New-York tribune., 1907-10-31
WILL CONFER TO-DAY.
THOM4SES PROPOSAL.
Future Of Propident Life De
termined BIZ Meeting.

Upon the result of a conference this morning
in the law Offices Of John j. O'Brien between
counsel for o. F. and Z. r. Thomas and Phila-
delpha syndicate the future of the Provident
Savings Life Assurance Company will to a large
extent depend.
The deal by which the syndicate to get
control Of the company has hung fire because Of
the failure of the Thomases to deliver to it
either the stock or the bonds. Mr.. O'Brien
said yesterday that at a conference which
held in his Office during the afternoon
and which was attended by the same per
sons who will be at the one to-day, Edward
Lauterhach, for the Thomases. submitted a
proposition that they would deliver to the syn
dicate each month stock to the value of $4,000,
or the equivalent of the monthly payment that
the syndicate makes to them, until the whole
S1,140,O00 was paid That plan, while not in
accord with the original agreement" he said
would be satisfactory to if the ThOmases
will furnish ample security for carrying out
their part of it, To-morrows meeting will de-
eide whether or not the sale eventually goes
through under that arrangement"
Under the terms of the sale the syndicate
agreed to pay $1,140OOO to the Thomases for
their stock in the company and for S100e,oO0 in
bonds of the Western Ice Company. One hum
dred thousand dollars was to be paid over
soon as certain other conditions were fulfilled
and the balance in monthly instalments of
$4,000 Also as soon as the 100000 paid
the Thomases were to hand over the stock and
bonds and the syndicate to return the stock
as security for the payment of the balance.
No stock or bonds, however have been turned
oy'r, the Thomases saying that the stock was
hing held as security for loans made to them
NJ that they could not obtain IT at once. Mr..
a4uterhach Claims that it stands his clients
have fulfilled their part of the bargain
1t is understood the syndicate believes that
the Thonasos are trying to get possession Of
tho tie. but lave so far been unable to do so,
It 3 or this reosnr. it is SID, mat action was
nc, taken 3y th..l sooner.
= AT tod VS. ueetng the Tkomases are un-
able TO fura,-a s tisfactory security for carry
ing oat their second proposition" il seems
probable that John j. Coyle. of Philadelphia.
will institute legal action to annul the sale and
at the same time regain the synGicate's SlOO,oop.
Timothy L. Woodruff. who vas until recent
ly president of the company. said he had sold
his interest to the Thomases and had nothing
further TO do with it except a large policy
holder. Il take a great deal of interest in its
affairs" he said, because Of my relation 70 IT as
its former president but aside from that l
have nothing to do with it."
Neither OF the Thomases had anything 70 say
about the situation yesterday. and Mr. Lauter-
bach merely repeated what he had said the day
before. Mr.. Coyle, who registered at the
Waldorf so@tsrday, left there late In ,he efter
noon but is expected TO be at the meeting
day.
The officials of the company now are George
]. Elliott president; John J. Coyle vice-prcs-
dent, and Charles J. Brunn, counsel