The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-20
New York Sun Special Service.

New York Sun Special Service
New York, July 20.-Friends of Sen
ator Depew welcome the announcement
that the senator has decided to aban-
don his vacation abroad, return to this
country and reply to the charges
against him in connection with Super
intendent Hendricks investigation Of
the Equitable scandal. They were con-
fdent he would make a sturdy defense:
Just what he did for years as coun-i
sci for the society at a salary Of $780,
900 year doubtless will be one Of the
first things the senator will explain;
also how far he guaranteed the loan
made to the Depew Improvement COM
pany, on which deal the Equitable sus-
tanned considerable loss.
Thes Loans Thru Depew.
In his testimony before Superintend
ent Hendricks, Senator Depew said he
had RECOMMENDED this loan, and
voted for it as Director He also
said that he found out, after the Eqult-
able lost on the transaction, that he
He said he was not illegally" respon-
sible for the repayment.g
When the senator sailed on June II
on the st. Louis, he had not been de-
prived of his 100000 job as counsel for
/ the society. Neither had the testlmo-
| ny taken by Superintendent Hendricks
been published. Neither had the pub
lie learned generally of the loan to the
DePfT nre5an he zsn ed%p1n IS in Paris
He had been at Aix-les-Bains and
was interviewed there. He announced
positively within the week that he
would not curtail his vacation because
of the Equitable scandal. Since then
papers from this city containing fuller
details than those cabled have reached
him and he has changed his mind. He
will sail from Cherbourg next satur-
day, and is due in this city the sue
:, -" High Equitable Men ILL.,. 81, H. =
Thomas D. Jordan, who has Just
| been removed from the controller
ship of the Equitable Life Assur-
ance society, which Office he had
| filed for decade, is reported to be
seriously i'll at his home in Englewood,
| N. J.. He went home late yesterday
| suffering much from the heat. and in
the evening a physician was called. It
on the verge of nervous prostration.
| No change is reported in the condi-
ton Of James W. Alexander, who is
patient in q private sanatorium near
Babylon, L. I. Attended by nurse,
he is now able to spend some time daily
in the open air. --- as
It is understood that the first Off
against former. officials of the Equit-
able society will come lipsin the form
Of suits TO be. fled this week, by At
torney General Mayer. Actions Of va
rious kinds are in the course of prep
aration and will be led by a suit for
an accounting, directed against the old
board Of directors. -
Hill and Hartman Called. ...
Among the directors to be called to
the bar of the court are James W. Alex
Hyde, Jacob H. Schiff, E. H. Hartman,
George J. Gould, August Belmont, Cor,
nelius N. Bliss, Charles S. Smith, Bray
ton Ives, A. J. Cassatt, D. O. Mills, Al
fred G.. Vanderbilt, Valentine p. Sny-
der, John; A. Stewart. John Jacob AS.
1 tor, Robert T. Lincoln and all the other
I members Of the old board, regardless
4 of whether they have resigned since
q Thomas aFl.sI Ryan bought control OF the
i societY: = AS dire tors they weresrespon:
4 slble for the conduct of the company
4 Investigation having disclosed that
/ funds belonging to the policy holders
have been diverted, the attorney gen
them to give an accounting Of what
they have done. 1.sss@ -
i Ousted in Disgrace.
7 Thomas D. Jordan, controller Of the
! Equitable Life, was dismissed from his
4 office by Chairman Paul Morton in a
! manner that implied disgrace. Mr.. Nor,
4 ton gave out the following official an
4 nouncement:
$lFstE n L =
I controller and William A. Day, at pres
ent assistant attorney general Of the
1 United States, has been appointed act.
q ing controller. The reason for Mr.. Jor,
dams removal was his refusal to ffur-
nish' me information regarding i'm.
portant transactions Of the society
which, am Investigating. :,
This summary action is one Of the
first results Of the exposure Of the
Equitable's loan account of $685,OOO il
the Mercantile Trust company, which
was carried in the names Of President
Alexander and Controller Jordan as
trustees.
Chairman Morton sent for Mr.. Jor
dan to obtain a record Of every pay
ment made thru this secret account
His refusal to furnish this information
led to his dismissal.
Means to Personal Graft.
The statement was made today BY
an investigating lawyer that lit wal
thru this fund the greatest persona
graft in the Equitable was taken
There has been strong suspicion thai
payments in settlement of the scandal
GUS shipbuilding trust suits were made
therefrom and likewise lobbying bill.
; and accounts of various kinds tha-
would not bear the light of day.
, When the publication Of the testi
mony taken by Superintendent of In
surance Hendricks drew from him ;
statement of the existence of this ac
g|3count and of his inability to obtai,
: any information about it, Chairmal
) Morton started rigid Investigation
: He could not communicate with forme
: President Alexander because Of tina
gentleman''s illness. So he went fo
Controller Jordan, the other truste
named in the books.
i No Record Of Big Loan.
There is no record in any Of tn,
books of the Mercantile Trust COMPANY
, Of the $6S5,000 loan,. to which Horac,
G. Deming, president Of that company
!. testified before Superintendent Hen
bricks as having been carried by TIL
. company for five or six years in tn
: names of President James w. Alex
ander and Controller Thomas D. Jordan
of the Equitable Life as trustees. Thi
announcement was made today by Stat
Bank Examiner Judson, who has bee
4 MAKING a. rao111ar semi annual inSnncfio1