New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-12
THE EQUITABLE INQUIRY.
H.R. WINTHROP TESTIFTES
Messrs. Hyde and TarbeH Also Ear
amined-Purcbases from Syndicate.

uUttftCU UI IftAoIo I'O'S ~ y
Testimony by Henry Rogers Winthrop. as
sistant secretary Of the Equitable Life Assur-
ance Society who is also secretary OF the eX-
ecutive and finance committees, occupied yester-
day at the inquiry OF superintendent Hendricks
Of the State Insurance Department The minute
hooks OF the two committees of which Mr. Win
throp is secretary, showing purchases by the
Equitable Of securities and the debates IN me
committees regarding those purchases. were eA-
hibits.
In the Lord suit il will be remembered, James
II. Hyde interviewed. and through Samuel Inter
rnyer. his attorney, announced his desire TO have
the naturalization plan carried through, put
according to law. IN other words, he insisted
on the consent of ttree-ffths Of the stock being
registered IN favor of amendments to the So
cietys charter, and opposed the position taken
by President Alexander through his attorney
William B. Hornblower. that under Section %
of the insurance law the directors could mu-
tualize the society without reference Of the plan
TO the stockholders. It was said yesterday that
IN addition TO the 5O2 shares of Equitable stock
held by the Henry B. Hyde estate, James H.
Hyde personally owns about two hundred shares.
which had never been transferred TO his name
on the society's books. The total of these two
amounts, about seven hundred shares, is well
IN excess of three-ffths of the whole number of
shares. so that Mr.. Hyde could at any time 1t
is asserted. If he chose. put through the plan
Of naturalization. The holdings Of President
Alexander and his associates are said to aggre-
gate about seventy shares which. added to the
Hyde estate holdings. would be less than three
ffths Of the whole one thousand shares.
The examination was interrupted at luncheon
time. so Winthrop could gather other documents
and compile some figures regarding profits which
Mr.. Hendricks required Meantime, meeting
OF the executive committee Of the society was
held at which the warning factions met Lunch
con- served in the board room, saw the invest
gators represented by Mr. Frick and the in
vestgated eating together peacefully.
Mr.. Winthrops testimony chiefly in eX-
PLANTATION Of the records which he produced and |
the transactions of the finance department of |
the Equitable OF which he is the manager. Mr.. |
IIendricls's questions and those of his counsel |
it is understood. were directed toward finding |
out what purchases were made by the society |
from the underwriting syndicate of James H. |
Hyde and associates. Mr. Hyde's personal con-
nection with the various corporations whose Sc
curitfes the Equitable holds was explained.
Mr.. Winthrop was asked, It is reported, to tell |
what directors were interested in the subsidiary |
companies of the Equitable and what profits |
each had made from the interchange Of bust |
ness and the sale of securities to the society.
Hunter went to the office of |
Thomas D. Jordan. the controller of the society, |
where they held a long conference. Books and !
papers of the Equitable We're examined
1t is not certain that there will be a hearing |
to-day. Superintendent Hendricks and his
counsel both want TO get back TO Syracuse. Mr..
Hyde and Gage E. Tarben were examined for
a short time, it was said Ie the inquiry con
tinues to-day Mr.. Hyde and Mr.. Tarbel may be |
recalled Jacob H. Schiff and E. H. Hartman |
are scheduled for early witnesses, it is under |
stood.
Papers in the suit by Mr.. Hyde and William |
H. Mcintyre TO remove President Alexander as |
trustee of the Hyde estate will be served TO- |
morrow or early next week, ii IS believed II is |
said that in the complaint there will be an aft
daV1t by MI HYDE denying that any part of the |
expense of his fancy dress ball at Sherry's was
paid by the Equitable and charged to adver-
Conferences were many yesterday President
Aexander kept in close touch with his lawyers
alexander & Colby c. b Alexander of Mr. |
iydes counsel, had long talk with Superin- |
endent Hendricks at his hotel early in the !
morning, after switch he went TO Mr. Hyde's |
.one, No. East 40th-st. There were gathered !
y. ID. Mcintyre fourth ce-president, and H H
Knowles, late supervisor of agencies for the |
equitable. This conference had TO do with the
eceht y Leroy Dresser shipbuilding suit
Late in the afternoon Samuel Unternver spent |
eEeTaI hours with Mr.. Hyde. who before that
dr DeDew, Il is expected, viii be a witness in |
superintendent Hendricks's investigation.
John D Crimmins, chairman of the policy
FOLDERS committee. said ii was reported that |
he conduct Of President Alexander in conne,- |
ion with the Equitable 6flcultv had showed 70 !
he financial world that n could not with pro
pretty retain his place head Of the society |
Later Nh Crirnmins deh.ed explicitly that he
had MADE any such sta lent.
Battle d. Marshall, cor sci for Colonel J. Will !
COX Brown. in the suit for a receiver for tho /
Equitable, now pending IN the federal conrt
sald yesterday that nineteen other policyholders |
had lnterNened 10 aid Colonel Brown I'm his ne |
lars regarding the suit, and they would inter-
Vene IN day or two. it was expected.