The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-14
NO PEACE IN EQUITABLE LIFE.
COMMISSIONS RAISED BECAUSE
BUSINESS rs HARD TO GET.

The statement was made yesterday
by a man close TO Equitable Lfe Affairs
that II the investigation Of tho society
were pushed az thoroughly as II ought
TO be by both the State Superintendent Of
Insurance and the Hartman committee
Il would be found that more than $40, OO0, 900
ought to be refunded TO the society by
persons officially connected 'Nith IL who
have rsed the control Of the polioy holders
money to promote their own private en-
terprises in the last three or four years.
This amount. IL was said, would represent
approximately the profit which 1t is known
these men have made on transactions In
which the society's money has been used
by them, and, should the investiga CATION
develop the facts which, in the opinion Of
many, it ought to develop. there would,
this man declared, be no reason why the
society could not force the guilty persons 10
repay this money into the Equitable treas
ury
The remarks Of this man we're prompted
largely by the demand made in the letter
sent by the Hartman investigating COM
nittee to President James W. Alexander
for complete statement Of all the so
called underwritings by the society" This
phase Of the business activities Of the
Equitable board of directors has not up to
this time, been brought before the public
10 any extent but that IL will be eventually,
and with more amazement 20 policyholders
even than in the case Of the other iTregu-
laTities that have been made public, was
asserted by several persons yesterday,
That, however, is only one Of several
features Of the Hartman committee letter
which persons familiar with the situation
In the society interpreted yesterday TO
mean that there were other alleged lrTegu-
lArities IN the conduct OF the society's af-
fairs which have not yet got before the
public, but are known generally TO those
inside the society, For instance, II was
asked yesterday what was to be inferred
from the clause In the letter demanding
from President Alexander copies Of each
Of the leases or contracts by which the
society leases to any corporation or com
pany any portion Of it's holdings on Broad |
way, with statement of who authorized |
such leases and through whom each ives !
respectively made. Thus far no public |
charges have been made against officers |
or directors Of the society involving the |
subject matter Of this demand.
Little doubt was expressed yesterday |
that the Hartman investigating committee |
IN It's demand for information regarding |
hnship in the society meant a little slap |
at President Alexander, Mr. Aexanders |
cousin, Charles b. Alexander, Is head Of |
the law firm OF Alexander a Green. counsel |
for the EQUITABLE; 4. n. Alexander. a
Of the directors Of the society; Col. John ].
McCook, a brother-in-law Of Charles B. |
Alexander, Is another director, and William /
Alexander, another cousin Of the president,
IA secretary,
Il was announced for Mr.. Alexander
yesterday that he had received the letter
addressed to him by the committee and
that he would act upon its demands at once,
endeavoring in every. way possible TO give
the committee the information which it
seeks Orders were il was said, sent out
10 the heads Of all the departments early
yesterday morning, and by to-day the
process OF gathering the inio ON at will
arduous job is the opinion Of almost every
body connected with the society. II may
be a matter Of two or three months.
The fight will be on in the open again In
. few days with much bitterness az ever
and more publicity. Information TO this
effect WAS given out by supporters Of both
sides yesterday. when II became known
that the Hyde people, In accordance with
the limitations made on Wednesday, we're
talking definitely about bringing an action
against President Alexander in the Supreme
Court 20 have him deposed AZ a trustee Of
the Hyde stock on the ground that he has
sought to depreoiate the value Of the trust
estate. Some Hyde supporters went 90 far
IS to say that papers we're already being
drawn in the action, but Samuel Inter
myer, Mr.. Hyde's counsel, refused TO con-
hrm these statements.
Following the letter sent out by President
Alexander on Wednesday TO the agents
and managers OF the society, calling them
70 a conference In this city and soliciting
their support in the present controversy,
q letter by Gage f. Tarbeu agency director
In chief, to the managers was made public
yesterday. In this letter Mr.. Tarbel
offered to the cOmpany's general managers
and persons having direct contracts with
the society, in addition 10 the regular com
mission specified in the contracts, ~ on every
81 900 written. Il Is set forth in the letter
that, in consequence OF the controversy
existing within the society, II 8 agents have
been put to additional eXpen SO In gaining
business and that the extra remuneration
will therefore be charged 70 expenses.
The Hyde supporters asserted yester-
day that the apparent sotoitude In the
hitter for the mana gers and agents Is merely |
a blanket under which Mr.. Alexander and
Mr.. Tarbel make bid to bring into the
society a large number Of new policy
holders who would be willing TO give their
proxies TO the soliciting .agents' TO be used
under the naturalization plan. When
these statements were brought to the at
tsntion Of Mr.. Tarbel, he said:
The statements are perfectly absurd.
II IA purely a business proposition and
designed 70 help the agents over period
Of depression. The extra compensation
offered Is an allowance for the extra time
and expense that the agents arc put TO
Just now in obtaining business It is a
temporary move and will continue In effect
only during the months OF April, May and
June"
A. F. Woodruff. who represents Herbert
O. Tull Of Philadelphia and other policy
holders, il preparing papers in an action
20 petition the Supreme Court 10 enjoin
Supt. Hendricks from appro wing the new
naturalization plan and directing him to
set date for public hearing Of policy
holders. Counsel engaged on both the
Hyde and the Alexander side in the Lord
Injunction suit have expressed the opinion
that it would he impossible TO restrain
the Superintendent in this matter, Mr..
Woodruff charges that Supt. Hendricks
has refused him bearings and has not
answered letters addressed TO him IN re-
gard TO tho Equitable naturalization plan.
The further hearing in the Lord injunc-
ton suit. which was set for this morning,
In the Supreme Court in Brooklyn, will
probably he adjourned until Monday,
on the consent OF counsel for all parties
interested. William b. Hornblower, coun-
sci for the Equitable in the action, II was
said yesterday, had been called TO Virginia
on important business. The names OF the
new minority stockholders who are going
20 intervene were withheld yesterday, but