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Show Equitable Afiairs Again Complicated Resignations of Five Directors Looks 111 for Harmony Schiff Scores High Officials. NEW YORK. June 5 Plans to etab llnh harmony in the affairs of the Equitable Equita-ble Elfo Assurunce society were further Complicated today by the resignation of two mejre. directors, making five In all who have recently retired from the board. A dispatch from Boston announced that T. Jefferson Coolldge had tendered his iesignaiie.ii, to take effect Immediately. This was followed by ih.- resignation of Ja ob Bt htrr. bead of th.- banking house of Kuhn, Loeb & Co., who has been a m smber t the board of directors for twelve years, In addition, announcement came from Cincinnati that Melville E. In-galls In-galls would also resign. Mr SchlfTs n signation was convcyexl in the following b tier te President Alexander: Schiff Writes a Letter. Pir-ddent Kepiltablo I, lie AsaUrai.e e. S c.-tj Dear Sir. In view of tho proceed I nipt at the me-cllni; of th- ltud of dlrc-ctoiK of tho Bqultabla Life An.uranco o-i?tj held la.-t Friday. I feed constrained, after mutuie- reflection, re-flection, to tender my resignation r a di-notor di-notor of the? sejclely, to take? effect at once. Throughout the re-cent controvc-riey I havo Bludlously refrained from uny action which might add to the. complications with which the ne-lety lias been ntru;gllng. 1 have even renialii.-d silent in tho faco of ninny malicious ma-licious and baxel.'.-cs BtatcmwnlS i counting the, business transactions batWeSn niy firm und tho society which im been disseminated through your agents, notwithstanding your fallen c- to public Iv disavow and deny theiee BtataUientS Instead of seii.JInej mo cms wu havu lec.nlly done-) prlvai.- mr.osageis e-xprej-BlVd ef regret for tin India. rct and o r-zc-alous actions of your frb-nds Offered Supieme Opportunity. The meeting of th? directors last Friday offered, of-fered, it aoeniecl to me. ft yuprtmo oppoe'tu-nlty oppoe'tu-nlty for rcwulng the wocle-ty lioni the- . l situation Int.. hlh I' hud t-re-n enst by fuc-tlonal fuc-tlonal disputes and bl the conduct of Its of-flcerS. of-flcerS. If ou and Mr. llvele had bSSD abbot abb-ot the critical moment to riso to tho oocaslon nnd had suppferlc-d iny motion for tlis appointment ap-pointment of u oommlttact of directors cm-slNtlnic cm-slNtlnic t mt-n of national reputation for high charactei and independent judBinc-nt. with uu-thotity uu-thotity to select ft chairman of the hoard with plenary powers, adjuit mi sifeCtlVS re- organixatlbn of the managemmt of the n-cicty, n-cicty, .end the restoration of public oonfldencs nilirht have betfc poaslbli; but you and Mr. Hydo have p rmllted th psycholoKlcal mo- , nt to alii' by anei moosnlaad the mistake ..nl :itter the -.llmntc-eratlon of the iMiard of directors hnd been brcun and It wire t'xi lato to repair ih.- ..'anini,' which had been dona No Chance for Action. In view of the present ltUStloh, It does not seem likely that there will be an opportunity for Independent action In tlie boaid. anei I he- rclucinntly corrfe to tho conciucion that I can in long.-r be of service to the aocloty for remaining upon Us board of directors n which 1 have been a member for twelve years Vary liuly yours, JACOB Hi SCHIFF. Stewait Is Undecided. julm A Stewart one "f the committee f.f seven appointed by the directors at their last meeting to nominate) a chairman chair-man of tho board, said today that he would not decide on what course he would adopt until the special meeting of the dire di-re .tors c alled for Wednesday. D. Mills another member or the committee. H.iid In : 1 1 1 probability he would resign, but would not decld-o posltivelj until tho I 1 1. 1 1 1 1 in- ' ting , It Is understood that August P.-lmont Ins decided to serve on tho nominating committee, regarding this as his duty to the socles Mr. Belmont, however, fle-. fle-. lined to discuss the afTalrs of the Equitable. Equit-able. Inquhy Is Resumed. The inquiry into the affairs of Ihe so- clcty was resumed today at th Equitable, offices b .state- Superintendent of insur-.,, insur-.,, , . tie ,,,Im k- Gerald B. Brown, superintendent su-perintendent of the bond and mortgage dc partment of ihe society, was summoned, and Second Vlce-Prvsldent Tarbell was again ouestloned Superintendent Hen-dilcks Hen-dilcks said thit li had alreadv examined Jacob H. Schiff. but could not say what other directors had been before him. |
