The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-09
BROKE UPEQUITABLE CONFGB.
PROCESS SERVER LANDS DEPEW
~ BRACKETT SUIT.

Directors Only Decide 20 wait for Friok
Report Before Doins Anuhlng-TO
Meet Again BY MAY ~ Dupt.
Hendricks Measures POlicyhOlderS.
/ The informal conference Of directors
Of the Equitable Life Assurance Society.
executive Officers excluded, called by JACOB
H. Scbih 20 pave the way for the shelving
OF the present executive officers, adjourned
after forty-five minutes session yesterday
afternoon. Nothing was accomplished
save the adoption Of a recommendation
that q meeting Of the board Of directors
be held before May 81 and that the report
OF the Prick investigating committee be
submitted. II possible, at that time.
The Alexander party, against whom the
conference was supposed 20 be aimed.
declared after the meeting that Mr.. sohifi's
efforts turned out a hzzls. The resignation
OF Mr.. Alexander and the other officers, II
was asserted, was not brought up in the
meeting, a. originally planned, because
the persons behind the conference per-
oeived that such a move would he futile.
The discussion Of the executive manage
ment Of the society however. might have
assumed a place Of larger importance in
the conference were Il not for an incident
which happened about half an hour after
the meeting had been called 10 order.
young man called at the door Of the
board room and asked TO have his card sent
In 10 Senator Depew. His business was
important. he said, and could not be de-
hyed. Senator Depew appeared. and the
young man handed him summons in the
suit brought for Mary S. Young Of Sara
toga by Senator Bracket TO compel the
Equitable directors TO account for the
society's funds Senator Bracket has made
every one Of the fifty directors defendant.
Senator Depew was the first served. From
that time until the conference adjourned
the discussion among the directors had TO
do almost entirely with the subject Of the
personal responsibility Of the directors.
No attempt was made 70 serve any Of the
other. direction.
The conference began at 5 O'Clock. Only
twenty-three Of the fifty directors attended.
They were Louis Fitzgerald. Chauncey
NJ. Depew. H. G. Deming, George II. Squire,
Charles s. Smith. A. W Krech John J.
McCook c. Ledyard Blair. NJ. +. Ingalls,,
Z. II. HarT man, Jacob II. Schih, c. B.
Alexander NJ Hartley Dodge, j. +. de
Navarro, Bradish johnson, August Bel
mont. d. o. Mills. George J. Gould, Thomas
T. Eckert. II. NJ. Alexander, II. c. Hasr-
stick, d, II. Moffat and Joseph T. Low.
The executive Officers who were excluded,
besides President Alexander and Vice
President Hyde, were T. d. Jordan. Will
liam Alexander. Gage +. Tarbell, H. r.
Winthrop. George 7. Wilson and ". II.
Mcintyre
The fact that Henry c. Prick did not at
tend the conference lent color 20 the state
ment that Mr., Prick regarded the action
Of Mr.. Schih and the other directors as
an aifrOnt TO the investigating COMMITTEES.
Cornelius n. Bliss and Brayton Ives
the Alexander men on the committee,
were also absent. One Of the directors
who was responsible for the call for the
conference denied, however, that Mr..
FTck was put out. He said that the chair
man had written a letter to Mr. Hartman
10 which he stated that he was in thorough
aooord with the purpose OF the meeting,
but that he felt that his presence might be
inopportune, II not indehcate.
Mr.. Schih called the conference 10 order
and stated it, object. The whole tone Of
his proposition was that something ought
TO be done at once 10 quiet things down.
Schih intimated that he was willing, II
stopped, The public, he said IL heartily
Of tho Officers. Without Offering any
definite proposition Mr.. Schih suggested
that some man Of prominence In whom
the public has faith ought to be brought
into the society without delay.
Mr. Ingalls,, Mr.. Low and Mr.. Mills re-
piled. Il was aid that they attacked
him and other directors and declared
that they would not consent 90 anything
final until tho report Of the FTck investi-
eating committee had been made. Mr..
Mills, Il y understood, went 80 far as 10
say that the capital stock Of the Equitable /
ought 70 be retired by the Legislature,
Speeches we're also made by L. H Harri- !
man, Charles Stewart Smith George j. ,
Gould and Senator Depew. As soon as :
II became apparent TO Sir. Schih nd the /
Others behind him that nothing definite
could be accomplished the meeting was
adjourned,
The formal statement Of the conference ,
proceedings issued for the newspaper /
SAYS: a
Speeches we're made. with suggest ons
covering the future management Of the |
society and the action which the speakers
IN ou ght the board Of directors should take |
at their meeting IL was unanimously
decided that Il would be unwise before tie
report Of the investigating committee and
the meeting Of the board for any rssolu-
ton to be adopted OF any definite action
81 ggested. The only affirmative action
taken was that the board should be called
together not later than May 81 and that the
committee should, II pos
'ible, then make its report.
One ot the most important suggestions
made at the conference, according to
iirectoT who attended was that In view Of
he tangled situation II which the proposed
charter now Is, relief ght to be sou ght