New-York tribune., 1905-06-29
NINE NEW DIRECTORS.
Continued from first page
,,,ct There is not likely to be another meeting
of the trustees for fortnight.
APPEAL TO PoLIC1HoLDERS

Of the trustees Tor a fortnight
APPEAL TO PoLICYHoLDERs
The appeal to policyholders follows:
TO rho po,,cvbolders of the Equitable Life Assur-
snnnIsrnentary 10 the notice addressed by US to
Won on the 18th OF the present month, inviting an
ynressien of your preferences and asking your aid
o n9t be- Shs selected @ @ from Your number at the ANNUAL
meeting in Deeem6er put aso IN our eaTner ar oc rec
holders to fiji vacancies, we now inform you that
Tom Your body TO I'LL portion Of these vacancies
The reinforcement of the board without delay
tons ara for the proper transaction Of the societys
fed In the near future. OF course. il has thus far
Teetiy than through the press with major
ty Of the eSo poleyhod;ers Of . the SOCIETY or to
the matter of filing these vacancies; but We hope
that they can thus cooperate with as quickly
and TO all the interests involved. In any event it
shall be our enort TO aFai ontseiVes OF an tne ne
secure for directors from among policyholders
views Of mana cement and who viii regard dis
tnctiy violative OF duty the use Of the funds Of
nor. underwriting or syndcating Of and un-
certain enterprises the investment Of such funds
in SPECULATIVE stocks and securities.
The published reports OF those who have inyest-
gssfe9ndinE revelations they bring 70 light have
impressed US with the grave responsibility resting
i1non us to prevent, far as ii is in our power,
a renetition of a scandalous and tragic chapter
IN the history OF great life insurance company
-oe lessons TO be learned from the exposures made
l.. these reports that men who are more con-
cerred in making money for themselves than in
dschargtng a sacred trust should not have controi
vestment of life insurance funds SAFETY rather
than large profits should be the rule
The obligations that rest on the lrHstes~
Of savings banks rest the directors OF IRE IN
Suro nee cornpanieS-beceuse more than one sense
life Insurance company is a savings bank Inc
same conservative management the same economy a.y
IN expenditure and the same care as 10 iilVeSt
Toents are necessary in the one case as N Lie
o-ya- The history OF savings banks IN the State
~ %ez-York is most creditable; and we pehste
thfs IS due not alone to the able, honest anu us
tL-oo-es+e5 n,en who have managed them, but also
TO the laws which have llInitea the enai ae'et =" W
SScT-ities in which they could invest -, a. =
we feel like saying TO you that
- af7ictions Of the Equitable Society, It's re-
sn,,rces assets and surplus are too sTeai. any
-eForrns in its management are TOO promising, 70
s,nft of doubt or misgiVlng on your paIL cohcei4i
f,1rns the short period that Will pTopaoiy eispsee
sfore an the existing vacancies IN tne poaAu %
gt-sctors will be filed, and the longer time that
siar,sa before the annual election OF directors
~ ~ ~TocanTher when our voting power as trustees
- ma ioritv of the society stock can pc eAeL
sS-+ sid uninfiuenced by insioious ana 80
,-4ranCes. and return we pedge ouI
60 far as il is given to US to see our "a. Ine
S,,r+ oF our trust shall be actuated soieIs ~
SoSt-. n secure and conserve your INTERESTS au
9-on,o+e the safety and success OF the Ereat IN. ne
Insurance organization OF which you anu FoUi i
i'eS az ~ GROVER CLF1V EIEAND
MORGAN J. O'BRIEN.
CEORGE WESTINGHOUSE