The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-02
WOULD HUSH PRICK REPORT
Continued from First Page.


bonds to the society, but it says nothing
about those syndicates in which Mr.. Harri-
though both Of them were directors and
Mr.. Schitf was member Of the finance COM
mittee.
The charge has been repeatedly made
that Mr.. Hartman and Mr. Schif, being
directors Of the societv. sold to the society
securities OF various corporations in which
they had personal interest, to their own
profit, and that they caused the society to
purchase from themselves securities at
prices which they themselves fixed. The
securities in which they were profitably in
terested both as sellers and buyers have
been specified as follows
$4,000 Denver and Rio Grande Railroad Com
7soooo uhion Pa pi S'I RaETosd i Company pre-
bcoooo Norfolk and Western Railway Company
ssoooo g. = Per cent .s bonds ,.
100000 PHILADELPHIA, Baltimore and Washington
ohsso and Anon klosd ce e9ass
per cent collateral notes.
N''GSa p'S ana ksFo aoSSss SHaa
$4,000 Ts1ss and psolac Railroad Company
s.e52,oso ws6ass Railroad Company bonds.
$4,000 Interborcugh Rapid Transit Company
2so,oooRalroad Securities Company. Illinois
Central Railroad Company per cent
100000 Loas. Elsad Railroad Company . per
10000 Ralt!moSe and Ohio Railroad Company
ls5oooo Bslamole re- ana ohle s'H RallSosd Company
10000 II ps5 cs ~ hens COMPANY
ssss 600 gspapess government 8 PR cent, bonds.
Louis Railway Company per cent
$4,000 Oregon pgaGs Railroad and Navigation Com.
,oooo p.sssbufsD fo ern' w 1s aud Chicago 81
7soooo Plttsburr, Lake Erie and West Virginia
Railroad Company per cent. bonds.
1T has been charged that other securi-
ties IN large amounts have been sold by
Hartman and ,Schif to tho society and
procured by Hartman and schiff through
Hyde and through their control Of the
finance and executive committees, without
regard to the interests Of the society and to
its great loss. The profits which they have
actions are said to have exceeded IS ,ooo, 900.
Another set of serious charges which
the Superintendent Of Insurance cannot
overlook, but which the Prick committee
has forgotten to mention, are those, which
corporations owned by himself space in
the buildings Of the Equitable Society in
New York. Boston and st. Louis on terms
extremely beneficial to himself and unpro6t-
able to the society. 1t is said that Mr..
TO over si50,Ooo per annum, and that, the
Equitable Society's rentals from these
leases are nominal.
1t is said that the Prick committee did
not consider the charges that Mr. Hyde
had taken about 900 as fictitious Incl
out of the societys treasury as pay for his
personal servants and a few other little
things like that within the scope Of the
committees inquiry
repeated that Mr.. Hartman was the actual
dominating member, is said to have found
Mr.. Hyde, Mr.. Alexander and Mr.. Tarbel
all guilty enough to get them out Of the
way so as to leave the way clear for strong
Wall Street control. THIS is almost 81, sure
the lost prestige and business Of the society.
The suckers will surely bite again as soon
as the weather clears.
1t was stated last night that there we're
other charges against members Of the
report. For instance, one member of the
Frick committee, 1t was alleg I'D, had a con-
tract with the Equitable society whereby
he in eject received a rebate upon his
insurance policy for some years, the rebate
Details of the meeting which the beard
Of directors held on Wednesday began to
leak out yesterday. There was the bit
terest kind Of feeling shown between some
members of the board, and it was said
that once or twice hand to hand encounters
were threatened Jacob H. SchifT and
Bravton Ives got into dispute. and before
it was over other members OF the board
feared that they would come together.
That happened during the discussion
IL . @ssv.1~ 80 L.,
the Feaa tn o, the thpps M
Transactions for which the finance oom-
mittee was held responsible should not be :
attributed to them. Mr.. ingalls, contra. !
dioted what Mr.. Schiff. said, and for several /
seconds they had it hot and heavy, until |
,ther directors Quoted them down.
Another feature of the meeting was
! speech delivered by Second Vice Pres idc Mt !
sage E. Tarben. Mr.. Tarbel has been |
regarded as being hand and glove with
President Alexander in his fight. Mr.,
the Equitable officers, Alexander included
He said that the salary system in the Equit-
able vas based not IN merit, bur on par
tizanship. man was paid high or low
salary, he asserted, according as he was
hyde.
He concluded by saying that II tn, board
II directors continued its policy OF bicker-
ng he would he constrained to tell the
public and the polcyhoiders that 1t was up
o them to hold the directors personally re-
'ponsible for the condition Of the society.
Mr.. Tarben had something Of an en-
counter with Chairman H. c. Frick yester-
lay morning. :. He went over to Mr.. tricks
,fdce in the Trinity Building and demanded
copy Of the Fick committee report.
which the committee had refused up to that
ime to give out to any of the directors.
'ir. Frick refused the request, and there
vas heated discussion for FIVE minutes
Then Mr.. Tarbell walked out of the Office
With the report under his ann.
1t was learned definitely last night that
he Frick committee report contains no
,harge against Senator Depew or against
1. c. Deming, W. n. Mcintyre and several
,thers who have heen mentioned promi- |