New-York tribune., 1911-04-21

resolution for naturalization had been
adopted the question OF the presidency
came up Mr. Day was nominated by
Thomas Spratt and IT once Eugenius H
Outerbridge took the floor TO read the
letter from the trustees arguing against
the election Of a president for the soci-
ETY. before naturalization had been ac-
ccmplishcd
The letter was written at the first OF
the week when the trustees learned
that It was planned to elect Mr. Day
yesterday. as was told In The Tribune
OF Wednesday. They said that mutual
ization was almost an accomplished
fact and that It would be unfair to the
policyholders to saddle them with pres
ident not Of their own choosing. who
would be intrenched In an imprcgnable
POSITION through his control Of the COM
plicated machinery Of election in so vast
an organization
The argument following the reading Of
the letter was swift and acrimonious
Gage E. Tarbell a vice. president OF the
society in the old days; Charles E. Little
field and E. H. Outerbridge all support
ed the position taker by the trustees.
while the friends Of Mr. Day referred
frequently to the articles In The Tribune
telling OF the plan for snap election.
There were many biting references to
]. P. Morgan.
At 2:15 o'clock Mr. Day left the board
room and went to his own office, while
the voting began. Five minutes later
amid a storm of cheers Thomas Spratt
and William E. Paine issued from the
board room. as a committee to notify
Mr.. Day of his election.
Mr.. Day has been elected president"
said Mr.. Spratt TO those waiting in the
hall. There was no opposing candidate,
and there were only three votes against
him. He was not opposed personally, but
the argument was against electing any
president at this time. We will take up
naturalization again now and push the
work. Superintendent Hotchkiss made
speech for naturalization. and against the
election of a president now The letter
from the trustees opposing the election
was also read
One Of the directors said that the salary
Of the president had been reduced from
$4,000 year TO $4,000 several weeks
ago, No action was taken yesterday to
fill the Office Of first vice president, which
has also been vacant since the death Of
Paul Morton, Mr.. Day having been desig-
mated acting president at that time Late
IN the afternoon the company gave out
n statement in which no reference was
made to the speech OF Mr.. Hotchkiss or
the letter from the trustees. The state-
ment follows:
At their meeting to-day the board OF d.
rectors, after careful consideration. decided
that IL was against the interests OF the
pc licyholders that the position of president
should longer remain vacant. They ac-
cordngly proceeded 70 an election. with the
result that Vice-President William A Day
was unanimously elected 10 the office.
The directors also voted 10 continue the
special committee on naturalization, ap-
pointed pursuant TO a resolution adopted
at the January meeting, consisting OF
Messrs. Spratt. Wetherbee. Herman. Mather
and Joy Morton. and also unanimously
ject Of naturalization:
Resolved, That II IS the sense Of this
boari that naturalization as suggested by
Superintendent OF Insurance Hotchkss in
his letter Of January IS TO Mr.. Morgan is
desirable. viz, in a manner that will avoid