The Montgomery advertiser., 1905-09-28
Equitable Affairs Again
 Being PrObcd.
INSURANCE INVESTIGATION
Senator Depsw Requested to
 Appear.
Expert Accountants Placed at Work to Unearth Record of Big Profits Which Were Made In
 Deals.

New York, Sept. 2T,-Today's session gate insurance methods was given over to the matter of syndicate transactions of the Equitable Life Assurance Soci- ety.
 Behry R. winthrop. Assistant Secre- tary and Financial Manager of the so- ciety, was again on the witness stand. and many of hls statements were &C., companied by typewritten documents giving the various transactions in de- tail. It was brought out that in one of those syndicates Senator Depew was a participant to the extent of $1oo,000, and the Senator was requested 10 ap- pear before the committee.
 Mir. winthrop was unable to ind where a record of the profits from a number of the syndicate transactions was made, and expert accountants at work on the books of the Society are expected to unearth these later.
 The witness detailed a number Of loans to the Equitable Trust and Mer- cantile Trust Companies. as we'll as the shsring of these companies In syndicate transactions with the Society.
 Late in the day Henry Greaves, who was a clerk for George H. Squire, for. n1erly member Of the finance conn mittee, was called to supply tnforma- ti6n regarding the George H. Squire, trustee" account and from him it was learned that there were a number of these accounts. There was beside the Squire account the ''Marcellus Hartley. trustee account and another, the -. W. Alexander, trustee" account.
 Temporary Adjournment.
 Mr. Graves produced the bank book of the Squire account and by means of 1t, Mir Hughes tried to trace amounts that would correspond to profits to this account, but the witness could not re- member the items or the amounts de- posited.~ MT. Graves was still on the stand when the session adjourned for the day, 1s
 Mir Graves, however, gave way tenn poFafily to Mir, Winthrop. while Mir. Hughes queried further regarding syn. dicates
 Mr. winthrop was asked to furnish list of the individual participants fin syndicates, and said that President Nor ton was preparing such a statement. MT. Winthrop said he had no positive information of the James H. Hyde and associates" syndicate, but he ex- poets to have. MT. Winthrop said that in the Philadelphia, Baltimore and Washington and Long Island Tours syndicate, manager by Kuhn, Loeb SE
  of $500,000 and the other of $l00,O0o. The society derived profits of $2.SSs on the Si00,000, while ]. W. Alexander, J. H. Hyde. c. H. Squire and W. H. Mc- Intyre divided the profits on the $50O,- 900. The Equitable put up S2lS,lO0. It has received no interest, neither has the money been returned and when asked if the matter had been called to the attention of these gentlemen, Mir. Winthrop said: ''It will be.
 Jacob H. Schiff of Kuhn, Loeb & Co was subpoenaed today, and 1t Is ex. pected he will appear to testify tomor- row or Friday. Mir. Schim will be ask ed about the transactions of his firm with the New York Life Insurance Company as well as with the Equitable Life Assurance Society.
 Nix0n's OIIness.
 Upon the converting today of the spe- cial legislative committee investigating the life insurance companies, Chairman Armstrong announced that owing to the serious illness of s. Fred Nixon, Speaker of the Assembly, the commit tee met under distressing circum- stances. From information at hand" Senator Armstrong said, "it Is feared he cannot recover. and in the event of his death, the committee will instantly adjourn" @~.,..
 ii was announced prior to the open
 
 H. schin. head of the firm of Kuhn, Loeb & Co, bankers. had been sub poenaed and will take the stand for examination either today or tomorrow The first witness was George C. Van Tuyl Jr, Secretary and Treasurer of the Albany Trust Company who pro- duced a transcript of the account of Andrew Hamilton, opened February 21, 1905.
 He stated that neither the bank nor he had knowledge of the purpose for which checks were paid in or out on that account.
 MT. Van Tuyl was excused and Henry Rogers Winthrop, Assistant Secretary of the Equitable Life Assurance Soci- ety. who was on the stand last Friday when the committee adjourned, resum- ed his testimony as to the syndicate transactions of his company. Mir Winthrop said that in the syndicate organized to take the bonds Issued on the reorganization of the Union Pa cifc Railroad Company. the Equitable Society was allotted $750,0o0 of the bonds and the profits the Society re- ceived from this transaction were 5,76O shares of Union Pacific stock.
 The Equitable Society. MT. Winthrop said, paid only for the amount for which it subscribed.
 A Curious Mixup.
 Mir. Hughes. counsel for the commit tee. asked why it was that the Eouit- able Society had paid $75O,000 to the Mercantile Trust Company Mir. Win throp said it was because the cheeks were paid that way. Several vouchers signed by George II. squires as secre- tary of the Finance Committee of the Equitable were shown in evidence as also was a letter from George ii. Sduires for the Mercantile Trust Com jany to General Fitzgerald of the Finance Committee of the Equitable Society, asking for payment of $500. 900 or 80 per cent of the EquitabIe's par ticipation in the Union Pacific syndi- cate in consequence of a call by Kuhn, Loeb & Go.
 Then" said Mir. Hughes. George IT. Sauires, first as an oficer of the Mer- cantile Trust Company. writes to the Equitable and asks for $6O0. 900, and then as an officer of the EquItable signs checks paying the money to the Mercantile Trust Company" asked MT. Hughes.
 "Yes," replied Mir. winthrop.
 Mfr. winthrop said that Gen. Louis FitzEerald chairman of the Finance a.N.