New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-01
WILL HEAR HYDE SOON.
MY BE UP THIS WEEK.
Interesting Testimony Before In
uestigating Committee Expected.

James Hazen Tfyds Is expected TO testify be-
fore the legislative Insurance Investigation
COMMITTEES this week, and incidentally TO FUR
nIsh some interesting testimony ap7opos of the
Kuhn Loeb & Co dealings with both James
H HYDE and Associates" ard the Equitable It
YVES later ruraored last night that his testimony
may on certain points, conflict somewhat win
that given on Friday by Jacob H Scf1ifr.
W T. Hunmel. of the Mutual Lies law de-
partrnent. may be another witness. AT MI
Thurnnael's apartments at Breton Hail iast
night Tribune reporter was told thaU HA''
Thurnr1el had left town last night ON ousA-
ness" but was expected back on Thursday.
After a meeting of the insurance commission
ars az various states held yesterday at the
Hoffman House Commissioner w. j. Folk, OF
Tennessee announced the appointment Of W. J.
Graham OF Minnesota, and s. H Wolfe. Of New
York. as actuaries to superintend an investiga-
lion exclusively Of the New-York Life. which
will begin tomorrow, and will probably last
until next year.
Commissioner Folk made the following state
rnent as to the recent disclosures OF insurance.
political contributions:
Contributions by officers Of life insurance COM
NAMES of trust fund moneys for political pur-
poses Is in my judgment gross misapproprla-
lion OF such funds, and without 5ustlncation
either from legal or moral stanopolno- Any
oomrany doing business in Tennessee. whose
officers have contributed money from assets Ior
political purposes, or, indeed, for any purposes
Inconsistent with the interests Of the policy
holders must 10 it that restitution is made
to The assets of the company.
IT is understood that Messrs. Graham and
Wolfe VIII be appointed first assistants
JEROME WILL SAY SOMETHING
District Attorney Jerome said yesterday. COM
rlenting on The Tribune's exclusive story that
he had reached decision that there was no
present opportunity for criminal prosecution in
Gets shown by the legislative investigation of the
affairs of the Equitable:
have discussed this question with Senator
Armstrong and with one else. but you may
say for that on Thursday. when Justice
Days court opens. shall take occasion to say
something this insurance situation What
that something is to be no one but Senator Arm
strong knows from me
President Paul Morton Of the Equitable Life
gave out the following interesting statement
yesterday:
First class securities are difficult TO get. The
society is not receiving applications for loans on
high class real estate as rapidly as 1t would IKE
TO get them II has money to invest. and Is
anxious to take il out OF the banks and put 1t
into mortgages. The policy of the society here
after will be to make it easy for good people TO
borrow money from IT on high class property.
FAvORs MORE PUBLICITY.
Ia the case of deferred dividend policies
Henry r. Prewitt the commissioner from Ken
lucky, expressed himself strongly in favor of
regular publication of the earnings of the COM
panies Then man would know what he might
fairly expect, instead Of waiting for fifteen or
twenty years. TO be too often disappointed in
the end. He said:
There IS a law against us1ry and another
against excessive railroad rates, and I do not
why the legislatures should not step in and
make this reform As matter of fact, the NOR
salty rate is continually overrunning the eI-
rectation. and that is the reason why such large
surpuses have TO be accumulated, and it would
be a good thing if there was more publicity
don't know whether shall see Superin-
tendent Hendricks in connection with our in
vestigation- We saw him on one of our former
visits and were much impressed by his indie
rendence and honesty. If he overlooked irregu-
1arities it was proba bly, due to his failure
TO recognize their importance than to anything
else. We cannot, however, rely entirely on his
report. OF course we shall consider that well
rs the findings of the legislative investigation OF
this State but are as much responsible for
the investigation of all companies doing business
IN our own States as with our home companies.
and il is only because we have other work at
home that we recognize the examinations or
other State departments
At nresent only the New-York Life Insurance
Company viii be inspected, as they will be
Obliged TO take the companies one at q time
The following insurance commissioners met
st the Hoffman House: r. E. Folk chairman;
Henry r Prewitt. of Kentucky; Zeno NJ Host
of wisconsin: Thomas .. O'Brien. of Minnesota,
and John L. Pierce of Nebraska
In speaking of the results of the insurance
scandals the commissioners said that the pub
location of the internal corruptions Of the larger
ranies.
w ] Clay. OF Texas, is reported to be in
town end about to investigate the a!legeq appar-
ent conflict of various New-York Life ofhcers as
TO the companys Republican campaign contri-
buttons In 1895.
y