New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-13
OFFICERS MUST ANSWER.
QUESTIONS TO BE PUT.
FHcE Equitable Probing Committee
Tells Scope of Inquiry.

ciety, the committee OF seven appointed AT the
last meeting Of the directors OF the EQUITABLE
Life Assurance Society has sent to President
Alexander through Henry c. Frick, its chair
man. request for detailed information cover
tng the society's expenditures for salaries. in
vestnents and perquisites with expenses of
every kind. since 1900. Information concerning
the soeiety's dealing and holdings in stocks. its
contracts with leading agents. and the politics
by which employees obtained or retained their
places. is demanded by the committee
The schedule submitted, says Mr.. Frick IN
the letter. dated April s. in the opinion Of the
committee. covers all the charges and counter
charges made against anybody but if there is
knowledge by any one Of anything else which
should be investigated. the committee would be
glad TO learn Of it. All employees should take
advantage OF this opportunity to inform the
committee fully and frankly Of any facts con-
cerning the subjects under investigation writes
Mr.. Fricll for they viii be protected. Their
duty 10 the society now lies in their aid toward
making the investigation as complete and ac-
curate possibla
The committee esks specifically for infOrma-
ton about transactions since January l, 1900
because Of the great task to audit the docu-
ments necessary TO its work, but if anything
prior 10 that date comes TO light which would
warrant examination, the examination viii be
ton VIII be analyzed and tested. his letter says
and in addition separate and independent exam
inations viii be made by the committees eX-
perts. copy OF the letter should be sent TO
the heads OF all departments, Mr.. F'rick says.
The plan OF investigation outlined by the COM
mittees requests for information promises a
thorough probing for the society OF all the
charges made by both sides in the struggle for
control OF the assets. This in estigation how
ever. viii be IN secret. and the only result of
It the public is likely TO viii be the formal
report The committee VIII receive testimony
TO show whether exorbltant salaries are paid 10
incompetent employees or those who don't work.
and whether employees obtained their places
through favoritisn. The committee intends 10
take UP the assertion that directors Of the society
'tockeyed" investments in stocks for their own
benefit and formed subsidiary companies. like
the Equitable Trust Company and the Mercan-
tile Trust Company, taking up their stock with
Equitable money, and forming fat jobs for
themselves. The charges that favored directors
were able 10 obtain loans in questionable ways
viii be investigated.
Members Of the committee would not say yes
terday when the actual investigation would be-
gin OF whether the officers OF the society would
have 10 testify personally. Cornelius \. Bliss
declared that he intended 10 continue the policy
ef silence outlined by the board.
President Alexander has sent to the agency
force long letter commenting on the present
didlculties OF the society, Including an invita-
aon 10 the managers 10 attend a general con-
ference" with him next Tuesday. He speaks
of the interest he has taken IN the mutualiza-
ton plan. Hyde people see n this conference
an attempt on the part of Mr.. Alexander 10
seize the control OF the agents through their
chiefs and win them 10 his side in the con-
troversy-
President Alexander may become the defend
ant in a proceeding for breach CT trust. 1t
was learned yesterday that Mr. Hyde's advisors
had discussed seriously the wisdom Of asking
that he be removed as a trustee Of the Henry
B. Hyde estate Such action would be based
on the assertions of Mr. Alexander's lawyers in
the LORD suit. that the Equtable's stock, Of
which he is a trustee, had value other than
its per cent interest, with no interest in the
surplus Such assertions by trustee were
manifestly uniting II was contended.
WHAT THE COMMITTEE WANTS.
The action of the investigating committee was
decided on al a meeting at which were present
Messrs Hartman. Bliss. Ives. ingalls, and
Frck There Il was determined, wrote Mr..
Frick 10 obtain from President Alexander. in
duly verified" by himself and he heads Of the
various departments, copy of Tie present pay
roll Of the society. with statement showing in
detaL the following facts:
The name Of each person in receipt Of any sal
sry or compensation Of any kind from the society;
the amount of such compensatiOn when. how and
70 whom paid, with a copy OF the form or vouchers
o. any, used in the payment, ana the FORM Of re-
TIE date when each person was FIRST employed.
the cspacty ane duties Of each and the name OF
The person or persons who employed each
II there has been any increase IN s4leh salary.
wages or compensationi the increase When mace;
by whom ana why: i any employe mas any business
relation with any other company IN Nhlch the sOci-
ely has stock or any interest: the name ot suc9
smpioye. his position with ne ether company ana
HE compensate received therefor -..,
any emf-oye IN any manner Le'tIe =, 5t ~
sach other company than his salary stated com
and how received: for how long. and what officer
q the society authorized the samS
@2o % ne enPlo1es m az eTs or pTincipSi Of
noers heads Of departms q - the degres 81 i sgch
nenr t5 Whom are Talated lies
II any such persons are employed in services out
Ede Of TIE oflces and ordinary departments ana
agencies 81 the society the facts length showing
The name OF tie person the one who employed MINI
how long such employment mas Iastea; 5,e+a "A ner
so1s from lie president Of the society do n. in
Guiding ne highest and lowest eaPloye' ~ i fbe SO
ceiy and al others whose services are, or nave
sse seh g5osssloai OF 10y oders u OF The society
and every person who IN any way or for any reass
the society since January J. 1900 including april J.
~ ~ not Including poley y,, ao!oeiS OF INC
defsllgd statement OF an moneys or other prop
sliy q the society paid out by me sCclt'y si Tv
empioye including all officers, trustees or dLsctoas
other expenses Of any kind. showing on whose ac-
count me same was paid when. who paid II, VINO
a detailed statement oe the holdings or interest
q the society in the Mercantile Trust IoihPa.g A -
York and the Mercantile Safe Deposit Company 81
As~aork and IN any other lE9st l Gi l4c o,nnsTv ~
hith this statement give the cate W. wlen ,tboT Stg