The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-23
TO START EQUITABLE SUITS.
ATTORNEY-GENERAL TAKES A
HAND-.JEROME INTERESTED.
Mayer says He'll Not Only Compel Rest.
tuition and Debar Guilty Officers. but
Seek to Establish the Rights OF
PolicyhO,ders-NIr. belmont Resigns.

At1OTnty-bt'Iltldi yVi lci" i4''' ''''''
Washington last night and gave out this
statement OF his plans for action in the
Equitable trouble
Primarily believe that an official should
not predict what he will do Performances
is preferable to promise. 1t Is manifest,
however, that the people throughout the
whole country are profoundly Interested
IN the affairs of the Equitable society.
Therefore | think it fitting to say that
appropriate steps will be speedily taken
by ne (D to accomplish the return to the
EQUITABLE society Of any profits wrong
fully taken or retained by reason of trust
relations or otherwise. (2) to debar from
holding Office in this company any person
who has been faithless to his trust or
VINO has violated any provision OF the law
md, (3, to obtain an accounting ior any
waste or misapplication OF funds for any
reason or by anybody.
There are certain other matters OF I'M
rortance which am studying, but to which
/. would be premature to refer In detail at
this time. 1t might, for instance, he to
,he interest of the polioyholderS to learn
the character OF and occasion for some OF
the lcrpl services paid for during the last
few years.
But above all inquiries as to alleged de-
Hnouencies, the greatest necessity OF the
situation is that the rights of the policy
boIders in all respects should be ascer-
tanned clearly and completely and as quickly
a. is legally possible. In This and other
,ort;oulors | shall try my best 10 attain
results.
When Mr.. Mayer was informed that
District Attorney Jerome had written 10
Gov. Higgins for a copy OF the report mace
Nv Supt. Hendricks and was asked II he
thought that the District Attorney was
considering criminal proceedings Mr.
Nlayer answered that that que>Lon was
for MIR Jerome to decide. MIR, Mayer pointed
cut that the Attorney General OF the state
lad no power to start criminal proceedings
and that the Attorney Generals Office could
only take charge Of criminal prosecutions
when it had been shown that the local
rrosecuting officials had failed to do their
duty.
Mr.. Mayer will remain in New YORK until
tomorrow for the purpose OF gathering in
formation. He will spend the whole OF
to-day at the New York Office of the At
torney.Genera' Department at 81 William
street
Gov. Higgins sent yesterday to District
Attorney jerome a copy of the report of
State Superintendent of Insurance Francis
Hendricks and accompanied it with this
letter
DEAR SIR ] herewith enclose for your
consideration a copy OF the preliminary
report of the Superintendent oil lhsurahc"
upon the afrcirs OF the Equitable Life a.
surance Society o: New York. The findings
get forth in the report are based on evidence
taken by the Superintendent under the
insurance law. IF in your judgment any
OF the alleged facts established by legal
evidence would constitute criminal mis-
conduct in the county of New York on the
rart of any person. ! will if YOU desire,
request the Superintendent to submit to
you the evidence taken before him. Yours
truly FRANK W. H1GdINs."
Mr. Jerome had already shown his interest
In the report by teegraphing to Supt.
Hendricks for a copy. He received it late
yesterday afternoon and took it home with
him last night
Il haven't read it,, he said, "and until
have there will be nothing to say
Mr.. Hyde and his advisers as well as
others hit in the report yesterday refused
to comment on the announcement that
District Attorney jerome is examining the
Hendricks findings 1t is known, how
ever, that Mr.. Hyde, ever since the present
controversy began in the society, has had
q well known criminal lawyer on his staff
OF advisers
Following the publication Of the report
came the announcement that August Be-!
ko, lirn,tor fft tho
ciety Mr. Belmont has sent his resigna-
ton to Grover Cleveland. chairman of the
board of trustees, to be acted upon at MIR.
(1evelands discretion Mr., Belmont him
self had no comment to make on his letter
to the ex-President, but persons close to
him said that he had been prompted to get
out because he thought that the new trustees
ought to have an absolutely free hand in
selecting the new board of directors.
If they should designate him as one of
the new board he would. it was said prob
ably serve. but having been qualified
through five shares Of the Hyde stock
which we're transferred to his name. he
did not feel that he ought longer to retain
his seat unless the trustees desired him.
Mr. Belmont's retirement, it was pre-
dicted yesterday. was the forerunner of
many others. Eventually, 1t was said, all OF
The forty dummy" directors as named in
Supt. Hendricks's report will either get out
or submit their designations to the trustees
to Re acted upon at their discretion Fiji
teen OF the men who qualified through
holding stock in escrow, counting Mr.. Bel
mont, have now retired from the board
The Hendricks report was a crushing
blow to the Hyde faction in the Equitable.
Neither Mr.. Hyde nor his advisers would
comment on it. Some OF Mr.. Hydc's friends
attempted, however, to express Mr.. Hyde's
opinions regarding the document and
Mr. Hyde promptly had this statement
sent out:
Mr. Hyde and his advisers wanted it
understood that certain matters published
In the afternoon papers as representing
the views of Mr.. Hyde on the Superinten-
cents report were wholly unauthorized,
and that neither Mr.. Hyde nor his advisers
had any comment whatever to mako on
the report, As the matter might become
the subject OF legal controversy hereafter
Mr. Hyde preferred to try the questions
In the courts rather than in the newspapers.
1t is said that while Mr.. Hyde was deeply
rrieved that tho Superintendent should
have seen fit to drag into the controversy
a transaction rclatin1 IN the sefo feDOSit