The Washington times., 1905-04-02

WIN THEIR FIGHT
To Take Control of Equit-
able Assurance Society.
Mr.. HYDE is BADLY BEATEN
naturalization Plan May Take Twenty
Months to Work Oat Ratio
of Representation.
Mr.. HYDE is BADLY BEATEN

| NEW YORK, April latter a session
lasting more than four hours. the meet
| ing called by State Superintendent OF
insurance Francis Hendricks to hear
arguments In the naturalization plan OF
the Equitable Life Assurance Society
was adjourned soon before O'Clock this
afternoon with the question still un-
solved, and the resignation of James II.
Hyde as first vice president Of the So
| ciety still unconsidered.
An official statement was issued. and
each of the conferees excused himself
from saying anything further on the
subject The statement referred par
ticularly to the ratio of representation
in the directory.
Views of Mr.. Crimmins.
When seen at his residence tonight
John D. Crimmins said:
The policy holders will have full
charge of the affairs of the Equitable
Life Assurance Society Within twenty
months Mr.. Hyde has made some con-
cessions. and he is beaten.
1T was not the intention of the policy
holders protective committee to enter
into any discussion of the business
v.
We avoided making any reflections on
the management of the society We had
in view the safeguarding of the large
aecumuiation Of assets which belong to
the policy holders, and we believe the
policy holders should have q voice in the
management of the society. We also
believe the society Is a quasi-charity,
trust. and not proprietary company
The funds are held in trust by the So
oiety, and with interest and other nc
cImufations returned in annual distri-
buttons to the policy holders.
Investigation Started.
Twice during the first week of Feb
ruary last a petition regarding the af-
fairs Of the society was presented to
the board of directors asking for an in
vestigation and as soon as the second
request became known the matter be-
came public
we are advised that full and
thorough examination into the societys
aHairs VIII soon be made. The two va
cancies now existing on the board of
directors will be filled by men nominated
by the policynolders' committee These
TWO men will be members of the exec1I-
1--WE CoHiblttee also and members OF anv
investigation committee that NAV he
appointed" ~
Mr.. Hyde's Statement.
James Fl. Hyde issued the following
statement later:
To the agents and policy holders OF
the Equitable Life Assurance Society.
The public press for several weeks
past has Deen filled with scandalotls
charges relating to my conduct as a
director and officer of the Eo,,itn bl..
society. These charges are false. The
heve their origin In an effort by indi-
Nldrals to obtain control of the Eo,,it-
able Society and its assets.
AS To the granting of participation in
Inc control of the society TO policy hold
ers, ! have ever since the subject was
hrst broa ached, expressed my Willingness |
to have the stock left bv nv fath.- |
voted by the trustees. in whose hands |
be left it. in favor OF granting such |
upon that subject | am
In entire accord with the board of di |
rectors and with the superintendent OF |
II surance of the Sta-e of New Yc-k.
do not control the Equitable Life
Assurance Society. The stock Ieft By nv |
father, the founder of the society. Is |
le!d by trustees. of whom the president |
Of the society, James W. Alexander. is /
Dne.,
challenge the fullest investigation /
II the management. including every Of /
1ci1l act of mine. JAMES H HYDE
New York, April l."