Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-04
Important Developments In the
Equitable Life Assurance
Association Affairs
STATE WILL TAKE A HAND
President Alexander Says the Investi-
cation Was Ordered at His Request
and That Hyde's Inference That He
Desired 1t Was False - Important
Testimony Expected.

I
the announcement last night by Gov
ernor Higgins at Albany and by presi-
dent James w. Alexander Of the So
ciety in this city that State Superin-
tende.nt of Insurance Francis Hendrick
had begun an investigation Of the COM
panys affairs.
This was followed by the introduce
ton in the state senate last night of a
resolution providing for legislative
Investigation Of the Equitable. The
resolution was presented by Senator
Bracket.
Mr.. Hendrick returned to Albany
Sunday night after several days spent
In conference with those interested IN
Equitable matters in this city. Ihe
governors announcement came less
than twelve hours after the superin-
tendent had reached his Albany office
and was followed by a formal an
nouncement from Mr. Hendricks office
In this city to the same effect.
This action by the state authorities
follows a request made by Mr.. AleXan-
der to Superintendent Hendricks by
lette.. February 81 and Mr.. Hyde IN a
later letter, announcement OF which
was made last Saturday night.
AIexander's Statement.
In an authorized statement last
night the first Mr.. Alexander has made
since the state superintendent was
called into the controversy. the presi-
dent Of the Equitable says that the In
yestigation by Mr.. Hendricks is now
On progress. cts result" he adds, will
establish the truth or falsity Of many
matters which are now being alleged
on the one hand and controverted on
the other" He also takes occasion to
deny some of the statements made
formally by Mr.. Hyde last Saturday
night Mr.. Alexanders statement fol-
lows:
'It has been my settled purpose to
avoid as far as possible discussion
on the public press of the merits of
any phase Of the controversies now ex-
listing within the Equitable Life AS
surance Society. It is properly mat
ter Of concern with me to avoid any
expression which will embarass the
board OF directors in the discharge of
It's duties or that will give too prem
ature judgments on any matter af-
fecting the society or any individual.
Lara confirmed in this resolve by the
fact that an examination Of the So
ciety was asked for by me thru
letter addressed to the superintendent
OF Insurance on February 81, 1905. This
examination Is now in progress. It's
results will establish the truth or fall
sity Of many matters which are row
being alleged on the one hand and con-
troverted on the other.
Challenges Hyde.
'.In signed statement issued by the
vice president of the society, James II.
Hyde, on Saturday, April /, 1905 GER
tain statements were made which I
cannot allow to pass unchallenged. lie
says the charges that have been made
against him have their origin in an
effort by individuals to obtain control
Of the Equitable Society and it's as
Gets. On the rart Of mysell and the
other officers Of the society who are
associated with me in this movement,
/ desire to deny that our action is in
fiuenced by any motive except de-
sire to discharge our duty as officers
of the society.
'.Mr. Hyde further says that he has
exercised no power except with the
presidents concurrence. IN reply, L
assert that Mr.. Hyde's usurpation Of
the presidents authority and his hab-
itual action without the consent or the
knowledge of the president Of the So
ciety are among the subjects Of seri-
GUS criticism against his conduct as an
officer Of the society.
"Mr. Hyde's request for an exam
ination of the society's affairs by the
superintendent of insurance must be
viewed as an acquiescance in my
course in this respect, which, a few
days ago, Mr.. Hyde was disposed to
regard as taken without authority.
'c[ have thus far made no denial of
the frequent assertion that as one of
the trustees of the Hyde stock am
vested with the voting power upon 1t.
The trust expressly provides that no
vote shall be cast upon the Hyde
shares at any election of the society
by the three trustees, except for a
person approved by Mr.. James H.
Hyde, who is also one of the trus-
tees
The announcement of an investiga-
ton was preceded by a statement that
the hearing before the superintendent
Of insurance on the application of the
Crilnmis policy holders committee
which has been set for today, had been
nostpOned