The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-13

W r. HNEUspn. III stCuHu VICE
ne adcnt once ..... .........., 5000 $40
n q Winthrop, financial manager 5000 $40
john G.lrhrs securities depart.
r'rni ........... ....... 5000 $40
edwards, advertising de.
TEr'ucn,. ....... ......-..... 5000 $40
/ McGWnncss, purchasing de.
rcrrrcnt .. ................ 5000 4So
Samuel Frost recorder ..,........ 1900 SEQ
y. Junk, cashier Of financial
derar'ment,.,.. ..........,..... 1000 $500
H. /. German. In second vice.
PRESIDENTS ONO" ,.......-...,... 5000 . IN
The excessive salaries paid by the Eouita
bic to its officers and EMPLOYEES was one
Of the things criticized severely in the Hen
bricks report The State Superintendent
showed that the salaries of the Equitable
officers and employees were higher all
the way through than those paid by the
other Zig companies. The present reGuc-
tons it was said leave them quite as high,
snd it was minated that there might he
still further cuts
u will be noted that Miss Anna L. Amendt.
whose salary of $1,000 as private secretary
to Gage f. Tarbe has been the sub iect
OF much criticism. is one of those who come
in for Is per cent. reduction.
The statement came yesterday from a
man close to Jacob H. Schif that Mr. Schff
feels as though he has been very much
aggrieved and misunderstood man in this
whole Equitable scandal. He feels, it was
said, that he has done nothing wrong and
that persons who understand the trans
actions in which his firm participa ted ought
10 ahsolve him from any intention to violate
his trust.
Mr. Schiff has. in fact. it was said. re-
oeived letter from George Westinghouse,
on" Of the Equitable trustees, in which
Hlr Westinghouse expresses confidence
in Mr. Schf's honesty of purpose in the
transactions criticized. Efforts were made
last night to get Mr.. Schif to say some
thing about this letter, but they were futile.
Mr. Westinghouse had nothing to saw.
II is understood however that if Mr.. West
inghouse wrote to Mr.. Schiff it was not as a
trustee Of the Equitable or as represent
ing the We've Of the board Of trustees.
Mr.. Schiff had something to say Yesterday
in regard to his testimony before Supt.
Hendricks that the records of the Equitable
must be false in showing that Kuhn Loeb 4
Co. sold Union Pacific preferred stock to
the Equitable Life company. He reiterated
his statement that the Equitable Life was
not in anv syndicate for Union Pacific pre-
ferred which was under the supervision
Of Kuhn, Loeb l. Co.
Mr.. James H. Hyde is, however" said
Mr.. Schiff, credited with g. 500 900 of Union
Pacific preferred. and if this was turned
o., as syndicate managers, have no knowl-
edge OF it, and no order to that effect is
upon our books"
Mr.. HYDE testified that he represented
the society in these ransactons, with the
consent Of President Ale 1ander and that
me stock, amounting to approximately
H,eoooo0. although carried on the society's
books, was still in the names Of clerks in
Kuhn Loeb & Co.'S offices,
An effort was made yesterday to learn
nom Chairman Morton whether this stock
wa actually in the society's vaults. but he
would not give out any Information. The
testimony Of John Glchrist, one of the
Equitable employees in the finance depart
rnent, before Supt Hendricks, however
throws some additional light on these
that the Equitable society actually owned
STOCK and that it vas held az a syndicate
account in the societv's vaults. 1t was
In the name of Kuhn, Loeb & Co. but was
carried on the society'S regular stock list. 1
He said he was told that the society itself !
sNvndlcate and that he couldn't reconcile ,
Mr. SchiH's statement that his firm never |
spld dollars worth of Union Pacific to /
the Equitable with the facts as he found |
mem lfe testified that the certificates
o. stock are all assigned on the back in
bIank by Kuhn, Loeb & Co., in whose name
they stand.
Acknowledgement Mayer, it is expected
WI. MI arrive IN town to-day and take up again
the preparation of his suits against the ac-
clSed directors
u. ne reports of my connection with the
Washington Life Insurance Company are
inaccurate, When that company was on
NE verge of bankruptcy last December
from inlsnanagement ] joined Gov Nor
t"n ana others in subscribing the neces-
IN nllf fla h.
ni,rohg financial position in which it finds
l,seli to-day. Its business is daily in
cleaSlng and the policyholders are to be
congratulated on Gov Morton's willing
ness Wholly from sense Of duty and in
spite OF his advanced age, to step in to
prevent impending disaster to company
u rwI"ch he had been a charter member"
{. I'VE shares Of Equitable Life Assurance
Iiioclety stock were offered for sale at pub
nc auction yesterday, the highest price
used s to accept. Prices on the stock as
'o'a IT mall lots have ranged from s., 600
10 5000 a share.
ALBANY, July l2.-Gov. Higgins to-day
Wa asked regarding the published state
'Se r@ %, Chairman odel tina, he favored
i"es'!'n and enacting remedial legsla-
IN AZ the present session. He was asked
u IN" statement would have any influence
-Pon his attitude.
., = !, not apt TO-" the Governor replied.
II IN" Governor rosiion has Leen all
'ohg mat he i. Of the opinion that nothing
,a' lcoA developed which would warrant
' a,Ei ~ calling upon the extra session for .
1aoor' 'iH was asked il lie regarded
Ir'et settlement as indicating the position
y ~" 't"uu licln state organization.
'"1.iy cane say" he replied $
va say this" said the Governor; IL
a.S no question that great evils exist ,
g es Wv, manner in which the insurance bust t
rs mas been conducted in this State. Its
~ universal opinion that these evils should :
c corrected, and that they should lie cor v