The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-22
HYDE'SSHARP TALK TOAGENTS
PRESENTS" THEIR DEMANDING
Farm IN NATURALIZATION.

Really 10 Wrest Control From Him
Tells Committee They'd No Right
to Interfere-sayS Agents Mseting
was Inspired by HIS Opponents.
Vice. President James H. Hyde Of the
Equitable Life last night made public the
letter which he has sent to the committee
Of the general agents in reply to their re-
quest that he resign the vice-pTesidency
Of the society
Mr.. HYDE reviews the attack which
he says has been directed against him
from the beginning. He tells the agents
that he sresents' their misguided action,
but that he Is not indifferent to their good
will toward him. Their action, he tells
them was only another move In the cam
paign Of attack as originally planned against
him.
He asserts that the plea Of mutuahza-
ton on the part Of those who are opposing
him Is a mere sham, under cover Of which
il Is designed to wrest from him the control
Of the society. Here is the letter;
MIR. Hyds's Reply.
NEW YORK, April 81, 1908.
sDEAR SIR: The subject on which you
have addressed me involves the considera-
ton Of the whole unhappy controversy
which has been In progress for several
months past. The injurious effect OF that
controversy upon your fortunes Appreciate
and can well understand your strong de-
! sire to promote some action that will bring
il to an end. In that controversy l feel
! that l have been trt ated with great inius-
! tfue, and that no one has 80 eel ious cause
| for complaint as / have. So far as any
good results could be served by the Tesigna-
! ton Of any officer responsible for the injury
which the society has suffered, and is doubt
less to suffer IN the future, your request
is misdirected.
aIn view Of the concessions I have been
willing 10 make for the welfare OF the society
l resent your misguided action, taken In
utter ignorance Of the true situation, OF
which you cannot possibly have accurate
knowledge. Your request, perhaps un-
Willingly on your part, Is merely another
move in the campaign Of attack originally
devised. When the real facts are known
to the policyholders believe that all right
minded men among them will be as indig-
nant as / am with the methods that have
been employed by my enemies for their
own ends, in pursuing which they have not
hesitated to sacrifice the best interests
Of the society and TO disregard the proper
protection Of the policyholders.
Your action, instead of furnishing 90
luton Of the present unfortunate situa-
ton, renders the difficulty more acute.
It is regrettable that in this situation the
oonvention OF managers did not take 40
vantage Of its opportunity 70 become .
factor In promoting honorable peace.
Il assume that you have been kept in
| a. Nla
assaults that have been made upon mo.
but 1 doubt whether you have been told Of
the efforts made to avert the injury TO the
society from these attacks.
you probably know in a general way
Of the circumstances under which l was
hastily summoned TO the Offices OF the
president. by telephone, from the country,
on the eve of the annual meeting and shortly
before the expiration Of the trust under
which my stock is held; that was there
confronted. without previous notice or
warning, with hostile memorial OF officers
and employees, which had been secretly
circulated and in many instances signed
under coercive influences; that my i'm
mediate retirement was demanded under
threats; that l peremptoriy refused to
retire, and that such refusal was followed
| Dy lnb lNllnthldle ohbAlAAf7'A'AA ~ VIZ
Of directors Of a demand for my retire
ment and for practical acknowledgements
Of the stock OF the society,
1T may surprise you to learn that the
leaders OF this attack upon me and the
society have persistently disolaimed re-
sponsibility for any and all Of the news
naper publications assailing me and de-
flaming the society and its management.
Tho plea Of naturalization was a mere sham
rnder cover OF which it was designed by
those leaders 10 wrest the control Of the
society from the responsible hands OF the
most representative body Of directors In
this country and to transfer It to their own
grasp through the use OF the agencies a.
instrlmentalities.
NfuTUALIz ALTON SYSTEM BAD.
, s1 ran understand the desire Of your
| bodv for naturalization, but have never
balieved and do not now believe, that a
? svsten Of control which virtually placas
= the agents over the directors and officers
1 Ia sound in principle. At the threshold
~ this matter and before any public oon-
, troverzv had arisen It was, however, urged
, unon me that there was a genuine desire
! upon the part Of the policyhoders that
D thew he given the right TO vote for directors
, Therefore, notwithstanding my own
! views on the subject, and in order to meet
T this desire Of the policyholders, and to give
, time for the careful consideration Of the
! proper method Of bringing this about,
offered 10 place my stock In the hands Of
trustees for FIVE years to be voted in acoor-
/ dance with the directions Of the board Of
directors. could hardly have given
, stronger evidence Of my solicitude for
, the welfare Of the society This oheT
; was not accepted. The authors Of the
conspiracy made impossible demands.
Finally, although I was advised by
: eminent counsel that the power Of contrO
Of the stock could not be lawfully taker
away without the consent Of its holders
either by the board or by the Legislature
: 1 consented, so far as my stock interests
were concerned, that the policyholders
should elect twenty-eight Of the ifty-twc
directors Of the society. This concession
, was intended for the benefit Of the policy.
holders, but in practical effect a.
: then feared and now believe, 4
! was the purpose that any concessions