Omaha daily bee., 1905-06-25
MORTON TO GO TO BOTTOM
New Chairman of Equitable VIII
Carry Investigation Deeper
Than others.


NEW YORK, June 24.--Defnite state
ments are \made by the Herald today that.
in addition to the proceedings which are
expected to be inar surated by Attorney
General Mayer and District Attorney Will
liam Travis jerome, Paul Morton, chair
man of the Equitable Life society. with the
full knowledge and approval of the new
owner, Thomas F. Ryan, will, by his own
investigation of affairs, delve deeper than
either the Frick committee or State Super
intendent of Insurance Hendricks
Most scandalous charges against certain
rich men are hinted at in connection with
this development. They have not hereto
fore been mentioned prominently. One vi
them, says the Herald. is currently reported
to have accumulated $S,000,0O0 in a few
years, while another, an appraiser,
amassed more than $lO00,000 in two years.
While some of these matters were only
indirectly connected with the societys af-
fairs, II is intimated that various docu-
ments are being certified, while accounts
and occurrences will be used as a basis
for affidavts in court proceedings
Wherever, the Herald declares, money is
found to have been obtained by individuals
on syndicate opera tions or on bonuses to
secure loans and the like, it is asserted
that actions will be begun to collect the
amounts to which the society was lawfully
entitled had nothing been diverted from its
treasury
Paul Morton returned from Washington
today and resumed his work as chairman
of the Equitable society. He was in con-
ference during the morning with repre-
sentatives of the expert accountants who
are making an investigation of the Equit-
able affairs under his direction. Mr. Nor
ton said, through his secretary, that he
had not accepted any other resignations
! and he would not intimate when he Intends
to take such action. From this time until
| the end Of the month when he returns to
| Washington to formally sever his connec-
| ton with the Navy department, Mr. Nor
| ton will remain in town. He has indicated
| that he proposes to stay here all through
the heated term, allowing himself only
| brief week end vacations.
Concerning the men whose names were
said to be in the salary list of the Equitable
society though no longer in the service of
the company, Chairman Paul Morton today
made public the following statement:
| DR.. F. w. Lambert was the first medical
! director of the Equitable. He died July II,
1904, having served for .forty-five years as
! chief medical director His salary was $25.-
! COO per annum, and it was continued and
| paid to his widow up to and including De-
Sember, 1904, from which time nothing has
DR.. Edward Curtis was elected medical
director in September, 1876, and was retired
February, 1904, on account of a stroke of
| paralysis but with the understanding that
! the society could avail itself Of his services
| as consulting medical director AS medical
director he received a salary of $1,000 a
year, which was continued until January
J. 1905, at which time owing to his inability
| to perform active service 1t was reduced
to $4,000 per, annum. This sum is still be-
ing paid to him.
| employed by the Equitable in 1859. He
| served the society forty-five years in posi-
tions of trust and for more than twenty
five years was chief of the society's Sc
curity department in charge OF its vaults.
His salary was $500 per annum, and on
April 3. 1903, he left the service Of the So
ciety on account of i'll health and his sal
ary was continued as a pension.
4 George Il. Squire came with the society
in September. 1899. His salary In 1904 was
$4,000. During August of that year he lost
a leg and temporarily was incapacitated
him six months leave of absence with pay
which expired on March l, 1905, since which
time he had been on the pay, roll at q oO
per month, but by whose authority have
not yet been able to find out.
Announcement was made tonight by At
torney General Mayer, who has postponed
his return to Albany until tomorrow, ir
order to attend to the affairs Of the Equit
able, that restitution had been made by
former President Alexander Of $25, ,O53 %
representing amounts received by him witt
interest on certain syndicate operations re
ferred to in the preliminary report Of Su
perintendent Hendricks. The announce
. ment was conveyed in a letter addressed by
H. M Alexander. son of the president, tC
Paul Morton, a copy of which was sent b!
the writer to Attorney General Mayer so
his information"
James w. Alexander is reported to b.
gravely ILL., At first it was hoped that h
might be able to go to his summer home II
the Adirondacks, but his condition is suci
that his physicians have advised agains
removing him from his daughters hous
at 116 East Sixty fifth street. On this ac
count the news that Chairman Morton o
, the Equitable board had accepted his resig
nation has been kept from him. as we'll a
all information about the structures con
tained in the report of the state insurance
! superintendent.