New-York tribune., 1905-07-16

curious exhibit OF the week has 70 do
with Equitable affairs. Publication being made
in detail OF the testimony taken BY the Insur-
ance Department. Wall Street tuubles into
new hysterta. proclaiming that all faith IN
American financial integrity must now cease.
And under that pressure which manipulation
knows how to exert, security market quotations
were forced downward To dwe1 upon this
recurrent phase OF the financial situation is
nauseouS Nowhere and at no time has there
appeared-even at the worst-any Equirabla
development which has even most remotely
brought into question the towering financial
strength OF the Equitable as an institution
Poor management there has been what the
phrase makers call graft" shows here and
there some officers are revealed as exaItrg
personal opportunity for gains above the cor
pOration's weIfare-aH this Is OF record and
deservedly condemned. But official exposure
shows in not one single instance that Equita5Is
investments have been trnperined shows not
once that Equitable strength has been i'm
paired And-vital is this-what signifies now.
moreover, is that. whatever may have
been the blunders or dereEctions OF the past.
there Is now established a new. progressive.
wholesome management free from al entangIe-
ments OF the past resoIute in the determination
to put the Equitable from this time forward
where deserved public cOnfdence Is bound 70
be maintained
Established henceforth are TO Be "An open
door and a square deaF'-happy phrase OF
George ". Perkins in inspiriting address that
enriched the recent anniversary OF the New
York Life Insurance Company. Now take ths
New York Life for example and Illustration
But few years ago that Institution fell sudden
ly from high public esteem into grave distressez
Of1cial dednQUencies had been exposed. anS the
actual solvency OF the company was in question.
Conditions were sorrier far than any thar havs
been approached in the Equitable disturbance-
for nowhere and in no way has there AT snv
time arisen In the EQuitable situation any doubt
whatsoever of the financial strength OF the com
pany. not one innuendo has been heard touching
its fun ability 70 make good It's every contract
universally there has been decla-aron-evsr
from the most sensational antagonists-that
above and beyond every possible liability and
claim, there are surpluses OF tens and tens OF
millions OF dollars. Only one criticism has been
fairly aimed at the company-its u1anageuent
In details has been lax and some graft assess
nents nave been levied-an terminable-au a.
Said Mr.. Perkins to his New York Life au-
diencs:
we have been hearing a very great deal dur
ING the ast year or two about the Gsstrability
OF publicity In corporate affairs Nine years
ago. when apparently nobody was thinking about
i-when certainly nobody was talking about l.
H0OOta0
as his standard in the management OF this com
pany. and each year for many years has pub
hShed detailed report OF our con- pany's opera
lions. going so far as TO publish In the daily pa
pers schedule OF our assets item by item At
the time we began this We were laughed az and
told II was all nonsense What does the busi-
ness world think OF II to-day? How DO cur
policy holders regard It? OF what value u lt
TO your"
fortunately the Equitable situation progresses
Tar beyond measure by theory. Each day puts
acts on record At the close OF the week Official
announcement Is made OF new members Tor ths
board OF dtrectOrs-and Il Is a record in which
SHINE the very highest regulations known % ths
American business and professional world. n
the race OF trusteeships assumed BY men OF ths
caiore and character OF Nicholas Murray But
Ter, D. Cady HerrtCk. James Mcmahon and
Louis stern, they viii be reckless crit. cs who
aHect any manner OF suspicion whatsoever.
Grover Cleveland. Morgan J. O'Brien and George
Wesunghouse-tn selections like these are
certificates of the thoroughness % the super
vision the high minded determination TO equip
thls trust corporation pTe-eminently Here and
there outcTy still proceeds against every tnsur-
ance corporation. But neither spite malev-
olence nor competitive Sensa tionalism can o1sss
tne splendld progressiveneSs that Is scored
Thomas +. Ryan has been criticised for reti-
eenee under attaek-he answers with superb aS~
SouNolAnfnenE II ALLAWAx4 4