Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-04-05
In Equitable Life Assur.
ance Society Fight.
Pres. Alexander Charged With
Breach Of Trust.
HYDE in Preparation To Stand by Allie.
cations.

.,a1 letters mat nave ieTetoipTe Ueeil
carefully Kept secret, were made public.
Farther interest was aroused by a per-
cistent report, emanatirg from an ap-
narer tly reliable source, and so far not
denied. that Vice President Hyde and
his friends in the society had decided
IN assume tn. aggressive. According to
the report, the Hyde party viii force
lanes W. Alexander and Gage E. Tar
he'll. to retire from the presidency and
second vice presidency Of the society
at the meeting of the board of directors
IN he held next Thursday. This report
was strengthened tonight, by the fact
that both parties 10 the controversy
gave out certain letters and statements
bearing on the questions IN dispute,
Mr.. Hydc's contribution was the letter.
which he wrote to the Equitable direc-
tors on Feb. l.. when the fight for
naturalization first came officially be-
fore the board. At that time, the letter
was carefully guarded and only it's
general tenor was allowed to become
known. The letter IS q lengthy history
Of the Equitable and Mr.. Hyde's posi-
ton under tn" terms of his fathers be-
bcduests and in it. Mr. Hyde formally
charg.s President Alexander with
gross breach of trust to my father
and to ne.
Mr.. AleAanacr'S contribution to The
history of the controversy is his letter
TO the stale superintendent of inSur-
ance. defining his position and acquiesc-
irg in the compromise plan fer tie
naturalization of the society. 1t is in
teresIing in that ne declares that his
consent was given with reluctance be-
h., COLI t..f f1lyI he,
sponsibiity of rejectirg even that
measure of control by the policy hold
erS.
On behalf of Mr.. Hyde a statement
was given out with reference to this
letter which charges that Mr.. Alexan-
,,or's action in this matter was Il breach
OF faith.
Second Vice President. Gage F. Tar
bell. ls the target of an open statement
given out oy Alexander :. Bacon. coun-
sci fer certain policy holders. THIS
statement declares that Mir. Tarbell is
the real leader of tn. Alexander forces
and brings up the chargr that Mr.. Tar
bell. just irinr to the beginning of the
present controversy. soil back to tn
Equitable for the sum of $4,000 all his
intert SITS in renewals ~ future BUSH
ness.
In Mr.. Hyde's icttor to the directors
he says he was called into conference
with President Alexander on Feb. ?.
when but lHr business days interviewed
before the directors wrra to meet II
their office ard was told that "a large
number Of officers If tha Equitable So
ciCty. under his tAlexanIer's) leader
skip and initiative. had signed a menu
Orial address to the directors demand
Ing that steps be taken wl;ich would ra-
salt in placing the policy holders in
control Of the corporation to the cxclu-
siun of the stock control"
The ietttr says he WAS also given q
legal opinion 10 the effect that it WAS
the duty of the officers to bring this
matter before the directors. together
with pa""r signed by IL r.ajorty Of the
officers charging Mr.. Byd" with per-
sonal unfitn, IS for TIL. office of vice
president. The letter continued:
Mr. Alexander demanded my imme-
diate consent that my control of the
company through the ownership of a
majority of its capital stock be al
once relinquishcd; that | should con-
sent that the functions of the stock
should be superseded under Il re-or-
the policy holders by proxy should Sc
lect management to control the af-
fairs Of thu company, and that | should
personally resign and withdraw alb
soutely from any connection with the
control or management of the COM
rany. accompanying these demands by
threats of exposure of improprietaries
or my part. and personal official con-
I'M y, ~
movement against me personally hac
hsen so effectively organized as to be
rtsistess. RI movement had bee,
conducted i'm secret. Communication 81
knowledge of it to me was so timed as
10 offer me the least possible Oppor-
unity for reflection and consultation
upon a situation involving not merely
the major part of my fortune. but m,
destiny and reputation
Mr.. Hyde further said in the lette
mat the movement was conceived an'
guided by Mr.. Alexander secretly 81
lar as he and his associates in the di
rectorate were concerned and that tn
signature 20 the charges had been Sc
cured from officers and heads of de
partmcnts with whom he had not beef
Ill contact. MIR. Hyde continued:
'hdii HOt Ill tlIS StdtSIHcut NifuCi
take to discuss or palliate any persona
ihdlscretions which may have given oc
casion for just criticism; but l have n
hesitation in contrasting all of thes
win attitude which had been take
oh This matter by Mr.. James W. Al
eAahder. man of mature years,
VIDE business experience and of sue
nanits that it is impossible he shout
nave miscUnceived the solemn dutie
ueNolVed upon him under the instr,1
"'en' OF trust executed by my father.
lie then discussed the deed of trus
VI .he late Henry Is. Hyde. his fathe
u''uer which a majority of the stoc
way left to him. with Mr.. Alexande
uenefal Fitzgerald, Cater succeede
says:
Mr. Alexander is a director OF Tn
s tu'taole Society and president of ths
,S solely by the vote of the stoc
Ill to his keeping by my fatne
u ny virtue of the trust and COM