New-York tribune., 1905-11-26
NAY NEW MUTUAL. HEAD
Plan OF COMMITTEE.
Naming Chairman Considered-J. b.
Forgan Refuses Place.

-he hoard Of trustees Of the Mutual Life In
-snce Company it was learned yesterday. has
80, considering the appointment of chairman
e .,e hoard an Office similar to that which Paul
,t-+on first held in the Equitable An offer of the
.l.oe vas made to J. B. Forgan, 1t is understood,
~ vas refused. Mr.. Forgan, who is president of
+be First National Bank of Chicago was one or
be directors of the Equitable appointed by the
,oo,d of that society TO select chairman, but he
refused 10 serve
The next move in the insurance investigation is
rnrnstakably up to- President John A Mccall
I'D Vice President George W. Perkins of the
Yew-York Life. Both these officers will now have
% exDlan the sub-ceIar syndicate exposed by Mr..
hughes on Friday. This will involve new refer
e,ce 10 Judge" Andrew Hamilton, who received
70 cg as his under cover share of this transac-
lion. Why Mr.. Perkins should have received an
otber item Of $4,000 Boston loan is also re-
naming to be explained.
Unfinished business in the Equitable tangle in
cudes g possible calling of Bainbridge Colby to
tell about the Hyde-Odell-Harrinan controversy.
But unless Mr.. Colby can furnish information of a
kind valuable to the committee from the point of
view of insurance the apparent feeling of the
committee is that there should be undue repeti-
+on Of personal differences. Mr.. Colby returned
10 the city yesterday. When seen by a Tribune
reporter he said
sT have been away on a business trip for a few
5sys. and having finished my business 1 back
and expect to be here all Of next week" When
asked whether he would appear before the in
yestigating committee and if he would talk about
the Hyde-Oden Shipbuilding settlement, Mr.. Colby
said:
y must decline to say anything whatever about
insurance"
The programme for this week includes three
days sessions. beginning tomorrow. George T.
Wilson, Of the Equitable has still to finish testi-
nony regarding that company's foreign business.
Mr. Mccall and Mr.. Perkins will have to tell about
~
Reserve Life has only begun and If this is finished
there is good reason for believing that the Prov-
dent Sayings Life will be the next company exam
investigation committee of the Mutual Life is to
be asked TO tell the committee about its progress
ard plans No such step is contemplated: The
same IS true about the report that J. r Morgan
Of the syndicate operations involves MIR. Morgan,
and il is hard TO see how it can, there is no reason
The report that Mr.. Perkins was to retire from
J. + Morgan q Co: at the end Of the year vas as
fact that il found credence absolutely confrma-
hat sSoi sci slos by Thomas w lawson. Of Boston
who issued pronunciamento declaring that he had
York Life and the Mutual Life. Mr.. Lawson's
and announces hat he has spent sll56oO in his night
10 date. Mr.. Hughes was out of town during the
was no announcement TO make regarding the work
Of the COMMITTEES next week -
conformity with his general plan of putting Equita-
new president had disposed Of its ST. Louis build
ing by leasing it for niney-nne years. thus insur-
ing income more than double that previously
derived from the property. and bringing the
yherefrom up TO 4 per cent on valuation increased
by 900 over that which II formerly paid only
a little more than per cent. When the affairs Of
the PrOvident Savings Life are touched interesting
testimony is expected from Samuel Tate, former
bookkeeper who after leaving the company wrote
letter to State Superinende Hendricks in
which he charged gross misrepresentation in re-
ports. Since that time Mr.. Tate that he has
rot been able 10 find employment IN the insurance
world.
II was widely reported yesterday that the delays
and difficulties that the committee which ap
pointed by the Mutual directors investigate its
affairs have encountered have resulted in
strained situation. Out OF this. Il reported in
the financial district, surprising developments were
not unlikely this week. The illness which has
hitherto prevented President Richard A McCurdy
from appearing before the committee has been
one of the circumstances that has materially
ufbuted TO the present situation.
There were no definite details Of this difficulty
. be learned yesterday but prophecies of exciting
deyelopments were heard on many sides James b.
Dill, counsel TO the committee has been out OF
The city for several days StIJyvesant Fish, VINO
is president of the committee also out OF the