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Show MORTON'S START IS AUSPICIOUS New Head of Equitable Is Aclive. Cleveland and Westinghouse Accept Trusteeship of Hyde Stock. Belmont nnd Ives Give Assurance of Their Approval of Morton's Choice ns Chairman. NEW YOBK. June lft The Installation of Paul Morton. Secretary of the Navy, as head of tho Equitable Llfo Assurance 01 lety was auspiciously attended today by tho prompt acceptances, as members of the new board of trustees of tho Hyde estr.to stock, of former President Grover Cleveland and George Westinghouse, Justice Jus-tice Morgan J. O'Brien, tho third member of the board, having already accepted. Belmont Approves. Mr. Morton also received assurances of full upproval of his selection as chairman of the hoard of directors from August Belmont and Brayton Ives, the latter of whom, after resigning from tho board, wroto to Mr Morton to explain his action and tender the assuranco of his best wlbhes for his success. Day of Conferences. The new chairman spent the greater part of the day In conference with President Presi-dent Alexander and other officials of tho society He will not enter on tho active dlncharge of his new duties until after his resignation as Socretary of the Navy on July 1. Cleveland Discusses It. Mr Cleveland In discussing Equitable matters said: "I deem It my duty to do what little lies In my power to bring about Improved conditions con-ditions In tho affairs of this company. ' This has grown beyond tho Equltablo as a company Life Insurance Is a national nation-al affair, In which the Interests of great numbers of our people are Involved. Therefore. In this case, I feel that a pub-liC pub-liC duty lies upon me "Tho other gentlemen who have been named ns trustees of the stock have th -confidence of the people They are most estimable. I would not think of participating partici-pating In the business were It not for the nigh character and the great ability of the management. Feels It a Duty. "I do not know how much power wo shall have as trustees, but I shall endeavor endeav-or to the best of mv ability to bring about an Improved condition of affairs In tho interests of the people it Is a duty I fee Incumbent upon mo for the public good This matter Is entirely new to me I havo not had time to enter Into any details, de-tails, so I an my nothing more." |