The weekly true Democrat. (Tallahassee, Fla.) 1905-1912, 1905-06-30
PROBE
INTOEQUITABLE
Should District Attorney Jerome
Find Sufficient Grounds.
AFFAIRS REACHING CRISIS
Governor Higgins Offers to Produce
Report of State Insurance Super-
intendent as Evidence.

The regular vacation Of the court
Of general sessions in New York will
be suspended this year so that the
court may he available IL District At.
torney Jerome begins prosecution in
connection with the affairs OF the
Equitable Life Assurance Society. This
action was taken upon the request of
District Attorney Jerome.
District Attorney Jerome, in making
his motion to suspend the courts va
cation, said he had a letter from
Governor Higgins, offering to place
the evidence obtained by the superin-
tendont OF insurance, Hendricks, at
Mr.. Jeromes disposal.
MIR. Jerome added:
at is my desire TO have that evil
dence, and 1t is my intention to so
through 1t very thoroughly.
The widespread attention called to
this matter makes IL mandatory on
me to examine the whole affair
am not in a position TO know whether
there has Teen a violation Of the law,
but 1t is my duty to find out. Before
the governor addressed his letter to
me had the matter under con.
sideration. having sent for a copy OF
the official report OF the investiga-
ton. 1t may be that there is moth
ing in this affair to call for the action
Of this court.
1T is unusual for the governor to
address such a letter as this to the
district attorney, and 1t focuses pub
lie attention pom me. | have made
arrangements with Justice Day OF the
criminal branch Of the supreme court,
and he will continue the June term OF
that court through the summer. The
powers Of both courts can, II neces.
sary, be invoked. 1t will take me
some time to learn whether will need
the assistance Of the courts or not"
Attorney julius NJ Meyer was at
his Office Friday engaged in going
over the proceedings OF the investiga.
ton Of the Equitable Society When
asked how soon he would begin ac-
ton against the Equitable officers
scored in the Hendricks report, Mr.,
Meyer replied;
Action will be taken as soon as It
Is physically possible, and It Will not
be a matter OF weeks, but OF days
Cbly, before we will be ready Not
only have l got TO go over the Hen.
bricks report but the testimony which
preceded that report upon which the
report is based"
He was OF an opinion that separate
action would be taken, one for the
restitution OF the funds wrongfulIy
elected and another for the debarment
proceedings against officers Of the So
ciety. In commenting on this phase
OF the situation, Mr.. Meyer said
This IS a novel action. and II is
the first time in the history OF the
state OF New York where a debarment
proceedings against officials OF insur-
ance companies will have been taken.
Under the insurance law the applIcn.
ton OF which has never yet been
put in practice, the attorney general
has power to debar officers OF an in.
surance company who have been founo
derelict in their duty, and this debar. !
ment not only precludes them from /.
holding positions as officers. but also
debars them from acting as directors
not only IN the company from which
they have been debarred, but from any
other insurance company doing bust.
ness within the confines OF the state.
and the attorney general is the one
to enforce the action"