Rocky Ford enterprise., 1905-09-29
CLEvELAND'S LETTER
As TRUSTEE OF THE EQUITABLE
naturalization Of the Company viii 30
Diffieult-Poiiey Holders Mostly
VI Informed and Indifferent.

New York. Sept. 23-Syndicate oper-
ntions OF the Equitable Life Assurance
Society were taken up by the insur-
ance investigating committee yester.
day and consumed the entire afternoon
session.
Henry b. Winthrop. assistant secre.
tary and financial manager Of that so
ciety. was called to the stand immc-
diately after recess and presented and
swore 10 n record of syndicate partici-
pations of his company. also to rec
ord OF sales and purchases Of securi-
ties for the past Ave years.
Just before Mr.. Winthrop was exam.
ined Mr.. Hughes read n long letter
from Grover Cleveland. who IL tris-
tee for the policyholdcrs In the Equit-
able. under the Thomas +. Ryan trust
agreement. Thc letter was offered In
evidence.
After II statement OF the action OF
the trustees. Mr.. Cleveland says:
The trustees feel that In the dim
culties that have confronted them. In
asmuch as they were compelled to net
promptly under the powers conferred
by the trust agreement. the results Of
their care and labor have been as sat
isfaciory as they could have possibly
expected. They are not blind, how
ever. To the fact that obstacles lie In
the path OF the proposed naturalization
which are 81 inherent that even with
the greatest study and care they can.
not he easily overcome.
Naturalization and policy holding
control are pleasant To the ear. but in
and OF themselves they do not ncccs.
aarily impart good adminiSi ration or
successful management. II policy
holders ARE To be allowed control. they
should In some way be made to rcalix.
their responsibilities as well M their
privileges. There ar. probably nearly
half million indiyiduhiH who ar" pol.
Icy holders In the Equitable society.
and yet II would be giving a high cs,i.
mat. To plac. I'll. number who hay.
thus far made the least effort. directly
or Indirectly. To acquaint III" trustees
with their preferences at $4,000. and
their desires when made known hAy.
often been So paipabiy inconSiiaTai"
or based ON such miHronc"ption that
they could not with safety he followed.
This iruSic-n have derived the beat aid
from policy holders In eases wE-'-
their representations hnS" been mad.
through association Of the insured.
regularly organized. and thus enabled
To aft and reduce to .RrnAibi. eonr.n.
tfation III" multiplicity aud roniraEt-ty
and tho frequently INSTRUCTED trend
Of local sentiment.
u am certain III. trustees for whom
! speak af- heartily In favor of such
naturalization ms will b" rial and sen.
iin- and nj the same tin. will compel
In the direction and management os
life insurance companica. such ability.
such attention and devotion tn duty
and honesty and ai-ttn"as In diRchaTe
ins ndueiaFy obligations aa well as
promoting Legitimate" srit'In'-fcai. ss
aro positively vital 'o the bcn"hciaTiss
at such organizations,
In common with all other d-siT"a.
the t~At conditions In this important
field of business. vhcf- the people
have 40 much nt stake. the trustees.
acting for III" policy holders "f IN,
Eluiiahl. society. ~iii gladly r-leom"
any aid in their work which may re.
sal, from tn" iabors Of S"uT commit.
t-v."