Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1905-09-30

New York--7W Wednesdays session OF
the legislative committee to investi-
gate insurance methods was given
over to inquiring further into the syn-
dicate transactions of the Equitable
Life Assurance society.
Henry r. Winthrop. assistant sec
retary and financial manager of the
society was again the witness, and
many Of his statements we're accom-
panied by typewritten documents CIV
ing the various transactions in detail.
1t was brought out that in one of
these syndicates Senator Chauncey
M. Depew was participant to the ex-
tent OF 100000, and the senator was
requested to appear before the COM
mittee.
Mr.. Winthrop was unable to find
where a record Of the profits from a
number of syndicate transactions was
made, but expert accountants now at
work on the books of the society are
expected to unearth these later.
The witness also detailed a num-
Der of loans to the Equitable trust
and Mercantile Trust company, as
well as the sharing of these comPan-
les in syndicate transactions with the
Equitable society
Late in the day Henry Greaves, who
was a clerk for George H. Squire, for
merly a member of the finance COM
mittee, was called to supply some in
formation regarding the George H.
Squire trustee" account, and from him
1t was learned that there was a num-
Der Of these accounts There was, be-
sides the George H. Squire trustee"
account, the "Marcellus Hartley trus-
tee" account. and another. the 81. w.
Alexander trustee" account.
Mr.. Greaves produced the bank
book Of the Squire account, and by
means Of it Mr.. Hughes tried to trace
amounts that would correspond to
profits on this account. but the wit
ness could not remember the items
deposited. Mr.. Greaves was still on
the stand when the session adjourned
for the day
Mr.. GreaYes, however, gave way
temporarily to Mr.. Winthrop, whom
Mr.. Hughes queried further regarding
syndicates.
a list OF the individual participants in
the syndicates, and said that Prssi-
dent Morton was preparing such a
statement.
Mr.. Winthrop said he had no posi-
tive information Of the James H.
Hyde and associate" syndicates, but
he expects he will have.
Mr. Winthrop said that in the Phil
adelphia, Baltimore and Washington
and Long Island fours syndicate. man
aged by Kuhn. Loeb & Co., there were
two participations, one of $5OO,OOO,
the other Of 100000.
The society derived profits of $2SS6
on the 100000, while J. w. Alexan-
der, ]. H. Hyde, G. H. Squire and w.
H. Mcintyre divided the profits on the
100000.
The Equitable put up $218,100. 1t
has received no interest. neither has
the money been returned, and when
asked II the matter had been called
to the attention Of these gentlemen,
Mr.. Winthrop said. 1T will be-"
When the session opened Senator
Armstrong announced the b erious
Illness of s. Fred Nixon, speaker Of
the assembly, and said that In the
event of his death the committee
would instantly adjourn,
Jacob H. Sehiff Of Kuhn. Loeb &
Co.. was subDoenaed, and 1t is expect
ed he will appear to testify in day
or two. Mr.. Schif will be asked. about
the transactions OF his firm with the
New York Life Insurance company as
well as the Equitable Life Assurance
society.