The San Francisco call., 1905-06-07
Governor of Ohio to Take
Place at Salary of One
Hundred and Fifty Thou
sand Dollars Per Year
THREE MORE LEAVE
THE DIRECTORATE
Cassatt, Stewart and Sloane
Resign and D. O. Mills Will
Desert the Board To-Day,
Making the Tenth to Go
Special Dispatch to Tho call

NEW YORK. June e-Myron T Her
rick, Governor Of Ohio, probably viii be
selected as chairman Of the Equitable
Life Assurance Society board. After con-
sultation with persons representing James
Hszen Hyde. Governor Herrick left the
Waldorf Astoria at 6 o'clock for his home
IN Cleveland. He had assured his visi-
tors that he was willing TO take hold Of
the Equitable at q salary Of $4,000 a
year. providing he was given absolute
freedom IN his control Of the society,
and il was added that he was assured
he would be unhampered in his manage
ment.
II was said tonight that Governor
Herrfck as the representative Of a syn
dicate, had made a liberal cash offer for
Eyde's stock holdings. so that If a trans
fer were made. the control Of the society
would not only be vested in Governor
Herrick as chairman OF the board with
plenary powers, but, in fact, he would be
in absolute control
The price offered was said to be in
the neIghborhood Of 5000 900. or about
SI.093 600 more than Hyde was offered for
his control Of the Equitable two years
ago. when a syndicate OF Wall street
men tried TO buy out his interests Hyde,
5r IS said declined Herrick's offer. but
Al the same tine offered TO Herrick the
newly created Office Of the chairmanship
Of The board. which the Governor Of ONO
expresses his willingness TO accept
There was q conference at which Hyde
was present with his legal adviser, sam
ueI l-ntermyer. There was full and
free discussion Of the selection Of a suit
able man for the position Of chairman
of the board and the selection of Cow
ern0r Herrick proved acceptable to all
who were in attendance. Herrick is best
known ia the business world as a banker
He is president of the Society Savings
Bank Of cleveland. an institution of IL
900 depositors, S4,o90.000 in deposits and
s-eOW.a9a in assets Herrick began mis-
business career as q peddler OF dinner
bells - larme rs
MORE. DIRECTORS RESIGN.
Three more directors resigned to-day
from the board OF the Equitable and at
least one more viii retire tomorrow,
making in ali ten designations since the
present troubles Of the society began.
The resignation Of A J. Cassatt, presi-
deut Of the Pennsylvania Railroad Com
pany. was followed this afternoon by the
announcement Of the designations Of John
A Stewart chairman Of the board of di-
rectors of the United States Trust Com
pany, and John Sloane, prominent in
banking and trust company circles The
resignation Of d. 0. Mills viii be handed
70 President Alexander Io-zaOrrow. Mills
was at first inclined TO postpone action,
but decided not 10 attend the meeting
The other directors who have resigned
from the Equitable board are H. C. Frick,
i. II. Hartman, T Jefferson Coolidge,
n Z. ingalls,, Jacob H. Schin and Cor
nelius \ Bliss.
Hyde ave out the following statement
to-day:
y have been greatly pained by the as
sertion in one Of the morning papers that
I had said Of the gentlemen who have
seen 1T 10 resign from the Equitable
board that Il was freeing ourselves of
driftwood. In the light of existing con-
ditions, these untruthful interviews with
me are calculated. TO do me serious harm
As 70 the gentlemen referred to. no one
can question their right to withdraw
from the Equitable board. and while
greatly regret their point Of view did not
coincide with mine. 1 do not think the
good Of the large interests at stake are
TO be served by recrimination."
Alvin ". Krech, president Of the Equit-
able Trust Company, was before Super
intendent Hendricks to-day. as also was
H R Winthrop. financial manager Of the
EQUITABLE Society. Winthrops examina-
ton was very brief.
BIG MEETING FOR TO-DAY.
It is understood that Hyde intends
10 resign from the Union Pacific and
oregon Railroad and Navigation Com
pany boards Of directors. These are
Hartman properties.
Among the stories which gained cir
culation to-day was one to the effect
that Henry c. Frick has been offered
a post on the board of directors of the
New York Life Insurance Company,
that many Of the directors Of that COM
pany have asked him 10 join the board
and that ne is seriously considering the
offer.
The call for to-morrow's meeting Of
the Equitable directors gives notice
that Immediately after the adjourn
ment Of the regular meeting a special
meeting will be held for the follow
ing purposes: First, Of amending the
bylaws so a. 70 provide Tor the Office
Of chairman Of the board of directors
and prescribing the powers and duties
OF the Office and passing upon such
other amendments TO the bylaws as
may be submitted TO the meeting: sec
ond. for the election of a chairman OF
the board 70 fiji the Office thus created;
third, for the election of the chairman
rs G director Of the society.