Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1905-12-09
DEPEW HASRESICNED
New York Life Chiefs Also
to Retire.
AFTER INVESTIGATION IS ENDED.
senator Chnun~y VI. Dcpew May
Quit His Federal Post and Go
Abroad-Hughes' Probe said
10 Have Gone Deep.

ACKNOWLEDGEMENTS Probe said
to Rave Gone Deep.
NEW YORK, Dec. T. The rcsigna-
ton Of Senator Cbauncey N. Depew as
director Of the Equitable Life Assur-
ance society has been received by Pres
ident Morton.
President Morton said that the res
ignaiion would be acted upon at a
meeting Of the directors on Dec. 81.
Senator Depews letter was very
brief. 1t was dated Washington, Dee
A. and was signed "The Hon Chauncey
81 Depew." The letter said:
u hereby tender my resignation as
director of The Equitable Life Assur-
| anee society"
Senator Depew's experience as a
witness before the Armstrong commit
tee is supposed to have weakened his
| determination to stick. Our rantan-
kerous friend up the river was blow
that he could not fend off. His admis-
sions of the part lie played In raising
salaries was not pleasing to his friends,
| neither were they satisfied with his eX-
| PLANTATION of what he did TO earn his
salary Of $4,000 a, year, which was
paid to him up 10 the time the Equita-
BILE troubles began.
| A persistent report was current in po-
| litical circles that Senator Depew had
prepared his letter of resignation from
| the United States senate. He was
deeply hurt by the sharp criticisms of
| his actions in the press of this state,
and the report had it that he intended
| TO quit politics and go abroad for q long
stay.
| Both President John A. Mccall and
| Vice President George w. Perkins of
the New York Life Insurance COM
| paby are going TO retire from office in
| that company. Mr. Perkins retire.
ment will probably take place soon and
| Mr. McCall's before the next annual
election of trustees in April.
| For several days there have been ru-
mors to the effect that Mr.. Perkins
contemplated retiring as vice president
of the company next April, but when
| he was questioned as to the truth of
| the report all he would say ON the sub
| ject was, Il have nothing 10 say"
| Mr.. Perkins will probably have
something to say to his fellow trustees
| at their next regular meeting next
week, for it was said by one Of his
| stanchest friends ON the board that Mr.
| Perkins some time ago let the trustees
| know that they could have his resig-
| nation
| There is and has been for some time
a division of opinion among the trus-
! fees Of the New York Life as to~the
| propriety OF having President Mccall
| or Mr.. Perkins resign while the legis
lative committee is still doing business.
| The trustees of the New York Life
| have always contended that whatever
| mistakes may have been made by eli
1 thcr Mr.. Mccall or Mir Perkins were
merely errors Of Judgment. Nothing
in the way of syndicate transactions
Injured 10 the benefit of President Nc
Calls or Vice President Perkins
pocket
In these and many other respects
Messrs. Mccall and Perkins differ very
much from the former Alexander Hyde
| head Of the Equitable and the recently
deposed McCurdy regime in the Mu-
| tual. and for that reason il has for n
long time been the hope of many of the
trustees of the New York Life that
| Messrs. Mccall and Perkins could re.
main until the annual election of Off
GERS next spring, because by SO doing
| 1t would enable the New York Life
| company TO 20 on record as being the
only one Of the big three life insurance
companies OF this city which got
| through the legislative investigation
unscathed. With that end in view the
| trustees have hitherto refused TO listen
| either TO President Mccall or to Vice
| President Perkins when they began
some time ago to talk of rcsigning.
Contrary TO expectations, the trustees
of the Mutual Life Insurance company
| failed 10 elect Il new president at their
meeting Temporary President Freder-
ic Cromwell came out from the meeting
and said:
I'VE merely passed a few bylaws
that were recommended at a previous
| meeting. Everything that was done
was done unanimously, and the utmost
harmony prevailed. The matter of the
resignation Of Robert r. McCurdy was
| not discussed
How about Charles A. Peabody p?
Was his name presented for presi-
| dent?' was asked.
Nothing was done about that" said
| Mr.. Cromwell
The Gem Hotel Destroyed.
| SARATOGA. y. Y. Dee. = The Gem