Equitable Assurance Society.

Taranaki Daily News, Volume XLVII, Issue 7844, 9 June 1905, Page 3

Equitable Assurance Society.

TROUBLE IN THE DIRECTORATE (Received June 8, 10.36 p.m.) LONDON", June S. The Telegraph's Now York correspondent states that seven of the ■ Equitable Life Assurance Society's directors, including Mr Fridk, Chairman of the Investigation Committee, whose drastic report excited much feeling, have resigned in order to heal the quarrel between the rival aspirants to the control of the huge surplus, which is the real source of the troubUe. It i» reported that Mr Chauncey ilepew was offered, but declined, the chairmanship. The New York Herald slates that the conference attended by Mr Hyde, President of the company, agreed' on Mr Herrick, Governor of Ohio, as Chairman. It is understood that Mr Herrick is the head of the syndicate ' for pit; chasing Mr Hyde's stock in order to secure complete control, (Received June 8, 11.7 p.m.) LONDON, June 8. Better's New York correspondent says the remaining Equitable Life Assurance Society's directors decided to reduce salaries and expenses, and to re-organise the executive committee. They will elect a new nominating committee empowered to select' the executive committee.