New-York tribune., 1905-06-24

,nvn.v4ne tho return OF the syndicate pron.s'
- 20 facilitate him in every way a puoho
o..c,aJ ~, the judicial settlement OF the ciaii'
involved
Archibald e. Haynes. OF NO. 20 broeu~ -
,.,,ea his agents before him in the morning anu
,oId them that the Equitabies business hau Deei-
moor since the publication OF the coiipAA'
,roub,ss He said that he knew that many oi
che men could not afford to copunue "i'iioU.
do,,e any business and added that IL amy %
,hen, wished to resign they could 90 SO "i'ii01'
.the slightest hard feeling" on his part no
,or of them promptly handed In their resigna-
tions ,yas
The executive committee. James IL Hyoe,
.,.,--,an mot again for q short time Paui
,ro,o- loft washington for this city last night
..,,s+ T2alnnont said that he had not peeh HI
,,ad that any action has been taken on ms
resignation or letter. and that he hao ho' even
,aceiyed an acknowledgment OF tiie ie''e
Mr. Cleveland r,,,r+,, has
.arobIx,,,an Foelker of Kings county mas
called meeting of policyholders fo1 heN' ae
aav to pass resolutions asking Go'eiiio' aie
gins either to bring the general question: "a -
surance before the extra SESSION VI -
an investigating committee.
In letter he was reported te nave sent "
-,..,-o- HIGGINS he asked for a hearing next
u,oo,, for himself and the policyholders ne rep
week lot AiiiAoSAA N
fesents r, nv
Through Third vice-President WILSON, w. w.
Morton sent cable messages yesteraas ,n+rtes -
Eouitables representatives IN s oIrencv of
feiiing them that the strength aho SUI 49, anr-
- seosetx were not In question, ana lhat siIS
eysls reported in the manageinelt net
uyo,II6 he eradicated entirely in the iht
"oaiu 1h eo 80 Of two names of general otilciaIs
;+sa- deaS or retired being still entered IN lie
sooIety's payroll remains largely p..S .hat
the office of Thomas d. JORDAN IL wos ~, ainna
the controller was still absent, and that ne aAoio
could furnish information asked Tor.
A director of the Equitable who shared In she
syndicate operations said last night:
In NV opinion. the most interesting point at
present in Equitable affairs IS nor te ~ TEST
70 be brought by the Attorney General ~ go 20.
the legality of the much discussed syLuieasss ye -
operations but rather whether an al.eiApI a, s
TO be made TO eliminate altogether lIe $50 80
control of the company. For my part, 90 ho'
see how this is to be accomplished. o,,d
Legislation. OF course. would be SI1 tba
7 l1eiIeva the Governor has handed down tiie
opinion that this is not 8 question Tor the iesls
IatI,re to deal with. The constitution pEotecIs
the rights of property and DO nor - .i,rn td 70
the holders of Equitable stock can De Iorceo "
mart with the same except on terms asreeapie
TO them 1t TO me increolDle that seeps
will be taken to disturb the present uu seeSiilp
of The stock purchased and owned by Thomas
r Ryan. 1 would far rather trust my interest,"
in the Equitable to the ''thieVing. sratufs, uIs
honest directors who at present in control
than to the votes Of 100000 policvholders scat
tered all over the world.
Asked to discuss the suit which the Attorney
General is expected 10 bring against the sharers
in the syndicate operstions. the same director
said:
think the public and the poiicyholders are
tired OF discussing these syndicate transaclos' l
The legality of the operations will soon be de-
cided in the courts The amounts fnVoIVeo are
not large. When 1 entered the deals In which
j had share thought them legal, ana L thlnK
the same now. l gave my personal check Ior
my share, and L am now involved in one OF the
syndicate deals which shows a loss more ina. a
large enough 10 wipe out all the prohts ever
The funds of the Equitable were not used in
these syndicate transactions, as has been SO
often stated. Each member gave a check for
the amount allotted 10 him. and the society did
the same whenever It figured in the deals. 1t
-ras only IN the safest transactions that the
society was q partner, and 1t made handsome
profit In every instance Nothing is heard about
the underwriting operations In whlch "alhes n
HYDE and Associates" sock a loss:
This is easily explained. for the Equitaoie
never figured in these TRANSACTIONS; ana .nes az
not pertinent to the present discussion.
eeems that the members VINO TOOK part
the suite brought by the Attorney General. Not
TO do would be to admit feeling of guilt. 1t
would be like retiring under fire. I would
gladly draw a check for all the profits ever
received to escape the trouble and notoriety,
but make Il matter of principle never to
back down when I feel that in the right
Until I the charge which is brought do
not know what shall do. 1 have no idea what
the other sharers in tho syndicates viii do. I
have not asked a single member. L have not
spoken TO Mr. Hyde the subject AS
said before, think that this phase of the con-
troversy is now dead setter
When asked for opinion on the report that
District Attorney Jerome will bring a criminal
suit, the director said:
do not think this is worth discussing. There
has been nothing criminal in these syndicate
operations. l sure of that
HENDRICKS TO REPLY TO CRITICS,