The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-15
new EQUITABLE. DIRECTORS.
12 REPRESENTATIVE BUSINESS
MEN CHOSEN ~ TRUSTEES.
Formal Election by Board Yesterday
qualification Problem More Directs
ora out and Others to Follow jerome
and Hunter Lock Horns over Evidence.

and Hunter .Ock n Orns over Evidence.
At a special meeting Of the board OF
director, Of the Equitable Life Assurance
Society Yesterday tn, designations OF three
more direct rs were accepted. and twelve
new ones, all of them representing the
pocyholders, were added to the board.
The names of the new directors were sug-
gested to the board for election to existing
vacancies by the trustees of the Eunitable's
majority stock, Grover Cleveland, Justice
Morgan j. O'Brien and George Westing-
house. They are;
TERMS EXPIRING DEG. 81. 1905.
Wallace l.. PIERCE OF Boston. promi-
nent merchant
DANlrL A. ToMKISs Of Charlotte. n. c..
editor of the Charlotte Observer and u cotton
manufacturer.
THOMAS spRArr Of Odgensburg, NJ Y.
Louis STERN Of New York q member OF
the dry goods firm OF Stern Bros.
FRANK y. WEruERnEE OF Port Henry N.
Y. an iron manufacturer.
JAMES MCMAHON OF New York president
OF the Emigrant Industrial Savings Bank.
TERMS EXPIRING DEC. 81. 1900.
WILLIS T. McCooK OF Pittsburg.
Former Congressman CHARLES Z. I.tTTLE
FIELD OF Maine.
TERMS EXPIRING DEC. 81. 1907.
NEVADA n. STRASAHAN. Collector Of the
Port Of New York.
D-CApY HERHluK. lately Democratic cAndi-
date for Governor.
TERMS EXPIRING DEC. 81. 1908.
NICHOLAS MURRAY BUTLER. president Of
Columbia University.
CHARLES ZEHNDRR . Philadelphia coal
operator.
All of these men; It IL understood, have
been consulted by the trustees and have
expressed willingness to accept. In
making the selections the trustees were
guided in this instance. as they were when
they named the first group of directors. by
the suggestions of policyholders IN all parts
of the country. Expressions Of opinion
regarding candidates we're openly invited
by the trustees from all polioyholders, and
thousands OF letters were received by them.
As In the election Of the first group also. an
effort was made by the trustees to have the
new men represer tative of the country at
large rather than Of any particular SEQ
ton.
The designations accepted were those Of
Louis Fitzgerald, H. @. Deming and F. @.
Bourne, That Fitzgerald and Deming
would retire has been known for some time.
but the resignation Of Mr.. Bourne came az
surprise. he was one Of the nine directors
named by tho trustees as representing the
policyhoIdeu In the first group. Mr..
Bourne gave - his reason for declining the
election pressure Of business. Mr.. Deming
is president Of the Mercantile Trust Com
pany, one OF the Eqmtabie's Subsidiary
institutions. Both he and Fitzgerald were
members Of the Hyde underwriting syn
dictate.
With the election Of the twelve new d.
seotors the boards membership foots up
to forty-seven; only flvo less than the full
quota provided for In the society's charter.
Its composition, with the above twelve, Is
as follows:
Paul Morton. j. W. Alexander. Chauncey
NJ. Depew. Thomas u. Jordan. V, p. Snyder.
Alvin W. Krech. William Alexander. John j.
MoCook. James B. Forgan. G. Ledyard Blair.
James II. Hyde. William c. Van Horne. Gage
f. Tarbell, {. b. Alexander. T. De Witt Cuyler.
j. +. de Navarro, Bradish Johnson Levi p.
Morton. II. R. Winthrop. George j. Gould.
Thomas r. Eckert George T. Wilson. William
H. Mcintyre. II. NJ. Alexander, Samuel M.
lnman. II. c. Haarstiok. David H. MofIat.
f. B. Thomas. William Whitman. Ferdinand
w
Schmidlapp. f. W. Robertson. J. j. Albright
and James Bryan.
Only twenty-six Of the fifty directors
who composed the board when the Alex
auder-Hyde controversy began are left,
and before the reorganization is complete
this number, 1t was said yesterday, will
probably be cut to about twenty.
The elections yesterday give the policy
holders twenty of the twenty-elght di-
rectors they are entitled to have under the
terms Of the trust agreement executed
between Thomas +. Ryan and Mr.. Cleve-
land, Justice O'Brien and Mr.. Westing-
house. The present five vacancies. and
any others which may occur within the
next few days, it was said yesterday, will
probably not be filled by the trustees until
fall. 1t is doubtful whether the trustees
will come together again before then.
No definite announcement was made
Yesterday in regard to the method Of quail
fyng the new directors, but 1t was said
that an effort would probably be made
to qualify them under the section of the
that any poicyholder in a life Insurance
company Is eligible to become director
Of that company. The Equitable's charter
provides that every director must be the
owner of five shares OF the society's capital
stock, but eminent lawyers have expressed
the opinion that policyholder may qualify
without complying with this provision.
Several of the newly elected directors were
prominent in the policyholders move
ments in different parts Of the country
within the society. Mr.. Spratt of Ogdens-
burg, for instance, was chairman of the
policyholders' committee of that city.
Collector Stranahan has been a policy
holder in the society for more than twenty
wears He said yesterday that Mr.. Ceve-
land had asked him personally to accept
a place ON the board and he regarded it as
his duty to do 80.
About twenty directors attended the
meeting yesterday, which lasted only about
twenty minutes.
After the meeting conference was held
in the offices Of the Mercantile Safe Deposit
Company, at which James H. Hyde, William
H. Mcintyre. William C. Gulliver, Mr..
Hyde's LAWYER. and William Nelson Crom-
well, counsel for James W. Alexander, were
present. None of the parties to the con-
ference would say what the purpose of it