New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-07

ARCHIBALD c. HAYNES.
enormous drygoods establishment A life 'insur-
ance EXPERT recently spoke of him remarkably
successful and brilliant dealer In insurance goods
on a vast scale transacting all Of his business on
commission and only with one company hls
agents in this city and in Philadelphia wrote poll
cies for the Equitable Society, but the premiums
on all policies were paid directly 10 the sociey'
and the commissions were paid first 10 Mr..
Haynes who In turn allowed liberal commissions
10 his agents. The policies passing through MS
agency have amounted % millions Of dollars each
year. and his accoun, with IA" society has been
enormous Mr. Haynes. on account Of the large
business transacted IN hia agency. had an cx-
tenaive acquaintance among insurance men, ana
he has been regarded man of extraordinary
ability in the line Of his business. Naturally hiS
retirement has caused great deal OF talk among
his acauaintances and many have expressed
eagerness TO know the reasons for his sudden re-
tirement from the agency in which he had been
for years 30 prominent and successful
HIS MARRIAGE TO MISS GALE
About three years ago Mr. Haynes was married
10 Miss Minna X Gale. the well-known actress.
who had played important roles with Booth and
Barrett and wished to make her marx In the the-
atrical world a star. j. was reported later
that Mr. Haynes. although reputed 10 be man OF
wealth, had been forced into financial diflculties
By the theatrical venture in which his wife was
the leading figure. When she played at the Star
Theatre In the winter Of 1929 he secured large
audiences it was reported. by purchasing tickets
freely and distributing them to officers agents and
clerks Of the Equitable Life Assurance Society
In 1892 his financial difficulties said TO have
reached the point whore ii was not possible for
him TO meet all OF the demands upon him without
borrowing heavily. and some of his paper went TO
protest Since then his acqualntances have under
stood that he had been under heavy financial bur
dens but that his creditors were friends who were
willing TO aid him the utmost limit Mr.
HAYNES was not compelled to make an assign
rnent and he continued TO transact mis- large busi
ness in which there no risk 70 him and much
profit The Equitable Life Assurance Society also
aided him by loans to meet the interest on his
debts. but such loans were secured by commits
sIons falling due and the interests Of the society
were thus amply protected.
Mr. Haynes offer his resignation as agent OF
the society in December last. but afterward with
drew It, believing that he could free himself from
the burden Of debt which oppressed him. II Is
said, and the fact that ne i?tended to retire from
his agency not made pIblic at the time.
About two weeks ago. however he decided TO re-
tire, and he rendered his resignation TO Henry b
Hyde. the president Of the Equitable Assurance
",
tion was accepted William f. Taylor, who had
been associated with Mr. Haynes for number or
years. was appointed agent in place Of Mr..
Haynes and he was in charge OF the agency
YESTERDAY II was said at The Office that Mr..
Haynes had gone out Of the city for a short
rest and that it was not known what his future
plans for business were.
HIS RETIREMENT VOLUNTARY
President Hyde said yesterday afternoon that
Mr.. Haynes had retired from the position Of
agent voluntarily, with the best wishes OF the
officers OF the society. and he added: We re-
gard Mr.. Haynes as a mah of high character
and business integrity. He was very successful
as an agent OF the society. ard transacted
large amount Of business. Any sum which he
may owe 10 the society IS amply secured by com
missions accruing. All contracts made by the
society with him will be Iufed 70 the letter"
Mr. Taylor who succeeded Mr. Haynes as
agent. said: "Mr. Haynes had personal reasons
for resigning which am not AT liberty 10 speak
Of now, but his retirement was entirely volun-
tary The agency will so right on. and Mr..
Haynes Will continue TO receive commissions
on the renewal Of policies which he obtained for
the society. do not know what his plans for
the future In "A business way are"
There was report yesterday that one reason
for the retirement OF Mr.. Haynes was a disagree
ment with George T. Tarbel the third vice
president Of the society. who formerly the
manager of the Chicago agency OF the society
Mr. Tarbell said: Il have had the klndest feel
Ing for Mr. Haynes, and sincerely hope he Will
succeed In any new business he may engage in
The society aided him In 1893. when he became
Involved In financial troubles and his paper
went 10 protest. II was understood that loans
made TO him by the society were intended 10
nav the interest his debts. The loans
secured by commissions falling due accruing
Mr.. Haynes may have felt that he could not go
on carving the load. 1t has been understood
that his creditors were his friends and that
OF them were interested I'm the theatios, vsnt-
Ircs which proved TO be So unsuccessful"
Frank H. Ballard. the superintendent Of
agencies in the society. said that Mr.. Haynes
did not owe much money TO the society. and
that advances which had been made to Mr.
HAYNES were amply secured. Our loans to