THE EQUITABLE COMPANY.

Auckland Star, Volume XXXVI, Issue 43, 20 February 1905, Page 2

THE EQUITABLE COMPANY.

. ! •, (By Telegraph. — Press : "Association.) SYDNEY, February 1!). i flic Sydney branch of the Eqtiitabb Assurance Society of New York has received an advice of the resolution passed thai policy-holders shall be given the right to vote for directors, and that stx-ps arc being tuken to give the proposal immediate, effect. The officer.-' of the Sydney branch say ilr. Hyde is tbe only Yon of the founder of the society, and is a man of considerable wealth. ' His financial connection with the society can only extend to his salary as an officer, and 1 per j cent, on his holding in the nominal c?.piItal. It is absurd, they say. to assume that the constitutional change is due to I his personal extravagance. WELLINGTON, this day. Tne following cable has beeu received by Mr. Trevor Gold, resident secretary of tbe Equitable Life Society: 'The directors unanimously resolved that policyholders be given the right to vote for the election of directors, and that steps be taken to carry the principle into effect at the earliest opportunity. A committee has boon appointed to arrange details. This change was inaugurated by the directors in the interests of the policy holders of the society. Mr. James Alexander was re-elected president; Mr. James H. Hyde was re-elected vice-president; Mr. Gage E. Tarbell was re-elected second vice-president; and all the other officers were also re-elected. The assurances in ■force oh December 31 amounted to over 300 millions; the assets to over 85 millions ; an increase for the year of over 0i WffiP9S? '^ Ie surplus amounts to over 1J I millions." ■ ."