New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-12

the Equitable in June. 1900. it has been con-
sidered inevitable that sooner or later Mr.. Tar
bell would retire. For many years he had absO-
lutte control over the agency department, and
was generally credited with having ambitions
TO become president of the company. When the
bylaws and rules Of the company were re-
vised last year the powers of the second vice.
president were somewhat curtailed. But Mr..
Morton appointed Mr. TarbeH for a year end
ing February IS
1t is said by some insurance men that Mr.
Morton and Mr.. TarbeII have got along together
none too well. but in accepting the resignation
the president writes appreciatively Of what Mr.
Tarben has done for the society He said:
II is with much reluctance that your resigna-
tion as second vice e-president of this society is
received and accepted, TO take effect on March
You have been identified with the society for
more than twenty-five years. and much OF its
success has been due TO Your energy and effort
There is not the slightest doubt IN my own mind
that your services TO the society have been as
potential I'm results the services of any other
man who was ever connected with Ii. When /
was elected president you came TO me at once
and voIunt eered your loyal support, and thank
YOU now for having given IT TO me since have
been here
1t IS pleasure to me to heartily congratulate
you upon the fact that. after all the eNamina-
jious the Equitable has passed through during
the trying period OF the last two years. NOT me
slightest suspicion has been found 10 indicate
any wrong doing ON YOUR part 1 can also. con-
GrEtuate You upon having found more prOfit-
able field of labor. and I have doubt that your
great energy, wonderful pluck and keen knOWl-
edge of human nature viii prove OF great value
your new business associates
With my best wishes for the greatest success
PAUL MORTON
President Morton would not discuss the resig-
nation. HIS letter Of resignation and mine &C.
cepting it are all there is 10 the incident" he
ill L., 80
to accept a more lucrative. and what seems 10
him a more promising. position. The vacancy
created will be temporarily filed by division
of the work among the other officers"
Il have been thinking Of going into the real
estate business for some time said Mn Tar
bell. Il believe there is an opportunity in that
field here at this time that cannot be found else
where. For some time have wetched the rapid
Improvement in real estate conditions. due to
the natural growth from the increase IN popu-
Iation. Five years ago the annual increase in
population 100000; now it IS $4,000 In
few years the annual increase viii De 10000.
Il much regret leaving this company. with
which I started as a soliciting agent in Central
New York twenty-five years ago. Later had
general agencies in Binghamton. Milwaukee and
Chicago. and Gang here as third vice-president
in 1892. six years later I became second vice
president. When became connected with the
company the assets were $:}5.OOO.O0O; now they
are S435. .OOO.OO0, believe I have now earned
the right to work for myself. I feel about It
as Judge Morgan J. O'Brien did when he left
the Appellate Division of the Supreme Court to
practise law.
For some time have been familiar with real
estate. / was responsible for the Improvement
in the Trinity Building across the street. That
enhanced our property here by S2.OOOOOO,
Il shall retain my interest in the Equitable
and shall remain a director And I don't think
shall give up the S5O00lO worth OF insurance
I have on my life"
Mr. Tarbeu said 1t was too early 10 give any
details of the real estate company he was form
ing. 1t will be ready for incorporation in about
a month one thing it viii do. however. is to
take over the Garden City Estates Company.
which owns 800 acres in Garden city
The resignation Of Mr.. TarbeH removes about
the last of the old AIexanGer-Hyde regime in
the Equitable The only officer who served
under President Alexander who will be left after
March / Will be George T Wilson. third vice
president
The troubles in the Equitable Life Assurance
Society between James Hazen Hyde and Presi-
dent Alexander which resulted in the reorgani-
zatIon of the company. the insurance investi-
cation and which brought about reform in other
insurance companies those in the society Op-
posed 10 him have said were fostered by Mr.
TarbeIl Many aver that he had ambitions
10 become president of the society. He took
lively mart in the various conferences and di-
rec,ors' meetings while the warfare In the soci-
ETY. was in progress. but he came out OF all the
Investigations, including that of the legislative
committee with evidence against him thaS
ne had benefited personally by any OF the NaFi-
Gus syndicate and other operations
IL was shown at the investigation. however.
that Mr. Tarbel had received the commissions
on All his policies in the Equitable and other
companies He had also spent money lavishy
An getting business and in travelling around ne
country lie also made what were held 70 %
excessive advances to the agents.