Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1905-06-26
jerome TAKES Hold
DISTRICT ATTORNEY TO INVES.
TIGATE EQUITABLE.
Officials Long Since Dead or Re.
signed Still Drawing Salaries,
According to RepOrt-RiqhtS of
Policy Holders to Be Fought
Out in Courts.

New York, June 23.-Following the
publication of the report of Superin-
tendent of Insurance Hendricks as to
the affairs Of the Equitable Life AS
surance Society, came the statement
that District Attorney Jerome has un.
dertaken an inquiry into the conduct
of the society. August Belmont has
rendered his resignation as a director
of the Equitable.
Attorney General J. M. Mayer has
arrived here from Washington and will
remain in town several days investi.
eating Equitable affairs. In an inter-
view Mr.. Mayer said:
cit is manifest that the people
throughout the whole country are
profoundly interested in the affairs of
the Equita BILE Life Assurance Society.
Therefore think it fitting to say that
appropriate steps will be taken by me.
First, to accomplish the return to
the Equitable of any profits wrong
fully made or retained by reason of
trust relations or otherwise.
Second. To debar from holding
Office in this company any person who
has been faithless to his trust or vio-
lated any provisions Of law.
"Third. To obtain an accounting
for any waste or misapplication of
funds for any reason or by any body.
"There are certain other matters of
Importance which / am studying, but
to which it would be premature to re.
fer in detail. 1t might, for instance,
be of interest to the policy holders to
learn the character and the occasion
for some of the legal service paid for
during the past few years. But above
all inquiries as to alleged Delinquent
cies, the greatest necessity of the stu.
alton is that the rights of the policy
holders in all repsects be ascertained
as clearly and as completely and as
quickly and as legally as possible. In
this and in other particulars | shall
try my best to obtain results
A close friend of the attorney gen.
eral stated that the attorney general
would have the rights of the policy
holders ascertained by the courts.
Attention was directed to the fact
that four of the Equitable officers men,
toned in the report of State Superin-
tendent Of Insurance Hendricks as
drawing salaries for the past five
years, are no longer actively connected
with the company. E. W. Lambert
appears in the report as medical di.
rector with salary of $25, 900 year.
He died thirteen months age and yet,
according to the table his salary was
paid this year and last. Edward Cur.
tbs, who figures as a medical directo,
at : II 900 a year, resigned that posi-
ton eighteen months ago.
George Il. Squire, who is now di.
rector Of the company, is down on the
list as financial manager at $4,000 a
year, although H. r. Winthrop sue
ceeded Mr.. Squire as financial manag.
or many months ago. J. B. Loring is
recorded as registrar with salary of
50, 800 year. Mr.. Loring ceased to
perform active duties from the regis.
trarship in April, 1908.
Officers of the society said that pos
sibly Mr.. Hendricks had gotten hold
of an old list.
District Attorney Jerome has receiv.
ed a telegram from Superintendent
Hendricks stating that an official re-
port on the Equitable societyshad been
forwarded as requested.