The Montgomery advertiser., 1905-04-04
LATEST DEVELOPMENTS
NEW MOVERS IN THE EaUITABLE's
 TROUBLES.
0mcial State investigation Begins. Senator Brackett's Resolution. Mr. Alexander Gives Out
 . Statement.

New York, April s.-Ths most i'm. portant development in the Equitable Life Assurance society's affairs today was the announcement tonight by Gov- | ernor Higgins at Albany and by Presi- dent James W. Alexander of the society | in this city. that the State superintend- ent of Insurance, Francis Hendricks. panys affairs.
 This was followed by the introduo. ton into the State Senate tonight of 6 resolution providing for a legisla i've investigation of the Equitable. The resolution was presented by Senator Brackett.
 The action by the State authorities follows a request made by MT. Alexan- der to Superintendent Hendricks by let- later letter, announcement of which was made last Saturday night. {. In an authorized statement tonight, the first Mir. Alexander has made since the State Superintendent was called into the controversy, the President Of the Equitable says that the investiga- tion by MT. Hendricks is now in prog ress. Its result" he adds, twill es- tablish 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 MT. Hyde last Saturday night. MT. Alexander's statement follows:
 Tt has been my settled purpose to avoid as far as possible discussion In the public press of the merits of any phase of the controversies now exist ing within the Equitable Life Assur- ance Society. It is properly matter of concern to me to avoid any express sion which will embarrass the Board of Directors in the discharge of It's du- ties or that will give rise to premature judgments on any matter affecting the society or any individual. l am con- firmed in this resolve by the fact that an examination of the society was asked for by me through 8 letter ad- dressed to the Superintendent of In- surance of February 27. 1905. This ex- animation Is now in progress. It's re- suit will establish the truth or falslty of many matters which are now being alleged on the one hand and conuo- verted on the other.
 "In a signed statement issued by the vice president of the society, James H. Hyde. on Saturday. April l. 1soo, cer- tain statements were made which l cannot allow to pass unchallenged He says that the charges which have been made against him have their origin Tn an effort by individuals to obtain con trol of the Equitable Society and its assets. On the part of myself and the other officers of the society who are associated with me in this movement, l desire to deny that our action Is tnhu- enced by any motive except desire to discharge our duty as officers Of the society.
 'Mr. Hyde further says that he mas exercised no power except with the presidents concurrence. In reply as- sert that MT. Hyde's usurpation of the presidents authority and his habitual action without the consent or the knowledge of the president of the so- ciety were among the subjects of the serious criticism against his conduct as an officer of the society.
 MT. Hyde's request for an examina- ton of the society's affairs by the superintendent of insurance must be viewed as an acquiescence In my course in this respect, which a few days ago MT. Hyde was disposed to regard as taken without authority"
 The announcement of an investiga- ton was preceded by a statement that an investigation by the superintendent of insurance on the application of the Crimmins policyholders' committee which had been set for tomorrow had been postponed.