New-York tribune., 1905-06-08


the director members, it was sAiu ,.....-a.ad
Tho three vice-presidents viii be ehliiiila'ee
from, the new committee, and the
Tho Eauitable Trust Company the -iei
rr.. t-o,nnanv and the National Bank Oh I'm
,,o.oo .lso The committee. too, will be sholh u
many of its powers, especially as 10 tile Pun
:. .;+ias under the new arrangement.
The meeting, considering the nuiilpei u 10.
nations was a large one Incidentally, II
the most business-like asseHp"e
held in the last four months
nh, r,aa.ipe convened promptly at =. III
,r,,aro ,vero nresent J. W. Alexander LOUIS hi'N-
Gerald Chauncey NJ Depew, ii. = peiiiiis'
coorga IT Squire. Thomas D. Jordan ChaIie'
G Cro,tb Y p Snyder. Alvin W. heech' "ii'
;am Alexander John j. McCooh' y Ieu
-: proy+op Ives James H. Hyde, Gage ~
1,arneu G. 3. Alexander, NJ Hartley Doose' o.
4. Navarro. Bradfsh Johnson, Ahreo "
5arbiI+ August Belmont, H H. "Ln'N' w.
Cnyaa Gould. George T. Wilson, Thomas l.
T-cl,art William H. Mcintyre, H M AleAaiio0''
I,o,id II Noffat and Joseph I. Low.
- =. - +ha designations from the nominal
,os committee it voted TO have new cum
-. Two resolutions were introduced Tor
roorgantzation of the executive committee one
-, NJ IJvde and one by Charles Stewart Siii'h'
Mr Hvde argued that the present custom WHICH
made tbe executive committee the working pooS
80 tho hoard. left it saddled with too much re-
-o.ih,i+v Mr. Smith said that the committee
WAS too big and had on it too many oihcefs VI
the EQUITABLE and its subsidiary concerns VINO
were practically officers of the society Ihelr
roeo1,,ttons were merged and passed the board
without dissent
Charles Stewart Smith introduced a resolution
calling for the reductions of the salaries OF the
officers The Tribune announced exclusively
some time ago that such resolution would be
nresented He said that when the facuonal
fight first broke out he surprised to learn
how much paid to some of the officers Al
though he attended meetings regularly he could
not remember that the board ever had passed
on the figures. He felt that this too much
of drain on the society. and the officers were
getting more than men of similar prominence
and ability in other corporations received
Motions were adopted TO amend the bylaws
to provide that the executive committee be en-
powered to perform all the duties now assigned
to the executive and finance committees; that
the board meet hereafter once month to pass
upon the acts of the executive committee, and
that no real estate be purchased without the
authorization of the board.
Resolutions offered by Mr.. Hyde were adopted
directing the executive committee, after its re-
organization. to fix the salaries of the presl-
dent and vice-president and to pass upon the
advances to agents. resolution was adopted
that in future no securities of any sort should
be purchased or sold except upon order of the
executive committee Mr. Low made a motion
that the societys balances in banks and trust
companies be reduced and maintained hereafter
at normal amounts Mr.. Krech moved to amend
by referring to the new executive committee.
and the motion as amended then carried.
In the vote on motions upon which there was
IN A
and Vice President Hyde were as a rule H q.
Deming Colonel John ]. McCook, George j.
Gould. August Belmont, Senator Depew. Alfred
G. Vanderbilt, Valentine Snyder, D. H. Moffat,
Bradish Johnson, Alvin W. Krech, George II.
Squire, George T. Wilson and William H. Nc
Intyre.
Gage E. Tarbell made a speech, in which he
declared, and verified his statements by extracts
from the books OF the company, that the busi-
ness had increased, despite the scandal. In the
five months to June l, he said, the money re-
ceived by the society and the gross amounts OF
the policies exceeded those for the same period
of last year. Reports as to the designations of
agents he said were exaggerated. There were
no more designations from the agency stairs
than usual he said.
THE OFFICIAL RESOLUTION.
After the meeting the following official state
nnent given out:
To fill the vacancies in the nominating comnlittet %
the board appointed Messrs. Depew, Mofat anC
Fitzgerald, who, with Mr.. Belmont and Mr.. For
gan, now constitute the committee. .
resolution was passed requesting this conlnlIl
board to the board Of directors at an adjourned
meeting TO be held at o'clock Friday next, ant
failed to make such nomination. nominations woul'
be invited from members of the board at ina
a further resolution was passed for the reorgani
cation of the executive committee. with the pTesl
ylCe-DreS1dent
members and four directors who are not ofhcers-
the executive 6icers s6onid be reduced to CORE
and trust corporations, the amounts to be mere
further resolution was passed to reduce tn
| general expenses of the society.
It was also resolved that no advances TO agent
out the approval of the executive committee; alst
mttee @ e be made subect to the approval Of tn
board. and that the amounts of deposits uniforml!
reduced to working balances. and the residue in
| The board then adjourned to meet Friday mex
| to elect chairman OF the board.
REPORTED HYDE STOCK OFFER
According to a story in insurance circles
! offers have been made to Mr.. Hyde for hi
stock control by Haley Fiske. vice-president o
| the Metropolitan Life. who was said to be rep
resenting John A Mccall and George W. Per
| kins of the New-York Life Mr. Fiske wa
mentioned yesterday a likely candidate 70
chairman of the Equitable board. Insuranc
men did not think it was likely that he woul
acquire the Hyde stock. No offer, however fine
! from Morgan sources would be considered, the
| thought
Mr. Hyde denied that he intended to sell hi
stock to ANYBODY He denied specifically tha
| he would sell the stock TO a Gould syndica te
| George J. Gould also denied that he trying
| to purchase the stock Governor Herrick, a
! Columbus said that he had not bought tn
! Hyde stock. but did not say that he hadn'
| tried He would not become chairman of tn
| board he said. because of his political connec
tionS in Ohio