New-York tribune., 1905-07-14
CONFERENCES HELD.
important Equitable Developments
Looked For To-dau.

conferences among several OF the principal fig
ufes IN the Equitable Life Assurance Society affair
YESTERDAY preparatory TO the meeting OF the direo-
tors to-day pqued the curiosity OF all Wall Street
ana apparently presased important developments
at the meeting this morning. Thomas F. Ryan
now the oominent figure in the society; his lawyer
Pau ID. Cravath. and James Hazen Hyde former
owner OF The stock control, and his lawyer William
c. Gullver. held q long consultation at the offices
OF Alexander & Green. in the Equitable Building.
Mr. Hyde and William h Mcintyre formerly
Fourth vice-rresident, spent most Of the day at
the Mercantile Trust Company. Late in the af-
ternoon Mr.. Hyde went up TO Mr.. GuIver's Offices
where Mr.. Ryan met him. Later Mr.. Cravath came
IN. They were together for than an hour.
After the conference all refused TO discuss it It
WAS believed that they talked over the Ryan-Hyde
stock transfer and the troubles OF the trsteeship
Meantine Paul Morton chairman OF the board,
was holding earnest conference with Gage e.
TRrbel. second vice-president. After this. Mr..
Morton the Morton Trust Company
where he closeted with MI Ryan for a long
time.
Robert H. Hunter. deputy superintendent OF the
EtAte Insurance Department. called 10 see Mr..
Norton yesterday. They had a long talk, but
goth refused reveal the subject OF converse
Sion. William Nelson Cromwell who was brought
into the Equitable fight ostersibly as a peace
maker, really It was said by the Hyde supporters.
as another lawyer for President Alexander, was
caoseted with Bainbridge Colby TOO, but 1t was
said that their business was not a part Of the
Equitable affair.
Jacob II. schin was about the Equitable Build
ing but IL could not be learned that he saw any
Equitable officials. Mr.. Schi has received letters
from ex-President Cleveland, Justice O'Brien and
George Westinghouse. the Ryan trustees, COM
rnending him for the stand he took in the Equta-
bic investigation and the testimony he gave before
Superintendent Hendricks. report in the hnan-
oaaI district had it that Mr. Schin was likely to
be one Of the polcyholders' directors Al
ready he owns the necessary five shares of stock
bought for 5000 a share.
Senator Depew, as told IN this mornings Trib-
une, has resigned counsel for the Equitable,
but he has not resigned director. according TO
Mr.. Morton. When asked about this. Mr.. Morton
said:
1t is that, the cay before sailing, Nj DePsw, P,,
retainer or accept his resignation, was at liberty
] was very busy at the time. and did not pay
much attention to the statement. l did not regard
n6n e sn5 baTe 9o @ s yet PeceiTed his formal
or written resignation
The meeting to-day will result in the election Of
the nine men named by the trustees as directors,
and probably the ratification of the others whose
names have been selected. Mr.. Morton may an
to the board his scheme for the reorgani-
cation OF the executive committee TO take the
place OF the old executive and finance committees.
The New-Yorl Life Insurance Company will
not favor a legislative investigation Of all the
insurance companies. according to E. R. Per
ktnS, second NlCe-lTeSlQeLL, DsCdASt SuCn OH
vestigation would indicate distrust by the people
of the State Insurance Department. Such dis
trust and distrust of insurance companies suffi-
oient TO warrant a general investigation, does
not exist, Mr. Perkins says.
I'VE welcome any investigation at any time
by Superintendent Hendricks" said Mr.. Perkins,
when asked what his company thought about
ths edvisability of legislative interference.
Publicity as to all things connected with our
rnanagement and business. through the proper
channels always has been President McCalls
policy. There was investigation of our com
pauy made recently by the State Department,
. the report on which was issued only last May.
We have been Investigated by the governments
of France Germany, England Switzerland and
Russia, while at various times all the State de-
11artments look over our books. President Nc
Call advocates Joint Investigations by the de-
partments Of different States where 1t can be
done TO advantage.
'T should not favor legislative investigation,
however for two reasons-frst, because IT is a
direct slap at the peoples servants; second, be-
cause believe there is nothing in the insurance
companies 20 warrant it. Superintendent Hen
bricks. I believe, has investigated the Equitable
honestly and fairly, with his usual thorough
ness. and he will investigate the Mutual in the
same way. Whatever he has found irregular viii
be corrected under his direction. To have the
legislature step in to investigate would show
distrust of the public's servants.
Il don't believe there is widespread distrust
Of insurance companies. I see all the mail which
comes into the Office. and in the last thirty days
only one policyhoider has expressed dissatisfac-
ton. When / wrote to him, inclosing Superin-
fendent Hendrickss report as to his recent in
vestigation, explaining the points he seemed
uncertain about, he replied, showing his ap-
provsL"