The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-17

ADVERTISING AGEYrs
3s Park Row, New York
Of the Equitable (by the grace Of Mr.. Hyde,
who transferred five shares 10 hlA name
Mr.. Hartman being a pOllCyhoider Of six
weeks standingD had been made the sub
ject Of criticism because Of his close friend
ship 70 eK-Coy. Benjamin b. Odell, DR., Of
Newburgh, now chairman OF the kepub-
lican State committee. Moreover, it was
Mr.. Hartman who, according TO good au-
tdority, announced that he would spend
half OF his fortune, II necessary, TO prevent
the amending Of the Equitable Life Assur-
ance Societys charter at Albany. Mr..
Hartman by these utterances II was
asserted proved beyond peradventure that
he will never become a successful politician
for the reason that he himself pointed di-
rectly to a chapter in the situation which
up 70 that time had escaped observation
and scrutiny Those who said that Mr.
Hartman had Numbered in this matter
went on 10 remark that Napoleon Bona
parte and Bismarck had greatly injured
their renown and the estimate in which
posterity would mold them 10y their attempts
to eXpain-Napoleon his final defeat At
Waterloo, and Bismarck his retirement az
the Iron Chancellor.
That theI,s Is a political side TO the Equita-
bic Life Assurance Society's affairs was
made very plain yesterday. EI-SupeTtn-
tendant Of Insurance Louis +. Payn Of
Chatham l. the representative of the Harri-
man-Odell wing Of the Equtabe's Affairs
in Albany. Mir Payns Senator Henry $,
Amber Of Chatham, il chairman Of the
senate Insurance Committee. Every effort
has been made to block a legislative inquiry
Of the EQuitable's affairs. The report
current for two years that Mr.. Hartman
offered Mr.. Hyde s. 90 90 for the control
ling interest in the Equitable; the remarks
of Mr.. Hartman that LH would prevent
if possible, the ame ndu.. at Of the charter
Of the society at Albany 80 that the policy
holders Of the society could eventually
come into their own; the fact that a legisla-
tive inquiry has been prevented up 10 this
time; the further fact that the petition Of
nearly a dozen poliCyholders for the right
to bring action against the Equitable
has up to this time not been acted on 10y
Acknowledgement Mayer were sufficient
indie ations. II was asserted yesterday, OF
the plight in which the 900 90 poliCvholders
OF the society find themselves. What Il 10
prevent Mr. Hyde, IL was asked, from dis
posing Of this controlling interest In the
Equitable 20 iety 70 Mr.. Hartman, In
view Of the vast loans on Hartman secun-
tic, and the vast purchases Il HarT man Sc
Curites especially in that irving year OF 1909,
by the Harriman-Hyde directorate Of ths
Equitable, would the 900 900 policyholders
il was also asked. feel quite comfortable
if the controlling interest ia the stock Of
the Equitable was sold 10 Mr.. Hartman?
The answer was, sure and positive, that
the only remedy which should receive
serious consideration i the passage Of a
general law at Albany requiring that every
part iCipatng pOliCyholder in the Equi-
table society should have the right TO vote
for the election Of directors. Otherwise,
il was insisted, In view Of the disclosures
Of the last two months, the policyholders
can have lift e redress.
Musr HAVE GAS INVESTIGATION.
The Republican politicians down from
Albany yesterday contrasted the refusal
Of q legislative inquiry into the Equitable
socety's affairs with the promotion Of the
inquiry into the affairs Of the gas compa MES
Of New York city, and the history Of the
whole matter came out. To begin at the
beginning, when Seth Low beca me Mayor
of New York city on Jan. !, 1902. he ap-
pointed Col. Robert Grier Monroe TO be
his Commissioner Of Water Suppl Gas and
Electricity. The Low administration in the
first year paid the bills of the Eas companies
for city light, and the next year rejected
the bids. The Remsen gas till was passed
at Albany, sent down by Gov. Odell TO
Mayor Low, and with the exception OF two
lines in the bill was satisfactory 70 Mayor
Low Those two lines we're objection
able because they seemed TO give the gas
companies greater power than Mayor Low
upon vetoed the bill, and Il was killed at
Albany. All this time the bids Of the gas
companies had been rejected, but Gov.
Odell did not institute legislative investi-
cation. As Governor OF the State and
director general of the Republican Iagis-
lature at Albany, he could easily have sent
down to New York a committee Of Senators
and Assemblvmen TO investigate the gus
companies and insist that they reduce
their prices 20 the city Of New York and
a. NJ
single step In that direction. The Remsen
gas bin made its appearance at Albany
again the following winter and was
passed without the features to which
Mayor Low had objected. The amended
Rensen gas bill was then sent down TO
Mayor Mcclellan for mis- approval. Before
going any further II should be explained
that the Remsen gas bill had no more re-
lation to the prices which the City Of New
York paid for Its gas az a municipality OF
than a seven-leRged rabbit In Corlears Hook
had to a Contemporaries rhinoceros In
the iungles Of Africa. The Remsen gas
bill merely perfected title in certain prop
critics OF the companies; that was all,
and nothing else. This was the conclusion
Of Mr.. Odell's advisers rs well as Of the
ablest lawyers In New York city without
,egard TO politics.
Mayor Mcclellan submitted the bill 70
number Of distinguished lawyers, Re-
publicans as well as DemocrHts, and they
p cssnted exhaustive briefs declaring Il
10 be their opinion that be- would bene M
the city Of Ne p York by signing the Rem
sen Gas bill. After giving The ma tier
much consideration, for Mayor McClelan
j. himoh a lawyer; he approved tho hin
IL mattepd not 10 Mayor Mcclellan and he
didn't know what Gov. Odell would do
with the bill, whe Their Gov Odell would
sign It or not. the Mayor resting his decision
on the briefs OF the eminent lawyers who
advised him and on his own sense Of right
and justice A n matter Of fact though,
Gov. Odell had told his friends In Albany
In the early days after the bills passage
that he would sign IL. II was only after
Mayor Mcclellan had approved the bill
that Gov. Odell de cided 10 play politics with
the Remsen Gas measure. He thought, ~
he told some Of rs olitioal friends az Al
bany, that he sag on opportunity TO put