New-York tribune., 1907-10-17
INSURANCE CASES UP,
4RGTE FOR PERKINS.
Er-Jadge Cohen Says There's No
Ewdence to Support Indictment.

Justice Dowlins in the Supreme Court yes
ter6ay heard arguments the motion 70 dis
miss the indictments for forgery IN the third
degree against George ". Perkins formerly
chairman OF the finance committee of the New
York Life Insurance Company, and ex-Secretary
Charles s. FairchiId. There are six indictments
against each of the defendants. They based
upon the transaction in December. 1901. known
70 the Armstrong investigating committee as
the "Prussian bond sale
The case against Mr.. Perkins was the first
one called. and he was represented by Lewis
L. DelafeId. ex-Judge William n. Cohen and
John C. Milburn. while Robert Cirier Monroe
appeared for Mr.. Fairchild. District Attorney
Jerome and Assistant District Attorney Kresel
appeared for the people
Before the arguments began Mr.. Jerome sug-
gested that nasmuCh the facts were
involved in both cases the against Mr..
Fairchld be passed to avoid a duplication of
argument. In case the decision was in favor
OF the people it was agreed that counsel for
Mr. Fairchild should have an opportunity to
present any additional argument not offered in
the argument TO dismiss the Perkins indictment
Mr.. Delafeld said the evidence which the
indictments based die not show that
crime had been committed, that there was no
evidence before the grand jury that the defend
ant committed the crime charged, that incom-
petent and inadmssibe evidence was received.
that the indictments found contrary to
law and that later indictments were found for
the same offence He outlined to the court the
evidence as presented to the grand jury and
argued that there was not Bit of evidence
to show that his client committed the acts
charged with fraudulent intent. During his ar
gumenr Mr.. Delafeld frequently referred to ths
records OF the grand jury which he had before
him. 1t considered unusual by lawyers in
the Criminal Courts Building that Mr.. Delaheld
should have possession OF these records. Mr..
Delaheld cited the allegations of Of the in
dictments which was representative of all This
charged that Mr. Perkins did not intend to
defraud make fraudulent entry of the sale
of 5000 shares Of Chicago & Northwestern stock |
valued at S1,SsO.oO0 and 5000 shares OF Chi
cago. Milwaukee e. ST. Paul. at 100000 to the
New York Security and Trust Company when |
as a fact no sale was actually made and no |
money received by the insurance company for |
the stock. There is no evidence whatever that |
Mr. Perkins made the entry" said Mr.. Della |
field
I'VE will admit that" said Assistant District |
Attorney Kresel
Mr.. DelafeId then went to say that the en- |
tries had been made by clerks and that Mr.. |
Perkins had nothing whatever TO do with tho |
books Of the company. Il have read the test-
mony before the grand jury" said Mr.. Delefeld |
"and have read it many times. I aston |
ished and amazed. That there was any evil |
dence TO defraud Is preposterous
You would contend that It was an attempt |
TO deceive and not 10 de:raud." put in Justice |
Bowling
THAT is It and x-Judge Cohen will argue on
that point" replied EIr Delaneld. Il ask for no
favors for the defendsnt He faithful 10 |
his trust and the grand jury led by defec-
tive and faulty advice to find these indictments"
Mr. Cohen said the charge of forgery In the |
third degree was without foundation and pre-
posterous. Instead he declared. the entire trans
action showed a careful guardianship OF the |
finances Of the New York Life Insurance Com
pany in the interests OF the poliCyholders lie
said that the Prussian government informed the
company in 1899 that II the company desired to
do business in that country it must longer
reckon stocks as ledger assets. The company
had until December 81. 1901. to get rid OF its
stock holdings. At the expiration OF this time
the insurance company still held 10000 shares Of
Chicago & Northwestern Railroad stock and |
600 shares Of Chicago. Milwaukee & St Paul.
The sale Of this. according 10 Mr.. Cohen.
intrusted to Mr.. Perkins chairman of the
finance committee. The finance committee. at
meeting on December 81. 1901. at which Mr..
Perkins was not present sold this stock to the
New York Security and Trust Company at the
market value, stipuating that II the trust com
pany derived a profit from the subsequent sale |
of the stock the profit should go To the insur-
ance company. As n result ex-Judge Cohen |
said, the trust company paid $4,000 to the in
surance company a the profits Of the transac-
ton Mr. Fairchil6 was present at the meeting |
on December 81 when this sale effected. In |
accordance with the terms Of the sale. Mr Ran
dolph treasurer OF the insurance company aid |
ed by the head bookkeeper. caused the entry TO |
be made on tho books on December 81 1901, |
showing that the sale had been made, Mt Cohen |
said. It was on this entry that Mr.. Perkins was !
indicted, but Mr.. Cohen maintained that TO sus- |
tain the criminal charge II necessary 70 |
show intent TO defraud. and In this case no one !
was defrauded.
"Have any indictments been found for periurS |
for verifying the annual statement" asked Jus |
tice Bowling.
mo. there have not" volunteered Mr.. Della
field ut verified by President Mccall"
Ex-Judge Cohen asked that the grave injus- |
tice' to Mr.. Perkins be wiped out. There was |
lust for Il victim somewhere. and a victim was |
granted when the stigma OF Indictment was |
found against this defendant No matter how in |
famed the public mind may be. 1t cannot bring
an innocent victim before your honor" said
counsel
Justice Bowling allowed counsel for Mr.. Per-
kins until October 2S TO file briefs and the Dis
trict Attorney will have until October 80 10 file
answering briefs.