The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-16
N CHICK SURPLUS GROWTH.
,oy,IT4DLE WILL PUSH A NEW
EORW or POLICY.
,,,cc in Jeron,e.IIunter Scrap, Governor
and District Attorney Exchange
Letters -Dcpew Lands Decided to 30.
,Jct,-.IIcndricils's Mutual Dciying.

ami UhlEtNt
Letters -Dcpew Lands Decided to 80.
rct, -Iicndrlcks's Mutual DclNins
Tho reorgani1,d Equitable, II was said
.ss,erdav, viii shortly issue q new form Of
,nIicy which il will urge LIS agents to write
I nreicrenc, to the present forms. Tho
new policy will not, however. mean the
T.con,inuance Of the old forms. The
aow one II was said. will he modified
,on.part cipating policy which will 1t Is
|sclarcd, provide moro liberal terms both
hr the holders and the agents.
The deferred dividend policy originated
), the late Henry B. Hyde was criticized
N both the Frick committee report and the
,.,ort Of Supt. Hendricks. and the new
,,rn il was said will be brought out In an
Mort chiefly to replace the deferred divi-
dsod form. which Ia the policy under which
~. Eouitabls has been enabled to roll up
4. enormous surplus.
Neither State Superintendent OF Insurance
Hendricks nor his deputy, Robert H. Hunter,
ga at the State Insurance Departments Of
ses In this city yesterday, but the announce
rent was made there that no instructions
nd leer received as yet to give the copy Of
,he testimony in the Equitable investigation
n District Attorney Jerome unless he com
plied with the stipulations insisted upon by
nputy Superintendent Hunter in his talk
nth Assistant District Attorney Caravan on
Friday. These stipulations were that the
nstrict Attorney should acknowledge that
Ne ownership Of the copy was vested IN the
State Department of Insurance and he
should promise to return 1t on demand to
Svlt Hendricks.
Surt. Hendricks. it was said yesterday,
has added another man to the force at work
IN the Mutual Life company, making three
| thatare engaged now in the task Of investi-
eating that company's affairs. The in
vestisaion. it was said, was going along
without hitch. The officers Of tile COM
pany. at whose request the estigation
vas started, have, 1t was asserted, been
cooperating in every possible way. and
the State Superintendent may have his
report on the conditions In the Mutual ready
. for publication sooner than he had antic.-
Grated
It will not, however, be out at the ear
lest before October or November. MIR.
Hendricks is handicapped In his work
both in the Equitable and Mutual by a
scarcity, Of men, many Of the employees
u his DEPARTMENT being away on vsca.
vas considering the advisability Of cutting
ii all vacations, but finally decided that
he would not accomplish much in the end
by such course.
Word was received from Buffalo las night
that deed has been filed for record in the
County Clerks office there conveying
o'hs EQUITABLE Life the title to land owned
in Depew The deed was filed by Perry
E Wurst as referee. The deed conveys
al the property owned by the Depew I'm
Novement Company. on which the Equita-
BE made its loan OF $4,000. Foreclosure
Proceedings we're begun in the fall Of 1902,
and the referee sold the property in Febru-
ary.la9 TWAS knocked down to the Equi-
table for s54,275. No statement was forth
coming last night either in Buffalo or in this
city as to why the deed had not been placed
on record before.
Attorney General Mayer is expected in
town to-day. He will hold conference
tomorrow with the lawyers who have
charge Of the Investigate ion now under
way by Chairman Morton's public acount-
ants, and it il expected that within few
days he will he ready to announce the names
81 the directors against whom he will bring
actions to compel a restitution OF the policy
holder. money and force the guilty ones to
'e,ire from the directorate.
A report was circulated in Wall Street
yesterday that Senator Dcpews name
vas connected with several enterprises
n Depew, y, Y, besides the original Derew
Town and Improvement Company, whose
loan Of $3.50 600 from tie Equitable was the
subject Of considerable quest ionine by
Supt Hendricks in his investigation. There
vas, il was sale, the Derew Syndicate. and
The Deerew Syndicate undertook to pur-
chase from the Depew Improvement Com
ranv some Of the land in the residence
ectlon Of he town and to gay for 1t by
suins various obligations, some to he
NId by, the improvement company and
'tne to be sold to tire public. The syndicate
goofit
Officers Of the Depew Realty Company,
Which has Offices at II Broadway, denied
Yesterday that either OF the COMPANIES
mad taken its name from Senator Derew
q that Mr. Derew had anything to do with
them, They said they had been named after
the town. The only interest which the
senator had in the whole Depew enterprise.
mexplained in the Hendricks report, was
,lt n his name by Walter Webb, son Of
D. W. Seward Webb, the money having
teen advanced by Mr.. Webbs bank and
scured by the stock as collateral.
ALBANY July l5.-Gov, Higgins received
,N-day letter from District Attorney
ssrome regarding the Equitable Life AS /,
reply but declined to say for publica-
ION what Mr.; Jerome's letter contained
2 N what he said in his reply. The Governor
WI 60 to O!ean tonight and remain there
hnl Monday.
D,Cady Herrick said tonight that he
ronm accert the Office Of director in the
equitable Lie Assurance Society.
accept this Office said Judge Herrick,
Cleveland