New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-06

plan OF the committee Of seven is awaiting de-
cisive action. The second plan, with the further
concessions made by Mr.. Hyde in answer TO the
crimusns committees objections. is in a further
set OF amendments.
=. II. Hartman issued formal statement In
contradiction OF various reports concerning him
and loans made to him by the Equitable Life
Assurance Society. In Il Mr.. Hartman
stated that ne had caused his books to
be examined for nearly four years back
and found that there were no transac-
tons between himself and the Equitable Society
other than one loan. which loan paid be-
cause he was not willing TO pay the rate Of in
terest required by the society. AS to the com
psnies in which ne is interested, Mr.. Hartman
stated that he had recollection. nor does he
believe. that there was any financial transa ction
between the society and those companies. either
directly or indirectly, nor has any sale of Sc
curities been made by any Of those companies
ciety becoming interested therein. Mr.. Harri-
man stated that the loan in question was paid
off more than year ago
Mr.. Hartman stated that during the two
months prior to the brOaching of the mutualiza-
ton plan. the attention of none of the trustees.
so far as he knew. had been called to the diff
culties which must have existed long before
Jacob H. schiff. Of Kuhn. Loeb & Co. has not
resigned from the finance committee of the
Equitable, but has not attended the committee
meetings recently. He said that he had IN
tended TO leave the city Tor q DrleI MONDAY, Out
had delayed his departure TO attend the special
meeting Of the Equitable directors.
Senator Depew declared he was going TO
the meeting Of the executive committee yester-
day that certain reports that he was getting a
large salary from the Equitable were just
jokes"
That's all joke he laughed. The man
who says all that must know just what l draw
in directors fees"
STATEMENT BY CRIMMINs COMMITTEE.
The Crimmins pOlicyholders' committee. by
John D. Crimmins Henry Morgenthau, E. H.
Outerbridge, f. W. Bloomingdale. Charles Bulk
ley HubbeIi and f. ]. Esselstyn. secretary. is
sued last night an Official statement of its
proceedings. In it it explained how Mr.. Alex
andeT's lawyers. after asserting to the second
plan OF naturalization. to which Mr.. Hydes
lawyers had also consented, left the meeting
before Superintendent Hendricks. and later tele-
phoned that they could not bind their clients to
the proposal of the policyhOlders committee.
The specific point TO which they had objected
clause limiting any further amendments
to the charter to the consent Of three-ffths Of
the Equitable's stock.
It had been pointed out by the lawyers for the
stock interests. in which Mr.. Hyde chief.
that unless this clause was inserted it would be
possible for the directors, when the poicyhold-
ers should be in control Of the board, TO put
through amendments which would destroy en-
tirely the stockholders rights Inc committee
saw the Justice OF this argument and consented
TO this clause. The Alexander lawyers had pre-
Viously consented to the entire demands of the
policyholders' committee, containing this clause
on which Mr. Hydes lawyers insisted. Yet
when they were asked about this over the tele
phone by the committeeman they answered, ac-
cOrding to this report Of the committee that
they had decided not to commit their clients
one way or the other TO the withdrawal from
the demands Of said clause"
The statement OF the committee tells of the
original decision that nothing save immediate
naturalization Of the company would serve, and
the subsequent belief. induced bv many meetings
OF the committee and conferences with officials
and directors, that % out of the 30 directors
would be enough for the safety of the policy
holders. So the committee ratified the action Of
eight directors be elected at once Later this
demand was modified to contemplate their cleo
ton before the end Of 1906 but an additional
demand was inserted that four places on the
executive committee should go TO the policy
holders