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Story
January 3, 1906
Mower County Transcript
Austin, Lansing, Mower County, Minnesota
What is this article about?
Andrew Hamilton, legislative agent for New York Life Insurance, has not accounted for $235,000 in company funds used for secretive legislative work. He explains no records were kept for secrecy and offers to deposit $100,000 in good faith during the ongoing investigation in New York on Dec. 28.
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SECRECY A NECESSITY
NEW YORK LIFE INSURANCE COMPANY'S LEGISLATIVE AGENT
KEPT NO ACCOUNTS:
New York, Dec. 28.—Andrew Hamilton, the legislative agent for the New York Life Insurance company, who, according to testimony, has been entrusted with hundreds of thousands of dollars by the company and has not accounted for $235,000, has been heard from by the legislative insurance investigation committee, but has declined to make an accounting.
A statement by Mr. Hamilton was read for the record during the day. It was presented by Secretary John C. McCall of the New York Life, who went to Paris to secure an accounting from Hamilton. In his statement Mr. Hamilton says that he is unable to produce any books or accounts because he undertook the legislative matters for the life insurance companies with the express understanding that he was to make no accounting. Absolute secrecy was necessary in retaining assistants, therefore no checks were used in making payments.
Mr. Hamilton went into an exhaustive explanation of the reasons for organizing this confidential service, as he characterized it, covering his methods of work, and citing a number of legislative bills in which he had been interested. A list of expenses from 1899 to 1904 was appended to the statement. The sum of $235,000 unaccounted for he says, would be greatly reduced by his running account still unsettled and open, and, as a matter of good faith pending a settlement, he offers to deposit $100,000 with the company.
NEW YORK LIFE INSURANCE COMPANY'S LEGISLATIVE AGENT
KEPT NO ACCOUNTS:
New York, Dec. 28.—Andrew Hamilton, the legislative agent for the New York Life Insurance company, who, according to testimony, has been entrusted with hundreds of thousands of dollars by the company and has not accounted for $235,000, has been heard from by the legislative insurance investigation committee, but has declined to make an accounting.
A statement by Mr. Hamilton was read for the record during the day. It was presented by Secretary John C. McCall of the New York Life, who went to Paris to secure an accounting from Hamilton. In his statement Mr. Hamilton says that he is unable to produce any books or accounts because he undertook the legislative matters for the life insurance companies with the express understanding that he was to make no accounting. Absolute secrecy was necessary in retaining assistants, therefore no checks were used in making payments.
Mr. Hamilton went into an exhaustive explanation of the reasons for organizing this confidential service, as he characterized it, covering his methods of work, and citing a number of legislative bills in which he had been interested. A list of expenses from 1899 to 1904 was appended to the statement. The sum of $235,000 unaccounted for he says, would be greatly reduced by his running account still unsettled and open, and, as a matter of good faith pending a settlement, he offers to deposit $100,000 with the company.
What sub-type of article is it?
Crime Story
Deception Fraud
What themes does it cover?
Deception
Crime Punishment
What keywords are associated?
Insurance Scandal
Unaccounted Funds
Legislative Agent
Secrecy
Financial Investigation
What entities or persons were involved?
Andrew Hamilton
John C. Mccall
Where did it happen?
New York
Story Details
Key Persons
Andrew Hamilton
John C. Mccall
Location
New York
Event Date
Dec. 28
Story Details
Andrew Hamilton, entrusted with large sums by New York Life Insurance for legislative work, has not accounted for $235,000 due to secrecy requirements preventing records. He provides a statement explaining methods, lists expenses from 1899-1904, and offers $100,000 deposit pending settlement.