New-York tribune., 1905-04-10
CONFER ON LORD SUIT.
An EQUITABLE TRUCE.
Hendricks and Mayer May Make
Naturalization EfectiUe.

While the fate OF the naturalization plan adopted
for the Equitable Life Assurance Society appears
10 deDend on the result OF the Lord suit. which
will come up before Justice Maddox in Brooklyn
this afternoon Il was declared by director yes
terday that Il really depended on the action OF Su-
perintsndent Hendricks OF the State Insurance De-
partment and Attorney General Mayer II they
approved the amended charter. which is now in the
hands Of the superintendent. it would go into ef-
feet az once. in spite OF the Lord suit
The amended charter must be submitted by the
Superintendent OF Insurance to the Attorney Cen
eral for approval according TO the insurance laws
II he approves the technical phraseology or the
document. Il goes 20 the Superintendent again. who
approves OF its contents its substance, and gives
his permission for tho company to do business un-
der Il, or throws IL out
Because OF the Importance OF the amendments
and the suit prevent naturalization. it IS believed
that the procedure will be somewhat different IN
the Equitable case. The Attorney General himself
will have to go over the amendments proposed. to
that they not in violation of the constltu-
tiOn lawyers in touch with the Lord suit believe
making him decide not only on the legal form. but
the justice OF the substance from a legal view
Then with his opinion will be taken the opinion
Of the Superintendent as to the equity and advisa-
bilIty OF ths amendments from an insurance view.
The Attorney General Will be arguing case in the
Supreme Court at washington to-day. Supern-
tenden Hendricks Will be at Albany, but 1t is not
believed that his approval of the amendments will
be given to-day. This delay may give time for
decision the Lord application for an injuncuon
forbidding naturalization
II was reported that injur cton might De
sought restraining Superintendent Hendricks from
taking action on the amendments until such de-
cision Lawyers in Mr. Lords confidence knew
nothing Of such intention.
The action Of the Depew committee OF directors
which is TO decide the advisabity OF letting the
pocyholders have for their representatives the two
vacancies in the board of directors and four places
IN the executive committee will depend entirely
Superintendent Hendrickss decision. The commit
tee will hold q meeting at the Equitable Bullolns
from superintendent Hendricks. II ne approves lhe
amended charter which will thereby go into effect,
the committee VIII summon the CIlmmIhs coililI.- cot
Tee OF poncyholoers ana take up at once lhe unset
tied questions. The full board of directors will not
hold meeting until called together by the Depew
or the investigating committee.
Mr.. Crimmins said yesterday that his committee
had discussed the men il would name Tor the TWO
decided
II can't express definite opinion on the merits
OF the Lord suit said Mr.. Crimmins, ''as I'm not
lawyer. but l think its only effect Will be to de-
ISrd i Is acting only for 9 himself in this have
had talks with leaders of both parties among the
directors and from what they've told me I'm sure
neither is behind It. In any case we policyholders
shall not abandon the movement for mutuallza-
tiOn. There will be other court cases orc,
millions OF The F0uitabes funds should be distrib-
uted among the tontine policyholders.
Re fears the naturalization viii affect the value
of his stock. can't why he should for the
plan worked out with the interests Of stock
holders well policyholders in view and has
stockholder Mr.. Lord might, perhaps. force
appraised but he could never get more than the
per cent dividend provided for in the charter.
Samuel Cntermyer, personal counsel for James H.
Hvdc, and William B. HOrnblower and RAinbridge
Colby. counsel for President James W. Alexander.
suit After the conference II said that for the
first time since the split in The Equitable the OPP
LORD suit.