New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-05


sloEemspt had been conducted IN secret. So far as
bers O. the board OF directors. except the officers
gware OF any such movement or OF any OF the al
legso grounog on which Il vas conducted Ine
any Of the other directors had been advised OF rs
20 50 timed as 70 ofer me the least possible
opportunity for reelection and consultation On 9
my fortune. but my destiny and rePutat5io15 ~ AZ
Alexander. whose power and influence with the
ofhoers OF the company were exercised secretly 50
were concerned. and the signatures 70 documents
shaEgng me with unftness were thus no4Seq even
my functions have not brought me in contact and
their dissBDTOvai OF me with little OpDOrtunity
On part e e9 Ss5s5 55s S a t9FS was On
EQUITABLE STOCK INHERITED.
Ny father Henry b Hyde was the founder ,a-,f Of
e is stock The success q TIE s9estZ vas sh as
as rs s1,cosssor iT he ownership OF its stock
should devote my life and energies to the future OF
shall not in this statement undertake to discuss
o. palliate any personal indseretons wnen nay
40 hesitation IN contrasting all OF these ana osers
been CHARGED. with the attitude which has, been
taken IN this matter by James w AleHanoeSS, ne 9
and Of such abilities that II Is Impossible he should
have misoonceived the solemn duties devolVed on
trust executed by my father.
AZ The tine o. ny fathers death ,l he , eII
with certain other gentlemen whose functions as
twenty-five years. as trustees Of the majority OF
We stock or tne Eanitaoe soo9esg DsSuSss1 4ote
the majority Of the stock OF the Equitable society
b3eet Rso on ny pai 10 sny nominees to member
ship in the board and 70 a right n me e cast the
ca by them In the event OF the retirement OF
trustees were by deed. authorized TO select his
successor. and, General Fitzgerald having retired
this power was exercised in the selection OF MI
Nv fathers confidence in Mr. Alexander's loyal
devotion 10 his trust and HIS jealous hdeity IN
carrying ont its purposes was so great that he
der, tho natural successor Of the latter IN the
no once in the Equitabie society which he does
not hold primarily through the trust and confidence
q Ry aee sfh eEeoaed 5E'e Hmm my r KSnd IS
director OF the Equitable society and president OF
that society solely by the vote OF the stock con-
81 the trust ana oonhdence which have reposed
in him and which was almost an inheritance from
By this trust deed Mr. Alexander was not only
charged with the obligation thus 10 care for my
patTimony. but he was most solemnly abtured IN
posed 70. exercise ali possible influence with me.
induce me 70 renew and Extend the trust thus
continuing as FAR as might be legally possible the
ciety initiated by my father.
TRUST DEED REQUIREMENTS.
And this indenture further witnesses that the
% Of I6 sSa rat Is Sa set 1u for Ife
and TO perform the duties and obligations imposed
0nd part do further agree that. in case the said
James aazen Hyde shall survive the party hereto
OF the first part, the parties OF the second part
and their successors will use all reasonable efforts
% the a sa 81 thirty H 2eeP A SnS 9P0n ms
termination Of this trust 70 make settlement
and IN such manner that the same may continue SO
by suitable trustees and to Be preserved for the
benefit OF the children Of the said James Hazen
,,. on Jun: June s. 1906 win have attained Cshould
jeot 70 nv dgfv 'I ~ yei 5I ana VII men sep
have come into possession Of my stock. Thus.
Alexander, owing his existence as a director and
officer Of the Equitable society TO his trust and
the stock conhded 10 his care. has engaged in
secret cabal with officers under his cOatrol and
the OF the subject Of his trust and 10 destroy
me ,, reputation and future Of the beneficiary.
Rnder mas had an infiuentisi T,oe and ~ me eIeS
ton OF which he has never in single insta Ne
been antagOnized by me. II IS substantially me
ing without eontroversy-the vacancies from time
70 time being allied by those who were IN logical
my portion Of the credit for having maintained in
minstrston the afTairs Of tie society have singI-
larry prospered. Under the bylaws OF the com
ana The president has un9EnsIiv vide s ana co1
Troilir, ,aTeTe in he s11rer,jsoy P sc b,,e,aees
] cannot be justly charged by Mr.. Alexander with
usurped no such functions and could not have
done so without incOmpetency on his part.
RELUCTANT 10 CHANGE POLICY.
no man could be more reluctant than to change
the character Of the board OF directors of the
Equitable society impair the proved efficiency
OF its management Il cannot be pretended that TO
deprive the stock OF the Equitable society Of fits
legal control would result in the selection OF a
better board OF directors or in the creation OF a
more efficient management There has been no
general claim demand the part Of policy
holders IN the line OF the present movement There
can long continued disguise Of the true pur-
pose q the present movement It's purpose Is TO
transfer the selection Of the directors OF the Equi-
table society and its management, 10 a coterie OF
whose more immediate contact with the policy
holders would place them IL 4 favored position to
obtain the proxies OF the latter. and Mr. Alex
ander's gross breach Of trust to my father and 10
none hut the most specious pretext OF high motive
shall not discuss any personal shortcomings of
my Own. That such have been charged is a sufi-
Gent reason for desiring make the most
absolute commitment, for extended period OF
the affairs OF the Equitable society 70 its present
high management
sruesdav's meeting OF the subcommittee OF the
board appointed 10 consider the memorial above
referred 20. and Il after this expression OF
purpose upon my part and while my formal COM
FnuEicarion the board 10 effect this purpose
IN prenarRfiOn that those whose efforts II appears
20 Sc TO fOnestal dignided settlement OF this
fortunate situation have filled the public press
With scandal. prefer TO believe that this scandal
T1uifable society outside OF its organization. but
its publication has constrained me 10 make this