New-York tribune., 1906-06-05
INJUNCTION MODIFIED.
Equitable Nosc Free to Effect Semi
Naturalization.

Modification of the injunction restraining the
directors Of the Equitable Life Assurance Society
from rnutualizng the society was granted by the
arpellate Division OF the Supreme Court. Brooklyn.
,ssterday This will leave the stockholders free TO
sont the modified charter providing for the cleo
non af twenty eight OF the fftytwo directors by
she pollcyloders and the directors free take
,be fnsl action the scheme for semi-mutualiza-
tion announced recently.
William R H0rnboWer. counsel. argued for
"a, notification order. on behalf Of the society
7-ba sppIication was opposed by Henry De Forest
[,atsu.r on behalf OF Franklin B. Lord. who rep
raserts the minority stockholders, and who OBJ
s,rel the original injunction from Justice Maddox.
r-his iriuuctiou was sustained by the Appellate
1,ixisrr last year. with tho expression Of opinion
,ho, whereas the legislature had the undoubted
,3ebt ro provide for the naturalization OF a stock
,o,nalrv tho statutes in force at the time were
NOT broad enough 10 permit Of H. In so much as
section . Of the corporation act was expressly
o-oan6ed 10 meet this objection. 10y the Armstrong
,assl.tt,n the Appellate Division could scarcely do
.tsrv.isa than grant the modification Of its order.
prior f the granting Of the injunction by Justice
Maddox "a demurrer 10 an application for similar
injunction had been oveTruled. The Equitable
which had entered the demurrer, took this TO the
Ann.l.ts Division and the overrung OF the de-
rsrrer was there sustained. This decision of the
Arrel ste Division has been appealed from TO the
oprt ~ Appeals and il is there that the question
n, the constitutonality OF Law providing for the
rnlItus lzstiOn of stock company by a uaJofily
vote q the stockholders will he settled.
II was said yesterday that the appeal Of District
At,,-ro, Jerome from the decision OF the Appel
lste Division. dismisslng George ". Perkins from
c,stody on the charge OF grand larceny in connec-
,,on win The S4seO0 campaign contribution Of ;he
Ner- York Life would be heard by the Court or
Apnesls on October !. A decision is expected ly
Novem5er l.
Counsel for Richard a. and Robert H. Mccurdy
has granted 10 the Mutual Life extension OF
time 20 June q in which file the additional
psins in the suits agensi the former president OF
the Mutual and his soa. An extension until the
same day has been granted 70 the Mutual within
which 70 le further complaints IN ts suits against
Louis A. Thebaud sne Charles H. Raymond. Time
-o- the service OF the first complaint IN the SUIT
against Andrew c. Fields has been extended until
June 80 The understanding is that these eNten-
sIons have been asked. that Information brought
our ly the insurance grand jury may be incldled
n She complaints.
Nr Thrbaud is now in Carlsbad. Germany. He
4. a scn-in-law OF Richard A. McCurdy. and ii is
assume! that the latter is there also. He has
No intention az returning this country before
seniemle~ or October. Il is said.
II was stated last night that President Morton OF
the Equitable had made another cut I'm the salary
N cage T. TarbelL II true. this would seem to
indicate that the president is willing that Mr.. Tar
bell should become dissatisfied with his present
rosi-lon In the good old days Vice-President Tar
bell received 5000 year. The general 20 per cent
redict on uut into effect with the reorganization.
brought that down 20 $4,000 The latest cut has
taken OF an additional sl2 coo leaving Mr.. Tarbelrs
compensation ~ Sj601a
The Mutual Life in its Efforts to reduce expenses
in every conceivable way. has brought strike"
the part Of many Of the doctors who formerly
acted as examiners m various parts of the country
The old Zee for examination s. for applications
ulutt St't' ~ ias De'-il neouceu 10 % ahd
many of me old examiners have refused 10 serve
foF the smaller fee