The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-05-05
AWAIT RESULT OF
THE INVESTIGATION
Insurance Commissioners Hold
Short Conference
REPORT READY IN JUNt
TarbeIl Denies Rumor That He Pro-
poses to Start New Insurance
ompany-Alexander Can
Make Settlement.

New York May 4-After lengthy con-
ference today the insurance commission
ers of five states outside of New York
announced that they had informally con-
sidered the situation of the Equitable So
eiety. had talked with State Insurance
SUPERINTENDENT Hendricks of New York,
WHO had assured the commissioners that
the investigation as to the management
would be completed by June 10. and had
decided to await the result of this in
vestigation. Further than this official
statement the commissioners would not
discuss their meeting today The COM
missioner adjourned later this after
noon. The statement follows:
An informal conference of insurance
commissioners of states outside of New
York was held today at the Hoffman
House. The following commissioners were
present. Frederick L. Cutting of Massa-
ehusetts. Henry r. Prewltt of Kentucky
Zena NJ. Hout of Wisconsin, John C. Line
han of New Hampshire. and r. e. Folk
of Tennessee. Mr. Cutting was elected
chairman
THE conference discussed the contro-
NeTSy HOW BOlDB Oh DIS " inc EQiildDit
Life Assurance Society. superintendent
of Insurance Francis eHnGrieks and Depu-
ties Robert II. Hunter and Henry d.
Appleton of New York were invited to
meet the commissioners composing the
conference, and readily responded The
examination now in progress by the New
York department was discussed. Super
intendent Hendricks stated that it was
both an examination ant an investigation.
He gave 1t as his opinion that the ex-
animation whicl. means verification as
TO the financial condition of the society
would consume about five months, but
he further stated that the investigation
as to the management of the society and
the criticisms and charges preferred
would be completed much earlier and
a report made thereon In reasonable
time, not later than June Is, and would
be given Immediately to the various in
suranee departments and to the public
He assured the members of the con-
ference that the investigator would be
full. thorough and searching, and that the
facts as revealed would be given in his
report.
1T was the sense of the conference
there being an investigation now In pro-
gress by the New York department, that
the commissioners would await the re-
port of that department
1t was admitted that the conferences
were at an end as far as the Equitable
was concerned. The conferees will not
meet again to receive the report of DR.
Hendricks. as he has promised to send
the report to each one of them.
Among the interesting reports in circu-
latio ntoday. was one that Henry NJ
Alexander, son Of the president of the
Equitable. would succeed his father as
one of the trustees Of the Hyde stock
Henry M. Alexanders statement follows:
II have seen the statement In an even
ing paper to the effect that | will sue
coed Mr. James w Alexander as a trus-
tee of the majority stock of the Equitable
Life Assurance society. This statement.
manifestly inspired, looks to me very
much like a conscious misrepresentation
of the facts. As soon as I was informed
yesterday by Mr.. James w. Alexander of
his intention to resign his position as a
trustee of the majority stock sent let
ter to Mr., Hyde and Mr. Mcintyre. who
are the present trustees under the agree
men. declining to serve as a trustee under
the provisions of the tenth paragraph of
the agreement"
Gage r. Tarhell, second vice president
of the Equitable. today took occasion to
give positive denial to report that
he Is to retire from the society and found
new insurance company with a CAPITAL
of ten million dollars