New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-05
BRIGGS LEADS CAUCUS?
Continued from FIRST page.

tTibuted as afterward proved 10 be the fact, Be
features were grated upon its system which at
me outset NOT anticipated. BY 1850 the future
oreseen The e'' poIicyhoiders extended Beyond local
limits resided in different states with the prob
throughout the entire country They resided in all
the means of knowledge enabling them to vote in
'eI4ngently in the selection Of directors. -
FURTHER, as have said, policyholder had a
company profited tie 'stockb6ldeTs We're entitled
to the profit. If the company lost the stockhod-
But 1t is said that the company has made large
profits from which the policy holder has received
bUs pee Ipptfeate July the fact Jf te
support Of its poiCyhoders anu have felt that
by the terms Of their contracts entitled to
any share Of the net profits. have, nevertheless
recognize. have therefore recommended TO the
board Of directors that these policies should receive
ton OF the net earnings. Acting unon my recon-
nually paid to this class Of pocyhoders large
sums Of money. amounting in the aggregate TO
But 1t may be said that. after conceding and rec
described | have sin largely benefited as a stock
holoer and officer Of the Prudential Insurance Com
my life to building IN and fortifvinc the COMPANY
which has become one OF the great financial institu
IONS OF the country That Institution has performeG
IN fun to every claimant the sum To which he was
entitled and. as I have said. has gone beyond its
portion of its profits
Federal regulation of insurance. Mr.. Dryden says
meets with constitutional difficulties which he be-
leves are ineuperable.
THE PUBLIC SERVICE CORPORATION.
Turning next TO his relations to the Public Ser
vice Corporation. the Senator says;
was Interested in the formation OF the company
and was formerly for short time director in ii
At the time of its formation some Of the underly-
Ing companies, whose securities were acquired by
ned With insoiyenc In that eRsSt 9he seca
ues widely distributed In the hands OF the in
i invested and l induced others 20 invest IN the
stock Of that corporation. From this investment
We nave as yet received no return The holders %
The underlying securities have been protected and
DERIVING companies have been enabled to serve
their respective communities.
In the active administration of tho Public Service
Corporation Mr. Dryden says he had no part. lie
declares that his obligation a director In any
corporation has never interfered with his duties
Senator. He adds
II. however in the future these relationships. or
any others which may sustain. interfere with the
Senator l will either terminate those relationships
or resign my seat IN the Senate
or the charges that at the time OF his election
the Senate money was offered by one Thomas
Palmer TO induce the atlantis vote for him In
the party caucus, he says they too serious to
pass by He points out that these affdavits have
been so carefully drawn that no charge IS made
Of my participating either directly or indirectly in
the matter"
lie continues:
an advised by my friends and ] believe that
these charges n connection with my former candi-
dacy are really made Tor the purpose OF coupling
u suggestion Of bribery with any efforts which may
he mace IN my behalf 10 procure the support Of the
eight Republican members OF the Legislature who
have far refused their votes to my election.
II Is said that great majority ~ the Repub-
liCau voters az tho state opposed 10
election. This statement is wholly unsupported
Ny any expression of the Will OF those voters on
the contrary the deliberate expression OF their
Will was au Endorsement Of my candidacy.
admit a feeling az personal disappointment I
have served the State of New Jersey and tho
ton honorahy. and / desire TO be instrument
OF further honorable service But beyond this I
am Republican and believer in the Republican
party the most efficient agency Of government
this country has over known. I shall not be
doubted when I say that IL has reached this en-
cheney because the party viii has been paramount
personal opinion.