The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-03

oOo policyholders engages In very seriously
il-advised financial operations when It
either buys or lends on railroad stocks
which are affected in value by almost the
very wind that blows The fluctuations in
railroad stocks, even tho very best Of them,
are subject, it was added. 70 the most un-
foreseen inhuenoes, such for instance as
foreign war, domestic infelicity, money
strinEenoy shrinkAge in business. strikes
on railroads and hundred and one things
which recall the statement once made by
James R. Keene.
i believe / have as good information
as any man in the country, said Mr.. Keene
several years a 60. i know what IL going
on in the Cabinet at washin gton, have
the CLOSEST friends in political circles In
Washington, and have az good informA-
ton as any man that lnow Of concerning
the influences affecting foreign politics,
and yet with almost every thing at the
tip OF my fingers. ! am abb to win in Wall
Street only Sc ven time oct OF ten
The poicyholders' committee has
learned that the purchases OF Hartman
securities from Kuhn. Loeb a Co. Mr..
Schiff's firm. by the Harr imam Hyde board
amounted to the SO, OOO, 900 spoken Of in
the statement sent 10 the Insurance De-
parment, and on these purchases, II was
declared. the Arm made a profit OF at last
5 per cent. or 81 ZOO 600.
EXTRACTS PROM THE PENAL CODE.
The Penal Code, Section eiI. says, under
the title, The conduct OF officers and en-
ployees Of corporations"
A director, Officer. agent OF employee
OF any corporation or joint stock association
who
i, knowingly receives or possesses HIM
self Of any Of lite property othe rWise than in
Payment for a just demand and with intent
10 defraud omits TO make or cause or direct
TO he made full and true entry thereof
in its books and accounts; or.
?. Concurs in emitting 10 make any
material entry thereof IN guilty Of a mis-
demeanor.-
The Penal Code. section 52s, says under
Larceny defined:
a person who with intent TO deprive or
defraud the true owner Of bis property or
Of the Use or benefit thereof or TO appro-
pirate the same to the use Of the taker or
Of any other person, either
!. Takes from the possession OF the true
owner or Of any other person; or obtains
from such possession by color or aid Of
fraudulent OF false representations or pre-
tenoe or OF any false token or writing; or
secretes. withholds or appropriates TO his
own use OF that Of any person other than
the true owner any money, personal prop
erty, thing in action, evidence OF debt or
contract OF article Of value Of any kind or,
?. Having In his possession, custody OF con-
troll as tailee, servant. agent, clerk, trustee !
or officer Of any person, association or cor |
poration; or "a public officer or as a person |
authorized by agreement or by competent !
authority TO hold or take such possession /
custody or control, any money, propelty. /
evidence Of debt or contract article Of value /
Of any nature or thing in action OF possession, |
appropriates the same TO his own u-e or !
that Of any other person other than the true I
owner OF person entitled TO the benefit there /
Of;
Steals such property and Is guilty Of
larceny
ARE THEY DISQUALIFIED FOREVER
The emphatic statement was made by
those familiar with the facts that all OF the
Hyde party Of directors have
been and are at the present time Interested
in securities that have been sold 10 the
Equitable Life Assurance Society. Il IL a
well established principle in Law, II Il as
serted that trustee is forbidden 70 reap
any advantage from his position or deal
with the trust property for his own benefit.
and the insurance Law Of the State section
30, says under the title, Officers and
directors not TO receive compensation for
negotiating loans-
No director or officer Of an insurance
doing business in this State
shall receive any money OF valuable thing
Tor negotiating, procuring or recommend
ing any loan from any such corporation or
Tor selling OF aiding in the sale OF any stocks
Dr. securities TO and by such corporation.
Any person violating the provisions Of this
section shall forfeit his position a. such
director or ofioer and be disqualified from
thereafter holding any such ONCE in any
insurance corporation
PLENTY or FIoHT AHEAD ~ IRIS NEEDED.
The policyholders' committeeman. re-
'erring 10 the foregoing section Of the
insurance law, believed Il 10 he again de-
iirable to quote from Mr.. Hyde's words
which were appended TO his authorized
late on Saturday night, wherein
dr. Hyde said; my opponents have
itarted a fight; they want to fight; and now
intend they shall get their bellyfuI Of
ighting.'
With Mr.. Crimmins out OF sympathy |
nth his colleagues on the policyholders'
and all the others, Henry Nor {
yenthau, Y. H. outerbridge. Edwin War ,
eld, Z, ". Bloomingdale. Charles Bulkley
iubbel and John b. stanohheld, solidly /
rrayed behind their counsel, Frank n.
'latt, Il was positively asserted last night ,
hat Yes, indeed, there will be a benyfuI f,
I fighting, and Mr.. Hartman and Mr.. !
lyde and all others who have prohted
ersonally by using the funds Of the Eaui-
able Assurance Society will get the fullest
ellyful Of fighting they ever had In their