The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-04-09
.YREE IS OUT Of
THE CONTINENTAL
Thomas r. Cutler Succeeds Him
as President of the Com
pany.
BOARD OF DIRECTORS
HOLDS SECRET SESSION
W. S. Mccormick Was Slated for
the Presidency, But He
Declined.

At meeting of the directors OF the
Continental Life Insurance and Invest
mcnt company Saturday. lasting through
three sessions. morning, afternoon and
evening, Hiram Tyrec on Saturday
night removed from the Office OF prcsi-
dent OF the company and Thomas Il. cut
Ter elevated 20 the position thus made va
cant.
This action was the result of a long
period of internal strife and biclering
which had produced in the directorate q
condition which Is said TO have threat
ened its disruption and TO have seriously
menaccd the very existence OF the corpo-
ration.
Many Were Dissatisfied.
Stockholders and policy-holderS alike
II is declared. had reached n stage or
the affairs of the big company were be-
ing directed that brookcd no further show
OF Indifference on the part OF the men
who controlled Its destineS.
Though absolute secrecy has marked ali
the proceedings OF the directorate, max
ing fl next TO impossible TO obtain intor-
nation of their doings at first hand, there
can be no doubt that the action taken on
Saturday had been long and carefully
planned and that II meets with the APP
proval OF the stockholders throughout the
country.
They Were Determined.
L ne UNUSUAL interest lak6n III SdiuT-
days meeting, as evidenced by the at
tendance OF members of the board who
had 20 travel, many OF them, many hun
drcds OF miles to be present. speaks vol
umes for the stern determination which
stood back OF their plan for a change in
the personnel OF their management.
Further than that, the absolute unanimi-
ty with which the votes OF the directors
were cast on all questions arising at Sat
urdays meeting shows beyond a doubt
that the whole proceeding was cut and
fbn Of nPf
ors from distance who participated In
the deliberations which resulted In Presi-
dent Tyree's removal-or. as they would
put IL, In his resignation
Members From a Distance.
&. T. Gmlcuddy. second vice-president
dent, Gallatin State bank, Bozeman
Mont. James Reid, ex-president Montana
AGRICULTURAL college. Montreal Canada;
A. l.. Stone, cashier State bank, Dillon,
Mont; Senator James P. Murray, Dillon.
Mont; G, {. Carpy, president French
American bank. San Francisco: Hon ]
Trust company. Los Angeles, Hon. A. l.
Babcock. president Yellowstone National
bank, Billings, Mont: Hon. Gavin Nc
tai company. San Francisco w w wv
lie. president Wylie Transportation com
2any, Bozeman. Mont; George L. Ames,
San Francisco.
Withhold Specific Instances.
For reasons indicated above. 1t is, OF
course, Impossible to secure from the In
side any specific instance OF m!sman-
agement on the part OF the recently de-
posed president, One OF the directors even
went so far as 10 say II was ridiculous to
suppose that the board had forced Tyree
out of office, declaring that the body had
no power to take such action, that being
committee. The nimsy character of this
declaration is plainly apparent when II
is recalled that the executive committee
OF the board is made up Of members OF
All in Good Order.
But the thing was done in good order
and In manner to leave the least pos
not, MIR. Tyree wrote out his resignation
and 1t was unanimously accepted
One Slip in Arrangements
IT Is understood that there was one slip
snert,oI az .ne programme s I'M and that was in the
,. Mccormick was the slated candidate
Tor the position, but he pleaded that his
banking business made, such heavy de-
mands upon his time that he could not
undertake the additional duties Ii was
tnen that Cutler /entered the fight and
as there WAS practically no opposition, he
1t was originally programmed to elect
manager for the company but that
matter was left to be attended to by the
executive committee.
NoinultCee ChoSen,
siad. AT last nights session of the board of
directors the following executive commit
tee was elected. W. s. Mccormick. chair
man; Gov, Gooding. Idaho; r. D. steele
1onn Dern, w w. Wylie, Frank Pierce
Salt Lake N''
Kind Words for Tyree.
After the adjournment OF the nioht On.
SION of the board Gavin McNabb. gen
eral counsel for the Continental COMPANY
on the Paeihc coast. stated that ne had
appeared before the board as the rem
Tesentative at large for Western interests
which insisted on a new plan OF ornani
nation. and that he would like 10 have
the public understand that the retiring
president, Mr. Tyree. had dong everye
for such reorganization. LAS a matter nf
fact" said Mr.. McNabb. "Tyree has for
some time stood ready to resign his OF
fce whenever an intelligent plan OF re-
organization should be presented bur
Would not give up his Office to the people
opposed 10 him. whom he designated as
stone throwers.'