The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-10
HENDRICKS READY FOR QUIZ.
HERE TO QUESTION EQUITABLE
OFFICERS AND bIRECTORS.

state superintendent VIM Have Them
PerSinaIlY Before Him-Interested In
Outside Salaries Hyde Has ReceIved
-SchiL's Firm Called on for Figures.
State Superintendent Of Insurance Fran
els Hendricks arrived In town yesterday and
completed preparations for the oral exami-
nation Of officers and directors Of the Equit-
able Life Assurance ,ciety which win be
carried on under his personal direction With
Mr.. Hendricks came Congressman NJ. z.
Driscoll Of Syracuse, who has been enga ged
by Supt. Hendricks to question the men.
Supt. Hendricks will examine not only
the Officers and dire c.oB who have been
directly accused, but every director who
holds otice solely by reason Of the transfer
TO him Of stock by James Hazen Hyde or
his father, Henry B. Hyde. Thirty eight OF
the fifty directors qualified In this way.
There will be nothing compulsory about
the proceeding, but inasmuch as a refusal
to answer would be regarded by the Super
intendent as a practical admission Of guilt
II IL not anticipated that there will be any
difficulty.
The examination will probably take plsoe
In the board room Of the Equitable Building.
II will last about a week, and will, Of course,
be carried on with as great secrecy as the
other parts Of the States examination into
the society's affairs.
Supt Hendricks and his men are at present
engaged in investigating the matter Of the
salaries which Mr., Hyde receives from the
Equitable and it's subsidiary companies,
the Equitable and the Mercantile trust com
panies. Mr.. Hyde's salary as vice-president
Of the Equitable Life, il was said yesterday.
was at one tins considerably less than 3lOO, =
600 year, the amount which he receives
now.
The present figures. IL was asserted. were
fixed by a o. mmittee Of the board Of direc-
tors appointed for the purpose. This COM
mittee was made up Of senator Chauncey
NJ, Depew and Valentine p. Snyder.
But what interests Supt Hendricks Is
most that Mr.. Hyde while receiving tlo0-
900 a year is practically charging the policy
holders Sl2,5OO more for representing them
in the Mercantile Trust Company and SIC, 600
Tor representing them in the Equitable
Trust.
The Frick investigating committee has
called upon Kuhn, Loeb d Co. for a detailc
statement Of the transactions which the
hrm has had with the Equitable society
The Sun told some time ago that certain
persons for purposes Of their own were in
tending 20 push MIR. Schff for the Msyoralty
nomination reGt fall. These persons. in
GLIDING G, II. Hartman and Chairman
OdelI, accOrdtr & TO the statement Of a man
cloee to the Equitable situation, are dis
turbed now because they cannot see how
MIR. Schih can be regarded longer as
possibility.
Several directors Of the Equitable, in
view Of the persistent reports that have
been circulated II regard to the Dustin Of
Alexsr der ard Hyde, called stter ton TO
the fact yesterday that there Is roth ir & in
the charter or bylaws that would waITaT
the board Of directors dismissi~g an ex-
ecutive officer except on proved charges
for which the officer could be legally prose-
outed. Should such charges Re made ar
sustai- ed by the board. the state Super
then step in and remove the offending
officer.
The opi- ion expressed yesterday by
these directors WIS that reither Mr.. Alex-
a0der ror Mr.. HYDE had 49, vet gore far,
enough IN werTa-t cNcr~ns OF tEet sort -.--
Counsel for the Equitable yesterday sub
nitted TO Justice Maddox In the Supreme
Court IN Brooklyn their final brief In the
Lord injunction suit. In II they deny
again that President Alexander has acted
disloyally toward the HYDE trust estate
and declare that President AIexander's
efforts for naturalization have been inspired
solely in the interest Of the society and the
polioyholders.
1t was announced yesterday that applca-
ton would be made to-day by counsel for
Mr.. Hyde 10 Justice Bischoff in the Supreme
Court 70 vacate the order obtained by A.
Edward Woodruff for a preliminary exami-
nation OF President Alexander and Vice
President HYDE in regard TO the dummy
directors. The examination, unless the
order Is vacated, will take place In the
SuDreme Court tO-mOrrOw