Newspaper Page Text
VOL. XXXII, NO. 348.
TALKS IN BEHALF OF SYNDICATES TREASURER OF THE MUTUAL LIFE ON THE STAND DECLARES THEM NECESSARY Claims That Only Through These Combinations Can the Big Com. panles Secure Investments at Advantageous Prices By Associated Press. NEW YORK, Sept. 18.— A vigorous defense of syndicates and their opera tions in connection with the insurance business and a frank statement of per sonal profits gained through their operations made bj Frederick Crom well, treasurer of the Mutual Life Insurance company, was the feature of today's session of the special legislative cummittee appointed to probe methods of life insurance companies In this state. The defense of the syndicates was made by Mr. Cromwell soon after he wassailed to the stand In the morn ing. Before he was asked a question he begged leave to say a few words, and upon being directed to proceed, raid: "The law of combination which af fctts finance as everything else has made syndicates necessary. When I became treasurer of the Mutual Life Insurance company the total assets of our company were $100,000,000. The transactions In my department now are over $100,000,000 per annum. When our receipts were less— twenty years ago— it was quite possible for us to buy from bond dealers and pay the suc cessive profits, but now it Is absolutely impossible to buy advantageously large blocks of securities, except as they are allowed by the combinations of capital, popularly called syndicates and we have to go Into them to get our investments and get them In suffi cient size and at 'ground floor' prices. We could not make our investments without sylndlcates and we art part ners In every syndicate Into which w$ go. I want to say further that unless we went into these syndicates we would not be able to Invest our funds except by buying In small quantities and pay ing the successive profits of middle men. .-, .. . $450,000,000 of Asset* ~~"\"l' ask you, MrV' Hughes" and the committee, to consider that -we have now over $450,000,000 of assets and while we have over $100,000,000 Invested in bonds and mortgages, 'we are con stantly under the necessity of finding additional investments for our large accumulations of funds. This Is tha condition. It Is no theory. It Is a con dition which we meet and the exhibits are here which show how we have to employ It. Our Investments are such that when Mr. Tappan, I suppose about the most widely known and honored bank president,in his day, died in New York, he left It as a condition that his trustees should have one privilege and that was to invest the sum in securi ties as those of the Mutual Life In surance company. That is the way we Invested our money, but we could not make the transactions of $100,000,000 a year In the securities bought by this company without using syndicates." The acknowledgement j of personal profits was made In tabulated state ment which was presented to the com mittee after recess. It showed that Mr. Cromwell had made a personal profit of $26,371 from syndicate operations dur ing the last five years, In which he In dividually and the Mutual Life Insur ance company had participated. Mr. Hughes, chief counsel of the t committee, immediately took up an es timate of these syndicate transactions In an effort to ascertain the manner in which these profits were obtained. An interesting point was u^Jj^ht out when probing a transaction of the Pennsylvania railroad 3Vi per cent con vertibles, Mr. Cromwell made no per sonal profit, the witness stated. Interested In Pennsylvania Road "Of course we are greatly interested ■ In the Pennsylvania railroad. I might say we are tha heaviest stockholders," he added. Answering Mr. Hughes, Mr. Cromwell said the holdings of the Mutual Life in the Pennsylvania railroad were $5, 000,000 par. Among these transactions the connection of trust companies with the Mutual Life was brought out when it was stated' that the one million pounds sterling subscription to a Jap anese loan was shared by the United States Mortgage and Trust company and the Guarantee Trust company. In explaining this relation Mr. Cromwell said: 'We gave these opportunities to the trust companies in which we held large interests for very good reasons. As I explained this morning we, as an in surance company, need very large bunking facilities for very large tn tprests. It goes without Baying that it Is better for us to use our own com panies rather than give to institutions with which we have no connection the handling of our large investments. For this reason, we put men Into the direc torate of these subsidiary companies to'look after: the interests of thei Mu tual. They are not there for the profit ' ' (Continued on Page Four) Los Angeles Herald. BUNKERS MAKES CONFESSION AT TRIAL OF EMMONS E. J. EMMONS ASK PROTECTION FOR INDUSTRIES CAUCASUS REPRESENTATIVES CALL ON MINISTER WANT LOAN ON LONG TIME Baku Strikers Reported as Placing Dynamite on Street Railway Lines for Purpose of Stopping Traffic By Associated Press. ST. PETERSBURG, Sept. 13.—Rep resentatives of the principal industries in the Caucasus, including those of the Nobel company, called on Finance Minister Kokovsoff and asked that the troops be kept at the works; that the police service be improved, that the unruly elements be removed, and that a long. loan, without Interest be granted. The minister In reply said that he sym pathized in principle with the requests made by the deputation, and that he was ready to co-operate in every way possible with the oil men. The deputation consented .to the min ister's request to resume the delivery of naphtha to the Volga steamboat companies in order to prevent the'dis location of trade. Private dispatches from Baku say that the strikers are placing explo sives and stones on the street .railway lines for the purpose of stopping traffic, and that troops have been called to guard the lines. It is sakl that two divisions of troop 3 will be concentrated in the Baku dis trict. BUY SAFETY FROM BANDITS Oil Producers State They Are Forced to Purchase Immunity By Associated Press. LONDON, Sept. 13.— The Petroleum Review of the current week publishes a remarkable memorandum presented by the Baku oil producers to the Rus sian minister of finance, M. Kokovsoff. It declares , that, owing to the utter helplessness of the police, the produc ers are compelled to purchase safety from the bandits living in the villages of Balakhan, Sabontchi, Romanl and Zabral by periodical payments of large sums of money, as otherwise. the whole of the oil field region would suffer from their depredations. The producers pro pose that the inhabitants of these vil lages, which they say are merely dens of robbers, should be transferred , elss where. ,' The correspondent of The Times at Baku says that the English oil com panies there have been forced to abandon work owing to threats ma.de by the revolutionaries. , , TIFLIB COUNCIL RESIGNS Protests Against Killing of Social Democrats by Cossacks TIFLXS, Sept. 13.— The mayor and members of the town council have re signed as -a protest against the killing and wounding of Social Democrats by Cossacks at the town hall Monday night. According to a report received from Ellzabethpol i a temporary peace has been declared between the Mussulmans and Armenians, as the result of Inter vention by the clergy. - Both the admin istration and the Christian population are much surprised that the Tartars should be so well armed. In many dis tricts the ammunition of the troops has been exhausted while the Tartars still have an emple supply. Assembly Dispersed by Troops By Associated Press. HELSINGFORS. Sept. 13. — Troops with fixed bayonets today dispersed a meeting of 800 delegates from all towns In Finland, called for the purpose of discussing 'the present' situation. The police had previously ordered the deleg ates to disperse,. but the' order, was Ignored. LOS ANGELES, CAL., THURSDAY MORNING, SEPTEMBER 14, 1905- HARRY BUNKERS ACCUSE SUNDAY SCHOOL TEACHER CHARGE YOUNG WOMAN WITH FORGERY DECLARES SHE IS INNOCENT Police Arrest Miss Ruby Castleman on Suspicion of Uttering Checks to Which Signature Is Un. authorized Miss Ruby Castleman, 22 years old and pretty, was placed In the city jail last night to await arraignment this morning on a charge of forgery. The young woman Is said to have se cured $217.85 in the last ten days from the West Side bank by using the name of Mrs. Louise Bowen, wife of ex- Councilman Bowen, and drawing four checks upon her account. x . . ' ■ , Miss Castleman was arrested last night at. 645 Maple avenue by Detect ives Robards and Sharon as she, was calling . oj) friends at i that addrf.ss. When confronted with the charge, of forgery she protested her Innocence and •willingly accompanied the detectives to the station house. J." .(' Is Sunday. School Teacher Miss Castleman, who -declares she teaches a; Sunday school class in one of the local churches, lived with her uncle, H. W. Martin of 426 East Fifty second street, In whose family she has resided from childhood. When It was reported to the police several days ago that a number of forged checks,' purporting to be signed by Mrs. Loulso A. Bowen, had been laßhed at the West Side bank an In vestigation was started. Detective Robards went to Mrs. Bowen's home and was told that a neatly dressed young woman had called at Mrs. Bowen's home a few days be fore and asked permission to use the telephone for a few moments. Mrs. Bowen said she thought nothing un usual of the young woman being a stranger and entering her home, be cause of her pleasant manner and ap pearance. Misses Check Soon after the visit Mrs. Bowen missed a check for $4.50, drawn in favor of P. A. Amick, but decided she had given him the check and dismissed further thought of it. The first forged check was drawn for $4.26; the second was for $10; the third was for $76.50; and the fourth was for $127. All of these checks were payable to the order of Mrs. P. L. Amlck .and purported to be signed by Louise A. Bowen. So clever was the forgery of Mrs. Bowen's name that four of the checks passed the cashier. of the bank before the forgery was detected. The missing check, payable to P. L. Amlck, was in dorsed by that name and cashed at the Same bunk; , It is believed by the police that this check was used as a copy and was se cured by the mysterious young woman who visited Mrs. Bowen's house to use the telephone ten days ago. The police say that Miss Castleman was accused. of a similar offense six weeks ago, when she; is said to have gone to. the rooms of Misses Bessie and Leota Bond, 947 Francisco street, and took their savings bank pass books from a ' dresser during their absence. i It is said that on one, book she se cured $100 at the Union Bank of Sav ings and on the other book she secured $5. The police investigated this case, but owing to the friendship of the per sons concerned, the affair Is said to have been, adjusted. . . .. ' .When arrested last night by Detec tive Robards, . Miss Castleman declared she was Mrs. P. L. Amlck and the checks which were alleged to have been forged were given her by Mrs. . Bowen. Later she declared, she knew nothing of them. ;..■/ ...''.: ■ . i The. young' woman .-is said to have been a prominent . worker . In a . local church.' . , '■ BUNKERS MAKES FULL CONFESSION TESTIFIES IN TRIAL OF E. J. EMMONS TELLS OF "GRAFT" CAMPAIGN Describes In Detail the Plans Made for the Holding Up of the Building and Loan Associations By Associated Press. SACRAMENTO, Sept. 13. — Brought from his prison cell to confront his alleged associate In the boodllng com bine of last winter, Harry Bunkers, former state senator from San Fran cisco, who was recently sentenced to five years in' the state prison for his share in the transaction, today made a complete confession on the witness stand in Judge Hart's court room, where the trial of E. J. Emmons, one of the quartet first expelled from the senate and then Indicted by the grand jury, was in progress. ■ From the'mo ment of his ' entry to the court room until he left it, pale and perspiring, three hours later. Bunkers was the central j figure in one of the most dra matic exposes In criminal trials of this state. ■He left nothing untold, and In his eagerness to unbosom himself he forestalled the objections of the de fense with statements relating to the motives and actions of the four dis graced legislators. Much of this was stricken from the testimony but there was enough to indicate that District Attorney Seymour is in possession of th«s vital facts and circumstances re lating to the bribery scandal of last winter.' Few of those in attendance at the trial expected that Bunkers would be called to the stand during the day. It was assured that the prosecution would follow the order pursued In the Bunkers trial and adduce any aditlonal tKstlmony when on the point of clos ing the case for the people. The ru mored confession of Bunkers, however, had everyone on the alert, and the court room was crowded to the doors when the afternoon session opened. Bunkers Shows Great Change To 'his former colleagues in the sen ate, to tW newspaper men in attend ance at the tHot BT "i in .many of. the spectators - "who saw Bunkers during the sittings of the legislature , investi gating committee the entrance of the former senator from. the 18th district was something in the nature of a shock. In comparison with his former rotund proportions, Bunkers la as a school boy to a grown man. His face was drawn and pale and he seemed to have lost several Inches In height. He made his way through the crowd In the wake of a deputy sheriff and although he was smiling upon entering he shrank back In his chair when he en countered the scrutiny of many eyes fixed on him from all parts of the room. Even after he had been sworn there were many who were slow to believe that a full confession was forthcoming. The attorneys for the defense, how ever, were awake to the possible con- (Contlnned on Fnee Two! SULTAN YIELDS TO OUR DEMAND MINISTER LEISHMAN investigation Ordered into the Sen. fencing to Death of Ghlrkis Var. tanlan, Alleged to Be Natural. Ized American Citizen By Associated Press. PARIS, Sept. 13.— A dispatch to the Temps from Constantinople says that the sultan has ordered a ministerial In quiry as the result of the energetic protests made by. Mr. Leishman, the American minister, relative to the sen tencing to death of Ghlrkls Vartanlan, wh» professes to be i. naturalized Amer ican, for the killing of Aplk Undjlan, a prominent Armenian, on August 26. The dispatch says that Minister Leishman did not deliver an ultimatum, but complained that the Turkish gov ernment , had disregarded international law, and that he Insists upon the veri fication of, the American passport pro duced- by Vartanlan. STEEL KING CHOOSES INSCRIPTION FOR TOMBSTONE ANDREW CARNEGIE ALBERS CASE TO BE LOOKED INTO WARSHIP WILL BE SENT TO INVSETIGATE FAIR TRIAL MUST BE GIVEN Authorities Take Steps to Protect Rights of American Citizen Now ' .. Imprisoned, at Ocotal, In J. t .-', . Nicaragua By Associated Press. WASHINGTON, Sept. 13.— After con sultation between the state and navy departments it has been decided that a warship shall be sent to one of the Costa Rican ports to convey American Minister Merry northward to the near est point on the coast of Nicaragua or Honduras to the place where Wm. S. Albers, an American citizen, and his brother are confined on the charge of resisting legal process and insulting the president of Nicaragua. The officials of the state and navy departments decline to make any state ment whatever on this subject just now, but It is known that it has re ceived serious attention, and that the lack of Information as to the exact na ture of the offense charged against Albers, and the poslbllity of his not receiving a fair trial, have caused an effort to be made to get in closer touch with him. The gunboat Princeton, now at Pana ma, is the nearest warship to Ocotal, in the province of Segovia, where Al bers is Imprisoned. But the last named town is seventy miles inland over a rough mountain range and the trail is impassable for vehicles. Amapala, on the gulf of Fonseca, on the southern boundary of Honduras, appears to be the nearest point to Ocotal; The Port Limon company, whose agent Albers was, has sent a lawyer named Bru baker from Philadelphia to assist in his defense. KOMURA BELIEVED TO HAVE TYPHOID FEVER Physlcians Report His Condition as Satisfactory, but Return to Japan Is Indefinitely Postponed By Associated Press. NEW YORK, Sept. 13.— Baron Ko mura, the Japanese peace envoy, who was reported , today to be suffering from typhoid fever, although the con sulting physicians are not a unit on this point, is saidvto be In a satisfac tory condition. Baron Komura is at the Waldorf-Astoria hotel and his re turn to Japan has been indefinitely postponed, although most of the mem bers of his suite will start for home tomorrow, the date originally planned for the departure of the mission. Many messages of inquiry a3 to Baron Komura's condition, including one from President Roosevelt, reached the : hotel today. Flowers and cards have been left by many friends. A cablegram was received during the day from Baroness Komura inquiring as ,to her husband's condition. The Japanese were much pleased at the re ceipt of the | cablegram, as dispatches had been received in this city reporting that the baroness and her children had been murdered. PRICE: DAILY, BY CARRIER, 63 CTS. PER MONTH SCANDINAVIAN SITUATION TENSE GLOOMY DISPATCHES FROM CHRISTIANIA STOCKHOLM MORE HOPEFUL Dr. Nansen, the Arctic Explorer, Now Mentioned as First Minister of . Norway to Great .-,,-• Britain" By Associated Press. LONDON, Sept. 14.— Dispatches from Chrlstiania represent the situation be tween Norway and Sweden as serious owing to the determined attitude of the Swedish commissioners. Dispatches from Stockholm, however, are less pes simistic and express the hope that a modus vlvendi will be arranged. Ap parently nothing definite will be known until today's conference at Karlstad. Much interest has been aroused by the presence in London during the last few days of Frltjof Nansen,.the Arctic explorer, who In February last was considered to be a likely candidate for the premiership of Norway and who since the dissolution of the unity ha* been spoken as the first minister o'l Norway to Great Britain. The correspondent of the Times at Karlstad says he believes there is a disposition on both sides to yield on the questions of the demolition of 'the fortifications and an arbitration treaty. Sweden, he says, does not want ! thw historical fortresses demolished and that If Norway is willing to demolish the modern forts, Sweden will be ready to conclude an arbitration ■- treaty for the settlement of all future differences, but not those affecting the questions now under discussion. ' Baron yon Bildt, the minister of Swe den and Norway to Great Britain, writes to the Times In confirmation of the statement that Sweden asks <jnly the demolition of the modern forts. GUARDS AT ZEIGLER MINES DISCHARGED Property Is Without Protection for First Trnie Since Strike a ' Year Ago DUQUOIN, 111., Sept. 13.— Joseph Lei ter today relieved from duty the entire force of guards at the Zelgler . mines. 1 and the property is now without an armed guard for the first time Bince the exciting days which followed the min ers' strike inaugurated about a year ago. CAB DRIVERS' UNION . STOPS A FUNERAL Special to The Herald. CHICAGO, Sept. 13. — Just as the- funeral cortege of Alder man I atterson was starting from the city hall today the busi ness agent iot the Cab Drivers' union it and forced each driver to put on his button. Those having no -buttons were forced to buy and also pay up their back dues before . starting. Mayor Dunne and members of the coun cil were Indignant over the affair, but were forced to sit in silence until the business of the union had been attended to.- LAIRD OF SKIBO SELECTS EPITAPH "THAT'S DAMNED WHITE OF ANDY," HIS CHOICE CARNEGIE TELLS THE STORY Expression Was Used by Former Bur* ■ gess of Homestead When Steel - King Offered Him* As. Special to The Herald. PITTSBURG, Sept. . 13.— That'i damned white of Andy." This is to be the epitaph carved on Andrew Came gin's tomb. The millionaire Scotchman ' declares in all seriousness that this ex presses the sentiment he will insist on his wishes being carried out. "And I want the whole word of the qualifying adjective used in full," said / Mr. Carnegie, j "I want no 'd' and a dash after it; every letter must be j there." This is how it happened:' Several years ago the steel king tvas told that John McLuckle, who was bur gess of Homestead during the big steel ' strike of- '92, -was having a hard time in striving for success in his new home in Texas. To: a mutual friend Carnegie'" sent word that McLuckle could have anything- he wanted. "No, no," said McLuckie, when told j of the offer, "that's damned white of Andy." ..,:■:,-%,. Carnegie was then informed of the answer and, clapping his hands, said: : "That sentiment • must .go on my tomb— lt will surely be my epitaph." . • DRINKS POISON AND ' THEN SHOOTS HERSELF Registers at New York Hotel and Leaves Note Saying Her Body Will Be Called For By Associated Press. NEW. TORK, Sept 13.— Miss A. W. I Wildey of Washington, D. C, was found dead in her room at the Man- • hattan hotel here today, shot through . the right temple, with a cup contain ing the dregs of a. poison which had, evidently . been drunk, some time today.-' ■. A revolver. , with one empty chamber,^ which' lay beside the. body; caused "tho ' coroner to begin his investigation on. the theory. that the woman had taken her own life. A note was found In the room signed "Miss A. W. Wildey," and . contained only the statement that her ; body would be called for. ; The woman j registered at the hotel yesterday. She was well dressed and of good appearance. . -,'.". BRITISH SHIP CLEOMENE SPOKEN OFF CAPE'HORN By Associated Press. SAN FRANCISCO, Sept. 13.— Fears for the safety of the British ship Cleo mene are relieved by the arrival here today of the British ' ship Scottish Moors, which spoke the Cleomene near Cape Horn, July 12. The Cleomene had been delayed by bad weather and was short of provisions. She was supplied by the Scottish Moors and "is expected to reach port in safety. THE DAIS NEWS FORECAST Southern California: Fair Thurs day, with fog In the morning; light east wind changing to fresh westerly. Maximum temperature In Los Angeles yesterday 81 de grees; minimum 59 degrees. I_Talks In behalf of syndicate!. 2 — Dozier triumphs. 3 — Life hangs on an experiment. A — Addition to College of Fine Arts. 6 — Southern California news. 6 — Editorial. 7 — Exposure may restore mind. B.9— Classified advertisements. 10 — Sports. 11.12— Public advertising. 13— Markets. EASTERN Andrew Carnegie selects remarkable ut terance for his epitaph. •_ ■ . Chicago alderman's funeral stopped by cab drivers' union. Baron Komura is believed to have typhoid fever. V.-.vl FOREIGN Sultan yields to United States' demand for Investigation of case of naturalized Armenian. ■ ' ' • ■ • • Protocol of armistice between Russia and Japan published. ,■,"■■' Industrial representatives of, Caucasus ! apply to Russian ministers for protection and long-time loan. COAST Harry Bunkers makes full • confession, testifying In trial of Former Senator Emmons. ■ . , Boy dies In Santa Barbara, It is claimed as result of lockjaw caused by vaccln- ■'■' ation. , ; Capsized vessel •on Alaskan coast t.iought to ba the schooner Pearl. ;■ , " LOCAL .'. . Pedestrian tries to dodge an automo bile and Is struck by a street car. Qt|94sß| Woman defends .husband' from re- • Jected suitor with revolver.-. : .- ■..-■- • ■■"> ■■! Long: exposure may restore mind . of « former railroad official. • ■ • ',-. : '■ Association organized for the - im- < provement of: tha .residence district of i Pasadena avenue and the Arroyo Seco. :J Ira Lothrop, former secretary of the -^ Hodman-Wise company, arrested in Ban I Francisco on an embezzlement warrant eworn out by president of firm.; •■■-.