New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-07-29
A. c. HAYNES DISMISSED.
HAD ATTACKED TARBELL.
The Equitable's Revised Pension
List Made Public.


Because he was 'Insubordinate" and refused
to stop criticising the management of the
Equitable Life Assurance Society and the meth
DDS in the agency department. Archibald T.
Haynes the largest writer of insurance among
the Equitables general agents, was dismissed
summarily by Paul Morton yesterday. Mr..
Haynes in the last few days has been making
caustic comments about Mr.. Morton and Gage
E. Tarbell, second vice president. who is mead
of the agency department.
Mr.. Haynes resigned from the Equitable on
July s. his resignation to take effect on De-
cember 81. His campaign against Mr. TaroeH
and Mr.. Morton was conducted partly with tho
hope that it would goad the new president into
dismissing him, some of the agents say as IN
that case he could go with some other company
Immediately without sacrificing his renewal
commissions. His notice of dismissal was con-
veyed to Mr.. Haynes in the following letter.
dated July % and signed by Paul Morton as
president of the society:
You are hereby notified that the agreement
made between the Equitable Life Assurance So
ciety of the United States and yourself, oateo
December Is. 1899. together with all agreements
to. is hereby terminated forthwith. without
prejudice to any claims which the society may
now or at any future time. have against you
MR.. HAYNEss DEBTS.
Harry W, Hobbs. Mr. Haynes's cashier, has
taken charge of the Haynes agency, by Mir. Nor
toms orders William Taylor, supervisor OF
agencies is auditing Mr.. Haynes's books. the
question of advances is one in which the Eoul-
table is much interested At present Mr.. Haynes
owes tho society between 100000 and SSO0OOO
for advances for which his renewal commas
sions are pledged as security. These commits
sions. he has said. will pay off the debt IN ABOUT
Ave years.
Mr. HAYNES refused absolutely to discuss his
d,sroissal hut it IS expected that in few days
be will have something TO say Immediately
after his resignation Mr.. Haynes and Mr.. Tar
hall hecame allies in a mutual advancement
zchero. according to some OF the agents. MI
Iarbeu wished to become president or nrst VICE
president of the Equitable Mr. Haynes desired
70 succeed Mr.. Tarben. They hoped to bring
n,ucb measure in their favor through the
agency force
This plan, however, apparently nhscarTieu'
and Mr. Haynes began to criticize the new man
srepnent and Mr.. Tarben. his chief, at meetings
OF his soliciting agents. These CRITICISMS culnll-
mated at a. meeting on Tuesday, when he ac-
oused Mr.. Tarben of breaking promises, and
.5r,sa5 his men TO care for their own interests
a., nrAference to those OF Mr.. Tarbell and the
Equitable.
For this advice he was called tc account next
dav by Mr. Morton. and in the discussion as TO
the condition of business he told Mr.. Morton
various things which did not agree with MT
Tarbelrs statements. He analysed the financial
report which had been read to the directors at
their meeting that day, SO as to show from his
own business that many of the figures were
misleading, he says. Mr.. Morton. 1t is said. is
making an investigation as to the agency de-
partment, it's methods and the amount of busi-
for I'm fha n business
written.
THE PENSION LIST.
The pension list OF the Equitable. as revised by
Mr.. Morton. made public yesterday. The
pension committee appointed at the directors
meeting is not through its work yet. it was
learned 1t will consider the general subject of
pensioning employees. and probably will work
out a system by which the employees will receive
a certain percentage of their salaries in pro-
portion to the length of service. The list
as follows:
w. G. Hoagland. $500 per annum; T ]. De-
Gray, $500 per annum; c. A. Hillyer, S720 per
aunum; F. Sellen, 1000 per annum: r. G. Lam
bert, 81 200 per annum; w. A. Rowland. 81. 400
per annum; T. H. Cunmins, 81, 800 per annum;
clerks some of whom yet subject TO duty.
]. Stahl, $500 per annum. formerly in charge
of the foreign agency department; still subject
w Holiday. $4,000 per annum. formerly
mathematician and statistician.
w H Bridgman, 81. 500 per annum, Of the
agency department; subject TO call.
w P Halsted, So, 600 per annum head Of the
department of incoming letters; retired.
Mrs S. Romans. $4,000 per annum, widow OF
a former actuary.
]. B. Loring, $500 per annum former regis
trar and head of securities department.
Mrs s. Borrowe. $1,000 per annum, widow of
a second vce-president
Miss E. E. Hallett, $4,000 per annum sister OF
F. c. Hallett, chief of securities department.
This amount was half of Mr.. Hallett's yearly
salary He died in the middle Of a year and
the board voted this payment to his sister
Edward Curtis NJ D.. $500.
The loss OF business in July it was said
Yesterday by n agent, would amount 10 about
100000. The loss to the society since the
trouble began. he estimated. was about S25.-
100000 The lapses OF policies now are almost
unprecedented, he says. large percentage Of
those taking out policies in the last year having
allowed them TO drop. II the lapses continued
at that rate for the rest of the year he said
that the business of the Equitable would show
a falling off Of from $50O0000O TO S75OOOOOO