New-York tribune., 1905-06-07
OFFER FOR HYDE STOCK.
Conferences to Select Chairman of
Equitable Board.

r--sbrne from Cleveland. Ohio. saying that If
uas quietly and confidently reported there that
governor Herrick representing the Gould inter-
ests had offered to buy the Hyde holdings of
T-1uitable stock, and it was believed the offer
sad been accepted.
such action would be a surprise to President
Alexander and his advisers, It was said. and
uould be most unwelcome to them, as it would
foreshadow a broad reorganization of the Equi-
table the next annual election. George j.
Gould, one of Mr.. Hydes closest personal friends
and business associates is at the head of the in
terests which have been trying to acquire the
stock, and Governor Herrick himself naturally
would be in the syndicate.
Mr.. Gould was in conference with Mr.. Hyde
and his lawyers last night. They were under
stood 20 be mapping out the plan of campaign
for to-days meeting of the directors. in which
such move. entirely unannounced before,
would play important part. Winslow S.
Pierce. considered Mr.. Gould's right hand man,
has been in conference many times lately with
Mr. Hyde
II the transfer Of the stock actually
complished Governor HerrIck's part in the
transaction need not interfere at all with his
becoming chairman of the board, it was said.
He would be representing large interests in the
society, yet any reorganization would permit
competent insurance man to take office under
him TO watch the practical part OF the societys
business.
Mr Hyde. some of his associates on the
Equitable board and Mr.. Gould and Governor
Herrfck have been associated in business enter
prises for several years. Governor HeTrick was
In the Wabash-Pittsburg syndicate with Mr..
Gould Governor Herrick, Winslow S. Pierce,
who has been in conference many times recently
with Mr. Hyde Howard Gould and Alvin W.
Krech president of the Equitable Trust Com
many were together in the West Virginia Cen
+ral and Pittsburg syndicate in 1902. which was
g part of the Gould transconttnental railroad
enterprise. Governor Herrick. Mr.. Hyde, Cen
eral Louis Fitzgerald and Mr.. Gould all were in
terested IN the Western Maryland syndicate.
MORE DIRECTORS LEAVE. BOARD.
John A Stewart, who was one of the nomina'-
,ng committee, announced that he would resign
from the board before the next meeting. A ).
Cassatt's resignation received. The resig-
nation of John Sloane also was announced Mr..
Sloane is Ill at Lenox. it is understood d. u
Mills. according TO a report. announced that ne
would resign before the meeting. and would not
attend II hut last night he told a Tribune re-
,,or+er that he had not decided and would not DO
so until to-day.
Henry c. Frick. according to g report has
had an offer OF place as director OF the New
York Life Insurance Company. Mr- Frick was
not In town yesterday. The New-Sork Llie
held an election few weeks ago. at which
umplete board was elected
EFFORT TO SELECT A CHAIRMAN.
Interest In the situation centres in to-days
meeting Of the directors. Though the action OF
the board will be hampered by the refusal Oh
most of the nominating committee to serve ana
the numerous designations from the directorate
3 strong effort will be made TO select candidate
bvf he of
man restore public confidence in the Equitable
which all parties agree now. is suneflng ue-
ueudously from the factional fights.
Conferences were held last night by the lead
e-s Of both sides and their lawyers to cons'oer
the men available for the place. Judge Gray Oh
Delaware is named prominently, although IL Is
not known if he would take the office even WITH
fits salary of at least 100000 Before any man
Is settled on his name will be submitted 10
Superintendent Hendricks. and many OF the
directors feel that no man should ne choseh
without the superintendent's approval
A conference of the Hyde lawyers was held
at Mr.. Hyde's home after Samuel Unternyer
had been with E H. Hartman. What signih-
cance attached to Mr.. Untermyer's interview
with the ex-director, who Is known 10 De eA-
trennely bitter against the Equitables present
control could not be ascertained- Speculation
centred round a discussion OF the disposal of
the great amount of stocks of the Hartman
enterprises which the Equitable holds. herller
Mr. Unterrnyer. Charles E. Hughes and John
Quinn. of Alexander & Colby, held long con-
ference regarding the peace plans for the meet
ing.
An unusually large attendance is expected at
this meeting. Between thirty and thrty-five
directors including every who is not Ill
CT on the list of designations. will attend the
officers think. Mr.. Hyde believes that he is in
control of the situation Yesterday was his
twentv-ninth birthday He smiled as blfthely
Is If he never had heard Of naturalization or
enforced disposal of his stock. The programme
laid out is 10 have the board act on the resigna-
tons, then amend the bylaws to create the posi-
ton Of chairman of the board and then get TO the
discussion of the candidates.
Conservative directors ss'1 that they ex-
pected no more designations than those recorded
Yesterday but among certain element 1t is
thought that others will come at this meeting,
among them those of James ]. Hill and, perhaps,
erayton Ives
COMING REPORT. OF Mr.. HENDRICKS
Almost overshadowing in interest the question
af the selection Of a chairman is the probiem
Presented by the report of Superintendent Hen
drickS which IS soon to be made public This
reIoN persons who have been in close touch
With the investigation predict, viii be as sweep
Ing and drastic as the Frick report, although the
Insurance Departments investigation has peeh
made along slightly different lines. recommend
Ing the removal of some of the othcers ana
Scoring the syndicate transactions.
A close friend of Jacob II. Schin said yes
terday that undoubtedly the report would show
Conditions which would necessitate vigorous
Reorganization Of many departments in the So
nv ba