The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-08
CLEVELAND WON'T RESIGN.
ON THE CONTRARY, rs HELPING
EQUITABLE REFORM PLANS.
Trustees Held Conference Yesterday on
Names Suggested for Vacancies In
Board Of Observation-Disclosures Asked
to Certify That Society Is solvent.

to Certify That Society Is solvent.
The story published yesterday that Grover
Cleveland is going to withdraw as one Of he
trustees Of the Equitable stock bought from
James Hazen Hyde by Thomas F. Ryan was
denied emphatically by Mr.. Cleveland The
exPresldent authorized this statement:
Nothing has occurred thus Ear to dis
satisfy me in the least, and the idea Of re-
firing from the trusteeship has never en-
tered my mind"
The story served to bring out the fact
that Mr.. Cleveland, instead Of thinking of
retiring, is on the contrary more deeply
Interested than ever in the reorganization
of the society and is practically giving his
entire time to cooperating with Chairman
Paul Morton in planning reforms. 1t was
expected when Mr.. Cleveland was named as
one of the trustees of the Ryan stock that
his voice would be dominant the future
policy Of the society, but 1t az hardly
thought that the ex-President would care
to take the time or trouble to consider the
details Of management.
The two other trustees, Justice Morgan j
O'Brien and George Westinghouse, al
though appointed as was MIR. Cleveland.
merely TO select the society's directors and
vote the Ryan stock. are joining the eX-
President in cooperating with the new
management in outlining the society's
future
If Mr.. Cleveland caused any inquiries to
be made concerning the status of Equi-
table affairs. he had, it was said yesterday,
done so merely for the purpose Of satisfy
ing himself in regard to the legal aspects
of his position as trustee. Wayne Mac
Yea Oh, who is a Close friend of Mr.. Cleve-
land called at the Attorney-Genr ral's
office in this city several days ago and it
was reported at that time that he had made
the visit in the interest Of the ex-Presdent
to get from Mr.. Mayer his general opinion
on the situation. 1t was not denied yes
Mr.. Cleveland in this way. but the step
taken 1t was declared was nothing more
than any man would have done in ACCEPT
ing a place Of great responsibility such
as the trusteeship.
Mr. Cleveland has been at the Hotel
Buckingham since last Wednesday engaged
most OF the time with Equitable affairs.
Yesterday he was in conference the greater
part Of the day with Justice OBrien and MIR,
Westinghouse going over the names of can
table directorate to fill the nineteen vacan-
cies still existing. The suggestions have
come In letters from poicyholders all
over the country and in communications
from policyholders organizations. AL
though in genera way the have
we'll in mind no definite announcement
will be made until next week, when meet
ing OF the board of directors will be called
to act on the names
Chairman Paul Morton was at his desk again
Yesterday and was kept busy all day dis
posing of the business that had accumulated
during his absence with the President at
the Hay funeral. He was asked whether
the retirement of Elhu Root as counsel for
the Equitable would have any Very great
effect
we are" said he, very sorry indeed to
lose Mr. Root, but what is our loss is the
Presidents gain.
Mr.. Root was in conference yesterday
morning with representatives OF the new
mana cement but nothing was given out
for publication in regard to the meeting.
II was said yesterday that Samuel Inter
myer, James H. Hyde's counsel would sail
for Europe next Tuesday to be gone for
two months. and that Mr.. Hyde also might
go abroad about the same time. Whether
MIR. Hyde will go or not will depend largely,
it was said yesterday, on what District
Attorney jerome has to say when he returns
from Kansas next Monday. Mr.. Hyde
intended to leave the country, but the re-
ports of the District Attorneys intentions
in regard to criminal prosecutions deferred
him, although Mr.. Hyde's counsel received
word from Mr.. jerome that he knew of
nothing that was likely to prevent Mr..
Hyde from leaving. Mr.. Hyde, it was said
Yesterday, did not want to appear 70 he
evadng anything in connection with the
Equitable scandal and he will probably
not leave until he has heard again from Mr..
jerome.
The society's executive committee held
its regular meeting yesterday, but nothing
her than the routine business WIS trar -
acted Chairman Norton presided, and ex-
Chairman James Fl. Hyde attended
It was learned yesterday that the meet
ing OF the metropolitan agents ii Genera
Manager Archibald Haynes's office, at %
Broad street. on Thursday resulted in the
appointment of a committee, made up OF
John W. Keller and Agents Cordner and
Cornell, to wait upon Supt Hendricks and
ask him to issue formal statement over
his signature to the effect that he has found
the Equitable society entirely solvent
Mr.. Hendricks stated this fact in his pre-
limnary report and also in formal an
nouncement made before the publication
Of the report. The agents say, however,
that they think ether statement from
Mr.. Hendricks over his signature will help
them in soliciting business. The agents
were advised by Mr., HAYNES to get out
and hustle for participating instead
OF deferred dividend policies. Non-par-
ticipating insurance would not result in
such large surplus being carried by tie
society.
NOPE GRAND ,JERDRS ROB J'P