Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1905-06-16
filiated companies In Manhattan and the
Bronx are corporately known.
Victory for Hyde Faction.

Victory for Hyde Faction.
The selection of Mr.. Morton in the
opinion of those who have followed
events, is in the nature of compromise
and victory for the Hyde faction. In
any event the outcome was seemingly a
surprise to some of the members of the
so-called Alexander forces Mr.. Morton
declined to discuss the meeting, except
to say he had relinquished the position
as chief of the Metropolitan Traction
company aud its proposed subway extern
sion, and that he had accepted the EQui-
table Craftsmanship.
Story of Equitable's Trouble.
Mr.. Morton's election is believed to
mean the solution of the controversy
which began between the Hyde and Al
exander factions in the Equitable So
ciety some six months ago, and which
became publicly known in February of
this year. There are charges OF irregu-
larities and gross extravagances on|
both sides, the fight at times raging with
such bitterness as to threaten the vel
fare of the institution, which numbers
some 100000 policyholders, with assets
in excess of $4OO,0o0,0O0 and a surplus
estimated at $SO00O,0 00 Chief among!
the charges preferred by Vice President
Hyde was that President Alexander, as
a trustee of the Hyde stock, was desir-
Gus of Wrestling control from the estate.
On the other hand, it was charged by
Mr.. Alexander that Mr.. Hyde and hisI
friends were conducting the affairs OF
the society without regard for the well
fare of the policyholders 1t was Mr.,
Alexander's contention that the wellbe-
ing of the society demanded its mutal-
ization, that is an actual voice by vote
in the affairs of the society by every poll
icyholder. Mr.. Hyde agreed to the plaQ|
of mutaltzation, and in the meantimq|
suits against the society were begun tn|
this and other states resulting In paEl-|
GUS forms of litigation. The plan to mu-|
tualize the society was recently defeated
or stopped by decision of Justice Mad
dox, of the supreme court of this state
One of the disturbing factors through.|
out the situation was Second Vice Pres-|
ident Tarbell who, as head of the agency!
division, melted a movement against|
Vice President Hyde.
There We're also charges Of "syndi-|
cate operations" made by President
Alexander against Mr. Hyde and soma!
OF his associates on the board Of d.
rectors of the Equitable, and in reply!
to this Mr.. Hyde stated that MI,
Alexander had participated in the OBJ
erations. AS result of these reyelsrI
tons, an investigating committee was
formed in the Equitable directorate,
headed by H. O. Prick The commit,
tee presented voluminous report,
which criticized practically all the
leading executive officers of the so-'
ciety The report was rejected, where's
upon Mr.. Prick and his associates on
the committee, with the exception q
Brayton Ives, resigned from the d.
rectorate, as also did half doaeu
others. The proposition to elect Z
chairman of the board of directors
with plenary power to organize the so-
ciety in all its branches was then de-;
termined upon, and resolutions were.
adopted calling for complete change
of policy in the executive and finan.
cial department. Mr. Morton's selec.
ton under the conditions named win
affect these reforms.