The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-07-12
Warns Officials and Employees
10 Remain Silent
RYAN HAS BEEN ACTIVE
1t Now Develops That He Controlled
the Washington Life Insurance Co.
Before Ever Going Into
the Equitable.

the Equitable.
New York, July IA sufficient number
of directors to carry on the business of
the Equitable Life Assurance society
without, however, filing all the vacancies
caused by designations. were selected tox
day at meeting of the three trustees
of the majority stock. The names VIII
not be made public until after they have
been presented to the board for formal
election. Much comment was excited by
the publication in a morning paper OF the
testimony taken at the investigation by
Superintendent Hendricks. That the SER
vices of Second president G. e. Tar
bell will be retained was announced by
Chairman Paul Morton, who declined to
discuss the disclosures In the Hendricks
report No official copy of the testimony
has vet reached District Attorney Jerome.
in spite, as he said today, OF efforts on
his part to secure copy.
Morton Says Keep Mum.
Chairman Morton declined today to talk
about the publication of the testimony
taken before superintendent Hendricks.
He was in conference with his legal adj
visers for long time and later devoted
his attention TO mass Oh oocuineh's eoi-
lected by the experts now at work on
| the Equitable books
In a circular bearing yesterdays date.
Chairman Morton warns all officials and
employees of the society not to discuss the
socety's affairs.
I'm the future, when there is anything
to be said. | will say it," Is the conclud-
,,u ,,atar,a,, 40 Mr. Mor,op.s ,atter
'''e .1. -, a.,,....e, .s,. =,
Nhdii ii", N"o''Vi
ternoon that ne intended TO retain the
services of Second Vice-President Gage
e. Tarbell He said he has a promise OF
Mr. Tarhell,s happy co-operation in the
.a......,-..,ts., - ~ .ae,a+,,,s hns,nass
ieoi - - --.'..se,
anu eiit Hii' iaioe'i - : .
out, viii help in no small degree toward
the recovery of much OF the business that
lhas been lost within the half year.
-
VIII WORK io9etner.
Mr. Tarbell and have agreed to work
together for the present" said Mr.. Nor
~, - - =, dor,,o,,-
'o'' "" 49,"
suale MS aseluihess " the soSieeS aiohs
the lines of his special work, and then II
we do not agree later why one or the
other of us will leave the society," Mr..
Morton also said that the resignation OF
Archibald &. Haynes, local agent for the
Equita BILE, will not be accepted. He added
that he expects Mr.. Haynes to Withdraw
'iie m lesis iia.ion' ~. 80. -. H..
,r,i..ss ~ Ae TO- 20 -, ~ HE 49,
,,'l -, - -. 80 - ,ha ,,a,,,tshla
% nc esa,at'. ,sl n,,trals a,th
L'ie uraiee ooo'etS @iso W..
ms esSoS'"'es a"o'Ne 'A'
pans' ~
Int GNehihs lost sdys.
nheh ehe attel'ioh ~ e"o ,'''aA 9a
riu m"s ' a.'iac.e - " a,,,,' ,,,i,day -;
.isc.ioi , opeia,vis ,'' ,,s anu go Ia,,sr
supWays' ny ms US Puioi P, ,'a,. ,.n,'s,s
n ~ VI .he os '9S aiai - ~ tr,,it,,isi1
goi-,rolieu ine . snai.s ~ =. 80 a at Lna,,,,,
LIE assurance oo.iets' - 80 prnad,
INA, MI, ryan anu niI I,s ,,,.''',a,,oa c,,,,.
c'n'loieu oii' 0'"ei
pany. 80. -.
since January OIL the presene year
,he aiiairs ol t,o W ,,saa ~, a,,r
once company haVe peeu nia,asea ,Ie 60 ~,
ly III accordance WIN 'iie ~ ".si' ,., - =.
Ryan anu otheie i1 n,o , I,a.
with MIN III tue . npui'ap'S a. ~ S,@ -. rras-
the tiihe meh,ioneu @ = i"s 10" 49,, 80 tts,
ldent FORMER ohiei',i u 'iie 49,. 49,
insurance eoiiipans, VIZ No, naa - o. pra.,,art
OF absence rol tliev a',n1 han a. NOS
McCurdy OF tne M. .u"i - ,,',
explained where ne was TO 20 snu ny
wee presluent wHo nsPpena nPpp4 sr.',.. " oo,s,
a wee presinenl VI III. W., ,an. has NS,,t.t
pany. "hich 10 say snu I'm -,
insurance company
Was Badly Managed.
.r, rahr,arv last general attention was
a.,.no,ad to the affairs of the Washing
80 tya ~ tho report made to District
s.,or,,,,, ierome hv state Superinten-
80, - rnsurance Hendricks. who de-
o'n,.od tbe rnjsmanaeement of its affairs
ia hoaa simnIv lncomprehensible.
hau tba 1rst discoveries made by
o,e ,.,,s'',iaators ms that the eompany
was not only involved to the extent that
its surplus was wipeu oul, pul i.s Sap'.aa .a
stock was impaired. ho~es.i' unusl II
charter, IL was possible ior tne adn eapi.al -
the company TO De increased 10 svV'% anu
this was done, the company .nus oeins
given S3io,OVo worth STOCK u oiier ioi
sale"
The control or the $izo'Vo Oh STOCK
was held by Willia.i A. Brewer, Jr, anu
his associates. Levi T. morton was
The increased stock @ was n,,rcbaser