Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-07
P[ACE N EQUITABLE
Vice President Hyde Makes Con-
cessions and Naturalization
Will Come Earlier
HARMONY MEETING is HELD
Senator r'epew and Cornelius Bliss Is
sue a Statement After the Meeting in
Which the Plans of the Association
arc acknowledgements to be
Investigated.


Investigated.
New York, April Z. - Out of the
afty members of the board OF directors
Of the Equitable Life Assurance So
ciety, thtrty-eight assembled IN the
company's board room yesterday af-
ternoon, and, after an hour and thirty
minutes discussion, in the course OF
which 1t is understood, the whole
Equitable controversy was gone over
announcement was made that those
present unanimously had decided to
adopt the two years naturalization
plan announced several days ago.
Rumors of designations did not bear
fruit and 1t was said last evening that
none was rendered.
Everything harmonious" was the
tenor OF the official statement, issued
after the meeting by Senator Chaun-
cey M. Depew and Cornelius N. Bliss.
This announcement also said that
committee of directors would thor
oughly investigate the company's
management.
President Alexander Of the company
and James H. Hyde were present and
1t is notable that many of the direc-
tors came from distance in order to
attend the session.
Plan for Naturalization.
The plan for naturalization briefly
provides that the terms of directors
expiring December 81, 1905, and De-
cembe,. 81, 1906, shall expire on the
last day Of December Of this year, their
! successors to be elected the first We'd
nesday In December, 1905; che terms
expiring on the last day of December,
1907 and 1908, shall terminate Decem-
Der 81, 1906, and their successors shall
be elected the first Wednesday In De-
cember, 1906. There will be four class
es Of directors-those elected success
sors in the so-called 1905 class to
serve three years; those in the 1906
class to hold office four years; those
in the. 1907 class, to serve four years,
and iii the 1908 class to hold office five
wears. There will be thirteen direc-
tors in each class, six to be filled by
stockholders and seven by policy hold
ers.
There will be conferences with the
state superintendent of insurance and
with the policy holders committee by
q committee headed by Senator Depew,
relative to filling the two existing va
cancias in the. directorate by the poll
Icy holders, these two men to be mem
bers Of the executive committee, These
conferences also will take up the APP
pointment OF two more members of
the executive committee by G. N.
Bliss. The conference will follow out
the plan previously suggested as to
the designations of four of the present
executive committee to make room for
the new members.
IA new feature in the Equitable mat
ter is the resolution adopted for the
appointment Of a committee of seven,
hea6ed by e. III. Hartman. to thor
Oughly investigate Equitable affairs.
The original plan for the mutuali-
cation of the company provided that
1t saould be accomplished in four
years, but after last weeks session
with the state superintendent of in
surance this was amended to make the
time two years. The two year plan
was acquiesced in by Mr.. Hyde. The
plarI begins to take effect next Deem
Der.
During the days meeting there were
various rumors of controversy be-
tween Mr. Hyde and Mr.. Alexander,
but so far as known nothing of this
kind took place.
President Alexander, Mr.. Hyde and
John D. Crimmins declined to add any
thing to the official statement last
evening, and said they had no COM
ments to make on yesterdays meet
ing.
The following statement was given
out at the close Of the meeting Of the
directors:
Official Statement.
1.-THE board of directors after full
discussion unanimously adopted the
amended chapter, approved at the
meeting with the superintendent of in
sul'ance, the amendment being:
The board of directors shall con-
tinue to be divided into four classes
of thirteen each. For the purpose of
effecting more speedily the change
from board elected entirely by stock
holders to board elected partly by
stockholders and partly by policy
holders, it is hereby provided that the
terms of office ending December 81,
1906, and December 81, 1906. shall ex-
pi,-e on December 81, 1905, and the
successors to such. directors shall be
elected on the first Wednesday in the
month of December, 1906, and the
terms Of the directors heretofore elect
&c for the terms expiring December
81, 1907, and December 81, 1908, shall
expire on December 81 1906, and the
successors to such directors shall be
elected on the first Wednesday in the
month Of December, 1906. At such
elections the successors to the class OF
1905 shall be elected to hold office for
three years, the successors of
the class of 1906 to hold office for
four years, the successors to the class
OF 1907 to hold office for four years.
and the successors to the class of 1905
t., hold office for five years; thus pro-
ducing four classes of directors. of
thirteen each, whose terms of office
will expire, respectively, in the years