The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-05-12
THE EQUITABLE
LIFE SQUABBLE
UNPLEASANT FEELING CROPS
OUT AMONG DIRECTORS.
Call For Conference Has Caused Re
newal of Bitter Controversy
In the Board.


New York, May 8.-Unpleasant feel
ing among several members of the
board of directors of the Equitable Life
Assurance society has been engen-
dered by the informal meeting of the
board which was held this afternoon.
The meeting today was in the nature of
conference, and % members of the
board attended. The conference was
called at the instance of Jacob Schiff,
but that fact did not develop until after
the conference. The call for the meet
ing was unsigned, and the executive
officers of the society were not invited
to attend.
Admission was made today by ad-
herents of both the Hyde and Alexan-
der factions that this secret call for
conference of the directors had caused
bitter controversy to spring up be-
tween certain of the directors. 1t was
intimated that several of the. directors
regarded the call as a direct slight
upon Henry c. Frick, who is chairman
of the investigation committee now
looking into the affairs of the society.
In this connection 1t was said that the
members of the Frick committee real
lied that slight had been put upon
the committee by a call which might
be taken to mean that there would be
some basin the findings of the commit
tee.
The conference was concluded after
o'clock this afternoon, and Senator De-
pew gave out the following statement
Of the directors deliberations: "Twen-
ty-three members of the board were
present. Mr.. Schiff called the, confer
ence together. stating that he was not
alone responsible for the meeting, but
that many of the directors had spoken
to him of the necessity for the direc-
tors meeting, and comforting upon the
present situation and conditions in the
society, and then stated, at some
length, the reasons which he thought
necessitated a general conference be-
fore official action should be taken by
the board. Mr.. Charles s. Smith was
AhouO Shuii mani buI nv oNSiCl was
appointed. In order that it should not
take the form Of meeting but merely
be conference, speeches were made
with suggestions concerning the future
management of the society and what
action the speakers thought the board
of directors should take at their meet
ing. Every speech took the form of
suggestions, and were made by M. E.
ingalls,, d. o. Mills, Jacob Schiff, c. S.
Smith e. II. Hartman, ]. A. Low, Geo.
j. Gould and c. M. Depew.
ut was unanimously decided that It
would be unwise, before the report of
the investigating committee and the
meeting of the board of directors for
any resolution to be adopted or any
definite action suggested. The only af-
firmative action was that the board
should be called together not later
than May 81, and upon ample notice. SO
that the directors from distance could
be present, and that the investigation
committee should If possible try to
make it's report"
None of the directors would talk af-
ter the meeting concerning the trouble
that had been caused by the secret call
for the conference.
"All have to say" said Jacob Schiff,
"is in the statement made"
A controversy in the board following
the one now being bitterly fought out
among the executive officers would
greatly complicate the Equitable tan
gle. Prompt disclaimers from the di-
rectors concerned in the call of the con-
ference of any slight intended to any
one are awaited.