New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-24
EQUITABLE PEACE TALK.
STATE INQUIRY GOES ON.
Ne1C Organization Is Formed to
Protect PoIcyhOlders.

Supplementng the official call for a meeting Of
the directors of the Equitable Life Assurance So
ciety on May 81, another letter was sent to all
directors yesterday by William Alexander, the sec
rotary. saying that the only business to be trans
acted at the meeting, aside from the usual routine
would be the reception of the Prick report and its
discussion. An urgent appeal that each director
attend the meeting was made.
That some kind of a peace plan" might be agreed
10 before this meeting a report yesterday
which, contradicted positively by the Hyde forces
met no confirmation from Mr.. Alexanders friends
reorganization of the Equitable into a concern
with neither stock control a directorate of
polcyholders. but trusteeship of eminent persons
VINO should guarantee the probity of their admin
lstration with their personalities set forth
MI Alexander and his lawyers would accept such
settlement. it was limited. Elihu Root of Mr.
Hyde's counsel, was inclined favorabIy to it, but
MI Hyde and Samuel Untermyer, his personal adj
wiser, had not decided TO it, said the report.
ms suggestion was understood to be somewhat
IKE the peace ideas of William Nelson Cromwell
4Gr' Ohtermyer and Mr.. Cromwell have had inter-
views 1t was learned, but nothing like a formal
conference representing both factions and the paci
hcators has been held. Mr. Untermyer is said to
nave taken the ground that any concessions toward
peace would be destructive of Mr., Hyde's inter
esoS' and not to be considered for moment.
STATE INQUIRY CONTINUES
Superintendent Hendricks continued his investi-
cation yesterday. putting on the stand Gage F.
Iarbell second e-presidert The sessions were
warm Voices raised in alteration could be heard
far out in the corridors Of the Equitable Building
While Mr.. Tarbell was under examination in the
morning President Alexander paced up and down
peIore the door to the board room. Joining Mr. Tar
pei the moment he came out, red faced and per-
turbed. They held an earnest talk but neither
would discuss the investigation
Mr.. Tarbeu will go on the stand again TO-DAY
ana possibly tomorrow. It is probable that after
his examination is completed no more witnesses
wiz he called Equitable officials believe that
ABOUT all the ground has been covered. Congress
man DrlsooH, Superintendent Hepdrcks's lawyer,
said that the inquiry had taken up the executive
olilcers' the financial management and the agency
department, and he couldn't see what more in
formation could be acquired
When Superintendent Hendricks made his report
II was said in insurance circles yesterday he would
enforce big reductions in the listing Of certain as
sets. The valuation OF some of the societys real
estate would be cut down 10 per cent II was esti-
mated, while there would DO a total shrinBage of
between 100000 and $l0O00.0O0 in the assets A
close examination is being made of the assets of
all the big insurance companies by the State In
surance Department. and the prediction is made
that there will be general squeezing out Of the
water"
MR.. TARBELLs EXAMINATION
The Interrogation of Mr.. Tarbeu was carried on
yesterday partly by Congressman Driscol from
great mass Of typewriter material containing
figures and suggestions These papers, it is re-
ported, contained data compiled by expert &C
regarding advances to agents specific
instances In which rebates had been allowed per-
sons taking out insurance Affidavts from policy
holders that rebates mad been given to them were
said to have been among the papers. and 1t in
curry about these cases and an alleged great in
crease in the cost Of obtaining insurance under his
regime which angered Mr.. Tarbell, It was said.
NEW POLICYHOLDERs' ASSOCIATION
The PoIcyholders' Mutual Protective Association
engineered by a firm Of Bridgeport lawyers, was
organized and officers elected here yesterday It
incorporated in Connecticut last Saturday. It's
objects to its members that their con-
tracts-life and hre-are secure: TO arbitrate dis
fire losses and guard the interests of the beneficial
ries under life insurance. 1t promises to prosecute
wildcat companies, attorney for Its mem
bers and obtain whatever Legislation they may need
membership fee of 81 win be charged, with an
assessment of 81 year for each 5000 of life and
each 10000 of fire insurance carried Insurance men
said that its objects and implied powers We're all
embracing possibly too broad for 1T to achieve
cess. The following directors were elected:
Daniel n. Morgan, eX-United States Treasurer;
John J. Cone, OF New-Jersey; John J, Phelan, Of
Bridgeport Mark T. WILDER. of the WILDER Mer-
camille Agency; Robert p. De Forest, eX-Congress-
man. Of Connecticut; Bernard Rolf, Cromwell G..
Macy and Edward w. Norris, of NeW-York, and J..
D. Toomey, of Bridgeport.
The officers are Daniel n. Morgan, president;
John J. Cone vice president; John J. Phean, of the
law firm which planned the affair, secretary and
treasurer, and Robert Z. De Forest, general coun-
sci.