Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-26
,an ~ "national nrominence."

man of national prominence"
James j. Hill yesterday substantial
ed the fact that he had refused to serve
on the Equitalble's investigating COM
mittee, but would not have 1T believed
that he had refused because it was
dominated by Mr.. Hartman.
Hill Tells Why He Resigned.
'When I was named" he said, Il
notified the other members that my
time was so occupied by other bust
ness that l would not have time to
spare for the investigation, that is,
upon such an investigation as the
policy holders demand
II felt that if l went into this inves-
tigation 1 would want to put my own
experts at checking up the books and
statements, and l told the other mem
bers of the committee this. Unless /
could put on my experts on the books
Of the Equitable, l would not care to
put my signature to any report which
the committee might get up. 1 also
told them that the time would come
when the policy holders would demand
more thorough investigation than the
members of the committee felt they
were called upon to make, under the
terms of the resolution appointing
them.
"No Personal Feelings" Says Hill.
"There was no personal feeling in
the matter. 1 merely believe in doing
things thoroughly or not at all. didn't
think had time to go into any investi-
cation to the bottom.
81 have been a policy holder in the
Equitable thirty years, and I say as
policy holder, that the life insurance
business must be more carefully man
aged
Mr.. Hill also said that as policy
holder he didn't intend either to APP
prove or disapprove the report of any
investigating committee which didn't
go to the bottom of things.
j. G. Vancise, actuary of the Equit-
able, gave out yesterday the socieyt's
reasons for increasing at this time it's
rate on participating policies. The
real purpose of the advance, it has
been said, was a desire to make par
ticipating policies more attractive.
The talk of the Equitable's surplus and
the threatened litigation concerning
the policy holders rights to it, has set
the holders of participating policies
and persons who are thinking of TAX
ing out life insurance thinking lot.
Vancise Explains Advance.
con April 90" says Mr.. Vancise,
I'VE, with other large companies, made
an increase in premiums on non-par-
ticlpating policies, from ~ to 5 per
cent, or an average of per cent. Our
participation policies are only 5
per cent of our total business. The in
crease was arranged for some time
ago, and we have only put our rate
on level with other companies, whose
actuaries had figured out that to make
that class Of policy pay the premiums
must be increa sed."
Gives Free Hand to Sue.
Albany, N. Y, April 26. - Attorney.
General julius N. Mayer last high
referring to the petition filed recent
by Senator Bracket in behalf Of Mary
S. Young of Saratoga, asking the at
torney generals consent to bring an
action against the directors of the
Equitable Life Assurance Society "to
recover funds wasted by them and to
remove such directors said that his
client as a stakeholder in the Equit-
able can bring an action to compel the
officials to account for any funds un-
lawfully diverted by them. The at
torney general declares that he him
self must be prepared to prove the
facts in court before he can sustain
the kind of action which Senator
Bracket asks him to bring.