Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-04-09
TYREE IS OUT OF
CONTINENTAL.
rendered His Resignation as
President Of the Com
pany.
THOMAS R. CUTLER CHOSEN.
Former Presiding Officer Remains One
OF the DIrcctors--ltesoIution of
Endorsement Adopted.

At Saturday afternoon meeting OF
the directors OF the Continental Life
Insurance & Investment company, HI
ram Tyree resigned the presidency Of
the company. and Thomas II, Cutler,
brother of the governor. was chosen In
his stead. Mr.. Tyree remains a direc-
tor in the company and the board
adopted these resolutions enclosing
him, after accepting his resignation
"In view Of the circumstances which
have moved the president of this COM
pany. Hiram Tyree, voluntarily to ten
der his resignation; be IT,
Resolved, That the directors Of the
Continental Life Insurance g. Invest
ment company hereby express their
confidence In the integrity and ability
of President Tyree and that it is with
deep regret that this board accepts his
resignation as president and general
manager Of the company We believe
that his efficiency in organizing aud
building up this institution has rarely
been eNceled II ever equnled,"
As to the charges of falsifylng, the
annual report of the company to ,he
secretary of state, the board passed the
following resolutions!
EXoNERATEs TYREE,
Resolved, That the board Of directors
hereby exonerates former President
Tyree and Secy. Wylle from all inten-
tlonal wrong IN the preparation and nj
fna Of q l.. Of
IN January, 1905, which is claimed TO be
inaccurate and upon which criminal
charges were preferred against them
The directors voted also that all %
the Compauys business should be cOu-
Quoted from the Salt Lake Office, which
rather cuts into the expectations OF the
San Francisco contingent.
The following letter Is TO DE sent 10
policyholders and stockholders Of tie
company informing them of the ac-
ton Of the directors:
INFORMATION Sent OUT.
ITO the Policyholders and Stockhod-
ers Of the Continental Life lnsur-
ance & Investment Company.
"Gentlemen--Pur to the call
heretofore issued. a meeting Of the
board OF directors Of the Continental
llIe INSURANCE ~ investment N'lilIdHN
was held IN Salt Lake city on this day,
THE affairs Of the company were
thoroughly discussed,
Hiram Tyree resigned as president
and general manager for the company.
His resignation was accepted. The en-
tire executive committee resigned,
Hon. Thomas II. Cutler was unari-
mousy and enthusiastically elected
president of the company. Mr. Cutler
H. n business man of very wide oXper-
fence, and promises TO give careful at
ten,ion 10 the business Of this cont
pany He is known all over the west.
He is the vice president and general
manager of the Utah Sugar company
and other associated companies, whicl
are among the largest Industrial asso-
Citations OF the west.
president Cutler will appoint q new
executive committee at once.
1T was the unanimous opinion If
the directors that the company's bust
ness be conducted from Salt Lake CITY,
the home office Of the company. there
by saving a large, apparently unnec-
essary outlay
1.-THE new management Is confident
that the income of the company VIII
be ample to develop splendid bust
ness aud insure excellent profits In the
future to the policyholders and stock
holders, and IL proposes TO keep its
polcyholders and stockholders fully ad-
vised at all tines
At n meeting of the directors Satur-
day evening the following executive
committee was elected w. ;. McCor-
nick, chairman; Gov. GoodlnE, Idaho;
X. D. Steele. John Dern, w. W. Wylie,
Frank Pierce, salt Lake.
Members of the directory state that
Mr.. Tyree has been willing all along to
resign whenever It could be shown That
an Intelligent plan Of reorganization
was presented. but he declined TO resign
I'm response merely to people who want
cd to throw stones nj him.
The now executive committee he'll
session yesterday, Ina preparation for
the resumption of regular administra-
tive work.
PRIEST CUTLER TALKS.
The newly elected president of the
Continental Life. Hon. Thos. II. Cutler,
said that he was not in a position at
the present time TO give any infor-
nation for publication, but that just rs
soon as the affairs Of the company We're
in shape he would give out state
ment. lie added that the new manage
ment intends to put the company 1n
its feet, 70 restore confidence IN its abil-
ity To carry out the provisions OF It's
policies. and further said that the Con-
tinental would soon he In the Held
again and after business.
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