The Oskaloosa herald., 1905-06-29
EQUITABLE PROBE
TO STRIKE Deep
GOVERNOR or NEW YORK READY
TO TAKE ACTION.
FULL INQUIRY TO BE MADE,
cMclsls ef ths sesisty wit &c Made
10 suffer II Evidence 10 Strong
Enough 20 Establish
Their Guilt.

New York, June - The regular
summer vacation Of the court Of gen
eral sessions will be suspended thl,
year 30 that the court may be available
~ District Attorney Jerome begins pros.
ecution in connection with the affairs oi
the Equitable Life Assurance society
This action was taken upon the request
OF District Attorney Jerome.
District Attorney Jerome, In making
his motion TO suspend the courts vaca
tlon, said he had ~ letter from Gov. Hig
gins offering TO place the evidence OBJ
tained by Superintendent Of Insurance
Hendricks at Mr.. Jerome's disposal. Mr.
Jerome added:
"It is my desire TO have that evidence
and It Is my intention to go through II
very thoroughly.
Investigation Mandatory.
",The widespread attention called to
this matter makes IL mandatory upon
me TO make an examination Of the whole
affair am not in a position 10 know
at this time whether there has been
q violation Of the law, but 1t Is my duty
10 find out. Before the governor ad-
dressed his letter to me had the matter
under consideration having sent for a
copy Of the official report Of the inyesti-
cation. II may be that th re is nothing
IN this affair 10 call for the action Of this
court.
1T is unusual for the governor to ad-
dress such a letter as this 10 the district
attorney and IT focuses public atten-
ton upon me. have made arrange
msuts with Justice Dayy, Of the Grim
inai branch Of the supreme court, and he
will continue the June term Of that court
through the summer The powers bf
both courts can, II necessary, be invoked.
IL win take me some time TO learn
whether / Will need the assistance Of the
courts or not"
First Case in History.
He was Of the opinion that separate
actions would be taken, one for the res.
utution Of funds WrougfulIy ELECTED
and another for the debarment proceed
fngs against officers Of the society. In
commenting on this phase Of the gitua.,
Iion Alr. mayer said:
This is a novel action. and It Is (he
FIRST time in the history at the state Of
New York where debarment proceed
fngs against the officials Of an insur.
ance company win have been taken.
Under the insurance law, the applica.
ton Of which has never yet been put In
practice, the attorney general has the
power 20 debar officers Of an insurance
company who have been found dere-
Iict In their duty, and this debarment
not only precludes them from holding
positions az officers, but also debars
them from acting as directors not only
in the company from which they have
been debarred but from any other In
gurance company doing business with.
IN the confines Of the state and the at,
torney general ig the one 10 enforce the
sction."
Hyde willing TO Aid.
James II. Hyde, through his counsel,
Samuel UDtermeyer, has indicated to
Attorney General Mayer his willing
ness 10 facilitate the attorney generals
proposed suit against James II. Hyde
and associates" for lie return of the
profits received by them In the gyndi-
Gates transactions in which the Equl.
table society was involved. Mr.. Hyde
informed the attorney general that his
counsel was instructed several weeks
ago 10 begin friendly suit against the
society for the return Of $G3,233.31, his
profit in the syndicate deal, which he
already had turned over TO Cashier
Murray Of the society az custodian,
pending the determination OF the own
ershiD OF the fund. In view of the fact
that the attorney general Is about TO
bring suit involving the same points.
he felt that such action would be en-
titled 10 preference, and II could
therefore be more speedily settled. He
would very much prefer, IL agreeable
TO the attorney general, that this course
De taken. Mr.. Hyde said he was most
anxious for an immediate determine
tion Of the question Of the ownership
of this fund, and ~ he ig right, as ne
believes himself to be, relieve himself
by the judgment Of the court from the
criticisms that have been leyeled
against him in the report Of the super.
intendent, which he regards as most
unjust and based upon total misgap-
prehension Of the law and facts At
tSrney General Mayer informed Mr..
Hyde that be viii avail himself OF the
offer 10 expedite an immediate deter
in regard TO the matters, and
that such steps az may be necessary
will be taken BY him az soon as posi-
Ble.