The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1907-01-03
new YORK LIFE MEN
: INDICTED FOR FORGERY
Six Bills Found Against G w.
Perkins and c. S. FairchiId
BASED ON a DEAL IN BONDS
In Presentment Jury Say They Are
Led to Believe Accused Acted
5 n in the Interest of Policy
holders,

IA r.+H .r -ss-r-- a~
New York City.-The Grand Jury
handed down six indictments against
George Perkins, Of the firm of
J. oPierpont Morgan & Co.. formerly
Vice-President of the New York Life
Insurance Company, and six indict-
ments against Charles S. Fairchild,
formerly President of the New York
Security and Trust, Company and a
member of the Finance Committee
ofathe New York Life. The indict-
ments charge forgery in the third
degree. Mr.. Fairchild is in Europe
MT. PERKINS was in court with his
counsel and gave bond of $4,000
A presentment which the Grand
Jury handed in, following the indict-
ments. was virtually an apology for
the action taken by the body. The
trend Jurors-or some, of them
held that neither Perkins nor Fair
child profted ~pecuniarilv by the
transaction upon which the indict-
ments are based, but that it re-
donnded to the benefit of the policy-
holders as
Five years ago the Prussian Gov
eminent passed a law prohibiting
american, life insurance companies
doing business in that country from
holding as assets the stocks of rail-
road companies in the United States.
The New York Life Insurance Com
pary was doing business in Prussia
and held railroad stocks. Books
and records of the company show
that, In order to deceive the Prus-
sian Government, 10000 shares of
the stock OF the Chicago & North
western Railroad and $500 shares of
stock, of the Chicago, Milwaukee 6,
ST. Paul Railroad were transferred
tt" the New York Security & Trust
Co.,, a subsidiary corporation of the
New York Life. -Isgr. " n
81 On the books Of the the
transaction was so disguised as to
appear to be bona fde. AS a matter
Of fact, the stocks never changed
hands. A colored porter named
Marshall and a clerk named Matti-
son; gave notes for them. The deal
was engineered by Mr.. Perkins and
Mr.. Fairchild.
From testimony gathered by the
Armstrong Committee this and other
similar transactions were exposed.
The law is specific in stating that
any Justification of the books of a
corporation constitutes forgery in the
third degree.
When the Grand Jury made its
presentment, Recorder Goh told the
members they had done their work
faithfully and thanked them for their
efficiency. District-Attorney Jerome
followed the Recorder, calling the
attention of the court to the fact
that one OF the indicted men was
already in court, referring to Mr.
Perkins. He asked that the man be
brought forward and arraigned, and
this vas done.
Then MI, Jerome remarked that
six indictments had been brought
against Mr.. Perkins, each charging
forgery in the third degree, and he
suggested to the court that a reason
able bail would be $4,000 in each
case.
MI. Perkins was then lined up a
the bar. The clerk arose and II
formal told him that he
stood charged with forgery in the
third degree in six indictments, and
asked him if he had any plea tt
make. Mr. Delafield answered. say
ing that his client would plead no
guilty.
Recorder Golf then fixed the bal
at $4,000, which was Immediately
given. ...e.t .E-