The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-06-18
NOTED FINANCII
AND Roosevelt
POLITICIAN DIE'
George W. Perkins SuCCumbS
to Nervous Exhaustion and
Effects of Flu Following
OverWork in France.

/
NEW YORK, June fs.-Georae Per.
kins, finaneier, died this morning in the
Stamford Hall sanitsrium, Stamford.
| Conn.
| u became known June II that Mr.,
Perkins had suffered a nervous break.
down but members Of his family did
not intimate at the that time that hls
life was In danger.
MIR. Perkins was taken TO Stamford
about ten days ago when his son, Gee.
~. Perkins, Jr., announced the change
"ls;. s mage to afford his father . com
piete rest and seclusion from his friends
Wno sought hts counseis during the Chi.
eapo convention.
The affection to which Mr.. Perkins
ssuceomosd Is believed to have been
the result OF influenza and pneuuonia
contracted while serving with the Y, N.
q A. IN France durlnu the war,
"A statement by the dead financiers
physicians given out at Mr. PerkinS
price gave the time OF his death at
$40 this morning. Death resulted from
an attack OF acute inflammation OF
me brain the result OF complete ner-
vous exhaustion due to intense and
CONTINUOUS overwork." the announce
The death of MIR. Perkins was par-
tlcularly unexpected, Il was said at
MS offices, on account OF his having
recently survived "a very serious heart
attack, after which his family and
friends believed hts constitution suf-
flciently robust to throw off the mall
ady
While details of the funeral have not
been announced il was said ii would
take place Sunday afternoon at the
hlVerslde PRESBYTERIAN church in the
bronN, The services will be private, II
was said.
Distress over the loss OF an old
friend was expressed by j. Plerpoint
Morgan. when he was informed of Mr..
PERKINS death. He said
Il am deeply distressed at the news
Of Mr. Perkins death. He. was friaDa
Tor more than twenty years and a very
active partner for ten years"
with Mr., Perkins at the time Of his
death were his son, George W. Jr., his
daughter Mrs. Edward Freeman, and
his sister, Emily Perkins
George Walbridge Perkins. for ten
years member OF the firm of j. P.l
Morgan 4 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,
II was Perkins who was also said to
have inaugurated the plan which per-
mitted employees Of the United States
Steel corporation and the International
Harvester company, In both of which
he was at one time an executive. to
purchase stock on installmenls and at
less than market value on the assump-
| tion that Industrial justice Ia the most
profitable of Investments, that justice
promotes peace peace promotes PROS
perial. and that the yorlSmens prosner-
ity Is necessary 70 the prosperity OF
the business man.
Starts as Clerk.
Mr. Perkins Aas born Tin Chicago,
Jan. 81. 1862, a descendant of Jacob
Perkins, an English ancestor who set
tied In Boston In 1881. His father.
George w. Perkins. long engaged In
later a pioneer In the life insurance
field, The son entered the insurance
business In Chicago, when rs. rs a
clerk. became a bookkeeper, an agent
and subsequently manager of a Cieve-
land office. He went to Denver and In
1892 was made e-president OF the
New York Life Insurance company. HIS
achievements attracted the attention Of
the elder Morgan and in 1900 he was
invited TO become member of the Wall =
street firm. In this capacity he me-
gotiated a number OF big foreign loans.
He remained with j. +. Morgan e CO.,
until 1910, meanwhile becoming a d.
rector of numerous large corporations.
including the steel and harvester COM
panIes number of railroads and the
International Mercantile Marine COM
pany.
Retiring from business few days
later as he said, ''to devote myself to
other work OF a public and semipublic
nature MIR. Perkins wrote and spoke
frequently on the subject OF Industrial
justice and when Col Roosevelt b.
came Progressive candidate for the
presidency in 1912. he became chairman
Of the national executive committee OF
the party. Previously he had been a
Republican. The year before he had
urged a revision of the federal corpora
tion laws, and in testiBing before a
congressional committee 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 advocacy Of Progressive primer
pies
Critic of Wilson.
Mr.. Perkins early in the world war
interested himself in the matter of
American preparedness. He was a se-
we're critic Of President Wilson. In a