The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-05

TO the time Of the late Henry b. Hyde, the
founder Of the society, whose stenorapher
be was. and that Williamson handled the
foreign business Of the Equitable from
the Office Of Mr. Hyde, at his home, West
FOrtieth street.
Cbl That the Cambon dinner, the expenses
Of which were said TO have been $4,000,
really cost only 1000. and that this dinner
was really a business venture and not
society function in any way. There was
not a society man there. All the guests
we're selected because Of their prominence
In a business way.
(cl That MIR Alexander had as much 70
do with getting up the affair "a any one
else All five OF the Ale1anders were there
All the board OF directors were invited,
aud the outside agents Of the society Invited
many Of the guests. who came with the idea
Of helping the business OF the company:
IL was a very delicate matter, and II would
have been a very dlscreditable thing for
the exact situation 10 become public, but
that Il was President Alexander who be-
smirched the society by bringing II out.
LETTER FROM PRESIDENT ALEXANDER.
The hyde people referred yesterday, TO
oorroborate their assertion that Mr.. Alex
ander had acted disoyally and in bad faith,
TO a letter written by him on March 81 TO
the Superintendent Of Insurance. This
letter has to do with the amended charter
Of the society which Mr.. Alexander, along
with the other members Of the mutuallza-
ton committee Of the board Of directors,
recommended 20 the board for acceptance
and which was sent with The unanimous
consent Of the board TO the Superintendent
Of Insurance for his approval. This was
OF course the amendment required 10y the
naturalization plan on the % 70 "a basis
with the four year provision. In his letter
TO the Superintendent Mr., Alexander says
among other things;
i was convinced that the concession
embodied in the committees report and
subsequently In the amended charter was
all that could be obtained without a oontro-
versy which might have very serious re-
suits / therefore reluctantly aoQuiesced
In the report. / acquiesced in the
committees Recommendation, believing and
stating in substance that ! could not take
the responsibility. IN view Of the committees
opinions and the probable action OF the
hoard OF rejecting that measure Of control
and participation which 1t secured to the
policyholders.
Mr.. Alexander's letter TO the superin-
tendent concludes
u cannot say therefore that the pro-
posed amended charter IL satisfactory TO
me, although | acquiesced in the report
under the circumstances TO which have
referred
Referring 70 the reports that the hyde
| party was going TO force Mr.. AleHanders
resignation, a representative Of Mr.. Alex
ander said last night.
Threats Of this sort are undoubtedly
being made but they won't amount 70
anything Mr. Hyde's people don't dare
let Mr.. Alexander go
This man minated that Mr. Alexander
was too essential 20 the business Of the
society to make II feasible even 20 gain
what might he regarded from the outside
as q victory 20 resort 10 this drastic plan
Of campaigning.
MERCANTILE TRUST SETTLEMENT WITH
OpELL
That there might be at least one inter-
es,ing disclosure incidental 10 the main
issue In the investigation OF the society +
Affairs was a report that got a good deal
Of cTedence in Wall Street yesterday. This
report was TO the effect that the examina-
ton Of the Mercantile Trust Company's
books, II the investigation extends that
far may disclose the amount paid TO Chair
man b. b. Odell Jr. in settlement Of his
shipbuilding suit. The majority Of the
stock in the Mercantile Trust Company il
held by the Equitable society, belongs in
fact TO Equitable policyholders. and those
who heard yesterday that the examination
Of the society's Affairs might extend to the
Mercantile company expressed the opinion
that It would be interesting indeed 10 know
definitely what share OF Odell's shipbuilding
suit money came from the pockets Of policy
holders,