The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1907-01-30
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
in the Interest of Policy
holders.
New York -City.--The Grand Jury
handed down six Indictments against
George w. Perkins, of the firm of
]. Pierpont Morgan & Co., forme.
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
Of the New York Life. The indict-
ments charge forgery in. the third
degree. Mr.. Fairchild is in Eurol-
Mr.. 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
Grand Jurors-or some of them
held that neither Perkins nor Fair
child profted pecuniarily by the
transaction upon which the indict-
ments + based, but that it re-
bounded to the benefit of the policy
holders.
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
pany 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 &
st. Paul Railroad were transferred
to the New York Security G Trust
Co., a subsidiary corporation Of the
New York Life.
On the books Of the company 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 Golf 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 a%rraigned, and
this was done.
Then Mr.. 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.
Mr.. Perkins was then lined up at
the bar. The clerk arose and in
formal manner told him that he
stood charged with forgery in the
third degree in six indictments, and
asked him if he had any plea to
make. MI. Delafeld answered, say
ing that his client would plead not
guilty.
Recorder Golf then fixed the bail
at $4,000, which was Immediately
given.