The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-25
ALEXANDER GIVES UP $4,000.
YIELDS CLAIM TO EQUITABLE
SYNDICATE PROFITS.
ADAO 900 Was In the Hands OF Cashier Muir.
ray. and His son Sends S2S 900 More
to MOrtOn-Lattcr Ready to Work With
Mayer and Jer Ome-J. II. Hyds's Denial

{ Chairman Paul Morton Of the Equitable
y returned from Washington yesterday ano
after a dozen consultations with important
men the authoritative announcement was
made that he ia to work with Attorney
General Mayer and District Attorney Jerome
in the efforts to bring officers and directors
OF the OLD regime to justice
Chairman Morton, it was announced
in confirmation Of the official statement
in THE Sun on Wednesday, is to continue
to investigate remorseessly and without
regard to political, legal, personal or sociaI
Affiliations the channels through "hlch
the funds of the society ha We been diverted
from the poicyholders, and Attorney-ueh-
eral Mayer and District Attorney jerome
are to pursue the individuals VINO were
responsible for this diversion.
In other words there are now two hunts
In full cry Chairman Morton is determined
to recover for the benefit OF the policy
holders the diverted funds, and Attorney
General Mayer and District Attorney DE-
rome are to take cognizance OF the civil and
criminal prosecutions. This makes three
separate and distinct pursuits and among
them all, the utmost success is anticipated
1t is not too much to say, it was declared,
that from information received In the last
three days from all parts OF the United
States and Europe the policyholders OF
the Equitable are aghast at the develop
ments Of the Hendricks report and that the
bittereet utteranoes expressing the deepest
anger, have poured in against officers and
directors OF the old regime who were either
principals in looting the treasury OF the
society or who supinely sat by and lifted
no voice Of protest
The statement that the Attorney-Gensral
rs to bring suits for an accounting against
Chauncey NJ. Depew and David b. Hill as
lawyers who have received retalners from
tho Equitable society was authoritativcly
pronounced to be absurd.
The Hendricks report shows that the
society paid to New York city attorneys
during the last six years total of sos, 100
as follows: Alexander d Green. $l71, 200;
Alexander 4 Colby, s,28,ooO; c. NJ Depew,
4l2OOOO;. c. b. Alexander. $4,000; ID. B.
Hill, $32, 500 and Elihn Root. $50. COO. Attor
ney- General Mayer. it was also announced.
recognizes the services and abilities of all
the lawyers mentioned-as lawyers and
there is no truth in the assertion that he
Is to bring suits against either Mr. Depew
or Mr.. Hill Senator Depew, at the same
time, ia severely criticized for the methods
he adopted in securing an increase in the
salaries of James ". Alexander and james
H. Hyde.
Henry NJ. Alexander, acting for his father,
the former president Of the society, notified
Acknowledgement Mayer yesterday that all
claim to the SAC, 700. "a which MIR. Alexander
had deposited with the society's cashier as
representing profits on two of the Hyde I'M
derwriting synolicates had been relinquished
In favor Of the society and that another
check, for s?5 %, covering the profits
made by the president in the other trans
actions criticized by Supt. Hendricks. with
interest. had been forwarded to Chairman
Paul Morton. Accompanying Mr. Alex
ander's letter to the Attorney General was
this letter written to Mr.. Norton
June "a. 1905
paul Morton. Esq; Chairman Equitable
Lie Assurance Society, Nep York.
check for s25,053,22, to the order of the
Equitab Bile Life Assurance Society being the
amount of seven checks received by James
W. Alexander upon the dates given below,
together with interest thereon a per cent
to date.
These are the amounts referred to in the
preliminary report of Supt. Hendricks, at
page 50 and following pages.
The total Is made up as follows
Of aoo2 ....,.,. a.sal.ss
%eo.bonds aad Long Island r. Ii. "a
bonds syndica,e ,.'.......'.' 2es2e.
Interest from April 80 1904 ......-.., POS 81
mortgage 80 goa bonds syndicate siso7s
Norfoikaud%es,ern dlyision.Lorst Hen and ''o''
general mort gage go bonds, syndicate $4,000
Interest IRON Oct ~. 1909 ....'...... 75l8
Imperial Japanese Government go sterling
loan:
First syndicate ............., seo4 4s
Second syndicate : ............,.. 2a3s6a
Atchison- Topeka aud Santa re AZ general
dchenture bonds. syndicate ,.94oo
Interest from Feb. L. 1902. 48i.41
Total $3.50 sa2a
The amounts referred to on pages "a
and 81:
40 year gold bonds. ssndiett tsa ,l25ss7s
and impcrallapanese Government co. stcr
ling foan tsceond scrcsl syndicate. % 2GS 81
Making total. ..,..,........ ,ao7so54
were deposited by him on Feb l. 1905, with
the cashier of the society, NJ. Murray, az
trustee, Immediately after the receipt
thereof and an Investigation into the facts.
This letter may be treated as an AUTHORIZE
tion to Mr.. Murray to turn the amount
over to the Equitable Life Assurance
Society.
Il am writing this letter owing to the
illness Of my father, James W. Alex
ander but in doing so am carrying out
his views expressed in january last and
since maintained. Yours truly.
H. NJ. ALEXANDER
The total amount OF the syndicate profits
returned by Mr.. Alexander is s85 's,3, IA.
Mr. Hyde deposited as the profits from
syndicate transactions, with interest. ssa
23s5l. Mr. Mayer had no comment to make
on the Alexander communication but he
believes that it will he of value az establish
ing precedent which other directors nav
follow.
When Chairman Morton was asked about
the salaries alleged to have been paid To
men no longer connected with the society
he said that his information on the matter
was as follows
@Dr. +. w. Lambert was the first medical
director Of the Equitable. He died on ,July
II, 1904, having served for forty-five years az
chief medical director. His salary was
$25 900 per annum. and was continued and
paid to his widow up to and including
December. 1904, since which time nothing
has been paid.
"Dr. Edward Curtis was elected medical
director in September, 1875, and was retired
In February. 1904 on account of a stroke of
paralysis, but with the understanding that
the society could avail itself of his services
as consulting peJicol diraotor Ae ,,,l;.,I