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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 16, 1905
Page
4
James W. Alexander and top Equitable Life Assurance officers push to replace a young official under 30 who holds controlling power. The Society, with substantial cash reserves, becomes the focal point of a power struggle as half a million people show concern.
The Equitable Life case pits James W. Alexander and allies against James H. Hyde over control and voting power. They seek Hyde's resignation and removal from management while citing Hyde’s alleged lavish life and speculative schemes. Schiff and Rockefeller/Rothschild ties are hinted in a battle for influence amid a $478 million cash base.
James W. Alexander, president of the Equitable Life Assurance Society, declares that granting policy holders the right to vote for directors is necessary to preserve the company. He denounces concentrated power under James H. Hyde, notes expert opinions supporting charter changes, and says the board will decide at its next meeting.
Rexall Medicine touts Mucu Tone as the sole cure for debility caused by catarrh. The ad claims catarrh destroys health, asserts Mucu Tone destroys germs, tones mucous tissues, and guarantees relief or money back. A trial size is offered at fifty cents with a personal recommendation.
Fifty three feet of new show cases were installed in the men's furnishings department of Wolf's My Clothier on Hanover and Portland streets yesterday afternoon. With the long stretch of cases already in use, My Clothier now presents one of the handsomest departments in Boston.
State sealer Daniel C. Palmer urged a bill to regulate kindling wood measurement. He said hawkers’ barrels varied from one and three fourths to two and four fifths bushels, prompting uniform standards.
The American Card Clothing Company and its machinery were sold today to a syndicate led by Henry Ashworth of Fall River. The transaction includes Leicester shops and Worcester and Philadelphia locations, with real estate and accounts not included. The main factory will operate at the T. K. Earle shop in Worcester. The firm began 18 years ago as a trust of 17 subsidiaries.
The Volunteer Harbor 4 of the American Association of Masters and Pilots held its annual ball in Berkeley Hall last evening with over 300 couples attending. Captain John C. Silva led the grand march with his wife, followed by Captain and Mrs. J. E. Coleman. The order began in 1887 with 25 members and, after a 1904 reorganization, now lists nearly 200 members and maintains a lodge near the custom house.
An advertisement touts Graves' Grain Alcohol as pure with colorless strength sold by Chester H. Graves and Sons. It urges buyers to request Graves' brand in sealed 8 16 and 32 ounce bottles and to verify the firm name on the label.
The petition to Equitable Life Assurance Society directors urges removing stockholder voting power in favor of policy holders to create a mutual company. It cites the 1859 charter and current cash on hand of 478 million, with long-time directors and founders cited as motives for the confrontation.
A New York notice dated February 2 1905 argues that policy holders should hold voting power in selecting society directors. It cites 500000+ policy holders and 4100000000 in reserves, urging the board to grant voting rights to policy holders and extend this to all beneficiaries.
The Sunday Post teases readers with a promise of enhanced brilliance from the great detective Sherlock Holmes I, noting last week’s surprise and inviting anticipation for the upcoming feature.
Jacob H. Schiff of Kuhn, Loeb & Co., a director of the Equitable Life, declares support for policy holder participation in the society’s control. He insists trustees, not executives, should manage the company and notes his firm’s securities dealings benefit the Equitable, while similar sales occur to other insurers where he is not a director.
Thomas W. Lawson argues Hyde's Equitable has used a calculated plan to placate policyholders while preserving control. He warns that Wall Street structures could spark a broader panic if outsiders gain power and urges tough action against entrenched interests.
A health notice extols charcoal as a safe purifier for stomach and bowels. It promotes Stuart's Charcoal Lozenges, claiming improved complexion breath and blood, with a Buffalo physician endorsing daily use for gas, skin, and liver benefits at twenty five cents a box.
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