| Show IT LIFE Lift A ASSURANCE UR r f ACCT Much About Given by II I Greaves Making Everything Clear as lS Mud UNION PACIFIC REORGANIZATION In One Sy Society To 10 Amount of Securing 1 li ol outs e of ot 1 New r York Sept opt len Cleo o V w Per Pr Perkins r kins vice Ice president of time the Now New 0 York Life Insurance company and amid a member of ot the of oC J I 1 Morgan or ln Co o 0 erected lulI a stir tr before lefore the legislative line today he hI objected to Lii tl a request that ho hi hI produce hooks books of J 1 I 1 Morgan no f 0 t to explain tome some of that hat hems don Hint 1 with the tho New I York Vork Life lo company flany In itt connect Ion inn with wih the s HII le of 0 navigation tt to the Ile Insurance p pIn In 1 I I He lie said he me would furnish copies of th Ih the entries referring to the Ihl t transactions rn n In question but bil preferred not to r the bOk books book Mr Ir luh Hughes counsel for Cor the legislative committee for fOI Ih the fIrst 1111 time during the t loudly lon mu showed signs of oC anger amter and nd 11 I shall ha hate hao to require th that t these hooks honks hokl he be produced All 1 right replied Mr Ir Perkins Te Testifying to the purchase of ot ff COO MOot of l antI and ant St Ix LouIs luls bonds from J T 1 P Morgan MorEan Co Ca CI hy hr the Ihl New I York Ile Insurance company Mr Perkins sold saId he lie obtained th the bonds at t 10 MO Ie less ieee than the time price stipulated I bv by the life insurance cost com compan pan finance p committee Qu Questioned h by Mr Mt 1 Hughes Mr Ir Perkin Perkins said aId that t tIn In iii this thin purchase and Ind sale oil he hI hll represented both hoth the New Iw York Life lAte A as SC purchaser and th the firm Irm of o 1 1 P Moi o 0 11 us s seller 1 r Testimony was WI given h by Henry Ho no nor hog ors ers r Winthrop financial r of nf th the tho Equitable Life to the effect that when the Ihl navigation syndi syndicate nl cate which turned out nut to 10 he be tile hIt made mAd cl calls c for tor money on nn tho thu H 11 Squire Trustee account for payment on oil of or the syndicate participation tion th the mone money for tor the tho payments payment wan obtained h by borrowing U OO from the hp hn Trust company Of OC this had been repaid Mr Ir Winthrop said eald that In lila hla hIl opinion the money advanced 1 to the hAting II hi I Squire t run In aunt en OS 01 this trani lattion was 11 really the tile money mony of o the I Equitable Assurance Iolet society New ew York Sept 21 Henry a clerk elu employed oed b by the l Lit A nr nw r t hI his testimony mon mony before the legislative In Insurance In ventilation committee today He lie gp further details of oC thuS the payment of ot check chek to time the H 11 Squire trustee account oncoming Concerning one II entry of ot depo l lod l od ed d to the lie Ihl Account on July U 12 1911 1901 an 1 the wIthdrawal of the sum aunt h by di Imn aft Mi Mr Greaves said lit knew nothing He 11 did riot not know knol where the tho money In from nor by hy whom It I was use Wil withdrawn He lie II could supply no tin 10 Information mation as an lil to th the profits of a I t In a n and litton Alton Alon rate created to the George II H Squire tr trustee account Oth other r syndicate profits profit In 1 1302 0 and deposited with the American Deposit lt Loan 1011 company to II limo tho tle credit of ot this account IHn witness u was IA unable to 10 explain On Mu May 1 3 loot a 1 now new nel hook book for these thew entries was 18 opened find and H It of ot Il crull credited tE The bank deposit hook book was Wf kept kelt b by 13 Thomas I U D Ionian nt it that thaI time Ime comptroller of ot the Equi Equitable table Checks for tor deposit to this ac uw account t count Mr Ir he ime u delivered to Mr Ir Jordan Another entry In th the II n Squire trustee account titular late date of ot ray May 2 1902 2903 wa UK the Ir t pa of ot 6 iO oma on om ona a 1 navigation syndicate call ni by order of JUla Janies H 11 I Hydo 1111 This one was use Wil bor borrowed rowed from rota the time l Equitable Truit com coin company Patty pany h by James Jmes H n Hyde on Miny 11 5 on ott the certificate knew of ot this mend the thi entries 1 nt sit t the tho of or Mr Ir Squire Another entry showed H ii loan bait fu from rota m time the Trust company of I OO time the Ihl second call Ial on omi the nay nav syndicate timid and this his 11 was waa II Pail pali on Ott 01 the tic older of Mr Hyde Ihle On Oct S 8 1901 another loan JORn of ot ifO was made front from the tite t to 10 rover enter another call lUI on ol the navigation 1 syndicate an and Jan 18 16 1903 a 10 per rr cent rail call Lal re required soother another r 1011 loan of at 1500 Jil July 20 0 1902 a I cull call cHI demanded 50 which was Will also alf by lii the Equitable Trust com coin company pony pany Those calls were paid held on ott the order of lt Jennies H If I Hyde Mi rr Squire drew rI a ii i check chek for ZOO and amid on ott April IS snottier another for to 10 r reduce l tho time loan from mimi time tho l company on nn account oC the fits nail nal but hut when the dIvI canine tamo In lii they were not lIot credited to the time dome H n Squire Trustee ac cc account 11 count Thu Ihl account IN is II stilt still Ul and IS 45 carried carrIe on the b books ok of oC the Lift lt A so ao society clety Barry Hogu of oC the Life As M 1 sureties society vo tia WW recalled to the hit stand He lie 10 hI the lie George Ceone H It Squire trustee account loan Is tarried unell an U a 1 loan lon for tor tit the I Trust company In Itt lie tw name hattie Ille of t f I L U M U Haler trustee Mr ir WInthrop IiI the tho Trust holds time the Equitable Life A As Assurance sumacs ne society responsible for tor th the loan loami and that Ih the hi account with will wi b bl be taken up UI 1 In the name nattie of or the time Equitable Life Ufa Ilo Assurance society The Time total sum Mum on ott nc ot of the navigation was waa anil all on this 27 2 KOO MO eo hUl IH ta l en paid Mr r Winthrop In answer to II a I question ton by hy Mr r nuil counsel to 10 thin Iho committee It tel said sakI all that list In hula his opinion all al Ih the mooney money Inner Involved In Inthe inthe the transaction tune money that hat really realy lne fUke belonged sOcietY oely to tl time the Euln Equitable bi bAte A 1 IE Utter tIer te to the president of ot tb lh lie 1 Trust company dated C V 1901 19 sIgned d 1 by 13 cOllan Ceo H 11 I stated that h ho was wai Wil acting In the above mat tent to time the alre H II I account for fo u the nule nUll 1 tat 1 ne lit w Vi III HIM ier ly Iy that all al checks hk tide P d to tn thus signatures nf ot 1111 II I re n I D n Jordan In rind H II I Squire aud alil that all al mOley moneys In itt II time the deposit and loan lon to tn time the Equitable society Mr Ir I p was timia WiH asked I about I a 1 check elra drawn wn to tn the this order artier of o th the 10 so i tiet dt If ly on Aug Ante IS 2 ISM 1 for n which wor the In Itt its In th the Ht St 11 Louis and anti San Francisco a syndicate He HI l Mid hI a 1 careful to disclose that It h has been heti ro to ii In hi an ny hok books of the lie I iP Iti J P pert rt i i are art at still sti ill set Tb Tills 1111 s i v 1 is nl aIo o true of H a 1 bet hec k Jiuu he bit le Mercantile Trust company for tor JL n 21 WS 1106 01 on April Apri I 40 0 1887 and another for j i un rn AUK Aug 6 0 iw Taking up tip tl the lie Un Union I Ii Mi Mn said uld e wet ii iii i a I i number of syndicates alt RI relating I Ithe to the Ihl reorganisation From the thu tint on one oat Mi Mt 11 th the HO so HOi MOI i let received U 2444 i In It Th The next Union netted tho ho I itO 8 on In it 1 1 r t I ton of In Itt II another Union syndicate tin limit hl parti participated PRU to o the lie amount of IC l flO 00 from which It II secured of t 26 a ii 1 Union on Ott 01 u a 1 participation of though the widely society put up no 10 money It derived it di I profit rott of lt HUTS pU of ot netted a profit ot of It 25 26 00 No to n was 11 put html up Uv In itt II this thU Mr I had hall not lot yet et eL fund found Il tony any 10 Ion fot the of ot the tho In n the Chicago flinching Lou tun tOi arid and Ind Quincey syndicate among ot eta eis of tho hi Wat ulde under Inquiry A transcript of oC time the of the o stock nf ot th the June 1 to LO HIJI 7 1105 was WU Introduced An Ann Al e ex u accompanied this ibis which detailed its thA transfers transfer at II Il the time of ot I hanged and nj Ih the he assumption of oC the by Grover Mot iron J 1 O 14 antl Out Wet it Previous to tn bits trani Im f Mi rr hI Win Winthro wan ties 11 holder balder nf nC tt V Ilal ef of C th he slot stock k nf sit the tins Life Mr Wil tt Stifled as I he lie hI did before III of St that It h he believed tine the actual 0 out owner npr net of th the stork uvas Wil James II I Hyde h ha hl turned oven the chelk cheeks checks for tor to toM toMi tl Mi M f Hyde Th rh The subject of lt salaries of ot tl time the officers its then taken 1 up tip In the thus minutes of the for fot F Feb Fb b 2 1 IA mention intention Is II tactic made of ot a special minute relating to ot of hut but It does not nt Ip appeal al on the book hooks nf ot tu tine the society Mr r hi lout hud seen en It when he inc ht was wan Wil given a I copy to show tn to President nl Morton Thin com coat committee th the h r salary lary n 11 Henry H 11 IL ILI I Hyde 1345 Ice leo hen eo W V I Perkins vice It president of o th the New IW York Life company omny was isa H then them thel called ailed He lie HI stated that thit the New York Life Insurance tol An had nn nIt 10 Interest In the he navigation ton syndicate In which the society wise was In Int Interested t crested hut the lie laUr haten was WA n a I different syndicate formed to take tako over oer of ot If the tho bonds of o n a subsidiary lom company ln The rite ril Equitable Life Lie e society paul paid 2 for their navigation bonds Mr Perkins was WI a ked to tn clear up imp SOI sonic some of ot the that thaI he be WI was unable to In when on the III Itan stand several lays day lY ago Hgo He lie said there Wi wan no act of If au authorization or nr approval h hy by the time finance committee of o hl his sale to tn J f r P fo us I and amid repurchase I two days HYI later of ot the n syndicate bondon bond on 01 re Dec DP Jl 21 II 1 1903 1902 OJ Th The Thie c ot of f these bonds which WI was surrendered to J S 1 P 1 Morgan itCo Co 0 In this transaction Ml MI kins said old he lie hI would la later tt Mr Perkins testified that hat t hy by the thus committee he lie hI agreed In to 10 take Crol joint J r P 1 Morgan Cn rn 0 t tOl Ol 00 of ot le Cincinnati I Chicago A At gt 1 Louis bonus bonds He its le secured th theta ni at lt less ieee than tit the price stipulated by bythe bythe the Ihl anti and AIr Ir out the fact that lust the agreement was made mad b by Mi Mr MI eing for fan th the policyholders nub wih Mr MI PerkIns for foi rol the Irm or of J P Morgan A t Co a 0 Mr r Perkins added that he ho hI had carried out a number of oC IU transaction |
