The Barre daily times. (Barre, Vt.) 1897-1959, 1920-06-18
PROMINENT
AS FINANCIER
Geo. w. Perkins Died To-
day at Sanitarium in
Stamford, Conn.
WAS TEN YEARS
WITH MORGAN co.
Was One Of Leading Sup
porters of Roosevelt in
the 1912 Campaign

Stamford Hall sanitarium, Stamford
| Stamford Hall sanatorium, Stamford
| Conn.
1t became known June II that MI
Perkins had suffered nervous break
| down but members of his family dix
not intimate at the time that his lif,
was in danger.
| Mr., Perkins was taken to Stamfors
about 10 days ago and his son. Georg,
W. Perkins, jr., announced the chang'
| was made TO afford his father a com
| plete rest and seclusion from hi,
friends who sought his counsel during
the political campaign preceding the
| Chicago convention.
The ailment to which Mr.. Perkins
succumbed is believed to have been the
result OF influenza and pneumonia con
tracted while serving with the Y NJ. c.
A in France during the war.
George Walbridge Perkins, for ten
years member of the firm of J. P.
Morgan & Co., was reputed to have
first suggested to and persuaded big
business" to adopt profit sharing, in
surance service bonuses, sick benefits
and old-age pensions.
1t was Perkins who was also paid
to have inaugurated the plan which
permitted employees of the United
States Steel corporation and the In
tcrnational Harvester company, in
both of which he was at one time an
executive, to purchase stock on install.
ments and at less than market val;te
on the assumption that industrial
justice is the most profitable of in.
Sestments, that justice promotes peace,
peace promotes prosperity and that the
workmens prosperity is necessary to
the prosperity of the business man"
Mr.. Perkins was born in Chicago,
Jan. 81, 1862, n descendant of Jacob
Perkins, an English ancestor who set
tied in Boston In 1851. His father.
George W. Perkins, long engaged in the
shipping industry at Buffalo, was later
a pioneer in the life insurance field.
The son entered the insurance business
in Chicago when 10 as a clerk. be-
came bookkeeper, an agent and sub.
sequently manager of a Cleveland of
flee. He went TO Denver and in 1908
was made vice president of the New
York Life Insurance company. His
achievements attracted the attention
of the elder Morgan and in 1900 he
was invited 10 become member OF
the Wall street firm. In this capacity
he negotiated a number of big foreign
loans. He remained with j, P. Morgan
& Co. until 1910, meanwhile becom-
ing a director of numerous large cor
porations. including the steel and har-
yester companies. number of rail
roads and the international Mercantile
Marine company.
Retiring from business few years
later as he said, TO devote myself to
other work of public and mi-pub-
lie nature Mr.. Perkins wrote and
spoke frequently on the subject of in
dustrial Justice and when Colonel
Roosevelt became Progressive candi.
date for the presidency in 1912 he be
came chairman of the national eNecu-
tive committee of the party. Pre-
he had been a Republican. TEe
year before he had urged a revision of
the federal corporation laws and in
testifying before a congressional com
mittee investigating the United States
Steel corporation. he advocated the
fullest publicity for all corporations.
Despite the defeat of the colonel. Mr.. |
Perkins continued active in his adyo
cacy OF Progressive principles.
Mr. Perkins early in the World war
Interested himself in the matter of /
American preparedness He was a
severe critic Of President Wilson. In
, speech in indianapolis in 1918 he de-
Jared the United States was unpre
pared for war" and urged immediate |
iction. After the United States on
erred the struggle he cndeayored to
stimulate food production and by
arge purchases of provisions at dis
ant points sought 10 avert a war
ime shortage in New York City. He
sss also active in Red Cross. Liberty
oan and other patriotic drives. After
he war. Mr.. Perkins went to France
o investigate charges Of waste and in
Efficiency against the Young Mems
7hristian association workers abroad.
Te reported that while some mistakes
lau been fnAue tMtlt Wa. HtNaG
round for honest criticism
A close friend Of the late Mayor
Iohn Purroy Mitchell. Mr.. Perkins ut
me time was prominently mentioned
or the mayorsity Of New York. He
vas once quoted a. having said that
Few York City could have s25,0100al .
wear by "a proper cut in its budget.
Ie was q trustee Of Nassar college AID
Berry school. Rome. Ca, and member
f numerous civic, scientific, soSiologi-
al and philsnthropic organizations. ~
OF Mr.. Perkins received the honorary
egrce Of IL. d. from the University
( Wooster and the University Of Yer
mont
Mr.. Perkins married in 1852. Mis-
.yslina Rail-. a daughter Of flamcn
iaI of Cleveland. o.. 10 whom ~
hildren were horn Dorothy az
gorge W. Perkins. it, the latter -
HON vas lieutenant in the Amer
IN expeditiouary force.
A ST. JohnSbuTy Family.