Omaha daily bee., 1905-06-24
COURTS ARE IN READINESS
New York Judges Take No Vacation
Awaiting Action in Equitable Case.
PROCEEDINGS WILL START IN FEW DAYS
Attorney General says Action Will
BE started for Return of
Money and to Disbar
Omcials.

money anu
omciaIs.
NEW YORK, June Z3.-The regular sum
mer vacation of the court of general ses-
sions will be suspended this year so that
the court may be available If District At
torney Jerome begins prosecution in con-
nection with the affairs Of the Equitable
Life society. This action was taken upon
the request Of District Attorney jerome.
The district attorney in making his mo-
ton to suspend the courts vacation, said
he had a letter from Governor Higgins
Offering to place the evidence obtained by
Superintendent of Insurance Hendricks
al Mr.. Jeromes disposal Mr.. jerome SAID:
. 1t is my desire to have that evidence and
it is my intention to go through 1t very
thoroughly. ! am not in position to know
at this time whether there has been a viO-
latlon Of the law but 1t is my duty to find
out.
1t is unusual for the governor to address
a letter such as 4 nave received to the
district attorney and il focuses public atten-
ton upon me. l have made arrangements
with Justice Davies Of the criminal branch
Of court and he will continue the June
term of that court through the summer.
The powers of both courts can, if neces-
sary be involved. 1t will take me some
time to learn whether / shall need the
sistance of the courts.
Attorney General Active.
Attorney General julius NJ. Mayer was at
his Office touay engaged in going over tho
proceedings in the investigation of the
! Equitable society.
When asked how soon he would begin
action against the Equitable officers scored
| in the Hendricks report, Mr.. Mayer re-
! piled. Action will be taken soon as it
! is properly possible, and it will not be
matter of weeks, but of days only before
we will be ready. Not only have l got to
60 over the Hendricks report, but the tes-
timony which preceded that report and on
which the report is based"
He was of the opinion that separate
I actions would be taken, one for the resti-
tuition of funds wrongfully secured and an
other for debarment proceedings against
| officers of the society. In commenting on
this phase OF the situation, Mr.. Mayer
said:
Tlis is a novel action and the first time
/ in the history of New York where the
! disbarment proceedings against officials of
an insurance company will have been
| taken. Under the insurance law, the appli-
cation of which has never yet been put in
practice, the attorney general has power
to debar officers of an insurance company
who have been found derelict in their duty
and this debarment not only precludes
them from holding positions as officers, but
also debars them from acting as directors
not only in the company :rom which they
have been debarred, but from any other
insurance company doing business within
the confines of the state, and the attorney
general is the one to enforce the action.
Belmont Writes Letter.
August Belmont said today that his
resignation as a director of the Equitable
Life Assurance society was forwarded tc
Grover Cleveland on June IA. Il have moi
beel notified that any action has beer
taken on my resignation or letter" ht
said. land have not even received ar
acknowledgement of the letter from Mr.
Cleveland"
Mr.. Belmont's letter to Mr.. Cleveland
: follows:
NEW YORK, June 49, 19O5.-My Dear Sir
have been policyholder Of the Equitabl
Life Assurance society since 1887 ! wal
: ever since and from the year 1892 to 1895
served on the finance committee. My elec
I tion, however, although qualified for direc
torship a policyholder, was effected b.
- the majority holders of the stock of TIL
Inasmuch as this particular amount o
stock has now passed into a trust, o
J which you are 10 act as trustee, with
r full understanding that you will have com
Judgment in the selection of the directors
! ! place my resignation in your hands {
use when and in what manner you ma
, see fit. Believe me, yours very truly,
AUGUST BELMONT.
Hyde Ready for Trial.
James H. Hyde through his counse
Samuel Untermeyer has indicated TO At
torney General Mayer his willingness t
facilitate the attorney generals propose
suit against James H. Hyde and associate!
. for the return of the profits receive
p through the many syndicate transaction
il with the Equitable society.
= Mr.. Hyde said he was more than anxiou
! for an immediate determination of tn
. ownership of this fund and IF he is righ
. as ne believes himself to be, the judg
. ment of the court will relieve him froi
y the criticisms that have been leveled 6
e him in the reports of the superintendeI
! which he regards as most unjust and base
ie upon a total misapprehension of the la
, and facts"
- Attorney General Mayer informed NJ
- Hyde that he will avail himself of II
offer TO expedite the matter to an imm,
-e diate determination.
- A rumber of agents who have worke
~ under the management of Archibald
- Haines, a general agent for the Equitab
- in this city, resigned today. Mr.. Haint
:, held a larger force of agents than ar
: other manager employed by the Equitab
society. Today he called his men togethe
-, told them that business had been mise
: able since the publication Of the con
: panies' affairs and said that he knew th
~, many Of them could not afford to continl
~ without doing any business, He add
that, in view of the present conditions.
any Of them wished to resign they could {
1 so without the slightest hard feeling
= his part.
The executive committee of the Equitab
~ society. James H. Hyde chairman, m
again today for a short time
Chairman Paul Morton OF the board
directors will return 10 New York tomo
NJ row morning, It is expected.
a. E N Vonharten, president of the Sout
Y western Oil company, who formerly was
ic- city agent for the Waters-Pierce OIL col
a, pany, testified in effect that the Water
an Pierce company marketed oil through a
other oil company of this city which pJ
IN ports TO be an independent concern.
,a torney General Hadley asked il this col
m pany reported 10 the Waters-Pierce COZ
bs pany Objection was made TO this questiC
- but was overruled and the witness a
"a swered that the company made periodic
- reports TO the Waters-Pierce company.
1t Rebates to Competitive Customers
q, saw1vr ait