The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1905-06-28

DISTRICT ATTORNEY TO INvEs.
TIGATE EQUITABLE.
Officials LONG Since 0esd o. Re.
slSRea Siim Drawing Salaries,
Accordine to Repoet-Rsehts Of
Policy Holders to Dc Fought
Out In Courts.

New York, June 9S.-Foll0Wtng the
publication Of tho report Of superin-
tendent Of insurance Hendricks - to
the Affairs Of the Equitable Life As
surance Society. came the statement
that District Attorney Jerome has nm.
dertaken IN inquiry into the conduct
OF the society August Belmont has
rendered bis resignation - . director
Of the Equitable.
Attorney General J. N. Mayer has
arrived here from Washington and will
remain in town several days investi.
eating Equitable affairs. In an inter.
viaw Mr.. Mayer said:
1T 10 manifest that the people
throughout the whole country arc
profoundly interested in the affairs Of
the Equitable Life Assurance Society.
Therefore think II fitting to say that
appropriate steps will DO taken BY me.
"First, to accomplish the return 10
the Equitable Of any profits wrong
fully made or retained BY reason Of
trust relations or otherwise.
Second. To debsr from holding
office In this company any person who
has been faithless to his trust or vio-
lated any provisions Of law.
Third. To obtain an accounting
for any waste or misapplicstion Of
funds for any reason or BY anybody.
"There arc certain other matters Of
importance which I am studying, but
to which 1t would be premature 10 10.
fer in detail. It might, for instance,
be Of interest to the policy holders to
learn the character and the occasion
for some Of the legal service paid for
during the past few years. But above
all inquiries 20 to alleged delinquen-
cies, the greatest necessity Of the stu
alton 10 that the rights Of tho policy
holders in all repsects be ascertained
a. clearly and % completely and as
quickly and a. legally ~ possible. In
this and in other Particular l shall
try my best to obtain results"
A close friend Of the attorney gen.
eral stated that the attorney general
would have the rights of the policy
holders ascertained by the courts.
Attention was directed to the fact
that four Of the Equitable officers men,
TONED in the report Of State Superin.
tendent Of Insurance Hendricks a.
drawing salaries for the past I've
years, are no longer actively connected
with the COMPANY. e. W. Lambert
appears in the report % q medical d.
rector with salary Of 396, 900 q year.
He died thirteen months age and yet,
according to the table his salary was
paid this year and last. Edward Cur.
tis. who figures - . medical director
at $l5 900 . year, resigned that posi-
tion eighteen months ago.
George q. Squire, who 10 now q d..
rector Of the company, 10 down on the
list - financial manager at $4,000 q
year, although b. r. Winthrop sue
ceedsd Mr.. Squire - financial manas.
or many months ago. J. B. Loring 10
recorded ~ registrar with . salary Of
$500 year. Mr.. Loring ceased to
perform active duties from the regis.
traEship in April, 1908.
Ofdcers Of the society said that pos.
sibly Mr.. Hendricks had gotten hold
Of An old list.
District Attorney Jerome has reoeiv.
ed . telegram from Superintendent
Hendricks stating that an official re-
port on tho Equitable society had boon
forwarded - requested.