Show RYAN SOLE OWNER OF HYDE STOCK Trustees Meet and an Elect EJect Cleveland President EQUITABLE TROUBLE VER POLICY HOLDERS WILL GET JUST DUES New York June l t Cleveland Justice Morgan J OBrien and George Westinghouse esti house of Pitts Pittsburg Pittsburg burg trustees or of the Equitable Life Lif e Assurance society stock formerly owned by J I S Hyde met today tody and executed a trust agreement With iUt Thomas F FRyan FRyan Ryan Th The trustees elected Mr Cleve Clee Cleeland Cleveland land president At the conclusion of oC the meet meeting th e trust at ment with a letter ItHer from coin Mr Ryan Ran to the trustees and an up ap i peal from the trust trustees to the policy I holders holde wu was made public Mr 11 Ryans s I letter Itter announces Ills his individual ship of the stock Ryan Is Sole Owner HI I am the sole owner of the 50 2 shares s of the stock which I purchased from Mr Hyde the letter Jetter SKy says and no other person perron or inter st has On eon I or Juts has the ri right ht to contribute e a single dollar toward the purchase ot o othe f the stock The amount which I paid for the th e shares of oC stock purchased from Mr 11 HYde is The appeal of the trust trustees to the th e policyholders will be mailed to the th tho e ee o oio holders holden of Equitable insurance Time The letter latter says sars Appeal of Trustees we uVe have a assumed the duties created create d by a trust agreement ment executed by Thomas F Ryan Ran whereby by a y I of tM the stock of the Equitable SO i t y has bas been placed in our hands as tent tru tEes for the purpose of voting on sueh suc h stock directors tors of said society uIt It is proVided in the that tha t WO we shall vote yote for seven out nut of th e te thirteen directors to be chosen an annually from the holders of policies an d that these shall he be designated by an a n dt expression of oC their th lr choice on the part par t of the body of aU all the policyholder s whose hose policies have hae been Deen in fore at a t I least one year ear The selection of the six remaining directors to be elected each h year is left to our discretion and judg judgment I ment as trustees This plan will rt re suit In finally giving iving to the policy holders the privilege of g of the persons person s who will constitute the board of di directors directors rectors Vote of Policy Holders HIt It is also provided by said instrument instrument ment of transfer that the said pulley policy holders shall express their wishes to us u uon s on this subject by sending to our ad address dress annually before the first day of o f November at the Ule office of the ble society lO Broadway New Y rk a written designation of the poliy holders they desire to have elected as a s dIrectors We uVe especially request aU all the policy holders entitled to exercise this privilege liege that they make their s known to us in time that the plan may speedily reach the l proportion of oC the entire board whiCh is i s contemplated Ye We have determined at an early date to recommend policy holders to be elected by the board to t o fill existing vacancies We Te therefore oe urge policyholders to notify us at once e of their preferences in regard to these thes e vacancies Given Full Control The agreement between behnen Mr Ryan Rya n and the trustees practically outlined outline d the authority orthe of the tru trustees tees in voting g the stock and gives theta them lull control contro l over oyer the SOt shares the they represent The agreement says This agreement shall continue in i n force five fhe years ears from the date thereof It shall be continued thereafter so s o long as the trustees shall deem advis adi advisable able and the party of the first part par t Thomas F Ryan hereby agrees that tha t upon the expiration of any period of o f five years he will execute an instrument instrument ment continuing for a further perio d i of five fie years this a agreement and the th e I power of the trustees hereunder in j eluding said power to requIre an ex extensIon extension tensIon hereof This a agreement may however be terminated b by the trustees trustee s in the their r discretion whenever in theIr r opinion its purposes have been accomplished pushed or for any rea reason on its termination I tion Is In theIr opinion advisable |