Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-11
PAUL MORTON N'SPLANS
Newly Elected Chairman of
the Equitable Life.
GIVES HIS WATCHWORD
TO WORK FOR BEST INTERESTS OF
TO WORK FOR BEST INTERESTS OF
PoLICYHoLDERs.
Grover Cleveland, George Westing'
house and Justice O'Brien Named
as New Trustees.


of Paul Morton, Secretary of the Navy, as
head of the Eauita BILE Life Assurance So
ciety, was auspiciously attended today by
the nrompt acceptances, as members of the
new board of trustees of the Hyde estate
stock. of former President Grover Cleveland
and George Westinghouse, Justice Morgan
7 O'Brien. the third member of the board.
having already accepted. Mr.. Morton also
received assurances of full approval OF his
selection as chairman of the board Oh olrec-
tors from August Belmont and Braytoh
Ives the latter of whom, after reslgnlhs
from the board, wrote to Mr. Morton 10
explain his action and tender the assur-
ance of his best wishes for his success.
The new chairman spent the greater part
of the day in conferences with fresiuSl'
Alexander and other officials or she societs.
He will not enter on the active discharge or
his new duties until after his resignation
as Secretary of the Navy on July l.
NEW YORK, June 10.-Paui Morton 'iie
newly elected chairman or the poaiu %
directors of the Equitable Life Assurance
Society. said today that in MS piahs ioi
the REORGANIZATION of the society he lntehos
to consider first of all the interests OF the
polcyholders. $500,
Won can say for me-" said Mr.. Morton
that my watchword In my cohhectio"
with the Equitable Life Assurance society
will be for the best Interests OF the poLcy-
holders l do not propose TO reject III any
way on the former management; l Sliap,s lli,.s
take matters as l find them, and shaH give
all my efforts to carry on the society III the
proper way. The interests oil the poncy
holders are the greatest interests ana II
would seem to me that no polcy leaving
this fact out of consideration can sue
ceed.'
Mr Morton was then asked whether Mr..
Cleveland had agreed to act as trustee;
Il really don't know as to that, said lie.
In fact, / don't believe any one knows
what decision Mr.. Cleveland has reached
| hope he will accept"
Continuing, Mr.. Morton said
Il fully appreciate the honor that has
been done me by the directors of the Equit-
able in selecting me TO act as their chair
man. l can only say that i shall do every
thlng IN my power TO administer the affairs
of the society in such way as to desrve
the fullest confidence of the policyholders
and public generally
Mr.. Morton expects to leave for Wash
inSton tonight.
New Trustees.
George Westinghouse announced today
that he had accepted the trusteeship of
Equitable stock offered him by Thomas f.
Ryan.
Justice Morgan ]. O'Brien also has agreed
to act as trustee.
Mr.. Morton spent a part of the dav in
conference with President James w. Alex
ander and Vice Presidents HYDE Wilson
and Tarbell in President Alexander's Office
MT; Morton said afterward that he had
called meeting of the executive commit
tee of the society for Wednesday. IT was
yet too early, Mr.. Morton said. for him to
define his policy in the Equitable Society
and he would not be able actively to take
up his new work until relieved of his offi-
cial duties at Washington.
1t is probable that some Of the former
directors who recently withdrew will be
asked asked to reconsider their designations
These will include Cornelius N Bliss. Rob
ert L. Lincoln and Z. Jefferson Coolidge
as well as number of New York mon
whose designations have been accepted by
the board.
Brayton Ives today resigned as director
OF the Equitable Society
Cleveland Elected a Trustee.
PRINCETON, N. J.. June 1O-Forrr.,.
President Cleveland said today that he had
received official notification of his selection
as one OF three trustees Of the Equitable
Life Assurance Society, and that he thougbt
1t his duty to accept the position.
NEW YORK. June 1O.-On receipt Of for-
mer President Cleveland's acceptance or
the trusteeship of the Equitable stock n,r.
chased from Mr.. Hyde. Thomas F. RYAN
sent the following reply:
Hon. Grover Cleveland Princeton NJ r.
fray accept my hearty thanks for your
acceptance of the trusteeship OF the stock
or the reorganized Equitable Life Assur-
ance Society and for your effective CO.
operation In the important work to be done
by shareholders, trustees and directors I'm
protecting and promoting the interests of
the poiicyholders and all concerned in lie
insurance.
(SigL ed) THOMAS f. RYAN,
Cleveland's Expression.
Mr.. Cleveland, In discussing the EquIta-
BILE matters. said:
II deem it my duty to do what little lies
In my power to bring about improved con-
ditions in the affairs of this company.
This has grown beyond the Equitable as
company. Life insurance is a. national
affair in which the interests of great num-
bers of our people are involved. There.
fore, in this case, feel that public duly
lies upon me.
THE other gentlemen who have been
named as trustees of the stock have the
confidence of the people, They are most