The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-10
NEW HEADS ARE FLAYED
New York World Calls for State Prob
ing of the Equitable.

NoW LUX WoIlu CE1lS ZOE STATE FrOD-
ing of the Equitable.
New York Sun Special Service.
New York, June 10.-The World this
morning, in an editorial entitled "What
a Compromise has the following to
say of the outcome of the Equitable
quarrel:
Thomas F. Ryan has bought James
Fl. Hyde's stock in the Equitable Life
Assurance society. Mr.. Ryan is one
of the choice spirits in the Consolidated
Gas company. and the Metropolitan Sc
curities company, two corporations no.
torious for their corrupt alliances with
corrupt politicians .r.t. .~;
Mr.. Ryan has elected Paul Morton
chairman of the Equitable board. Mr..
Morton is a self-confessed violator Of
the interstate commerce law, and is the
distinguished gentleman who used to
manipulate the rebate business for the
Atchison, Topeka & Santa Fe Railroad
company. a-,. .. 3. --..r
Lacks Brady and Murphy.
Alexander, Hyde, Tarbell, Wilson and
Mcintyre have resigned. In place of
them the policy holders have Thomas
F. Ryan and Paul Morton. What COM
promise! The exalted, ethical element
in life insurance could hardly achieve
more triumphant victory unless An
thony N. Brady and Charles F. Murphy
were taken into the syndicate. u.
The par value of the stock for which
Mr.. Ryan has paid several million dol
lars is $50,100. Under article of the
Equitable IS charter, "the holders Of
the said stock may receive semian-
ual dividend on the stock so held by
them not to exceed 37a per cent? The
sole honest income which the purchaser
can legally derive from this investment
lof Of Iol1 ic
His object is thus Of great public in
terest.
Rich Aid for Transit Plans.
Mr.. Ryan, Mr.. Morton and their asso-
ciates are promoting a vast scheme Of
New York. The prospective investment
is estimated at $150,000,000. The as
sets Of the Equitable Life Assurance
| society are $400,000,000. It is obvious
that great life insurance society might
be a valuable annex to rapid transit
| company.
| Mr.. Ryan has invited Grover Cleve-
land, Judge M. J. O'Brien and George
Westinghouse to act as trustees of the
are eminently respectable gentlemen
Like adversely, responsibility also has
1 it's uses.
without discussing Mr. Ryan's mo-
tives in acquiring this Equitable stock
which can yield him only $4,000 year
in legal dividends, the World can only
say that the necessity for legislative in
| vestigation into Equitable corruption if
more acute now than ever.
| evil They Trace Loot?'
! Will Thomas Ryan and Paul Morton
restore to the policyholders the million.
of dollars which have been appropriated
by Equitable fnancierss
Will they trace the loot9
Will they bring suit against Mr.
| Hyde, MI. Alexander, and the Other
members Of Equitable syndicates to re
cover the money to which the Fricl
committee reported the policyholders
are entitled?
| Will they force reimbursement from
the Equitable IS chain of banking ant
trust companies of the profits which be
long to the Equitable policyholders9
i Will they punish the guilty. and com
the innocent?
1 Will they destroy the political insur
ance system which made Equitable cor
ruption possible9
4. Heritages in Ryan's Hands.
Are the policyholders to accept in ie1
of restitution the moral satisfaction o
! hnOWlAS tuStt Vie oIt VIC WAuOf
and orphan is now in the hands of sue
, eminent philanthropists as Thomas T
&, Ryan and Paul Morton?
Will Mr.. Morton again do as tn
Romans do7''
i is there to be an alliance of tn
s Equitable Life Assurance society, tn
Consolidated Gas company and the Met
! ropolitan Securities company to protec
the savings Of the "plain people7''
s. The sooner Governor Higgins con
4 to investigate Equitable corruption an
the life insurance situation, the soone
he will have performed the most solemn
the most sacred duty that any governo
|. of New York has ever owed to the PEG
pie Of the state. Can he longer delay
Chicago, June 10.-Members Of the Interna
tonal Typographical union whose SonS yer @
, | printers is in session here. are hopeful {
! | carrying their point, according to Presider
Hr " - ~ s~ frnd that fha vxo