The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-28
NEW EQUITABLE OFFICERS.
DIRECTORS MEET TO-DAY TO CON-
SIDER CHANGES.
Morton to Preside, and Successors to Alex.
ander and Hyde May he Named-Four
More ReslgnatiOns-T OF the
Ryan stock Are in All Day Meeting.

Mort on to Preside, and Successors to Alex.
ander and Hyde May he NAmed-FOur
More ReslgnatiOns- Trustees OF the
Ryan stock Are in All Day Meeting.
The regular monthly meeting Of the
Equitable board Of directors to-day will
he the first at which Chairman Paul Morton
has presided. Important announcements
are expected from him regarding the resig-
nations Of the officers which are still in
his hands and other matters Of equal i'm
portanoe in the new housekeeping policy.
The reorganization of the executive
committee Is one of the things that probably
will be taken up at the meeting. The board
voted several weeks ago to cut the men,
bership Of the committee from twelve
to seven. Under the new plan it Ia to be
made up Of the president, first vice-presi-
dent, comptroller and four other directors.
Since the resolution providing for this
reorganization was passed Mr.. Alexander
and Mr.. Hyde, the president and first vice.
president Of the society, have resigned, and
before the change can be made their sue
cessors will have to be chosen.
This. 1t was said yesterday is another
Of the important things that will probably
| come up for consideration at to-days
meeting.
The executive committee Is made up at
| present Of James w. Alexander. James
H. Hyde. Gage E. Tarbell. w. H. Mcintyre,
George T. Wilson, Chauncey NJ Depew,
v. P. Snyder, A. w. Krech, II. c. Deming,
H. C. Frick, d. Jordan and w. A.
Wheelock Mr. Hyde is chairman Of the
committee, and in the reorganization he Is
pretty sure to be deposed.
Gage L. Tarbel, W. H. Mcintyre and
George 7. Wilson as vice-presidents will
lose their places on the committee.
The trustees OF the Ryan stock-Grover
Cleveland. Justice Morgan ]. o'Brien and
George Westinghouse will probably have
an important communication to send to
yesterday afternoon at the Hotel Bucking-
ham and again last night, canvassing the
| men whom they may recommend to fiji
the vacancies In the directorate. They
will meet again this morning and before
adjourning they hope to be able to make
Recommendations for some Of the vacancies
| In all nineteen designations have been
| handed In. There were four new ones
yesterday, They were, Charles Stewart
Smith: J. B; Forgan Col. John Jacob Astor
announced that he had written critical
| letter" to Chairman Morton setting forth
his reasons for resigning, but that he would
not make it public, although he would, he
| SAID, allow MT. MOTION tnat privilege. MI
Morton declined The other three, it was
said, had resigned largely as a matter OF
etiquette etiquette ,uos NJ, uo,.on cold oh.oh,.o,v
no hostility in the directorate and he con-
sidered the designations a matter Of form.
1t was understood, he said, that nearly
all the remaining members of tho board
are ready to resign IL the trustees wish it,
and those who had handed in their resigna-
tons had done so with the understanding
\ A.. AI-- 20 Ho arAnI
upon at the discretion of the trustees. In
accepting designations Mr.. Morton said that
he would be guided by the wishes of the
trustees.
While the trustees were in session at the
Hotel Buckingham yesterday they were
visited by committees representing policy
holders from Massachusetts and South
Carolina These committees suggested the
names of several men that they would like
to have the trustees consider for places
Austen G. Fox and Wallace Maciarlane.
the lawyers chosen by Chairman Morton |
TO cooperate with the Attomey-General |
and the Department Of Insurance to COM
belong to the polioyholders consulted yes
terdav with the accountants. 1t will prob
ably be several days before they will be in
a position to announce anything definite.
Herbert Myrick, president Of the Orange
Judd Company, has sent this letter to Supt.
Hendricks:
SIour report upon corruption in the Equi-
tahle-upon the graft, stealing and dishon-
esty that has permeated that great concern
for so many years-adds fuel to the suspi-
cion that the other great insurance COM
panies may also be culpable.
My life Ia insured to an amount exceed
ing 500 COZ in the Mutual Life Insurance
Company Of New York. I am paying the
premium due July /, but feel justified in
respectfully calling upon you to at once
make the same searching investigation into |
the Mutual Life, and an even more COM
prehensive and unsparing report. as you
have done in the Equitable case. believe |
also that many thousands OF the small
policyholders and all the large policyholders |
in the Mutual Life would join in this demand |
IL opportunity offered,
This should be followed by similar in
vestigation Of the New York Life Insur- !
ance Company, In which am also policy
holder.
IF the history, record or present condi-
tion of the Mutual Life and the New York
Life are all right, your warrant to that
effect will be a benefit to both companies
and satisfaction to every policyholder
On the other hand il there Is anything
wrong about either of these companies
the sooner it Is unsparingly exposed and
wholly rectifieC, the better for all concerned
Chairman Morton when asked last night
in regard to a report that Mrs. Henry B.
Hyde, the mother Of James II. Hyde. had
voluntarily asked for the discontinuance
vi the pension Of $4,000 which she re.
ceved from the Equitable said that he had
not heard Of any such action.
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