1959 Jehovah's Witnesses In The Divine Purpose Pg. 252
For many years it had been the view of The Watchtower that the faithful men of old who served God faithfully before Jesus' time would be raised from the dead even before Armageddon to join in organizing Jehovah's modern-day people and to share in shouldering the remnant's responsibility of representing the Lord Jesus Christ in the capacity of overseers of the flock of God on earth. These men were variously referred to as "ancient worthies," "faithful men of old," and "the princes" in the light of Psalm 45:16.
Because of the understanding of this text that had prevailed for so long, many of Jehovah's witnesses expected at every convention to greet Abraham, Isaac, Jacob, David and the others, welcoming them back from the dead. You can imagine, then, the electrifying effect on the audience this statement of the speaker made: Would this international assembly be happy to know that HERE, TONIGHT, in our midst, there are a number of prospective PRINCES OF THE NEW EARTH?
The 1975 Yearbook below now relates this same convention event, but from a different viewpoint. The convention was back in 1950. Notice the sincere feelings & hope the people felt there. I was amazed at the mindset, of JW’s, asthey held their breath and looked around the stadium. Don't they ever learn from the past?
1975 Yearbook pp. 213-214 THE “PRINCES” ARE HERE
For years, Jehovah’s people thought that faithful men of old times, such as Abraham, Joseph and David, would be resurrected before the end of this wicked system of things.Those past servants of God were called “ancient worthies,” “faithful men of old” and “the princes.” So, when Jehovah’s people went to a convention years ago, there was a degree of expectation. Perhaps that gathering would be marked by the appearance of one or more of those resurrected princes or men of old!
With that in mind, mentally join the 82,601 conventioners as they listened intently to F. W. Franz on Saturday evening, August 5, 1950. At a climactic point in his absorbing Scriptural talk he asked: “Would this international assembly be happy to know that HERE, TONIGHT, in our midst, there are a number of prospective PRINCES OF THE NEW EARTH?” What reactions there were to that query!
Here are some vivid recollections: “I recall the gasp of amazement that swept the assembly, and we began looking around us expectantly . . . was David here, or Abraham, or Daniel, or Job? Many of us sisters had tears in our eyes!” (Grace A. Estep)
“I was so excited I sat on the edge of my seat with my eyes glued on the dugout. I was certain that one or more of these men of old would emerge at any moment.”(Sister Dwight T. Kenyon)
“People in the corridors rushed to the stadium entrances to view the speaker’s stand, perhaps expecting to see Abraham, David or maybe Moses.
The audience stood up—the atmosphere was charged. I am sure that if someone with a long beard had walked to the platform there would have been no containing the crowd.”— L. E. Reusch.
A profound silence next settled over the audience. Every ear seemed strained to lose none of the speaker’s words. He discussed the real meaning of the Hebrew word translated ‘prince.” He pointed out that today’s “other sheep” have suffered just as much for their faith as did Jehovah’s witnesses of old. Hence, nothing argues against Christ’s making these “other sheep” “princes in all the earth” as required. (Ps. 45:16; John 10:16)
Conclusion: It was just an adjustment to the understanding of the word ‘prince.’ Another letdown. Still I think, it would have been awesome just at the right moment, for a homeless guy with a long beard to crawl out of the dugout. There would have been pandemonium in the crowd!!