New-York tribune., 1905-08-02
TARBELL ON EQUITABLE.
MAY TAKE HYDES PLACE.
Soc'etys Business SAID To b.
Helped by Houseclenning.

Friends of Gage F. Tsrbell declared yesterday
that he was the logical successor TO James H.
HYDE as first vce-presdent OF the Equitable.
They added that he would not be content with
superior officer other than President Morton and
that any attempt 10 appoint first vice-pres-
dent other than himself would mark the be-
ginning of further internal dissenson.
Senator William W. Armstrong and the rest
of the legislative committee which will probe
life insurance business in this State, are ex-
pected here this morning. While speculation
was rife last night TO the counsel be de-
cided on. names were Forthcoming from any
authoritative source.
In a statement issued yesterday for the first
time in month.'Mr. Tarben announced that
the conventions of general agents would be
sumed in September, and that President Nor
ton himself would attend most, If not ALL of
them. Mr.. Tarbell optimistic regarding
general Equitable conditions He said he ex-
pected to make July million dollar month
His statement was in part follows:
July has been another month of great
changes and great progress. Thirteen new di-
rectors were added to board of directors
on nomination of the trustees making twenty
two new directors, all recently chosen from
among our policyholders. They all of
! high character and standing and already have
| manifested their deep interest in the welfare
of the society
From the field come reports Of the most en-
couraging nature. letter received from the
manager of one of our largest agencies just
week ago, said: We got Saturday twenty-five
applications, for sss.35o. We forward to-day
| thrty-fve applications for s1s4,300 have
not felt so optimistic prospects for fail
business for months"
One of our general agents in this city OBJ
tanned an application for a quarter of million
only few days ago. Another had the good
fortune TO close $4,000 in applications on July
70. There are many other Instances of splendid
results obtained that | could mention. But I
want to call your attention to an incident of
a different kind. One of our representatives
sold $4,000 annuity TO a gentleman in this
city last February. just before the newspapers
came out with Equitable difficulties in faring
headlines. The purchaser was badly frightened:
thought he had put his money in a hole and
would never get anything out of it, The agent
Gained his fears and advised him TO wait and
watch. He has waited and watched for months.
following all developments with intense interest
A few days ago he called the agent to the tele-
phone and said: We'll ! am perfectly satisfied
more than satisfed-with the Equitable. To
withstand such onslaught from all sides as
| it has done and TO come out practically
| harmed is marvellous. You may think you have
| been unfortunate in your troubles but if
mistake not they will prove to be the stepping
stones 10 your fortune"
The Equitable has lost some old associations
but it is like tree that has been pruned; the
| trunk is there. solid and strong; the useless
| branches and those growing out of harmony
| with the tree have been off. and the one
and inevitable result will be that the tree will
| grow stronger and bigger and more beautiful
| than ever before. 1t is the law of life. AS
| compared with the total assets OF the Equitable
| the amount that has been diverted to question
| able uses was very SMALL and the semi annual
| statement submitted by President Morton at
| the last board meeting shows a condition of
| which we may all be more than proud.
Mr.. Tarbe then cited several of the large
| items in that report. and supplied the premium
payment and other figures which apparently had
| been omitted In Mr. Mortons statement after
| that meeting. Mr.. Tarbels figures follow:
| Premiums-First half of 1904. S2S, 800, ,415 O6
first half of 1905. s29977 057 "a; increase, 1905
| S, ,073,G42 IS
Interest-First half of 1904 s6.G15, 100 "A; first
half of 1905. s7442, 397 81: increase for 1905
1897, ,1sS %
Rents-First half of 1904. Ssa3. .721 IS; first
half of 1905. ss91421 q; increase for 1905, So
705 So
After referring TO the verifcation 10y Mr. Nor
| tons expert accountants of the securities of the
society and President Morton's statement that
| his retrenchments already made would result in
a saving of more than $4,000 annually, Mr.
| Tarbell said
The advantage of housecleaning is known in
| every family. The more thorough the cleaning
| the better. house is never so clean as Just
| after housecleaning. This is equally true of a
| corporation. You sorry there was SO much
| dust but glad to get it out. To cling to the
| past that has deceived is weakness To make
| the most of the present, no matter what the cir
| Cumstances, is strength.
Friends Of Jacob II. Schir Yesterday dis
avowed any knowledge of a statement to be
given out, reported. by Mr.. Schiff through
ex-Judge Alton r. Parker regarding certain
| phases of the Equitable situation. Mr Schiff
! was at Bar Harbor, Me. and ex-Judge Parker
was absent from his law office It was under
stood that any statement would he issued
| through Mr. Schiff's New-York LAWYER
| Senator Chauncey NJ. Depew paid a visit Ia
| the Equitable Building, but did not see Presi-
| dent Morton The Senator is living out of town
| A rumor was in circulation yesterday that GER
tain large policyholders in this State are Ia king
| exceptions President Morton's reported salary
of $4,000. No one seemed willing 10 vouch for
this rumor. however