The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-04-07
PEACE THE RESULT
Meeting of the Directors
of the Equitable.
The Two Years naturalization Plan 10
Be Adopted. No designations 10
Be rendered. A Harmonius
Meefinu.
Meeting.
(By the Associated Press.) }


New York, April 6.-Out of the df-
| ty members of the board of directors
of the Equitable Life Assurance So
ciety, thirty-eight assembled in the
company's board room this afternoon,
and after an hour and thirty minutes
of discussion. in the course of which
it is understood the whole Equitable
controversy was gone over, announce
ment was made that those present
unanimously had decided to adopt the
two years naturalization plan announc-
ed several days ago.
Rumors of designations do not bear
fruit and it was authoritatiVely said
this evening that none was rendered.
Everything harmonious" was the
tenor of the official statement issued
after the meeting by Senator ChaunceY
NJ. Depew and Cornelius Bliss. This
announcement also said that a COM
mittee of directors would thoroughly
investigate the company management.
President Alexander of the company
and James II. Hyde were present, and
it is notable that many of the directors
came from distance in order to at
tend the session.
The plan for naturalization as de-
Scribed in the official statement brief
ly provides that the terms of directors
expiring December 81, 1905, and De-
cember 81, 1908, shall leXpire on the
last day of December this year, their
successors to be elected the first We'd
nesday in December 1905; the terms
expiring on the last day of December.
1907 and 1908, shall terminate Decem-
Der 81, 1906 and their successors shall
be elected the first Wednesday in De-
cember, 1906. There will be four
classes of directors-those elected sue
cessors in the so-called 1906 class to
serve three years, those in the 1905
class to hold office four years, those
to the 1907 class to serve four years,
and to the 1908 class to hold office five
years. There will be thirteen directors
in each class, six to be filled by stock
holders and seven by policy-holderS.
There will be conferences with the
State superintendent of Insurance
and with the policy holders COMMITTEES
by committee headed by Senator
Depew relative to filing the two eX-
listing vacancies in the directorate by
the policy holders, these two men to
be members of the executive commit
tee. These conferences also will take
up the appointment of two more menu
bers of the executive committee by c..
n. Bliss. The conference will follow
cut the plan previously suggested as
to the designations of four of the pres
ent active committee to make room for
the new members.
A new feature In the Equitable mat
ter is the resolution adopted for the
appointment of a committee of seven,
headed by e. H. Hartman, to thor
oughly investigate Equitable affairs
During the days meeting there were
various rumors of a controversy be,
tween Mr.. Hyde and Mr.. Alexander,
bat so far as known nothing of this
kind took place.
The statement issued says speeches
We're made by James J. Hill, M. f..
ingalls, and others insisting upon IL
cessation of the entire controversy
and of the use of the press, which is
SO injurious to the company" and do
ing great injury to all life insurance
companies.