The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-08-06
CONVENTIONAL IRREGULARI
TIES"

| Director Tompkins tells the Char
| lotte Observer that the matter with
the Equitable was really of a per-
sonal nature and related to the per-
men Clyde and Alexander) rather
than to any serious disorganization of
the society's business" He also en-
| liz ntens as by this statement:
THE irregularities which have oc-
Cured seem to have been drifted into,
and / don't think there was any inten-
ton or formulated plan to make mon
ey improperly at the expense of the
society. These unintentional irregu-
larities seem to have been already
practically corrected"
He seems to think lot of illegal re-
bate-giver Morton, the new directors
and the old directors for he says:
81 am sure that the new directors
are fully aware of the serious charac-
ter of this responsibility. l have no
reason to doubt that the old directors
who are left on the board are equally
impressed with the Importance or the
responsibilities they have in this mat
ter In the conversations l had with
Mr. Morton, l was impressed with
what seems to be his appreciation OF
the fact that his duty is first to the
policy holders and last and all the
time to the policyholders."
Director Tompkins takes rosy
view of the past, present and the fu-
ture, and he seems to say in the words
of the opera:
For you are right
And / am right
And all is right as right can be.
If Director Tompkins is right and
there have been only "unintentional
irregularities" the newspapers, the
Legislature of New York, the Attorney
General and District Attorneys ought
to be punished for their libel of these
gentlemen" If the improper and ille-
gal making of money can be called
"unintentional irregularities" why did
Mr.. Alexander return his pile? Why
did Mr. Hyde pay that $685,OOO debt?
Why does the Legislature of New
York investigate "unintentional irreg-
ularities. Why does the Attorney
General proceed against men guilty
only of "unintentional irregularities"
Why has every unsubsidized newspa-
per in New York exposed and de-
nounced the graft and corruption by
the inside management of the Equll-
able? The revelations of rottenneSs
broughtto lighthave startled the Amer
lean public and called for prosecution
and legal investigation. 1t has already
brought forth restitution, and If JUS
tice is done, the New York paper say
some officers or directors will be inn
prisOned.
A portion of the public looked to
see the new directors go into the dl-
rectorate to make radical reformation.
The interview with Mr. Tompkins will
be a distinct disappointment. Ii he
sees in the graft and corruption prac-
ticed by the officials, nothing but "un-
intentional Irregularities no hope can
be entertained that he will lead in any
fight that will so change the methods
as to take the company out of Wall
Street speculation and give the noun
tain-high surplus TO the people. Ii
the other new directors look at the
crimes only as ''unintentional irregu-
lariites," what improvement is to be.
expected?
The truth is that Mr.. Ryan's direc-
tors, announced by Mr.. Cleveland, will
do nothing but stop the graft They
are the same sort of men their pre-
decessors were and things will go on
as before except that they will stop
the stealing and graft and cut down
some of the extravagant expenditures.
Mr.. Ryan and Mr.. Morton are not 60
ing to give up the pull" and power
that the control of fire hundred mil
lion dollars give them. Mr.. Morton IS
a self-confessed violator of the law
against giving rebates. He and Mr..
Ryan and Mr.. Tompkins will not be a
party to graft or dishonesty, but il
they regard past crimes as "uninten-
tional irregularities" no permanent
and radical reform in the interest of
the policy holders may be expected.
ASHEVILLE HONORS HIM.