The Equitable Society.
A BASIS FOR PROSECUTION. (Received June 23, 11.21 p.m.) ' NEW YORK. June 23. Mr HeiWricks, State Superintend«Mt of Insurance, recommends the mutuaKsation of the Equitable Lite As> suranee Society, and reforms with legislative prohibition'' of investment in subsidiary moneyed or business corsurpluses after seven per J •cent, dividends 'have been paid. The Equitable stock has been declared to fcelong to policy holders. Mr Alexander Hyde's syndicate transactions were unlawful, as only ten out of fifty-two directors owned stock in their own right, and the others really represented Mr Hyde. The report has been forwarded to' the Attorney-Genera) as a basis ' for prosecution.
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https://paperspast.natlib.govt.nz/newspapers/TDN19050624.2.38
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Taranaki Daily News, Volume XLVII, Issue 7857, 24 June 1905, Page 3
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105The Equitable Society. Taranaki Daily News, Volume XLVII, Issue 7857, 24 June 1905, Page 3
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