Show morgan co and new york tik new york sept 12 A transaction of the new york syndicate was gono into by the insurance investigating committee today and it was disclosed that the new york life ingui ance corn pany ha d paid J P morgan and company on account of th navigation syndicate two items in this transaction took almost an hour of interrogation to get a clear answer these items showed that on december ast 1st 1903 ot the bonds were sold to J P morgan and company and were bought back on the next business day january and 2nd 1904 after considerable questioning edmund D randolph treasurer of the new york life insurance company said the bonds vre sold io that in the report ot the state superintendent ot insurance the new york life show that its holdings of labo ads vr were not over the examination of edmund D ran dolph treasurer of the new york lifa insurance company was resumed tha removal of the preferred stock ot alta chicago milwaukee st pan railroad from the assets of the company to satisfy the prussian government which was under consideration at tho last session of the committee was again taken up mr randolph testified friday that when the insurance company had to remove the stock from its assets it was turned over to the new york trust company as collateral for a loan tor which notes were given by georgo B marshall the colored messenger employed by the life insurance company at a year the trust company was owned by officials of the insurance company charles B hughes counsel for the investigating committee endeavored today to ascertain who authorized the transaction mr randolph was asked today to point out in the finance committee of the new york life insurance company the record ot the sal of iho stock the company had no record oc any dummy notes given by marshall or any other messenger employed by the company mr randolph declared it is a recognized custom in financial concerns to have dummy bonds I 1 am sorry the name ot george marshall has been brought into ridicule on this transaction we carried i along for the company and made an additional tor the policy holdena ho the transfer of the chicago northwestern preferred stock from ihn affo insurance company to aha trus company which was also forced the prussian government was ed mr randolph said there was no records on the hooks of tho finance corn cittee of the insurance company referring to the loans made to maishak and another employed named madison he stated also ana ho did not jaako any delivery of the certificates oe tho stock mr randolph said that the sala of the chicago northwestern stocks was recorded in of the company and that the new york life in aurance company received which was deposited with the new york security and trust company |