Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-07
THE EQUITABLE CASE
HARTMAN FACTION FAILED TO
YIELD EXECUTIVE CONTROL.
Selected With Others to Thoroughly
Investigate Financing of Society
Plans Adopted.

The 100000 policybolders of the Equitable
Life Assurance Society will read with
varied emotions this morning the official
announcement from New York that among
those who are to thoroughly Investigate
and report on the present management of
the society is Edward H. Hartman, poll
cyholder in the society of six weeks stand
ing, and whose shares in the society
amount to five, which were transferred to
him by James Hazen Hyde.
There is grim humor about the selection
of Mr.. Hartman which only those familiar
with every detail of the loans and pur-
| chases of Hartman railroad securities with
in the last three years will fully appre-
ciate. The record of these loans for the
years 1904, 1913 and 1902 is all known. Just
how they came to be made is also known
Nobody knows how they came to be made
better than Mr.. Hartman, and nobody
knows just why they were made, especially
in 1902 and 1893, better than Mr.. Harri
man.
1908 Experiences Recalled
Mr.. Hartman and his friends. it was
remarked yesterday by those familiar with
the facts concerning these loans, will ever
remember 1903. They will not fail to re-
call just why the records of the Equitable
Life Assurance Society for the years men,
toned, and especially for the years 1907
and 1903, are weighted down with loans on
Hartman properties. Those familiar with
those strenuous days did not hesitate to
point out yesterday, when it became known
that Mr.. Hartman had been appointed as
one of the committee to investigate and re-
port on the management of the society,"
that the selection of Mr.. Hartman was q
good deal like the system of high finance"
which has been going on under the Harri-
man-Hyde directors.
Mr.. Hartman ono of tho coproittae 10
investigate and report on the management
of the society. will be to the forefront when
his brother investigators begin TO scrutinize
the loans On Hartman properties made in
1902, 1903 and 1904 and to ask questions as
to how the Hartman loans, or rather the
loans on Hartman properties form the
principal features of the loan account of
the Equitable society for the three years
mentioned.
Hyde's Objections.
According to the reports that We're cur
rent after the meeting, the Hyde people
heard that the men likely to be presented
by the policyholders' committee for the
two places on the executive committee were
Frank H Platt and Bainbridge Colby of
the law firm of Alexander & Colby Mr..
Plat is counsel for the policyholders' COM
mittee and has taken most active part
in the committee fight against Mr. Hyde
for naturalization Mr.. Colby Is President
the Hyde forces declared, would never do,
in spite Of the fact that the power of ap-
pointment by the sommitsfe We left at
So Mr. Hyde asserted himself in the board
Mr.. Alexander, it was said, APPRECIATED
that he was In the minority and rather
than have the matter of the appointment
of the committee come to "a test vote he
acquiesced in the boards decision.
Hyde's Future Efforts.
Mr. Hyde's efforts in the immediate. fu-
ture. 1t is said, will be directed now to in
fluencing the Crimmins committee to re-
frain from making any selections that will
be distasteful to him. He knows that the
chairman of the committee, John D. GRIM
minis, does not regard him unfavorably,
and 1t was said last night that there is
another member of the committee Of whom
Mr.. Hyde has hopes.
For the majority of the policyholders'
committee it said last night that they
would undoubtedly continue to insist on
the acceptance of the plan in full, as con-
Cured in by Mr. Hyde before the superin-
tendent of insurance last Saturday. Mr.
Hyde, it was declared last night, will prob
ably insist, at least, upon knowing the
names of the men selected for the execu-
tive committee by the policyholders COM
mittee before conserving to any action
favorable to the plan in the board of d.
rectOrS.
Hartman to Investigate.
Besides adopting the two-year mutualiza-
ton clause and appointing a committee to
confer on the suggestions relating to the
executive committee reorganization, the
board passed a resolution calling for the
appointment of committee, to be made
up of Cornelius N. Bliss, D. o. Mills H. c.
Prick, E. H. Hartman. Brayton Ives, James
J. Hill and NJ. E. ingalls,. charged with the
duty of Thoroughly investigating and re-
porting upon the present management of
the society" This committee contains two
Hyde men, E. H. Hartman who himself
stands accused of being the head and front
of the offending in the management of the
society's business, and Mr.. Prick, two
Alexander men, Mr. Bliss and Mr. Ives, and
three nOn-factionists. When this COM
mittee would begin it's work. or what would
be the scope of the investigation, could not
be learned Yesterday