Show george i W PerE kias objected to the books of J P morgan company before t the legislative 1 new york sept 28 george W per 1 ns itce of the new york itier insurance company and a member of the banking firm of J P morgan company created a abir before tile legislative investigation committee loday when be objected to a raqueal that he produce certain books of J I 1 morgan company to explain some of the firms dealings with the new york life company in connection with he sale of navigation syndicate bonds to the life insurance company he said he would furnish copies of the entries referring to the transactions in question but preferred not to bring alie books mr hughes counsel for the legislative committee tor aime during the investigation showed biens of anger and said loudly 1 I shair haveko require that these books be produced all right replied mr perkins testifying to the purchase of of cleveland cincinnati chicago st louis bonds from J P morgan company by the new york life insurance company mr perkins said be obtained the bonds at less than the price stipulated by tho life insurance companas comp anys finance committee questioned by mr hughes mr per ivans said that in this purchase and sale he himself represented both the new york lite insurance company as purchaser and the firm of J P morgan company as seller was given by henry aln financial manager of the equitable ute assurance society to the effect that when the navigation syndicate which turned out to be rable made calls for money on the george H saulae trustee account for payments on account of the syndicate participation the money tor the payments was obtained by borrowing from the equitable trust company of this amount had mr winthrop paid that ln th money advanced to the georgea H count on this transaction was really the money of the equitable assurance society new york sept 28 henry greaves a clerk employed by th life assurance society continued his testimony before the legislative insurance investigation committee today he gave details of the payment of checks to the george H squire trustee account concerning one entry of deposited to the account on july 12 and ane immediate withdrawal of the sum by draft mr greaves said he knew noting he did not know where the money came from nor by whom it was withdrawn ho could supply no information as to the profits of a one half interest in a chicago alton syndicate created to the george H squire trustee account other syndicate in 1902 and 1903 with the american deposit and loan company to the credit of this account witness was unable to esplan on may ast 1st 1901 a new book for chese entries was opened and a balance of was created the bank deposit book was kept hv T D jordani Jord aji at that time comptroller of the equitable checks for deposit to this account mr gleavea aid said s he delivered to mr jordan another entry in the georgo H squire trustee account under date of may and 2nd 1902 was the first payment 0 on the navigation syndicate call by order of james H hyde this anoney was borrowed from the eaul able fable f trust company by james H hyde on may ath on the certificate witness knew nothing of this the entries at the direction of mr squire another entry a loan from the equitable trust company of being the second call on the navigation syndicate and this was paid on the order of mr hyde on oct ath 1902 another loan of was made from he equitable trust to cover another call on the navigation syndicate and jan nary 1903 a ten per cent call required another loan of july oth 1903 a fifth call demanded which was also loaned by the equitable trust company these were paid on the order ot jamea H me squire drew a check for ind on april lath 1904 another for 1500 to reduce the loan from the equitable trust company on account of the navigation syndicate but when came in they were not credited to the george H squire trus account this syndicate account Is still running and Is carried on the books of the equitable life assurance society i harry rogers winthrop financial m magar of the equitable life assurance society was recalled to the stand he said the george H squire trustee account loan is carried as a loan for the equitable trust company in the name of L M bailey trustee mr winthrop said the equitable trust company holds the equitable lite As burance society responsible tor the loan and that uie account will be taken up in the name of the equitable life assurance society the total sum borrowed on account of the navigation syndicate was and on this has been paid mr winthrop Wih in answer to a question by mr hughes counsel to the committee raid that in his opinion all the money involved in the transaction wag money thai really belonged to the equitable life assurance society A letter to the president of the equitable trust company dated march ath 1903 signed by george H squire stated that he was acting in the above matters relating to the george H squire trustee account tor the equitable society that he was not personally responsible that all checks were subject to the signatures of william H thomas D jordan and george H squire and that all moneys in both tho deposit and loan accounts belonged to he biety mr winthrop was asked about a check drawn to the order of the society on august 1896 for 23 which were the profits in the participation in the st louis and san francisco syndicate he said a careful failed to disclose thai it had been in any of the books of the society expert accountants are still searching this was also true of a check from jahe trust company for 1897 and another for on august grUpe union pacific beor mr winthrop said there were a number of syndicates all relating to the reorganization from the first one mr winthrop said the equitable society received in profits the next union pacific syndicate netted the society on a participation of in another union pacific syndicate the equitable participated to the amount of from which it secured profits of from a fourth union pacific syndicate on a participation of though the society put up no money it derived a profit of another participation of netted a profit of no money was put up in this transaction mr winthrop had not yet found any authorization for the division of the participation in the chicago burling ton and quincy syndicate among officers of the equitable society which was under inquiry yesterday A transcript of the transfers of the of the equitable from june 1 to september ath 1905 was introduced an explanatory statement accompanied this transcript which detailed the transfers at the time of changed directorate and the assumption of the trusteeship by grover cleveland morgan J 0 brien and george westinghouse previous to this transfer mr win was holder of twenty five shares of the stock of tha equitable lite mr winthrop testified as he did before the state superintendent of insurance that be believed the actual owner of this stock was james H hyde the subject of salaries of the of fibers wa a then taken up in the minutes of the finance committee for february and 2nd 1888 mention is made of n minute relating to compensation pensa tion of officers but it does not appear on the books of the society mr winthrop had seen it when he was given a copy to show to president morton this finance committee fixed the salary of henry B hyde george W ns vice president of the new york lite insurance company flaa thea called he stated that the now york life insurance company had no interest in the navigation syndicate the equitable lite assurance society paid 2 tor their navigation bonds mr was asked to clear up some of the questions that he was unable to answer when on the stand several days ago ho said there was no act of author or appeal by the finance committee of his sale to J P morgan and company and ic purchase two days later of the SOO navigation syndicate bond on december Ds cember 1902 the of these bonds which was surrendered to J P morgan and company in this transaction mr per kalns said he would produce later mr perk ins testified that authorized by the finance committee he agreed to take from J P morgan and company of cleveland cincinnati chicago st louis bonds he secured tham at less than the price stipulated by the finance committee and mr hushes brought out the tact that the agreement was made by acting tor he policy holders ath mr for the firm of and company mr per J P morgan edns added hat he had carried yit a number of such transactions RIA WILL BE represented petersburg sept 28 the inn of siberia in tho first national Is assured the corn mission having determined on the allotment of fifteen siberian members of which one will represent tho alty G tha member all not be elected on class baals the is bestowed on owners of to 1000 acres of land depending on the or on iho proprietors of urban property of similar value REMOVING FROM NEW big concerns getting away from wall streets influence chicago sept 28 the inter ocean today says because clerks and officials are affected by wall street speculation fever a number of large industries are to move their general offices from new york to chicago according to the reports circulated with the announcement that the american steel foundries corporation will make foucha change next month william V kelly president of the concern bald yesterday that temporary quarters had already been rented in the star building for the general offices of the company mr Kelly would not discuss the report that the removal was due to the influence of wall street excitement upon employed emp loyes with responsible duuck it is said that there are a number of other firms considering tho same move and tor the same reported reason their names could not be ascer bained yesterday but they are believed to be concerns that moved from chicago to N ew york several years ago |