Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-04-08

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holders and partly by policy holders, it
is hereby provided that the terms of Of
fee Of the directors heretofore elected
for the terms ending December 81,
1905, and December 81, 1906, shall ex-
pire on December 81, 1905, and the sue
cessors to such directors shall be
elected on the first Wednesday in the
month of December, 1905, and the
terms of office of the directors hereto
fore, elected for the terms ex-
piring December 81, 1907 and
December 81, 1908, shall expire on De-
cember 81, 1906, and the successors to
such directors shall be elected on the
first Wednesday in the month of De-
cember, 1906
Election of Directors.
At such elections the successors to
the class of 1905 shall be elected to
hold office for three years, the success.
sors of the class of 1906 to hold office
for four years, the successors to the
class of 1907 to hold office for four
years and the successors to the class
of 1908 to hold office for five years,
thus producing four classes Of direct
ors Of thirteen each, whose terms of
office will expire respectively in the
years 1908, 1909, 1910 and 1911. In
the election of each of said classes six
OF the vacancies shall be filled by
plurality vote Of policy holders, both
stockholders and policy holders voting
by ballot in person or by proxy, as
hereinafter provided.
Committee to Investigate.
ga resolution was unanimously
adopted that committee of three, con-
sisting Of Messrs. Depew, Belmont and
Krech, be appointed a committee of
the board to consult with the superin-
,tendent of insurance after the amend
ed charter shall have been approved
by him, and with the policy holders
committee, of which John %. Grim
minis is chairman, and to report to this
board at an adjourned meeting thereof
upon the following subjects. to-wit:
"The suggestion that the two exist
ing vacancies In the board Of directors
shall be filled by persons whose names
shall be proposed by the policy hold
ers' committee.
"The suggestion that the two direc-
tors thus elected on the nomination of
the policy holders committee shall be
made members of the executive COM
mittee Of this board.
"The suggestion that all vacancies
occurring in the board before the cleo
ton of 1906 shall be filled by this
board with nominees Of the two direc-
tors so proposed to be elected on the
nomination of the policy holders COM
mittee, this provision, however, not to
apply to vacancies in the list Of direc-
tors elected in 1905.
'The suggestion that two more mem
bers of the executive committee shall
be appointed on the nomination of
Cornelius N. Bliss. the committee in
GLIDING the four members thus pro-
vided for to remain at its present num-
Der of twelve.
"The suggestion that four vacancies
be created in the executive committee,
by resignation, or by the board, on the
designation of the superintendent of
insurance, in order to make way for
the proposed new members.
To Look Into Management.
Resolved, That a committee of
seven, consisting of Messrs. Bliss,
Mills, Prick, Hartman, Ives, Hill and
ingalls,, be appointed, charged with the
duty of investigating thoroughly and
reporting upon the present manage
ment Of the society.
Speeches were made by James ].
Hill, Milville E. Ingalls,, John A. Stew
art, Charles Stewart Smith, Brayton
Ives, T. Dewitt Cuyler and others, in
sisting upon cessation of the entire
controversy and of the use Of the
press, which is so injurious to the COM
pany. That while in the charges and
counter-charges there was no question
as to the solvency of the company, or
it's large surplus above all liabilities, or
the soundness Of it's investments, the
controversy was creating widespread
distrust and doing great injury to all
life insurance companies, and that the
committee of The board should and
would SO probe, and as a result of
their investigation so recommend as
to justify confidence in the company
and management.
"Chauncey M. Depew.
Cornelius N. Bliss
In the formation of the committee
to consult with the state superintend-
ent of insurance the name of Cornelius
N. Bliss was added late last night. 1t
was said this was done at the sugges-
ton of Mr.. Alexander
Bracket Denies Charges.
Albany, April 7-Senator Bracket
yesterday denied the statements of
Vice President Hyde's friends. charg-
ing that President Alexander had in
stigated his efforts to procure legisla-
tive investigation, and regarding his
other alleged activities regarding the
affairs of the Equitable Life Assurance
society. Senator Bracket declared
that he did not know Mr.. Alexander.
HARTMAN OWNS TO DEFEAT.
Will Take No Further Action in the