The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-02-10
NEW YORK LIFE
MONEY SQuANDERED
Special Trustees Committee Sc
yerely Condemns Mccall
and Hamilton.

NEW YORK, Feb 9-The special COM
mittee appointed by the trustees OF the
New York Life Insurance company to In
vestigate the affairs OF the company to-
day made a partial report of its labors TO
the directors. This report deals only with
the relations of Andrew II. Hamilton
the legislative agent. with the company
and is a severe arragnment of his meth
DDS.
John A. Mccall. former president Of the
New York Life Insurance company, also
comes In for a share of the committees
criticism. He is blamed for his methods
in connection with the bureau OF taxa
ton and legislation" during the last ten
years and for allowing Hamilton TO pay
vast sums of money without a proper
accounting.
Make Them Pay Back.
Special attention is called to remit
tances OF $1,000 TO Mr. Mccall in London
and sl3i 600 to Hamilton In Paris, In 1900
The purposes OF these remittances. the
committee saws II has been unable 10
ascertain, and recommends that proceed
lngs be Instituted against Hamilton and
Mccall for an accounting or repayment
The committee adds on this point appu-
cation hae been made To Mr. Mccall for
Information regarding the transaction.
but that it is Informed by Mr.. McCalIs
family that his physical and nervous con
dition is such that the subject cannot be
taken up at present,
Hamilton Is Dodger.
AS to Mr. HamiIton's health, which
has been reported as bad, the committee
says II has been informed that he was
physically able TO travel and has cXerted
every effort TO induce him to return 10
make a full disclosure OF his payments,
disbursements and transactions, but
without success,
Responsible for S35,0oO
The committee also holds Mccall and
Hamilton responsible for $4,000 advanced
to Hamilton to pay the state tax ana ana
by Hamilton for his own purposes The
committee is advised that both are liable
for this sum. The committee maintains
also that II is a matter for legal ad1udl-
cation as 10 whether George w. Perkins
of the firm OF j, +. Morgan & Co is not
liable for the payment OF Hamilton
account the committee holds. out OF the
New York Life Insurance company
share OF profits In Its participation In
United States Steel corporation syndl-
cate The committee holds also that the
payment OF these notes by the company
was unwarrantcd.
Perkins in Good Faith.
It is only Just TO Mr. Perkins to say,
the report adds. that he acted in the mat
ter in entire good faith; that he derived
no benefit from the transaction, and that
his liability. If any, IS technical one.
The committee recommends that the
law department OF the company institute
appropriate legal proceedings TO carry In
TO effect the findings and conclusions OF
this report,
The report Is signed by T p. Fowler,
Norman Rcam. Hiram Steele Augustus
c. Payne and Clarence II. Mackay, and
was unanimously adopted.
Hamilton Gets 100000.
on October IS 1904. the Court OF Appeals
handed down a decision under which the
New York Life Insurance company was
allowed a tax credit of S212. 'O3. This could
rot be drawn In cash. but portions OF IT
were assigned TO nine other companies for
SS0. C3S That sum was collected by or
for Hamilton" reports the committee,
"and has been retained by him without
any entry In the books OF the company"
The committee sets forth that this was
explained by the fact that Mr.. Mccall
had made an arrangement that Hamilton
was to have one-third of the tax savings
under the legal proceeding. This arrange
ncnt the committee CharaCteri2cS as im-
DTONilGut and suggests that Hamilton