The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-04
NO LEGISLATIVE N0UIRT'
Bracket Asks for One. hut Gov. HiEEins
Seems 10 Think II Unnecessary.


Seems 10 Think II Unnecessary.
ALBANY, April S.-SenAtor Bracket in
troduoed a resolution tonight for a legis-
lative investigation Of tho Equitable, but
doubt is expressed Of its passage. To pro-
tect his good friend Edward II. Hartman
Chairman Benjamin b. Odel, Jr., has cabled
from abroad to his friends here saying that
they must do all in their power to quiet
the disclosures regarding the Hyde-HarTi-
man administration Of the Equitable Life.
supt. Hendricks called on Gov, Higgins
this afternoon and, il is understood told the
Governor that he was going to begin an
examination into the societys affairs at
once. Gov. Higgins, when asked tonight
about his talk with MIR. Hendricks, said that
the Equitable society troubles undoubtedly
constituted the most important matter that
had been before the financial world in
a number Of years.
Both President Alexander and Mr.. Hyde
have az yed the State Superintendent OF
Insurance. said Gov. Higgins, TO make
a thorough examination Of the Equitable
society, 40 that all the policyholders can
be assured as to the condition Of the society.
/ have known Supt. Hendricks long enough
and we'll enough to cay that he is thoroughly
competent 90 undertake this matter, and !
am sure that everybody can be assured
that the Investigation he will make will be
an entirely honest and proper one. The
entire insurance world and the mass OF our
people will be satisfied with his eXaminR-
ton
-, this 10 be taken, Governor, 20 mean
that there will probably be no legislative
Investigation!
il more competent and Letter equipped
than the Legislature would be TO under
ta,;, an examination Of the society, said
IN. Governor. for the department has
a large corps OF men and will begin the
work as soon "a possible.
When asked IL the action Of his depart
ment would involve an examination merely
or an investigation, Supt. Hendricks said
that IL would Oh rtake Of the nature OF both.
As o. the probable scope OF such an eX-
animation be had nothing 70 say
Isaac ~ Vanderpool, chief examiner
for the State Insurance department, sta
toned at New York city, will have the
examination 10 charge and will have such
assistants a. the work requires.
senator Brackets resolution, introduced
tonight, reads:
Rcsoirsd ~ the Assembly concur, That
bers OF tho Senste aud hve members OF the
Assembly. he Appointed 70 investigate the
Affairs OF the IQuitahle lAie Assurance bo-
ciety Of the United states, to ascertain
Whether any improper use has been made OF
the funds OF said society, either temporary
or permanent. or any waste or misoppropria-
ton. whether there has been any violation
of law on the part Of any director OF said
society with respect 10 the sales Of securi-
ties 10 said society, or the receipt OF commits
sions or compensation for such sales whether
lie rates charged by said society for in
surance and the expenses o. the society are
ertTavagant and generally whether said
society has been lnanHged honestly and
With a proper regard TO the interests OF the
persons Interested in said society,
Said committee IL hereby given power 20
sit when the Legislature Ia not In session, and
TO make is report at the next session OF the
Legislature with any recommendations II may
desire II shall have power 10 subpoena aud
enforce the attendance OF Witnesses and the
production Of books and papers. 20 administer
oaths and 20 punish for contempt; ~ may
employ counsel stenographers. eIperts, clerks
and employees a. may be necessary for the
purposes Oh the Investigation,
The sum Of t25.O IA hereby appropriated
out OF any money In the treasury not otherwise
appropriated for the purposes OF said com
mittee,
Senator Bracket attempted 10 secure