The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-18
CAN'T BLOCK EQUITABLE PLAN
UNDERH4ND EFFORTS AGAINST
WORK or TRUSTEES FAIL.
Directors to Be Named by POlicyh elders
to Qualify All Right, It's Announced
on Behalf OF Nlr. Ryan-NO Overt Act
Yet Made Against New Management.

No study of a situation, II became ap-
parent yesterday, has been marked with
such keenness as the recent developments
| in the Equitable Life Assurance Society.
For the last few days it has been known
| in certain circles that one or two prominent
men who were particularly notorious and
| decidedly offensive under the old manage
ment of the Equitable were exceedingly
perturbed if not actually envious Of the
determination of Thomas +. Ryan to
straighten out the affairs of the Euuita BILE.
and by the action of the three trustees,
Grover Cleveland, Morgan j. O'Brien and
George Westinghouse to turn the society,
from the most exalted to the hum blest
department, over to the 100000 policy
holders.
Up to late last night, it was said, no overt
act by those who have sought within the
last few days to poison the atmosphere
against the new management has been
committed But it is well known that the
one or two notorious ones who have not
felt at all pleasant over the new situation
were those who declared unreservedly
and without stint that never with their
consent would the naturalization plan go
into operation These statements were
hgh seats in the Eluitable's affairs, but
since their dethronement they have had
little or nothing to say but have confined
themselves to subterraneolis efforts to
thwart the trustees in their work to re-
habilitate the society and to hand it over
to the poicyholders
Little or no attention, it was added, has
been given up to this time to the conduct
Of the disappointed ones; those who, when
they had an opportunity, refused point blank
to accede to plans to mutualize the society
for the benefit of the poicyholders. The
pocyholclers' committee and the most
conservative interests have Endorsed the
new mana cement and the new trusteeship
of the society, and everything is proceeding
in shipshape order, notwithstanding the
antics of one or two whose methods are
born Of jealousy and disappointment.
Harry C. Macedonia. one of Thomas F.
Ryans lawyers. gave out this statement
yesterday in reply to opinions that have
been exi pressed in the last two or three
days that there would be difficulty in quail
fying directors for the Equitable board
under the Ryan naturalization plan:
The question, of qualifying policy
holders selected by trustees to serve as di-
rectors of the Equitable Life Assurance
Society was fully discussed by Elihu Root
and Mr.. Cravath with Mr.. Cleveland and
other trustees, and it was agreed that Their"
would be no difficulty in qualifying such
poicyholders in conformity with the law
ami the society's charter. There is, ac-
cordingly, no ground for anxiety on this
score"
1t was learned further that Mr. Ryan
would not let anything stand in the way
Of carrying out his plan of naturalization.
The rrangeuent of details in regard to the
qualifying of directors has been left ny
him entirely with the trustees and 1t was
said yesterday that he was willing to make
any supplemental agreement with them.
if necessary. to carry the plan into effect.
The announcement by Mr.. Ryan's at
torney that this matter will bc arranged
satisfactorily was regarded yesterday as
removing the last obstacle that opposed
the present naturalization plan.
State Superintendent of Insurance
Francis Hendricks did not as he had in
tended go to Syracuse yesterday. He re-
NAMED at his Office downtown putting the
finishing touches to his report. The re-
port will be made public on Monday or
TUESDAY