New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-31
HUGHES CAN'T AID JEROME
Says HIS Duty Is to Investigate IN
sayance. Not to Prosecute.

f~..-,. = unphes counsel to the Legislative
committee which is Investigating insurance CON-
ditions said yesterday that he would not aio
ra.tr1ct Attorney Jerome as special counsel in
any criminal prosecution of guilty insurance Of
Actais In a formal statement, Mr.. Hughes saio
that he did not want people to think he was con-
Quoting the inquiry with a view 10 future con-
vic,ions of the witnesses he was examining
His statement said:
AS was one of Mr.. Jeromes nominators II
Is nroper for me to say that j shall vote TOT M.
Jerome and that | hope he viii be elected, put
I wish TO make it clear that l have no loea OF
taking charge of any criminal prosecution MiiNL
inar grow out OF the pending inquiry mat 10
turthest from my thought. say TINS peeause
/ believe IL would be misfortune III the iuea
were to go abroad that was conducting ,lo ~,
vestiga ton doing my part in H. Win tile ou
ject of making II q preliminary TO a cilii u. 81
trial It should be clearly understood tnal ~ 10
not my function purpose In this llVestisa -.
TO prove men either guilty or innocent OF
crime 1t is my purpose TO elicit the facts uh
sparingly but impartialy. TO be dealt WIN . o.
cord,nr TO their merits. and so far as possioiss
s,o uncover whatever abuses exist. to the enc
that the important business OF NE liisu aie
may be properly safeguarded: ma ma, - the
DUTY and my sole aim. 1t Is essentai "a lot 20,
success Of the investigation that lhis eiiou40 ~
be obecured.
uus.,, rr1,esdaie and John ". Auchih-
Z eioss of the Mutuars prospective 'nVesusa's
committee held a session lasting TOT seAei"-
hours TO find third member of the cornnlittse
30 take the place of bingham B. Morris VINO
will not serve. Informal conferences were Heu
with several of the trustees.
Mr.. TruesdaIe said after the conference that
,oth,nr decisive had been done. Another
-,e.ttnr will be held to-day. at which 1t Is e2-
r.c.ad the third member will be chosen ana
n,.n. discussed for the actual beginning OF the
Investigation. Probably a counsel Tor the coiii-
Yn,tsee will be chosen then
A, the Mutuars offices 1t was denied that
pr..,d.r. Mccurdv intended TO resign. Nothing
was known of proceedings in Ohio courts to put
,ha oor,nanv inio the hands of q receiver.
TIL. Eouitahle Life Assurance Society IN
ye..ee s5 100000 In New York City per cent
bonds Yesterday buying them at par. TINS
4. said 70 be the beginning OF a policy OF IN
veeting the company's money largely IN staLo
Ard local securities. The executive COMMITTEES
snpToyed the purchase at the morning Ileetiiis'
ard the officials carried out its instructions IN
the afternoon. This is one OF the largest ~
vestraent a fduciary institution mas naoe III
local securities. -.
the Equitable. filed through Winthrop q sum
son an answer 10 the suit brought oy the AT
torney General In 1t he denies LOT ninlseiL any
waste or misuse misconyerston of trust funos.
He saws he was director in the society only
from January l. 1905, Immediately before the
outbreak Of the trouble which TOOK the Equ,-
cation by TIE State Superintendent OF lnsur-
ance and a general reorganization. He denies
any knowledge Of the s6s5oo0 loan fund,
which he admits did not appear in full on tho
sccietys account books. Through his own ef-
forts and those of other directors. he says. that
account was paid. Because OF the efforts OF
directors. hs says. the loan TO the Depew I'M
proyen1ent Company was paid also.
A. J. Cassatt and T. Dewitt Cuyler have
Joined fl the demurrer. which many OF the d.
rectors have interposed to the Attorney Gen
erals suit