. Milwaukee
and ST. Paul Railroad 20 the New York
Security and Trust Company. Similar
transactions were brought out at the
Armstrong investigation. and Jerome may
present these 60 another grand jury
jerome Makes Three Speeches.
Not the least interesting part Of the
grand jury procedure was the friction be-
tween many of the jurors and Jerome.
The grand jury took up the investigation
December Is. and a number Of witnesses
were examined. Some Of the grsud- Jurors /
could not see how any official Of the New
York Life could be guilty Of a crime when
the money did not get into their own
pockets and the profits went 20 the stock /
holders. Jerome was soon apurised Of
this feeling by the pertinent questions of
some OF the jurors and their arguments. /
Finally he took three hours to sum I'D the
evidence, pointing out just where the law /
had been violated. and in how many in |
stances.
jerome made another speech after that. /
and the grand jury took what is under 1
stood 10 have been an informal ballot /
after which il was pretty plain that there /
were not twelve members Of the eighteen I
who had been hearing the evidence who 1
wanted 20 indict. Then Jerome made an |
other speech, and IL was pretty hot one. 4
He said the law had been violated and II I
was the duty Of the grand jury TO indict. I
Burnham Must GO to Prison.
The application OF George Bunham, jr..