The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-09-26

New York, september ZA.-'oy LuiSdeo
operations Of the Equitable Life In
suranc Society were taken up by the
insurance investigating committee TO-
day. and consumed the entire afternoon
session. Henry r. Winthrop, assist
ant secretary and financial manager OF !
that society, was called to the stand
~mmediatel after the recess and pre-
scented 10 answer to a record OF yu1l-
cate participatiOns Of his
also to record of sales and purchases
of securities for the past hVe years.
He detailed as far as he was able the
transaction of the syndicate OF j.. ii.
HYDE and associates and took mem
oranda of all information he was uh-
able to supply which is to be presented
at d later date.
One of the operations was III Al
Iantic Coast Line BONDS, IN WHICH .
Fl. HYDE and associates the Equltaple
matchmaking as a member, palu 81
37G oOG on call, and received Sll4,oo
nrofts. Mr.. Winthrop said there was
nothing Oh the Equitable BOOKS 10
show who the associates were, hor
what was Mr.. Hyde's persona! pron''
The Eduitable also participated III d
Union Pacific syndicate III the Little VI
+ II. HYDE, and when asked ny VIA
authority the society assumed lle
"nonSihi;itv of Mr.. Hyde's personal
drnnrations Mr., WINTHROP produced
tho minutes of the finance committee
1rIr q showing a written assign
mont TO the company by MI. Hyue VI
LII crpHiootp
The society had paid into that syn
dicate S1.67O,OOO. Much OF the lhlol
,no+ion desired in regard to these syn,
dica+e oDeratiOns Mr.. Winthrope saio
In r,orId have to look up ana supply
later. omined
INST before Winthrop was eXanileu'
NJ uuohas read a long letter from
Crnxnr cleveland who is d trustee lol
no nolicv holders in the EqultaDle 81
cietv. under the Thomas +. Ryan ""
agreement. o--iaonce
The letter vase offered in eVloenee;t
Mr. cleveland detailed the progress VI
tho trustees in mutualizlnS the coAi
pany and SAID: =, tho nath
..The obstacles that lie IN lhe p"s %
Of the proposed mutuallza.loh - oSt
inherent that even WIN II a,ei1y
-+rdv and care they cannot De e'@N
overcome. eo,d.
.In common with all Othhers VINO uo-
c;ro tho hest conditions in this lhpol.,
ant fnId of business, where people
havo 60 much at stake, the truStees
no+ino for the policy noluel9 y
~ Enuitable Society, will glauly VIZ
oon,e any aid in their WORK WHICH -
rosI,l+ from the labors OF your Gull
n,jttPp. lo~o, A
At the morning session Ihonas -
DraInor vice president OF the NC"
Wi, life company, described .ne
a@encv system of the company anu Liz
method of paying br
.Nylic' system, eoerf
this company, separating Tue az.
Tho create business into SraueS
cordinc 20 term Of service VIZ tas
Cd and these bonuses Mr.. buchn1i -
"a rarn charged to renewal pre-
uiur,s MONEYS received by agehu
fnnm .NvIic" Mr.. Buckner SAID "el'
aad;+ion TO the regular agent coi'
missions. how ex
nonsive such a system mignt pe, ="
teh total payments to "Nyllc - -
ororeooted less than one per cent y
the total premiums. srnn]y
Mr. Buckner was unable 10 supp
considerable amount of informatlonu u
sired, but will do s at a later peraoo
Mr.. Hughes asked for full state,nen
of the business written in the 49,
states and Canada, also separate stn 90
ment relating to foreign coultiio
showing premiums and coh!lh ~
paid. that it might be ascertalneu NJ ~
much. if any, the business OF the ~
york life Insurance Company was DC
mo extended in the foreign field at III
exnense of the American policy hOlder'
The committee adjourned until neA
Wednesday. Senator Armstrong; chall
man of the committee announcing I'll.
the three days session this week ceen
cd so successful that it would be trle
next week and if matter for the cou'
sci came in as readily as it has pee
doing. the essions hereafter Will
held but three days a week.