New-York tribune., 1912-01-10

| Some time after 10 o'clock Kenlon and
! his men were satisfied they had the fire
under control. II burned htfully there
after throughout the afternoon and even
J ing, defying Jack Frost to creep into its
/ heart and throw his spell over its havoc.
/ After a conference Of half a dozen OF the
| officers and directors Of the Equitable
hastily summoned by President Day to the
| Iazen Building, No 2 Albany street at
! o'clock yesterday morning, the president
issued statement TO the public that the
business Of the company would be carried
on at No. 165 Broadway, where temporary
quarters had been secured.
The question Of the future permanent
home Of the company. IT was learned from
an official who was present at the confer
ence, was discussed only informally.
when Mr.. Morton. then president OF the
Equitable. figured on the plans for a sixty
two story building to be built on the site
Of the Equitable block at No 40 Broau-
way he found that it would cost $4,000 10
raze the old building" said r.. T.. Ritten-
house. who acted yesterday as spokesman
for President Day. THE destruction Of the
building by fire will bring no loss to policy
holders, because the building. under orders
Of the state Insurance Department. has not
been carried as an asset on the books Of the
company"
Gage Il. Tarbell, one OF the directors and
formerly vice-prcsdent OF the Equitable,
supported this when he said yesterday
THE ground without the building is more
valuable than with it. As a mattrr Of fact.
the building was a detrlment to the prop
erty.'
Informally II is reported. the officers Of
the company who Joined I'm the hasty con
ference summoned by the president. Will
lam A. Day, discussed the old plans for the
sixty-two story structure which was
brought forward by the late Paul Morton.
1T is probable" Mr.. Rittenhouse saidsI
that the Equitable will build its new per
manent home Office on the size OF the old
Equitable block. but as 10 whether the
new building will be the immense structure
at first planned is serious question. The
State Insurance Department would have
something 10 say about that also, because
the law gives that department measure
OF supervision over the building plans Of
an insurance company"
In statement given out late I'm tho Gay
Mr. Rittenhouse said
THE loss Of furniture. fixtures and such
papers as were not In the vaults will doubt
less be about $4,000. The destruction OF
the building itself will make no reduction
in the societys assets, as. on account of
its smalncss, it's age and the very high
value Of the land on which II stands. the
building has not been carried as an asset,
and tho Insurance Department or New
York has not allowed II as an asset for
several years in checking up the resources
OF the society. The land Is worth more
with the building off II. because OF the cost
OF tearing Il down. The total loss there
fore, should be well within s30O0c0 which |
will be offset by the society's insurance
fund"
The site occupied by the Equitable block,
Mr.. Rittenhousc said. was valued at from
s12. .OO0OO0 10 $5.OO0OOO. The Equitable dis
continued It's insurance with fire insurance
companies something like two years ago,
he said, and established a fire insurance
fund OF it's own. which fund. he thought.
would cover the loss on property burned in
the building. That included the law library
which the Equitable had furnished as part
OF the inducement 10 the Lawyers Club,
which had its rooms on the eighth floor.
Judge Day began the rounding up OF his
assistants and Of other officials Of the
Equitable soon after 7 o'clock yesterday
morning. and before o'clock he had d.
rected Leon o. Fisher. auditor, and Gerald
Brown, controller to secure other quarters
for the executive offices, the cashiers de-
partment and the offices OF the metropoll-
tan agency division. the three departments
which had been housed in the old home
Office. By Q o'clock in the morning these
officers OF the company had negotiated for
three floors Of the City Investing Building.
and soon after that hour the company Of
ficialy moved there. and by afternoon suf-
flclent furniture had been acquired 10 give