The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-29
NEW EQUITABLE DIRECTORS,
NINE MEN CHOSEN~21 RESIG-
NATIONS ACCEPTED.
Trustees Pick Men to Represent the Policy
holders anu Issue a statement Against
Which krech and Others Protest
j. II, HYDE Defends His Father.

j. H. Hyde Defends His Father.
Nine new directors of the Equitable Life
Assurance Society, each representing the
interests OF the policyholders, we're elected
at the regular monthly meeting OF inc
board yesterday. The new directors were
selected and suggested to the board by
the trustees of the Thomas F. Ryan stock,
Grover Cleveland, Justice Morgan j. O'Brlen
and George Westinghouse. They are:
f. b. Thomas of New York president OF
the Lehigh Valley Railroad; f. G. Bourne
of New York, president of the Singer Manu-
featuring Company; william Whitman OF
Boston, John j. Albright of Buffalo, F. W.
Roebline Of Trenton N. j.; j. d. Schmidt
lapp of Cincinnati, president OF the Union
Savings Bank and Trust Company; E. w.
Robertson of Columbia. S. c.. Joseph Bryan
OF Richmond, Va and E. w. Bloomingdale
OF New York.
The designations Of twenty-one OF the
old directors-nearly half the board-~ere
accepted. In fact. the board accepted
the resignation not only of every director
who had expressed a desire to get out,
but also the designations Of all except James
B. Forgan who had signifed their willing
ness SO to do. Mr.. Forgan's resignation
was held in allowance at his own request.
Included in the twenty-one designations
which were accepted were three new ones.
which came to the hands of Chairman Paul
Morton shortly before the board meeting.
They were from George II. Squire, who
was named in the Hendricks report as one
Of the James H.Hyde and Associates under
writer's; James j. Hill and Alfred G. Van
derbilt. The other designations accepted
were Of Cornelius n. Bliss, Charles Stewart
Smith, Brayton Ives, NJ. E. Ingalls,, A. j,
Cassatt, f. H. Hartman. Jacob H. Schiff.
T. Jefferson Coolidge, John Jacob Aston,
Marvin Hughitt, Henry c. Frick M. Hartley
Dodge, John A. Stewart, August Belmont,
D. O. Mills, Robert 7. Lincoln, John Sloane
and Joseph T. Low.
NEW DIRECTORS ARE PoL1cYHoLpHRs.
The new directors are all holders OF large
policies in the society. Although the
trustees have not yet made any definite
announcement in regard to the quallhca-
ton of these men, 1t was assumed that
an effort would be made 70 have them
qualified under the section OF the state
Insurance law which provides that any
policyholder in q life insurance company
il eligible to act as director. The opinion
was expressed by several persons yester-
GAY that this qualification was sufficient
and that it would not be necessary for the
new directors to acquire stock.
All Of the new directors were consulted
by the trustees before their names were
sent to the board, and agreed to accept.
As soon as their names had been accepted
a committee was sppointed ly the hoard
TO call on the trustees at the Hotel Buck
ingham and notify them of the new cleo,
tions. This committee was composed
Of GAG :. TaronI, Valentine P. SnyC or,
Alvin ". kr.ch, {, B. Alexander and Samuel
NJ. Innan. They visited the Buckingham
al > o'clock. Later the trustees gave out
this statement
statement OF the Trustees.
.To The PolcyaoIlers OF the Equitable Lie
Assurance .oocie'N.
Supplementary to the notice addressed
month, inviting an expression of Your
preferences. and asking your ald, not
only in the election of directors of said
society, to lie collected from your NUM- er
at the annual meeting OF the society IN
Decent er, bat also in DIR earlier recon,
mendatior to the toard OF directors of
policvholdecs TO fill vacancies existing In
said / oarG, wc now inform you that we
have tbl, day rcco,nmended certain persons
from your Lody TO fiji portion of these
vacancies
81 he reinforcement Of the board without
delay became imperative ly reason Of
numerous resi- gnstions, and the necessity
If a working purnl err Of directors for the
rroner transaction of the society's business.
More of these vacancies ought 30 he filed
in tho near future. Of course Il has thus
far cen iupos,,l' 10 for us to communicate
more directly than through the press
viii even a majority Of the GOO. coo policy
hoIGers of the society. or to ascertain to
,ha .ytent desired their preferences in the
matter If filing these vacancies; ut We
bore that We shall daily lie etter informed
# heir wishes In the premises, those
,rbo arc "a situated that they can thus
'co,,o.ato with us quickly could. " doing
s so irenGer n service TO the society and to
ali I've INTERESTS involved In any event,
q, Vii a orr effort To avail ourselves of
~ IN - l,nowled,-e and information within
a., 'n ,'o,ob r. sccure for directors from
gu gu ,r,[ri;cvhoidcrs such persons as are
asi,u ,,o ,,,;tb conservatives views Of manage
M, uoU and who viii regard as distinctly
NIL n,.;,a ~ dntv The use Of the funds Of
,ho s,oiatv. Gircctlv or INDIRECTLY. in the
Wv, a,;ar unGerwri,inp or syndicating
Pss ..', and ,,ncort,in eSterprises or the
~ Nv If s,,cl funds in speculatiye
~ 49, nni securities
n.r,, n',blshed rnnorts of those who ha va