The New York herald., 1922-08-15
DRYDEN, INSURANCE
PRESIDENT, RESIGNS
Will Be Succeeded as Head OF
Prudential Sept. | by Z. D.
Duffield.

| Forrest r. Dryden, president OF the
| Prudential Insurance Company OF Amer
| ica offered his resignation yesterday az
q meeting Of the board directors in
! Newark. Edward D. Duffield. who has
been acting president for the last six
| months. was chosen as his successor.
| Mr.. Dryden's resignation will become ef-
fective September /.
| Ill health forced the retirement OF Mr..
| Dryden. Two years ago he underwent
an operation for mastoiditis and ne
never has fully recovered His illness.
business associates said, was aggravated
by the ordeal incident to his testfying
before the Lockwood legislative COM
mittee in connection with it's housing in
vestigation several months ago.
Early in the year he decided that
complete rest was necessary for the
restoration of physical vigor and he OBJ
tanned a six months leave of absence
as head of the Prudential. his place be-
ing filled temporarily by Mr.. Dufiield.
He first went to the West Indies, spend
ing some time in Bermuda, and fromi
there went to Boston. He is now stay
ing at mountain resort in New Eng
land, but, as he stated in offering his
resignation. his health has not been suf-
fcently restored to warrant his taking
up again the duties Of the president ofl
the company.
Rumors of Mr.. Dryden's resignation
have been circulating in the financial
world for many months, and the action
of the board Of directors caused no sur
prise. 1t has been said Mr.. Dryden par
ticularly disliked the personal publicity
to which he was exposed when called
upon to testify before the Lockwood
committee, and the exhaustive investiga-
ton which was made of the Prudentials s
Nc-t Al. .
Iutions, passed by the board of directors,
assaiiing Samuel Untermyer's method of
examination.
The resolution, which was passed in
June OF last year, stated "the examina-
ton Of DR.. Dryden went far beyond that
permitted by the Legislature, and made
1t quite clear that the Prudential has
nothing to expect from the committee ex-
cept Misrepresentation. and that it's only
safety lay upon standing upon its legal
rights
Mr.. Dryden's appearance on the stand
provided the Lockwood committee with
a number OF stormy sessions, during
which the Prudential president was sew
eral times declared in contempt Of the
committee and threatened by Mr.. Inter
myer with Grand Jury action. A large
measure Of the Lockwood committees In
vestigation dealt with the socalled mu-
tualization of the company.
Mr. Dryden is the son of the late
United States Senator John f. Dryden
founder Of the Prudential He had
worked himself up through thu or
ganization. starting as a clerk when a
young man and becoming president in
1912. following the death OF his father
Mr.. Duffield will be the Prudential's
third president. He is a Princeton man.
having been born in the university town
on March 3, 1871, son of John 7. Duff
field, who was professor of mathema-
tics at Princeton for more than half a
century.
After graduating from Princeton and
studying for two years at the New York
Law School, Mr.. Duffield was admitted
to the bar in New Jersey and practiced
for a time In Newark. He was elected
to the State Assembly. and in 1906 was
elected Assistant Attorney General of the
State. His home is at Orange.