Life — June 22, 1905 — page 6: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

White there ts Live e's Hope.” VOL. XLY. JUNE 22, 1905, No. 1182. -Fixst Street, New Yorn. OTHING that has 1 doing —and there s been a od deal-— has been equal i terest to thi enor- of fe mous muss OS Equitable Life — Society The time had passed for forbearance with the directors of that concern. No mat- ter how them were dummy- directors, the power to manage that any of company had rested with them, and on them rested the respor dility for had © pass to which its come. When, at the mecting of | 2, the Hyde and the Alexande rectors got together and rejected the ceased to be Frick repx : decent, let alone virtuous. Condemned by their own committee, the respon- t, patien’ sible oficers of the society rejected its verdict. Public sentiment was then n ger at pains to make distinctions between Alexander and Hyde It flatly o; could afford after t legiance to either of these gt tlemen. Every director who had a reputation to save was bound posed to both. No director at to admit to stand for the policy-holders and for them only Of course the curious provision by which a majority of the nd voting power of the any in the world to be held by one small famil stock ereatest life insurance com came represented by one inexperienced young man, was a great mistake and misfortune, for which no one is to blame. But it wasa mistake that could not bz perpetuated No one man ought, or can hope to, control great life insurance com- pany by inheritance, purchase, or in Ll any way, except as the chosen repre- sentative of its policy-holders, and responsible to them. Mr. Hyde fell heir to an impossible inheritance. If he had been a self-contsined, self- effacing, prudent man he might have rubbed along with it a long time. But to assert his rig was to demon- strate the absurdity of them Therewas shim to do but what he final- ly did : to get « nothing fc ut onthe best terms he could, receiv fair compensation for wh. ave up, but relinquishing for- ‘olof stock. The stock had to go to the policy or other. No} holders in som way ny less could restore to the company the public confidence that is indispensable to its prosperity OBODY has exy Ha vort. Possi ined how Mr » sign the Frick an came ly it suited him. Pos- sibly he found it necessary to keep up with the procession he was in. There were first-rate men on the Frick Com- It seems evident that a ty of them resolved to make a majc real report. And they did, The voice was the voice of Frick, but the hand rumor says, was the hand of Knox It may n to individuals, but it was real. It have beer absolutely fair meant business. And it was so strong and so able that it was certain to do the business it set out to accomplish Most of the committeemen. resigned, but they had done their duty by the licy-holders, and the vacancies they left were untenable except by men olders. What a wonderful, wonderful sn who represented the policy And a salutary smash, too, in the long run A cure seems to have come, ne Whole business of life insur- and ance will be safer and cleaner for this drastic treatment. And it will impress on the commu- nity several truths that need driving home, as that the whole duty of man is not fulfilled by merely making some money, and that the first duty of re- sis to be affirmatively re spectabili spectable, Besides all that, it gives all of us who are not directors valua- ble emotions about our relative virtue emotions which may, it is true, be not well founded, but which are pleasant while they last. HE Czar is reluctant, it seems, to make peace. The Czar c: n take his time about it and make up his mind at his maj tic leisure. Japan is still fighting Russian absolutism, and the longer p the is that Russian absolutism ace is defe surer it will be beaten down. One at re ¥ to be n Asia by The other great result f Toyo's victory is ¢ nment of E. ste: to 1 not by a Czar and a bureaucracy for themselves > government of Russia by a for the Russians, a GOVERNOR VARDAMAN ane nounces that the University of Mississiy ni cannot accept Unele An- drew Carnegi 's money, becattse it has been coined from the blood and tears of a fine turn for language, but he seems to us both over- > toiling masses. The Governor has istidious and inac- curate. Uncle Andy coined the bulk of his superabundant dross out of Mr. John P. Morgan's Stecl Sodali Mr. Morgan may have snufiled some, but he had to come down, and did com: down, and shed neither blood nor un- manly tears about it. Of course the tariff helped vastly to put Uncle ion to squeeze Uncle nd the railroads tha! fairly good money as mone Andrew in a po Morgan's Corp money was + goes, and Governor Vardaman’s university mi: better have taken it. Governor Vard- man,we suspect, would rather re eve his mind with languag> any day, than take in money for his State Univer- sity comicbooks.com