The Washington times., 1905-06-03

NEW YORK, June 3,-Astonishing
statements are made in the report OF
the Friek committee. giving the COM
plete results of its Investigation Of Pres
fdent ]. II. Alexander and Vice Presi-
dents James II, Hyde and George E.
Tarbell. OF the Equitable which is made
public today.
The report condemns these officers
with much severity as to make. their re-
rncYal from office imperative had the
board OF directors adopted IT,
The committee finds Hyde guilty of all
the charges preferred against him by
President Alexander
1t condemns the syndicate transactions
by which he sold securities TO his own
company. It condemns his use OF the
society's funds for the famous CANTON
dinner and scores him for other irreg-
Ular transactions
II finds President Alexander guilty of
gross neglect of duty. and that he know
ingly permitted Vice President Hyde to
engage in vicious emthods.
It declares that Mr.. Alexander par
ticipated with Hyde in the profits of
the Hyde syndicates, and that he ought
TO restore these profits to the society.
It refers scathingiv to the astonishing
increase Of the salary OF Miss Anna L.
Amendet. Vice President Tarbeirs sec
retary. from 81, 200 TO s12, go a year, in
five years.
The rejected report covers thirty-eight
printed pages.
Shortly after the report had been
made public 1t vas announced that the
rival factions had agreed upon Robert
T. Lincoln as chairman of the board of
h xxyiTf l.
not known.
Evidence Reluctantly Given.
After reciting the history OF the COM
pany and the manner in which it is
governed, the report tells of the evident
reluctancy of the officers to come for
ward with the necessary information to
make the investigation successful
April 8 a letter was addressed to Presi-
dent Alexander, asking for specific data
embodied in eleven different requests.
April % the committee viewed with sur
prise and regret to this date none of
the information asked for had been re-
ceived -
Mr.. Hyde finally sent a communica-
ton covering all transactions of James
II. Hyde, and associates by which he
and several other directors made large
profits of securities which were after
ward purchased by the company. At
the same Mr.. Alexander addressed
letter to the committee, IN which ac-
Guessed Mr.. Hyde OF grave Irregularities
in his official capacity OF first vice presi-
dent
These letters covering largely matters
already made public during the contro-
yersy are given in the report in full.
Alexander Encouraged Hyde.
In part the report says: -
From letters of IIr. Alexander to
Mr.. Hyde which the committee has ex-
amined, the committee finds that he
hattered and encouraged Mr.. Hyde in
methods wholly vicious aiId tending TO
in the administration of the
society's affairs
THE total salaries paid to employees
of the presidents office" the report
says, has increased 4S per cent since
1850: of the vice presidents office 134 per
cent, and of the second vice presidents
l26 per cent The total office pay roll
OF the society increased from S770.2S2 in
1860 TO 81 III ,501 in 1904. or SO per cent
AS compared with this the total income
of the society increased but So per cent
from 1900 to 1904. "
Under the head of "entangling alli-
ance with auxiliary committee the re-
port discusses the society's Interest in
banks and trust companies and says
that judging these investments either
on general principles or on specific re-
suits. their wisdom is 'gravely question
able.
"a Sort of Moral 0bliqueness."
The report continues: "Tht general
.,f =,
verted from is true course it Is hardly
to be wondered at that there is found
throughout Its official personnel a sort
of moral obliqueness-a condition where
personal gain seems to be at times the
paramount idea