The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-11
ference with President Alexander which

! After Mr.. Morton had conferred for an
hour with Mr.. Ryan in the latter's Office
In the Mutual Life Building he went back
Tor another conference in President Alex
ander's Office. This meeting was attended
also by Mr.. Hyde, the three other vice.
presidents, Gage f. Tarbell. George T. Will
son and W. H. Mcintyre and the society q
secretary. William Alexander.
The conference lasted almost two hours.
When 1t broke up Mr.. Morton announced
that they had been considering the adj
visibility OF sending out a letter to the
policyholders and one also to the agents
OF the society, but had decided to wait until
the meeting OF the executive committee
on Wednesday .
The details of the transaction for the
transfer of the Hyde stock were completed
yesterday afternoon and Mr.. Hyde handed
over his holdings to the policyholders'
group, receiving check for the amount
agreed upon. Reports differed yesterday
as to what this amount was and no definite
statement could be obtained from the prin-
cipals In the transaction. One report had
1t that the price paid for the stock was
much nearer 81, OO0, 900 than 100000.
1t became known yesterday that one OF
the reform features that will be introduced
by the new management will be the limit
ing Of the societys investments in the
future to practically savings bank basis.
That Is the investments will be confined
to real estate, mortgages and approved
classes Of State, municipal and railroad
bonds. This plan, It was said would not
affect the securities which the society holds
now.
The opinion was expressed generally
In Wall Street and in insurance orioles
yesterday that the sale OF the Hyde stock
and the action taken by the officers Of the
society at the boards meeting on Friday
are going to result in a permanent settle
ment OF the Equitable troubles. Said
Senator Chaunoey M. Depew
Everything is peaceful, and I believe
there is to be no more friction in the future.
Mr.. Morton is an exceptionally desirable
officer for the position. and consider him
as eminently fitted not only through train
ing in great business enterprises but by
reason Of his being OF the right age. He Ia
energetic, cool headed and able. believe
the directors and policyholdens alike hold
this opinion OF him."
Melville E. Ingalls,, the director and
member OF the Frick investigating COM
ulltCcc WIZ TCblHIlcu dltSi VIC AiiSh iSEo'V
was rejected, said In Cincinnati yesterday:
Il believe everything WAS along the right
lines. For one thing. the one man power
is done away with. Paul Morton Ia good
man for the place. In due time, no doubt,
the high salaried ones will have to go. and
there will undoubtedly be many other much
needed reforms.
Il have known Mr.. Morton for twenty
five years and consider him an able and
excellent gentleman
Mr.. Ingalls, intimated strongly that the
directors who have recently resigned
would very likely under the new admins
tration readily consent to reconsider their
determination to get out and would before
long again enter the sooiety's directorate.
The general managers and agents Of the
Equitable who arc worrying about the ad-
vanoes which they are going to receive
under the new management, or rather the
lack Of them, continued yesterday to hang
around the corridors OF the Equitable Build
ing. They all asserted that they were going
to remain loyal to Gage E. Tarbell and
that they would do everything in their
power to prevent the new management
from accepting the resignation which the
second vice-president has placed in the
hands OF Chairman Morton.