The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-19


conference adjourned for fifteen minutes,
Upon reaSsembling l. Layton Register OF
Philadelphia was made temporary chair
man. Later Henry j. Powell Of Louis
vile was elected chairman. Soon after
reassembling the conference passed. this
resolution. as reported by the committee
on resolutions:
The business Of life insurance Is the most
sacred trust bestowed upon corporate
body Any company engaged in handling
funds for the protection OF the innumerable
bsneAciaries can enjoy no permanent success
except upon principles Of INSCRIPTIONS hon
csty aud oiIlcered by men OF unquesioned
personal character, these together guarantee
needed corporate cleanness. with " hlch
public confidence can be maintai ned
Whereas James W Alexander. as presI-
dent Of the Equitable Life Assurance So
Ciety OF the United States, has found II neces-
sary to take measures for permanent IN
trenchment OF the socety's management
beyond the control Of any other interests
than those OF is policyholders, for whose
benefit and protection the Equitable has been
uniformly held to exist and ought to exist:
Whereas thu gen efsl agents and managers
OF the Equitable constitute with their respec-
tive agents the only body connected with
that society which does not receive It's remu-
neration IA the form OF salary, but derives
it, only benefit from participation In the
active progress and prosTcrty OF the Equi-
table through securing new polcyholders and
caring for old ones and cons quently suffers
an immediate financial loss when this cannot
be done:
Resolved That now. in conference assem-
bled, We do pledge 10 the president our IN
qualified support In his every effort to protect
the management Of the society to which
We are all so devoted, so as 10 safeguard for
AL time the interests Of the polcyholders;
RCsoirCd That we express our en- tire conf
deuce that the president will continue I'M
falterin9ly and purs lie the work Of mutualI-
cation which he has so courageously begun.
RCsoir'd. That We urge upon the directors
Of the Equitable the imperative necessity
Of the speedy adoption Of the presidents
recommendation az the best means Of con-
serving the interests Of the society OF the
policyholders. Of ourselves and our faithful
agents throughout ths field in the life work
We have chosen.
CONFIDENCE IN TARBELL.
Then an adjournment was taken for
lunch. Al the opening Of the afternoon sos-
sion the matter Of resolution expressing
confidence in Gage T. Tarbell was taken up.
There was some little opposition to this at
first. II was said that IL such resolution
was passed in respect 10 the second vice
president some action ought 70 be taken
in the interest Of Mr.. Hyde. This suggestiC
found few supporters, though, and this
resolution, reported by the committee on
resolutions, was unanimously adopted:
"Resolre1, That We do hereby express
our unqualified approval Of the firm stand
taken by Nice-Prt sident Gage E. Tarbell
In ~ ~ the aiIppf on fba
issue Of mutUalizing the 80, iety and placing
It's ADM nistratiOn upon broad, sound and
equitable foundations. He has thus in
creased his strong hold upon the affections
Of the so i0ty's agency force and deepen.
our confidence in his attachment TO the
hest interests Of the society and in his
ability and r. adinCss to safeguard and
promote those interests. We hereby record
our admiration Of his worthy and capable
leadership.
HOPE INVESTIGATORS WILL BE SPEEDY.
Then was passed by unanimous vote
the resolution indOrsing the Hartman in
vestigatinR committee: II follows:
"Wh .rejs the board Of directors Of the
Equitable Life Assurance Society have
appointed an INVESTIGATING committee 10
examine into the affairs OF our society,
and
Whereas tn, letter Of Mr.. H. c. Frick
to the pr sident ind ates that the invcs-
tigation is To be prompt, scar hing thor
ough and impartial; therefore be il
Re sOired. That we regard with pro-
found satisfaction the character Of the
investigation outlined, and that we hope
that the result will he the means Of plating
the society upon a still stronger foundation
Of public confidence
'Resolred, That we regard the character
Of the committee under such a chairman
az Mr.. II. c. Prick as a certificate Of thor
oughness and imIartiality;
"Resolred, That we urge the committee,
in order TO relieve the trying situation,
to exercise all possible expedition con-
sistent with thoroughness.
SURPLUS BELONGS TO PoLIcYHoLDERs.
Rudolph Bohn Of this city then intro
duced resolution calling on the directors
Of the society TO declare the policyholders.
interest in the. society's $50, 10000 surplus
IL was carried una MIN ously. The resolu-
ton calls upon the society for q definite
official announcement Of the following
facts;
"First-That the business has always been,
aud must always be- conducted on the mutual
aSecond-That the entire surplus belongs TO
pOliCyhOldeTs exclusively.
receive its due share Of s trpius profits in
accordance with the terms Of each contract.
respectively.
'Fourth-That the agents In soliciting bust
ness on this basis have acted with due au-
thOrity, and
FIFTH That the polcyhOtders have no
ground for apprehension or doubt in the
premises.
LEGISLATURE INVOKED.
The resolution calling for action by the
Legislature was the last adopted There
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