The sun., 1905-09-12
MORToNTALESTOfHBA AGENTS
TELLS THEN THE EQUITABLE
WILL EMPLOY SAFE METHODS.


Aims TO Remove the Insurance Business
From Politics and Not 70 Kun IL ~ .
Banking House Adjunct Moro Econo-
mics Pianned-Inquiry On To-Day
At q convention Of Equitable Life AS
suranoe Society agents at Manhattan Beaoh
Yesterday afternoon President Paul Nor
ton outlined the policy which the new man
apemept will pursue in conducting the So
cietv's business. Mr.. Morton declared
that he wanted, among other things 70 500
the insurance business removed as laI AZ
possible from the field OF politics. ana
he promised the agents that he woulq 90 :
operate In every possible way 70 nave
enacted proper laws safeguarding 'ne
poNcyholden' interests.
More than 100 agents are in attendance et
the convention, which was called IN Iui.
fillment Of Q proposition made by tho OLD
management Of The society last December.
This proposition was that each agent writ
inR business In excess Of o. certain amount
in the first three months OF the present
wear sbould be entitled to attend the CON-
vention at the sodety's expense.
Most Of the agents are stopping at tne
Manhattan Beach and Oriental Hotee'
and Yesterday whenever they poked Their
nose out Of doors they had to pull their
hats down tight on their heads and turn
their coatcollars up. The convention will
be in session for two moro days. Besides
President Morton, several others OF the
Equitable officers, including second wee
Preeident Gage Z. Tarbel, Third vice.
President George T. Wilson. Comptroller
william A. Day and Financial Manager d.
Rogers winthrop, attended the session: On
agents ; a WITH great favor. He said 10 part:
Il am going to say few words on your
new administration. Thore will be no
attempt to make 1t dazztngly briinanI'
the effort will be to make 1t honest cour-
greatest consideration shown for the
policyholders, and at every turn their IN
terests will be protected. All OF the new
directors are policyholders.
.Busine sslike methods will prevail and
retrenchment will be the order OF the oay'
The more economies Of she Ign Va s0t 70 the
polioyholders. and the old saying that money
saved is money earned applies with grea
force In the insurance business Invest
ments will be the highest character. Ihe
institution will not be run az an adjunct OF
owner Of securities will have chance 70
deal with us, and our aim will be to buy the
very best at the very lowest prices: The
cheaper the society can be properly al.
ministered the better We can invest our
earnings and the better showing we can car
our insurance.
II want to see tho insurance business 10:
moved az far as possible from politics. ]
believe In proper laws safegusrdinE tne
sacred trust Of life insurance and VIII 90.
laws With that end in view. We shall all
work to put the business Of life insurance on
the elevated plane /. ought e occupy
@The new management Of the Equitable
will insist on an annual audit OF its anairs
There will be no attempt to deceive any
body. not even ourselves: Retrench-
ments are the order Of the day In the Equita-
bic. know they already amount to over
$500 600 per year, which is equal to per
cent. on an investment Of 3l6 900 900. They
we are through, and l am sure We wll
satisfy not only our own policyholders anG
our own agents, but the many who will
want what we have to sell.
II have great ambition for the Equitable
not only want 1t to be the greatest and the
life insurance society In existence. want
It to be the ono that agents will like the most
to work for. want 1t to be the one with
which fnanoiers and bankers will always
1891 Cnoy can nave oQOAlo O00is wal.
II to be the ono that polfcyholders can point
to with the most pride, and above all want
it to be the one that everybody, whether
outside or inside, can refer to as the idea
institution Of its kind. ] want 1t to be the
strongest, morally a. we'll % financially"
ARMSTRONG QUE GOES ON TO-DAY.
The Armstrong insurance COMMITTEES
will resume its INQUIRY into insurance con
ditions In this State at 1880 O'Clock thii
morning In the Aldermen's room in th'
City Hall. Tho committee from now .ol
will hold four sessions q week, beginninl
on Tuesday. and ending its work Tor ths
week on Friday. To what extent the policy
holders participate in the government o
the so-called mutual companies and othel
questions relating to the organizatio!
and government OF such companies vii
engage the attention Of the committte th'
most OF the week.
Further inquiry will be made into tn
transactions by which the New York LII
disposed Of assets objected to by the Prus
sian Government, and also into the syndi
cate operations OF several Of the Mutual
trllatANe,