Newspaper Page Text
BKPTE5IBEU 2f, 1905
PAGE 11 X5f3 Nebraska. Independent 4 Columbia national Bank . & OF LINCOLN, NEBRASKA. .CAPITAL, - $ 100,000.00V SURPLUS, 14,000.00j K DEPOSITS 1,350,000.00 X 5 OFFICERS j" John B. Wright, President-! J. H. Westcott, 1st Vice Pres. Joe. Samuels 2d Vice Pres.V 3 P. L. Hall, , Cashier t,W. B- Ryons, Asst. Cashier.Q, xooooooooooo Sliiicolii SANITARIUMS O Sulpho-Saline Bath Co. O O Treats all acute and chronic O curable cases by a thorough Q O course of Natural Mineral Wat- er Baths and all recognized Rheumctism, stomach, kidney A j liver, skin and nervous diseases O treated successfully. V The only Sanitarium in the j state using natural mineral Y V water. V A large and thoroughly equip- Oped hospital department for sur- gical cases. . V O- DRS. EVERETT, O Managing Physicians. LINCOLN, NEBRASKA. Q r THE LINDELL HOTEL A. L. Hoover & Son, Props. LINCOLN, NEBRASKA. Centrally located, Cor. 13th and M Sts. The largest hotel in the city, up-to-date and 1st class in every respect. Prices moderate. American and Euro pean plans. Phones in all rooms 52 rooms with bath. . ; ; f WILL H. GREEN ....Dealer in.... Wall Paper. Points. Varnishes, Mouldings PAINTING. DECORATING and FR.ESCOEING Both Phones. 1527 O Street. LINCOLN. NEBRASKA. PURE HONEY From Producer to Consumer. . FOUR OR MORE 11 LB. CANS EACH $1.00 6 OLD. CANS EACH 4 80 F. O. B. here. Sample by mail 3c. Address F. A. Snell, Miiledgeville. 111. Agents Wanted TO SELL George W. n f r r o - MJ Ml M J Kit O Everywhere New Book "THE FREE PASS BRIBERY SYS TEM." This book will be a seller. Couknilu will want it. Ynu ran bvsiuuu ..... - - - - make $100 per month. For particu-j lars address THE INDEPENDENT. WIDESPREAD GRAFT INSURANCE OFFICIALS IN MANY KINDS OF CORRUPTION Contributions to Republican Campaign Funds to Prevent Restrictive Legis lation and to Make Sure Existing Laws Would Not Be Enforced George W. Perkins, member of the firm of J. P. Morgan & Co., and first vice president of the New York Life Insurance company, was the star wit ness at- last week's session of the spe cial legislative committee probing life insurance companies' methods, and his testimony was replete with revelations in the development of fi nance as applied by insurance com panies. The climax came when Mr. Perkins was asked concerning an en try of $48,702 in a ledger marked "Ordered paid by the president." Payment Made jo J. P. Morgan The check was made out payable to J. P. Morgan & Co., and Mr. Per kins frankly stated It was a contribu tion to the national republican cam paign committee and paid to Corne lius N. Bliss. Mr. Perkins said: "This payment was made after very careful deliberation. It must not be considered an ordinary contribution to the campaign fund. "It was paid because we felt the assets of the New York Life company would be jeopardized by a democratic success." He said they contributed in 1900 and 1904. This bomb ''was threwn when the room was packed with spectators. Every one bent forward to catch the testimony. J , ' r Kept a , Da rk Secret Pursuing the check inquiry further Mr. Hughes brought out that this ex penditure was never brought to the attention of the finance committee, the witness terming it a purely "ex ecutive action." "If the president out of his own ex ecutive authority without reference to the finance committee pays out such large sums as these, how do they ever come before the officers of the company?" "I have said the finance committee has no authority over the agency ac counts and general expenses. I think there should be a broadening of this authority." Mr. Perkins was then asked about checks for $55,000 and $45,000 made payable to Andrew Hamilton March 3, 1904. Mr. Hamilton is a politician who spends much time at Albany dur ing sessions of the legislature. ' Non-Ledger Assets Mr. Randolph, treasurer of the New York Life Insurance company testi fied that a considerable amount of the assets of the com pany did not appear, on the ledger, but were kept track of on a card in dex, which showed the purchase and sale of the securities. Where stocks had been received by the company as profits of underwriting syndicates they were placed on the card index as non-ledger assets, while bonds re ceived from the same source were placed on the ledger, it being deemed better to have the bonds show up as assets than the stocks. The examination of Frederick Cromwell, treasurer of the Mutual Life of New York, brought out the fact that he had profited from trans actions with the company to the ex tent of $26,371. Mr. Cromwell held that syndicates were absolutely necessary for a com pany doing the large business which a life insurance company transacts.; According to Mr. Cromwell, the Mu tual Life has about $150,000,000 in vested, of which $150,000,000 vas in bends and mortgages, the balance be ing handled through the medium of syndicates. Mr. Cromwell testified that it was impossible for the insurance compa nies to buy the bonds direct from the railroads as they were issued, the officials of the roads stating that they could not afford to ignore the bank ing interests. Helping Out the Banks Mr. Hughes questioned Mr. Crom well in regard to the large cash bal ances which the company kept in a bank in which it was interested and intimated that the large balance was kept for the purpose of enabling the bank to profit from the deposit. Mr. Cromwell denied that the large de posits were made just for the pur pose of profit to the bank, but ad mitted that the stockholders profited from the deposits. It has been one of the boasts of the New York Life in recent years that it had no trust company con nections. Charle3 E. Hughes, chief counsel of the investigating commit tee, has shown that this boast Is not well founded. The New York Life formerly owned, and as a matter of fact, practically controls today, the New York Trust company, which for merly was the New York Security and Trust company. 1 Deceiving German Government. In connection with its relations with this company it was brought out that the New York Life practiced de ception to hoodwink the Prussian gov ernment, whose laws prohibit an in surance company doing business with in its territory that has trust com pany stock. To nominally comply with the regulations of the Prussian government, the New York Life made a peculiar sale of its stock control to the trust company, a negro mes senger acting as a dummy in the transaction. It retained an option by which it may buy back its control of the trust company, and as long as this option remains in force the stock that it supposedly sold is in the custody of three trustees, two of whom are offi cers of the New York Life. These trustees vote their stock at the annual elections, and in effect the New York Life controls the trust company al most-as completely as it did before the alleged sale of the stock. In relation to the Metropolitan Life which has 6,000,000 outstanding policies in force chiefly held by per sons of slender means, it has beon made clear that the absolute control of the many millions of that company is vested in its president, J. II. Hage man. Mr. Hageman makes invest ments in securities or sells them on his own responsibility and the Re called finance committee of the com pany ratifies what he does after the transactions have been concluded. Hyde Is in Hiding The investigating committee does not want to investigate the Equitable until it can get James Hazen Hyde on the witness stand. Mr. Hyde and the former comptroller of the Equit able, Thomas D. Jordan, and others of the old directors of the company have so far kept outside the juris diction of the committee's subpoena servers. It is still an open question whether Mr. Hyde will appear on the witness stand. INDIAN COUGH CUR for 3Co. I will nd you full directions how to prepare a Celebrated inlSM Cough Syrup which will poaltiTely turo a cough when all else falls. UhocJ In my own family 20yra. Money back If it falls to euro. A. C. Shaw, Can ton, Ohio. rVIaly fnffi Hest Quality. 5c pr I'laU-VUllCO pounrt. Samples and Circulars free, rlfwavifeee Importing Co,, 506 37th Street, Milwaukee, Wis. A. V. Johnson & Co. 1207 M Street LINCOLN, NEBRASKA. Wholesale Cigars OUR. SPECIAL BR.ANDS NICARAGUA PATHFINDER, In threa sizes ORIANA, In two shapes NEW YORK SPECIALS, 3 sizes, 103 National Board of Trade of Kansas City, Missouri, OLD COMMERCE BUILDING, 545 Delaware Street, KANSAS CITY, MISSOURI. The principal object in organizing the NATIONAL BOARD OF TRADE OF KANSAS CITY, MISSOURI, was to establish a reliable market for grain. Grain shippers will consult their own interests by carefully in vestigating this splendid new enterprise. Its success means much to the Nebraska farmer. ' . -: . Full information cheerfully furnished on application. JAMES DONOHUE, Secretary, Kansas City, Mo. STOVES AHD.BAH6E8 LOWEST FACTORY PRICES. Tbli Is the best range that money can buy we KNOW It, sowlU TOD after you have examined and used It la your own borne. We do not ask you to send us one cent. We want you to let ua snip you tnis range on fttSO Days Free Trial Bet it up in your own nome ana put it to kvjsut pobsiblh test1 for 80 days. Test It for economy In retaining beat, for soundness and durability: for oulck. reliable cooking, roasting and baking: testlt in ANT WAT TOU CHOOSB to convince yourself tbat It In Just as represented and that weca-n sare yon from to u ,xon your i-urcnase ana giro you bet ter goods than you can obtain anywhere else. We bare our own big factory fnrannnlvlnff our ever Increasing trade. Every stove and ranwo wblch we t manufacture is not only sent on 30 days free trial anywhere in America butts WKWSST GUARANTEED FOR FIVE YEARC 8ave the profits of Jobber, dealer and agent by buying DIRECT FROM MANUFACTURERS. Write for our large catalogue and eomplete information regarding our 80 days free trial oiler. Walt until you bare bad our liberal plan before buying a stove or range of any kind. 016 Liberty St., KANSAS CITY. MO. Please Mention THE INDEPENDENT When ou Write to Advertiser.