The San Francisco call., 1905-06-16
THE NEW EQUITABLE.

THE Equitable Company is the most conspicuous OF
the MANY which humble financial foundation
well and wisely managed grown with the growth OF the
country interviewer into credit ana enter
prise that and condition the financial STABILITY
of the whole country When remembered that following
period of great prosperity OF Western concern the
Ohio Company precptaed the panic OF 1857 1t IS easily
seen that an institution Equitable permitted to slump
might plunge the whole country into credit panic lhere
be used the great Wall and that they were
struggles of railroad stock obbers in their policy
of seizure Of leading railway lines OF the country.
But upheava the institution not caused d
rey by these of its capital That conflict started
in high feast given by the man who controea majority o. m
the ensuing examination other facts were revealed
be preserved and the interests OF Its Poc hoder pro
1t gratifying that with all the seeming progac ana
funds speculative enterprises the credit OF
company found be good and its vast reserves SO intact
that policy holder lost confidence.
In order condition reorganization has been
Mr. Paul Morton has been at the head OF the com
pany doubtful American be found who unes the
degree as does Mr. Morton
esary training Wall in the financial cen
prairie of father who all respects
Rejecting the opportunity for uni
subordinate desk railroad Office and from that foot
hold he forward the substantial control OF the Santa Fe
President Roose
That public service he leaves take position OF
responsibility than the chancellor national exchequer in the
world
The matter of Equitable of such public importance
that the whole country es sense OF reief that the company
has been another recognition of the value financial ns
OF the element of personal integrity thesselection OF Mr.
higher his than by aiding the maintenance OF its
security oundnss Mr. Cleveland accepts the place
duty In his acceptance he describes the situation
with his usual and cearnes by saying rid
myself Of the belief that what has overtaken this liable
happen other and hducay organizations
lax ideas OF responsibility places of tolerated
people The high pressure speculation the madness OF
sceming the chances and
enterprises constantly present temptations often
leading and directors from scrupulou
fidelity the OF others confded their
Ne afford sacken pace than abandon old
simple standards of honesty and shall be safer regain
old habit OF looking the appropriation personal property
and held the light other forms Of
stealing"
The appreciates that kind Of talk and every feels
property and his credit because this great financial
passes into such guardianship that the light will
upon similar institutions that become OBJ
cs suspicion until they will all be purged completely of any
reckless elements that have their We
all equally interested in this 1t and powerful way by
which avoid pancs and mitigate their severity when
they Insurance OF deposit for such
wealth the country devoted that form
property of against the accidents and mortunes
OF life They all merely much the banks and
companies The public has the their right
mnistration and honesty OF management.
The movement started by extravagant incident in New York
and ending bringing Morton and Cleveland into the Equitable
management will be spent until the public has the
that all similar safe hands.