The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-28
HYDE WON'TBUDGE UNDER FIRE
WILL HEED NO PROPOSITION IN
TIL EE'S INDICATED.
Untermyer Denies That He Attended an
Equitable Peace CONFERENCE.-THE
andcr Men Distrust Hyde's Oner to
r.u.,oa StooL-Naw Cha rtpr Held lin.


Negotiations for the settlement of the
Equitable controversy were at standstill
Yesterday as a result of the decision rem
dered by Justice Maddox in favor OF the
stock control Of the society. Vice-Presi-
dent James H. Hyde. backed up in his
contentious in regard to his property rights
10 the majority stock Of the institution,
would it was said yesterday, listen now
to no proposition looking toward settle
ment OF the present internal differences
which did not clear him Of the charges
that have been made against him. Nor
would he, it was declared. consider any
plan that contemplated the surrender by
him of his stock control for a monetary
consideration.
MIR. Hyde, it was said, feels now that
his future career as a business man de-
ponds altogether upon his being vindicated
to the entire satisfaction Of the public.
While he appreciates thoroughly that the
Yolicyholders must have voice In the
management of the society if it is to be
rehabilitated and confidence in it restored,
yet he proposes, it is announced, to carry
the present fight through, if need be, to
the very end.
The statement was made yesterday
afternoon in a reliable quarter that Mr..
Hyde's counsel, Samuel Untermyer, and
William Nelson Cromwell. who represents
the Alexander interests and the interests
of certain of the dummy directors, had
been in conference most of the afternoon
at an uptown hotel in an effort to reach
some u understanding for settlement OF
the trouble before the directors meeting
on Wednesday. Mr.. Untermyer denied
last night that he had attended any such
conference.
President Ale1ander's support ers said
vest erday hat they would never accept the
offer which MIR. Hyde made some time
ago and which he still leaves open, to tr,ls-
tee his stock for a period OF years, the
trust ees to have the power to elect twenty
eight directors named by the poiicyholders
or proxy committee representing them,
and the ether twenty-four as designated
by Mr.. Hyde, subject to the arrangement
Of "det ails and conditions"
The Alexander people said that with
Mr.. Hyde having the power to arrange the
-det ajls and conditions there was no doubt
that the board elected under such circum-
st ances would be completely represent a
tive Of Hyde and not the ,policyholders.
It was said by the Alexander supporters
that efforts would be made by them be-
tween now and Wednesday to come to some
underst anding with Mr.. Hyde in the inter-
est OF the policyholdes. II not hing defnit e
is accomplished by that time, the fight will
be renewed wit n increased yi1or ;, IT,.
offer to trustee his stock should be ac-
cepted, would insist that the men on the
proxy committee he men OF nat!ona! repu-
tation, in whom the policy holders could
put the greatest trust. Grover Cleveland
was mentioned as the type OF man that
would be acceptable.
Acknowledgement Mayer announced yes
terday that in view Of the decision of JUS
tice Maddox. the proposed amended charter
which was before him for his approval
would not be acted on by him until the
appeal. The charter has been in the
hands OF the Acknowledgement for some
time and it was said that he purposely re-
served his decision until the injunction suit
was determined.
Gov. Higgins denied Yesterday that he
able Life Assurance Society's affair. The
statements to that effect published yester-
day he declared to be entirely without
authority The Hyde supporters yester-
day accused the Alexander people Of being
responsible. for these reports. They raid
Alexander people, working through per-
sons in Albany. had taken this means CT
Attempting to Offset the Maddox decision
in the public mind.
William r. King, former president OF
the Merchants Associa ton. who suggested
to President Roosevelt the desirability Of
the national Government taking a hand
in the Equitable situation and investi eating
life insurance conditions generally, yester-
day made public letter which he received
from Secretary Loeb, accompanied by a
report from the Secretary Of Commerce
and Labor. The report says in part
Under the act creating the Bureau OF
Corporations authority was given to collect
useful information regarding corporations
engaged in interstate commerce. Including
corporations engaged in insurance
THE question OF the power Of the Com
missioner of Corporations to compel the
attendance of witnesses and the production
OF papers in any inves tigation Of an insurance
company has been thoroughly considered
In view Of the decisions of the Supreme Court
Of the United States that insurance is not
interstate commerce, / am Of the opinion
that it would be unwise to attempt such
an investigation as is suggested by Mr..
King. The information which the Com
missioner of Corporations could obtain
would be only such as would be volun-
tarily afforded by any insurance COM
pany."
Secretary Metcalfe said further, however,
that the question of presenting this issue
again to the Supreme Court has received
much attention, and that bill had already
been introduced in Congress by Senator