Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-05-03

dhiiIs. n prOpOS1tlOn was made by the
controlling interest " the stock. to the
effect that the pOlicyhoiders be allowed
to elect 20 of the 50 directors, and that
"a be elected by the owners OF the stock.
At this crucial point the officers diff
fered. some believing this arrangement
would be the most efficient plan of any
that could be devised, While others be-
lieved that full mutualizat ton should be
put into effect at once by the policy
holders electing the full hoard of SO Iii
rcctors. and retiring the stock. and
hence hereafter controlling absolutely
the vast amount of assets contributed
by them. This passing from a stock
company conducted On a mutual plan
to a purely mutual company eonduc-
ted by a board of directors elected by
the policyholders is. as we interpret tn.
situation. the bone of contention. All
other reports of proceedings in the
courts and Out--Of which you read
are solely the outgrowtn of this specific
issue. Notwithstanding the regretable
publicity and without personally TAX
ing issue with any one. IL is my sincere
and deliberate Judgment that in tn:
end this agitation will prove to be tc
our supreme interest rs poilcyhOlders.
Remember. in this controversy that
the uneXamnl"d strength Of the
"EIuitable'-with assets Of sii:3:.5j,3. eco a.
and surplus of $50, "a. 269. .l-lias nrvel
been questioned by any financial author
ity or any insurance commissioner of de-
partmcEtS, and needs no demonstration.
NO more decided guarantee for fidelity
III its future management could be de-
EiScd than the Se;trchliSht now being
thrown upon It's administration, both by
TIE insurance department, headed by
Superintendent of insurance Thomas d.
hendricks of New York. and by IL co:u-
hittee vi seven appointed from the board
OF directors, headed Dy Chairman H. c.
TICK, It former partner OI Andrew Car
HcSie), both faithful and most efficient
OinccfS, whose names are SYNONYMS of
hcnor We are firm in the belief that
their nndinss will make pcrft city clear to
You the whole situation i'll due time.
therefore with patience abide the out
come, ana the Equitable with Il clean bill
OF health will be better and stronger even
than in the Past.
Please bear in mind it was upon the ex-
pEcit written invitation OF our officers
that the department inaugurated this ex-
ANIMATION into the affairs of the society
understand, from Il policy hold
ers standpoint. there is no financial
crisis, nor can there possibly be i'm the
Equitable.
Maine policyholders are paying premi.
uns as usual and there is not I, single in
stance where policy has been allowed
to lapse, or surrendered for cash on ac-
count OF this sensational agitation. Con-
tinue patient, Steadf;ist and loyal to
Your company. Let no man, or set of
men, or reports of magazines or news
papers. shake your faith in the absolute
s"undnoss Of the Equitable. Hold on to
your policy; pay your premiums To
listen to "A SUGGESTION from .,r.fn
drop your policy is to suffer financial loss
and sacrifice the best asset you have
Any doubt raised in Your mind in regard
to the condition of the Equitable can
easily and readily be dlssipated by inquiry
Of the Insurance commissioners OF Maine
or any other state depart
fn"nt in the country, as they all have
listed in their several departments n COM
plcte schedule of the company's assets
and all are thoroughly informed as to
the nature of these assets and the finar-
cEll standing of the society. You may
have noticed in the papers the advertise
ments of self-conStituted policy holders
who are spending their own
NANCY and soliciting your support with the
oStensibIe object of looking after your in
tcrests. At this juncture it appears to
me most preSumptuOuS for these adver-
tlsonentS to appear in Maine papers, and
not Il we'll directed effort. Our advice is
for YOU TO have nothing to do with them.
Having been directly and Indirectly
zens of Maine to place upon their lives
assurance in the Equitable Life Assur-
ance Society to the amount Of ST. 000, 600 |
feel a personal and most serious respon-
Slhii!ty Ill anything concerning your in
terests in the company. Moreover as
am 4 pOlicyhOlder carrying on my own
life, and members OF my family, assur-
:.nce in the Equitable to the amount OF
$GO,OQO our interests are mutual. Without
amy expense to YOU | believe am better
prepared to successfully champion our
mutual interests than any outside organ
i=ation less familiar with the business and
internal workings of the society and it's
That the insuring public continue to
have faith in the present and future of
the Equitable is demonstrated by the
amount of business written from April 1st
To 24th, inclusive. representing So50UO0
more than for the corresponding month
and period of last year. The new BUSH
ness written in the Maine agency for the
$l2.%O more business than for the cor
responding period of last year. This
volume of business represents the ap-
plicatiOns of some of the most prominent
business men of the Pine Tree State. We
can assure oil that they will have no rea-
son to regret adding TO their assurance at
the preSt mt moment or advising friends
taking new assurance as heretofore with
the Equitable. For. as has been wisely
said: "All should rejoice that while our
policies are good TO-DAY they are to he bet
ter. For agitation purifies' and the
Equitable will continue in the future as in
the past. to he tn" strongest in the world
] wish I" particularly call your attention
tn the schedule of assets appearing else
where. also to abstracts of editorials
from the Boston Herald and Lewiston
Journal. respectively. as they reflect the
trutaSc of mature minds and most dis
judgment.
If | can serve you or your interests now
or at any future time you are most cordi-
ally invited to communicate with me in
person or by letter. In the meantime be-
licve me while l remain.
Faithfully yours.
F. II. HAZELTON. |