New-York tribune., 1905-08-04
NAY REDUCE SURPLUS.
NEW FIND IN EQUITABLE.
Exports Say Real Estate Has Been
Largely Ouer VaLucd.


paul Morton. have found extensive generalization
both in the real estate owned by the society and
IN the real estate on which the Equitable has
losned money. The society owns in this country
snd abroad real estate valued at approximately
sssoeoOe0. il said last night that this
.nount viii have 10 be reduced to sos 600 600
uhfe the valuation of parcels on which over
sSn 600 o0o has been loaned may have to be re-
s,ced hy al least 10 per cent
When these facts were laid before Mr.. Nor
,or yesterday he determined 10 appoint two ex-
merits who will value every piece of real estate
in which the society has an interest and deter
mine the proper valuation A reduction of valua
ton of the society's real estate would mean
great corresponding reduction in the $4,000 600
surplus
The last annual report of the Equitable to the
state Insuance Department gave the value Of
real esate owned by the SOCIETY at S36. .S95. .647.
OF this sum buildings occupied by the society in
New-York. Boston. st. Louis, Des Moines. Den
Yer, Memphis and in Paris France: Madrid.
spain' Vienna. Austria: Berlin. Prussia; San
rago Chill; City of Mexico; Sydney. New South
Wales, and Melbourne, Australia. are stated TO
he worth S3l,373.150. while buildings in New
York City. Jersey City. Milford. N ": West
Orange. Piscataway. Bayonne and Bergen
Point, y. J.. are valued at over S5.jo0O00
The Lawyers Title Insurance Company. in
which Hyde, George Squire. Mcintyre and Jor-
dan are directors. and the Lawyers Mortgage
Company, in which Hyde, Mcintyre and Krech
are directors. examined most of the titles. and
ii Is said certified to the valuations
HUGHES MAY BE COUNSEL.
Charles z. Hughes. counsel 10 the recent legis-
lstiye gas investigation committee. seemed last
night most likely 10 be the choice for counsel To
the legislative insurance investigation committee
The fed Of available counsel has been mar
roEed down 70 the bar Of greater New-York
Il is unlikely however, that any name viii be
decided on for at least another week.
Meanwhile the subcommittee. in Senator
Ar-nstrong's phrase. continues it's hand pick
Ing" Of available men Mr. Hughes is in Eu-
rope e. present. and had planned to remain
shrosd until September 1. Partly as a friend
and classnlate Of Assemblymaa Rogers. but
rarity also 70 furnish information as TO Mr.
Hughes's engagements. etc, George W. Schur-
man, the law partner of Mr. Hughes. attended
last nights session Of the committee at the
Murray Hill Hotel After explaining Mr.
schur1nans attendance as partly due 10 the
social reason cited. Senator Armstrong last
night added:
Of course asked him something Of M
Hughess engagements. as Mr.. Hughes owing
70 his handling Of the gas Investigation, is a
1svortts with the committee"
The list of names under consideration by the
subcommittee includes also. it is understood,
Eugene a Philbin and Assistant District Attor-
nsy Rand.
MANY LAwyERs NOT AVAILABLE.
TIE subcommittee learned With surprise that
the institution ~ the Attorney Generals suit
against the individual directors Of the Equitab,s
who held Office at the time the expose began
ha6 elir1ir7stc5 +ta
able counsel In speaking Of this phase of the
case, Senator Tully said that every one Of the
old directors Of the Equitable named as de-
fsndants in the Mayer suit had employed eoun-
Eel-to defend him, leaving few available lawyers
free for the committee
Mr. Hughes himself was employed as asso-
ciats counsel for the Equitable at one time in
The recent upheaval. but his connection or form
er connection was apparently not considered by
The committee a bar 10 his selection
Atter dinner conference" followed by a
night session Of the committee, Senator ARM
strong, the chairman. made the following states
ment:
The committee has confidence that it can OBJ
an from the bar Of greater New-York A man
suInclently able and free from entangIements to
serve as its counsel
Who the man viii be I cannot say we are
severely handicapped by the fact that many men
otherwise available have already been retired b,-
Ie men fsIileC IN Attorney General Mayors
sut against the Equitable. Probably no final
selection or announcement viii be made until
ne latter part OF next week. We are going 10
rave the best man can find man absolutely
sne, capable and loyal 10 the State. man who
Wiz have no embarrassing entanglenents and
vii not he reachsble by any consideration
cai. political, financial or otherwise.
Senator Armstrong would say nothing as to
"hether Assistant District Attorney Rand was
Under considerations He would make com
ment on Mr. PhiIbins visit to the William-st.
oalee of Attorney General Mayer while com
nitteemen we're in informal conference there.
The Senator added that the committee would
20 INTO recess for several days most Of the mem
ners leaving town tonight although the sub
committee, consisting OF Senator TuIly. Assem-
'Fman Rogers and himself would probably re-
main and continue the hand picking process
iH the mean time.
Mr. Rsnds friends, in speaking or his quail
hcalons for the position, says he is about 10
retire from the District Attorneys office to re-
sumo Private practice. They declare that he
~O9a make good inquistor and would have
assistance Of District Attorney Jerome.
resident Morton yesterday announced the ap-
''"lfAent OF A r. Cordner manager in
-al e o. the Equitable Office At Broad-st. and
,Athatse Place. 10 succeed Archibald c.
mes VINO vas recently dismissed. Mr.. Cord
"Hi work On salary, and not on commits
'i Il. y Hobbs the cashier of the office, is
o'lso. Alr. Morton also announced that the
Vim qAen Offices iu John-st. have been closed. and
"i'' 5e abandoned
NIX MOODY PRAISES Mr.. DAY.