The Montgomery advertiser., 1905-04-07
EVERYTHINGA HARMONIOUS Official State nt Issued
 by ESltable. NATURALIZATION ADOPTED RumorS of designations Bore
 No Fruit. Entire Controversy Gone over, Use ef Printers Ink Condemned and the
 Aspect is Now One of
 Serenity.
NATURALIZATION ADOPTED

hs members of the Board of Directors Of | the Equitable Life Assurance Society, | thirty-eight assembled in the com pany's board room this afternoon and after an hour and thirty minutes dis l cussion, in the course of which 1t IS understood the whole Equitable contro- versy was gone over, announcement was made that those present unani- | mously had decided to adopt the two years naturalization plan announced several days ago.
 Rumors of resignations did not bear fruit and it was authoritatively said this evening that none was tendered. Everything harmonious" was the tenor of the official statement issued after the meeting by Senator Chaun- cey M. Depew and Cornelius N. Bliss. This announcement also said that a committee of directors would thorough ly investigate the company manage ment.
 President Alexander of the company and James H. Hyde were present and it is notable that many of the direc- tors came from a distance in order to attend the session.
 new feature in the Equitable mat ter is the resolution adopted for the appointment of committee of seven
 
 ly investigate Equitable affairs. The original plan for the naturalization of the company provided that it should be accomplished In four years, but after alst weeks session with the State Superintendent of Insurance this was amended to make the time two years. The two year plan was acquiesced In by Mir. Hyde. The plan begins to take effect ne t December. During the day meeting there were various rumors or a controversy between MT. Hyde and Mir. Alexander but so far as known nothing of this kind took place
 Alexander and Hyde Silent.
 President Alexander, MT. Hyde and John D. Crimmins declined to add any thing to the official statement this evening and said they had no comments to make on todays meeting
 The following statement was given out at the close of the meeting of the directors:
 "The board of directors after full discussion unanimously adopted the amended charter approved at the meet ing which the superintendent of in- surance attended. the amendment be- ing:
 'The board of directors shall con tinue to be divided into four classes of thirteen each. For the purpose of effecting more speedily the change from a board elected entirely by stock holders to a board elected partly by stockholders and partly by policyhold- CTS, 1t is hereby provided that the terms of off1ce of the directors here tofore elected for the terms ending December 31, 1905 and December 31, 1906. shall expire on the 31st of Decem- Der, 1905, and the successors to such H~a zYa ar-t Wednesday in the month of December 1905 and the terms of office of the directors heretofore elected for the terms expiring December S1, 1907 and December 31. 1908. shall expire on the 3lst day of December 1906 and the sue cessors to such directors shall be elect ed on the first Wednesday in the month of December. 1906. At such election the successors to the class of 1905 shall be elected to hold office for three years. the successors to the class of 1906 to hold office for four years, the success sors to the class of 1907 to hold office for four years and the successors to the class of 1908 to hold office for five years: thus producing four classes of directors of thirteen each. whose terms of office will expire respectively in the years 1908. 1909, 1910 and 1911. In the election of each of said classe, six of the vacancies shall be filled by plu- rality vote of the stockholders and seven of the vacancies shall be filled by a plurality vote of policy holders, both stockholders and policyholders voting by ballot in person or by proxy as hereafter provided
 Consulting Committee.
 "A resolution was unanimously adopt cd that A committee of three. consist al md Krech be appointed a committee of the board to consult with the Superin- tendent of Insurance after the amend ed charter shall have been approved by him, and with the policyholders' committee, of which John D. Crimmins is chairman. and to report to this board at an adjourned meeting upon the fol- lowing subjects. to wit:
 "First-The suggestion that the two existing vacancies in the Board of Directors shall be filled by persons whose names shall be proposed by the policyholders' committee.
 "Second-The suggestion that the two directors thus elected on the nom ination of the pOlicyholders' committee shall be made members of the EXecu- tive Committee of this Board.
 "Third-The suggestion that all va cancies occurring on the Board before the election of 1906 shall be filled by this board with nominees for two di- rectors so proposed to be elected on the nomination of the policyholders' this provision, however. not to apply to vacancies in the list of di- rectors elected in 1905.
 "Fourth-The suggestion that two more members of the Executive Com mittee shall be appointed on the nom- nation of MT. Cornelius N. Bliss. the committez including the four member, thus provided for to remain at its pres ent number of twelve.
 ''Fifth-The suggestion that four be created in the Executive by resignation or by the board, on the designation of the Super intendent of Insurance, in order to make way for the proposed new mem bers.
 "Resolved, That a committee of sev- en. consisting of Messrs Bliss. Mills, Prick, Hartman, Ives, Hill and Ingalls, be appointed charged with the duty of investigating and reporting upon the present management of lhe