POOL FOR LEGISLATION DIRECTORS ARE ONLY DUMMIES Mr. Schiff Declares They Have N Power and Are Negligible Quantities. o Alfred W. Maine, an associate audi- tor of the Equitable Life Assurance | society, before the legislative com- mittee investigating life insurance, disclosed that the ¥quitable Life, the Mutual Life, and the New York Life companies had formed a pool to look after legislation by the various State legislatures. Andrew Hamilton, dent McCall, of the New York Life, | paid several checks, the purpose of] which the counsel for the committee, | Mr. Hughes, has not yet brought to light, was one of the chief members of the legal staff for these compan- ies and was employed and received money for services from the Equit- able. Mr. Maine told of the division of | the country to be looked after by | Mr. Hamilton, in conjunction with E. 1. Short and W. P. Thummel. wit. | ness presented vouchers for moneys | paid by his company to Mr. Hamilton | and these showed that in eight years, from 1895 to 1903, the sum of $65,596 was paid to Mr. Hamilton for legal | services. Jacob H. to whom Presi- Schiff, senior member of the firm of Kuhn, Loeb & Co., was an- other witness. Mr. Schiff was | former director of the Equitable Life | Assurance Society, but resigned when the directors of the society failed to | adopt the Frick report. Schiff said | that he had been a director of the Equitable since late in 1893. | Mr. Schiff took occasion to make | the startling statement that in the | general run of corporations or com- | panies the directors were more than dummies. “Under the existing order of things,” he said, “directors have no | power, and in many instances are a | neglible quantity, The . executive | officers are in full control, and they | shares North | shares American Tobacco company, 6 | on | in this FORGER GETS $360,000. Wall Street Bank Victimized by a Bogus Check. The details of a swindle whereby the National City bank of New York, was recently victimized by a clever forger, have come out. The forger presented a bogus check bearing the name of a well-known stock exchange firm, and received in return securities valued at about $360,000. Pearl & Co., stock brokers, at 27 William street, recently negotiated a one-day loan for $300,000 with the Nationa] City bank. A check, for the amount of the loan, plus $37.50 for the day’s interest, was presented at this bark by a stranger, who received the security deposited by Pearl & Co. for their loan. The bank on which the brokers’ check was drawn is one with which Pearl & Co. never had an account, so the forgery was not dis- covered until] the check had passsed through the clearing house exchange, when it was promptly branded as fictitious. A private detective agency was call ed in and transfer of the securities was at once stopped. The detectives intimate that they have a clue to the identity of the forger, who is believ- ed to have had one or more accom- plices. It is believed that the forger had an intimate knowledge of Pearl & Co.'s affairs. The securities offered by Pearl & Co. for their loan and surrendered by the bank for a piece of worthless pa- per include 1,000 shares United States Steel common, 1,000 shares | Rock Island common, 1,000 shares Metropolitan Street Railway, 700 American company, 47 per cent bonds debenture B RESTRICT NEGRO SUFFRAGE Democratic Convention Declares Against the Colored Man. At the Democratic State convention | of Maryland in Baltimore, Comptroll-| er of the State Gordon T. Atkinson! was renominated .and a platform | and some Wabash | bonds. | i | nothing | adopted advocating the proposed con-| Steamer Strikes Mine—Two Swedish * | stitutional amendment to restrict ne- | ro suffrage which will be voted up- | at the November election. The | | platform reclares as follows: By common consent the oaly sors) campaign is whether negro | suffrage put.upon us against our will only come to the directors for ad- ] ] HL vice. If the executive officers wish [PY force, shall be restricted and its to conceal irregularities they can do | Power for evil destroyed. This Dem. | ithout the knowledge of the di- | oerat itic convention, representing two- who are powerless.” FIVE MUDERED Heads of the Victims Crushed and Their Throats Slashed. Mrs. A. J. Condittiand her four| relations with Japan rare resumed. Fire destroyed the barn of the Biscuit company at Zanes- | ville, 0. Six horses were cremated. Loss $3,00 Incengdiaries are blamed i for the blaze. W. W. Hague, 20 ycars old, a | Penn sylvania railroad brakeman, ped from a freight train in front passenger train at Altoona, Pa. was killed. T1 he Berry Lumkbk~sr company City, Pa., has secured posses 8,000 acres of timber land near Chat- tanooga, Tenn. The timber will be cut into ailroad ties. The Unite States Steel Corporation interests have bought 40,000 tons of Bessemer iron from the merchant fur- aaces of the Mahoning and Shenango valleys for October. delivery. John A. Morris, once a candidate for governor of the State of Conneti- cut, on the Sccialist ticket committed suicide by inhaling gas through a tube which he attached to a jet. Snow to the depth of six inches covered the summit of Mt. Washing- ton on the 25th - and lay on the ground to a lesser depth as far down jum i as the Half-Way ‘house. The ther- mometer registered 26. Secretary of the Treasury Leslie M. Shaw will leave the cabinet Feb- ruary 1, 1966. He makes the definite announcement in a letter to the Polk County, (Ia.) Republican club. On account of the prevalence of typhoid fever and diptheria at the naval academy, at Annapolis, a rigid quarantine has been established and no midshipmen are allowed to leave the grounds. Robert Richwine the express agent who was injured in the wreck of the Philadelphia and Reading railroad, near Barnitz, Pa., last Thursday, is | trolley chain from Pittsburgh to | |W heeling. i The Hon. W. Caryl Ely of ] Buffalo, | president of the American Street | Railway association, is looking after the financiering of the enterprise, and Van Horn Ely, also of Buffalo, is president of the new company | which will absorb the East Liver- pool Railway Company, its branches, the East Liverpool & Rock Springs | line; to Chester, W. Va. and the pleasure resort knowin as Rock Springs park. improvements will begin at once. POWERS WILL ACT Decision to Take Control of Macedo- nia’s Finances Unalterabie, A collective note from the six pow- ers has been handed to the Porte, de claring that their decision to assume international control of the finances of Macedonia, is unalterable. There is increasing friction be- tween the British embassy and the Porte, in conseque ence of the delay in the pay ments of an indemnity to the owners of British shows, attacked by Arab pirates in the Red sea. The embassies last night pointed out that unless the matter was soon satisfac- torily settled the incident would re- sume a graver aspect. RECORD FLOUR ORDER It is for 180,000 Barrels to Be Shipped Immediately to Vladivostok. An order for 180,000 barrels of benn placed with a Seattle flour mill by Vladvostok flour merchants. This! is the largest single order ever plac- | ed on the Pacific coast. New orders for Hongkong Shanghai delivery are being recei and all orders placed before the boy- cott was firmed. Work on the promised | flour to be delivered immediately has | proclaimed have been con- | dead. This makes the sixth death due to the accident. Fire at Gormania, W, Va., thought to have been of incendiary origin, de- | stroyed Knights of Pythias Hall Dr. | | Drinkwater’s home and office, Beck- man & Wolf's store building and stock, the stock of John Reid and two dwellings, ing $25,000. the total loss aggregat- Dynamite Hulk Blown Up. The wreck of the British steamer Chatham, with her cargo of 90 tons + of dynamite and blasting gelatine, was blown up by mines distriouted around and in side her hull. These were fired by an electric current from Raselech, about five miles away. The authorities anticipate that the pass- age will be cleared of debris in four days. Telephone Company - Expands, The United States Independent Telephone company filed papers with the Secretary of State of New Jersey, increasing its authorized capital from $100,000 to $59,000,000. The offi- cers are: John N. Rauber, president; William J. Naylor, vice president; { Benjamin J. Chase, secretary; Fred- | erick W. Zoller, treasurer; Morris D. Knapp, J. Wesley Kingston and Henry Abington, directors. Glass Scale Reaffirmed. The National Association of Window | Glass Manufacturers, representing i over two-thirds of the hand-blowing window glass plants of the United States, reaffirmed the wage scale of iL. A. 300 of Pittsburg and entirely repudiated the scale of the Amaiga- nated Association of Window Glass Workers of Cleveland deciding to liding seale or al- remain idle onerate JL LLC wi A A an Ea tio: