The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-22

that proved to be so detrimental to the
society's interests. He was cognizant OF
and approved the various subsidiary un,,
dertakings which we have criticised, and
by reason thereof has failed to meet the
obligations imposed upon him as chief
officer OF the society and it is an open
question whether he IL not disqualified
under section SO Of the insurance law from
hereafter holding any office in lie insur-
anoe company, AZ well as all the other
officers and directors who participated in
these unlawful transactions.
MR.. JAMES H. HYDE.
"Mr. Hyde. on the death Of his father.
became the owner OF 5O2 shares Of Equitable
society stock and acquired thrty-five addi-
tional shares making good working
majority. He knew this, and others were
quickly made aware Of it. He did not hest
tate to extract from the society's treasury
1857, 500 for his stock in the Missouri Safe
Deposit Company. made valuable only by
the outrageous leases with the parent
society. He permitted the society to lose
heavily in its business transactions with
the Commercial Trust Company, OF which
he is saaried officer and a large stock
holder. He was very active in promoting
the transactions by which the present
and he thereby profited largely and became
vice president at liberal salary. BY rea-
son Of the Equitable society's control OF
the Mercantile Trust Company he became
VICE president Oh tte INSTITUTION Will q
good salary. He has been accustomed TO
buy large amounts of securities and involve
the society In other important ventures
without authority, He has carried large
holdings Of the societys stocks in his own
name. He eNacted salaries out of all pro-
portion to his age, ability or the value OF
his services, and caused those or his I'M
mediate friends and favorites to he unduly
| advanced
He is mainly responsible for the extrav-
! ,1n,, l,u " a
! officers He has been accustomed to draw
| large sums for expenses on his own UNI
itemized vouchers In fact, he has not
seemed to consider himself accountable to
any one for the expenditure OF the society 3
| funds He introduced and conducted the
syndicate transactions and involved others
with himself. He forced himself on boards
| OF direction and into business relations
with prominent men by the aggressive
assertion OF his stock control OF the Equita-
| BILE society and by those means he gradu =
lily assumed domination of the society
| affairs until the presidency was reduced to a
position of secondary Importance. His
| authority continued to increase and he
more and more as il they we're his own
| until he was checked by the demand Tor
naturalization and his retirement. The
policvholders are under great obligations
10 Mr.. Alexander and the other executive
officers for taking this step.
| MR.. GAGE. F.. TARBE1I.
THE following charges have been made
against Mr.. Tarbell by some Of the other
executive officers:
That he has been extravagant in the ad =
ministration OF the agency department:
That he has encouraged or connived at
! Relating.
That during several months last past
he has been allowing TO agents 81 a thou
sand for new insurance in addition to the
! regular percentage. without consulting
the executive committee.
That just before the controversy he re-
ceived from the society Sls50Oo cash in
settlement Of his claim for committed COM
missions in the Chicago agency.
That he encouraged INSTRUMENTATION by