New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-11
Constant Reader Tells What He
Missed in Last Weeks Papers.

.T don, s,,rrose any of those insurance rascals
will be run down. in spite Of all this hue and
cry" said the Busy Man on again meeting his
friend the Constant Reader.
The grand jury doesn't seem 10 agree with
YOU" replied the Constant Reader. TT has
brought in fifteen indictments charging Mutual
Reserve Life Insurance officials with larceny and
forgery Among the men held Frederick A
Durham. president: his brother. George Burn
ham. IT. president and chief Of counsel, and
George y. Eldridge, second vice-president. They
We're released under SI2.5OO bail each"
'.Forgers and thieves exclaimed the Busy
Man. excitedIy. How in the world could such
accusations be made2'
The Mutual Reserve officials were charged
with having taken the company's money for their
personal use and with having committed forgery
IN fixing up the books so that the embezzement
would not be discovered or traced was the re-
Ply. The evidence on which the indictments
were found was in the testimony OF James D.
Wells, a former officer Of the company. And this
is only beginning. for Nj Jerome is said TO be
preparing TO ask for indictments against certain
officials IN the big three life insurance compa-
MES. II has been intimated that the District
Attorney would try to have indicted every life
Insurance trustee who took part in syndicates.
Meantime, the Mutual civil war has been raging.
James Speyer. Dudley Olcott and Cornelius Van
derbilt have resigned. Joseph H. Choate has be-
come the attorney OF the housekeeping COM
11lttee"
If only Andy Hamilton would return TO Amer
lea he could clear Up a great deal of this insur-
anoe uuddle." said the Busy Man. impatiently.
The Judge has returned replied the Con-
slant Reader. His arrival from Paris was IN
expected. He went straight from New-York to
Albany All kinds OF guesses have been made as
70 his coming. At any rate. the probing COM
rnittee OF the New-York Life has been preparing
20 bring suit against him for the vast sums paid
him 10 influence legislation"
But what has become Of the bills which are
70 put into effect the reforms urged by the in
vestgating connittee?" interrupted the Busy
Man
They have had their first hearing" was the
reply which was attended by a vast delega-
lion OF insurance people, including the most
prominent men in the business The presidents
Of the Big Three spoke in protest Of the vital
features of the proposed legislation. Meanwhile,
at Trenton. the Prudential Life has been put on
The rack A fight is being made TO pass reso-
luton for a legislative investigation Of this
company The Metropolitan railroad is being
vigorously attacked both at Albany and this
city. Judson @. Wall has made fight 20 have
the coupany's books opened because Of alleged
fraudulent issues OF stock AS a result the At
torrley General Of the state decided that the
railroad commission could examine the COM
pany's books II it saw fit. Yet despite the war
on the Metropolitan and also its merger with the
Interborough. new plans have been recommend
ed by the Rapid Transit Commission. including
z through subway service from Harlem TO Coney
Island
The traction fight after all, is not as desperate
rs that between the striking iron workers and
the steel structure building firm Of Post & Nc
Cord Three union men were caught in the act