A SOCIAL MADCAP
HOW INSURANCE PROFITS ARE SQUANDERED. A DENIAL FROM SYDNEY.
By Telegraph—Press Association— Copyright . Now York, Fob. 17. Owing to tbo frivolous extravagance of Mr Hyde, vioo ohairman and largest bolder of atook in tbo Equitable Life Assurance of tho United States, the society has adopted mutualisation, giving policyholders a voice iu tbo management. recently gave a ball costing £20,000. "
Boooivod S p.m., Fab 19. Sydney, Feb 19. Tho secretary of the Sydney branoh of tho Equitable Assurance Society, Now York, has received advice that a resolution has been passed that polioy-holdors be given a right to vote for directors. Steps aro being, taken to give tho proposul immediate effeot. There is no word that the change has been brought about through tho reason given in the.cable. Hyde, tho only son of tho founder of the society, is a man of considerable wealth. His financial oonnootion with tho aooioty can only extend to his salary as an offioor and 7 per cent on his holding in a nominal oaptital. It is absurd to say that the constitutional ohango is duo to bis personal extravaganoe.' \
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Bibliographic details
Gisborne Times, Volume XVII, Issue 1384, 20 February 1905, Page 3
Word Count
186A SOCIAL MADCAP Gisborne Times, Volume XVII, Issue 1384, 20 February 1905, Page 3
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