EQUITABLE LIFE.

Gisborne Times, Volume XVIII, Issue 1476, 9 June 1905, Page 2

EQUITABLE LIFE.

THE TROUBLE OVER THE SURPLUS.

By Telegraph—Press Association—Copyrlgh Received 10. S p.m., June 8.

London. June 8. The Telegraph’s New York correspondent states that seven of the Equitable Life Assurance directors have resigned, including . Friek, the chairman of the investigation committee, whose drastic report excited so much feeling. To heal the quarrel between tho rival aspirants to oontrol the huge surplus, which is the real source of the trouble, it is reported that Mr Chauneey Depew was offered, but declined, the chairmanship. i The Herald states that the conference was attended by Mr Hyde, president of the company, who agreed on Mr Herrick, Governor of Ohio, as chairman. It is understood that Mr Herrick is at the head of a syndicate for purchasing Mr Hyde’s stock in order to secure complete oontrol,

REFORMS DECIDED UPON.

I By Telegraph—Press Association—Copyright Received 11.17 p.m., June 8. London, June 8. Reuter’s New York correspondent says that the remaining Equitable directors i have decided to reduoe salaries and expenses, reorganise the executive committee, and elect a new nominating committee empowered to select a committee.