New-York tribune., 1907-01-19
BURNHAM'S FOES REST.
COnUiction Their Only Hope of
Ousting Mutual ReserUe Man.

According to yesterdays indications. any fur
ther attempts to oust President Burnham and
vice-P President Eldridge from the Mutual Re-
serve may depend. after ALL on the result Of the
indictment of these two men.
The Assistant District Attorney who has
charge Of the Mutual Reserve cases has de-
clared that the case of George Burnham. jrr
who was sentenced recently to two years i'm
prisonment, was the weakest of the three.
Should President Burnham and Vice-Presi-
dent Eldridge be convicted, their designations
from the company. it is believed. are assured
In view, however OF District Attorney JerOme's
announcement that he will defer the trial of
President Burnham until after that of Harry
X Thaw, such last resort" designations are
not looked for until the spring.
Up TO date. by their deft stratagems in the
shape OF the promotion of opponents, of the pre-
vention of quorums, as we'll as of the election
Of employees as directors and directors as en-
ployes. President Burnham's supporters have
not only succeeded in staving of opposition, but
apparently in placing Mr.. Burnham. for the
time being. still more securely IN the saddle
Mr. Burnhams opponents. however, declare that
he is riding for fall. which be none the lighter
because delayed. AS TO the company itself, II
is declared that an entirely new management
resolved to retrench. could effect economies IN
the way Of legal expenses and the salaries OF
high officials that would aggregate at least
100000 a year, thereby decreasing the amounts
of assessments and placing promising COM
pany on a sound financial basis.
So great are the demands OF the insurance
investigation that two grand juries may be
sworn in on the first Of next month. IL became
known last night To get two grand 1urles, MI
Jerome will have to apply TO Governor Hughes
The body which is sworn I'm on the first OF every
month will undoubtedly take up the regular
criminal cases for the courts. and if the extra
one is obtained it's work will deal, it is said.
entirely with Insurance.
In the New York Life Building there were
intimatiOns that the present system or can
vassing devised by the expert accountants and
supervised by the inspectors might have 10 be
abandoned through some technical illegaltty.
While a month has elapsed since the close OF
the polls in the MutuaI-New York Life elections
none Of the $4,000 New York Life votes has
been counted. and the Mutual Life inspectors
have counted less than 5000 of the 3JOOOo votes
cast in this company.
Ii seems generally 10 be agreed within insur
anCe circles that the failure of the Armstrong
law TO provide any method FOR canvassing such
an unprecedented vote is largely the cause of
the annoying delay. AS the result of this OmiS-
sion the inspectors and expert accountants per-
force have had to devise u complete system OF
counting and checking.
Justice Bischon has reserved decision DR..
Gillette's demurrer 10 the Mutual LIES suit
for an accounting against the ex-vice-president
Of this company.
Argument continued yesterday in the United
States Circuit Court of Appeals in ]. Wilcox
Browns suit against the Equitable to compel
the return of about S4O0ts)O OiO alleged TO have
been wasted or illegally diverted from the poll
icyholders of this company.
The lower court sustained the EGuita ble's de-
murrer the firm of Battle & Marshall. attorneys
for Mr.. Brown and thirty-seven co-plainttIS,
appealing from the decision.
President Peabody of the Mutual Life will
sail for Europe on the Celtic to-day
Or. Granville NJ. White. chief medical exam
iner of the Mutual. has been chosen acting
president during President PeabOdy's absence