The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-25
GRAY FOR ALEXANDER 'SPLGCE
DELAWARE JUDGE SAID TO BE
FRIOK COMMITTEES CHOICE.
J. !. Hin Net Active WITH the Investigators
-FFick's Ties with HArriman-POlicy.
holder Brings Ownership Of the sur
plus Before United states Court.


plus BefOD United states Court.
Several important disclosures we're made
yesterday in the Affairs OF the Equitabls
Life Assurance Society, the two most In
teresting perhaps being:
Frst-That the members OF the Frick
committee have about decided TO ofer the
presidency Of the company to ex-United
States Senator, now United States Circuit
Judge, George Gray Of Wilmington, Del;
and
Second-That James j. Hill has declined
| from the day Of his appointment 10 act With
the members OF the committee in the stock
holders investigation" Of the society's ar
fairs. or in any way TO participate in that
investigation, and thereby hangs a tale.
JAMES ). HILL KEEPS our or 1T.
On the day that the Prick committee was
named to make this investigation MIR Hill
for the first time in years turned up at tho
meeting Of the stockholders Mr.. Hill had
been a stockholder and a large policy
holder in the society for twenty-five years
and he listened to the speeches Of tho4e
present. Young Mr. Hyde spoke for tho
stockholders; 80 did Edward H. Hartman,
although he holds but FIVE shares through
the escrow arrangement with young MIR.
Hyde. aud Is a polcyholdcr Of six weeks
standing Nobody has disclosed the amount
Of the policy or the name OF the medical
examiner Of the society who passed Mr..
! Hartman. Gage +. Tarbell spoke for the
J agents, and finally Mr. Hill make a speech
| to the effect that inasmuch as the stock
holders and the agents had been repre-
sented In the meeting he thought Il would
be a good thing II the 600, 900 polcyholders
who supplied the income Of 500 900 900
annually 20 the society could have a word
said for them. They represented, he said,
the real backbone Of the society far more
than any stakeholder or any ret Of stock
holders, for without them the value Of the
stock would be little or nothing and the
Equitable would be but a name.
Mr., Hill promptly got himself disliked
for pnesuming 10 speak up for such humble
persons as the policyholders, and although
he was put on the Frick committee, he saw
that a majority Of his associates were
more interested for the stockholders than
for the policy holders, and he quit.
PRICK RETAINS KNOX.
II was learned yesterday that Mr.. Harri-
man himself wanted to be chairman Of the
stookholders committee, but this was
thought TO be inAdvisable, and 80 Henry
G. Frck was put at the head Of the com
mittee and he promptly retained ex-Unitsd
States Attorney General, now United States
Senator. Philander c. Knox Of Pittsburg
as counsel for the committee, which ls not
10 make report OF its Investigation for
another month,
Meanwhile Supt Hendricks's investga-
ton as conducted by his chief deputy
m L 4 IL
ney- General Mayer refuses to give decision
in the petition OF a dozen policyholdsrs
for permission to bring suit against the
society or TO hand over to Supt. Hendricks
OF the State Insurance Department re-
port on the proposed amended charter
agreed 20 by young Mr.. Hyde and his
friends with the investigation committee OF
policyholders, Gov. Higgins refuses 70 see
to 1t that the Insurance Department carries
out the function for which it was estab-
lished-the protection OF polcyholders and
the preservation Of the financial integrity
Of the State in insurance matters-and
all this delay and procrastination is eE-
pllined by the statement that the author-
ties at Albany are awaiting the report Of
the Frick committee, which Is not to be
made for a month at least,
PRICK STANDS FoR HARTMAN ELSEWHERE.
Since the appointment Of Mr.. Frick to be
chairman OF the committee. after it was
thought ineIpedient OF inAdvisable 10
name Mr.. Hartman, efforts have been made
to get at the relations, II any existed, be-
tween Mr.. Hartman and Mr.. Prick and
the nterest IN this matter came from the
desire OF the policyholders to understand
lust where they are at and II the control
Of the stock OF the society is TO be put in
the hands Of men whose connection with Il
will be a guarantee that thorough house.
cleaning has taken place.
Chairman Friok IL one OF Mr.. HarrimAn's
right hand directors In the Union Pacific
Railroad Company, on whose securities
the Equitable has made heavy loans, and
OF which 1t has made gigantic purchases
hnce Mr.. Hartman became associated
with young Mr.. Hyde In the management
OF the society's finances. Several months
ago. when the Union Pacific directors pur-
chased $500 shares Of Atchison, Topeka
and Santa rs railroad stock, Mr.. HArri-
man Of the Union Pacific demanded OF tbs
AtchIson directors that he be made a
director on the Atchison board The
directors Of the latter road Victor Mora
vetz Of New York and others, declined
Mr.. HarTimans proposition. They didn't
explain 20 him the reason, but Mr.. Hsrri-
man. It was explained, has way Of getting
into directorates and instantly attempting
10 seize the reins OF management, Just as
he has done in the Equitable. and his oon-
duct had been 20 Objectionable on this
score that the Atchison folks said 10 him,
NO, we can't take you as a director, but
in view OF the purchase Of the 5000 shares
Of Atohison stock we will permit you to
name a director In our board
Il name Henry G. Prick replied Mr.
Hartman, and 20 Mr.. Prick h Mr.. HArri-
mans representative in the Atchis6n board
Of directors. All this was told not Ia
criticism Of Mr.. Prick, but 10 order 10
demonstrate the intimate ties which have
bound Mr.. Hartman and Mr.. Prick and
because Of the struggle that u now a house
hold word in America and Europe on tho
part Of the HArTiman-Hyde directorate
Of the Equitable 10 hold on TO the manage
ment Of the Equitable's finances and tho
handling Of the 100000 annual revenue