The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-05-29
EQUITABLE NAN. INDICTED
TWENTY FINDINGS AGAINST
COMPTROLLER JORDAN.
He's Expected to Give Himself tip To-day
Charges Based on Year End Loans,
Which. II ts Alleged. were Covered

Charges Based on Year End Loans,
which. IL ts Alleged. were Covered
In IN the Books New York IAfe Next.
Thomas D.. Jordan. who was comptroller
OF the Equitable Life Assurance Society
under the old management. was indicted
yesterday by the Grand Jury for forgery
in the third degree and perjury. Thee
are eighteen or twenty indictments against
him. None OF the other old officials Of the
company was indicted.
1t lie expected that Jordan will appear
this morning before Justice Greenbaum
in the Supreme Court. Criminal Branch.
where the indictments we're filed. hr.
Jordan was not a witness before the Grand
Jury. nor was he a witness before the Arm
strong committee, although he was sought.
As no arrest had been made everybody
who had anything to do with the indict-
ments refused to. say anything about them.
But late in the afternoon Frank D.. Jordan.
son Of the former comptroller. called on
District Attorney Jerome. They had a
conference at which. It was said last nighe,
young Mr.. Jordan announced that his
father. whose home 10 EnGlewood. N. j..
would surrender this morning. No warrant
was issued for him. When Mr.. Jordan
appears it 10 anticipated that he will be
represented by his lawyers and ready TO
produce the required bail.
When the Armstrong committee took up
the Equitable investigation it was the
general Impression that Mr.. Jordan would
be a very important witness. When certain
leads were found the importance Of his
testimony became apparent, because after
the death Of Henry B. Hyde. the founder
OF the company. the management had
shifted and Mr.. Jordan. to q large extent.
was the only official familiar with the man
agement before and after Mr.. Hyde's death.
When the Armstrong committee called
for Mr.. Jordan he was missing. His con,
Frank ID. Jordan. was sent for, and he said
he didn't know where his father was. He
said that he hadn't seen his father since
the Labor Day preceding the investigation,
when he left his home at Englewood.
do you know whether your father is
aiiveP' asked Mr.. Hughes.
Il presume 80; 1 am not positive said
young MIR. Jordan.
DO you know whether he IL livingi'
Il do not
Mr.. Jordan never appeared before the
committee. Since then little has been
heard OF him. 1t was said last night, how
ever. that he had been al his home and at
Atlantic City and then he had been In his
city q good deal recently. From what
could be learned he was not asked to APP
pear before the Grand Jury.
The last thing which was done by the
special Grand Jury for May before being
discharged for the term yesterday was
the fling Of the indictments. There was
a good deal Of surprise hat &c many should
be found against n man and it was at
first thought that indictments had been
filed against other former officials Of the
company. The investigation has been 60
ing on for more than a month. 1t was in
charge OF Assistant District Attorney
Kresel.
The Grand Jury took up the year end
transactions Of the company, similar to
those on which John r. Hegeman, presi-
dent Of the Metropolitan Life Insurance
Company, was indicted. In the Equitable
there were two classes OF these year end
transactions considered-the reduction Of
bank balances and the transfer Of loans.
A good deal was brought out before the
Armstrong committee about the reduction
of bank balances, but not much was said
about the transfer Of loans.
This may account for he number OF
indictments against Mr.. Jordan and a num-
Der OF them may be on the score OF the
transferring Of these loans at the enc Of the
year. 1t is said that Mr.. Jordan, as comp
troller Of the company, knew about the
shifting Of these loans, knew who signed
the vouchers for them and Of the reports
to the State Insurance Department which
did not carry these loans. In the yearly
statements Of the company to the 1nsur-
ance Department so-calied collateral loans
made to Kuhn. Loeb a Co.. clerks in the
employ Of the banking firm, the Union Pa
ciic Railroad, George Westinghouse and
the Lake Shore Railroad Company were
named. There was testimony before the
Grand Jury to show that II was the prac-
tice OF the Equitable TO make these loans
at the end Of the year for the purpose OF
reducing bank balances. In the year 1904
SIC, $50, 900 was loaned TO clerks in the en-
ploy OF Kuhn, Loeb a. Co. II lie charged
that the collateral for these loans was
never turned over to the company, but that
an empty envelope with the name OF the
securities written upon IL was sent to the
company.
As comptroller OF the company Mr.. Jor-
dan 10 supposed to have known about these
loans. He is also said to have signed
vouchers for other loans which were trans
ferred at the end Of the year.
IL was said that other officials Of the com
pany knew about the transfer Of these
loans. According to the testimony before
the Grand Jury they did not. or at least
their ape were not signed TO the loan
vouchers. Both James Hazen Hyde and
James W. Alexander are out OF the country.
IL could not be learned yesterday whether
the investigation OF the Equitable 10 com
pleted. A particular phase Of the New
York Life MANAGEMENT may nett be taken !