The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-17
SIDE PROFITS IN EQUITABLE.
HYDE-ALEXANDER DUEL NOW
REACHES ISSUE or FACT.
Hyde's Friends Say He WIN Establish
That Alexander shared In Under.
wTltinE-AleXander Men Say They'n
COMPUTE Him. List Of kin" Salaries.


That Alexander shared in Under.
wrltlnE-AlcXander Men say Theyn
COMPUTE Him. List Of kin" SALARIES.
Notwithstanding james W. Alexander's
denial Of MIR Hyde's fo1ra al assertion that
Mr.. Alexander had TaTticiI ated equally
with him in all deals Of the james II.
Hyde and a,sociates" underwriting syn
db ate, persons representing MIR. Hyde
continued Yesterday to declare that the
statement OF the soCiety's yiCe-pTesicent
in this matter wa absolutely true and
correct MIR, Alexander, they suggested,
must have misunGerstood Mr.. Hyde's
assertion to Chairman II. {. Prick Of the
-ociety's investigating committee. They
could not conceive, they said, that he would
have denied II under any other circum-
stances.
Mr. Hyde himself, although he appre-
ciated the position in which he was placed
by MIR Aexander's denial, refused 70 reply
personally yesterday. II was explained for
him that he desired TO have time to consult
the records OF the society and other data
not available on Sunday. That he would
be able II necessary to prove the truth
Of what he had said about President Alex
anders participation in the undertakings
was asserted by his friends. who said that
not only had President Alexander shared in
the profits of the underwriting syndicate but
he had, they asserted. deposited a check,
just as Mr.. Hyde had, with the treasurer
Of the com pany covering what he con-
sidered 70 be the amount made by him in
this Transaction, which check was TO re-
main with MI Hyde's in the hands Of the
treasurer pending the decision by the
society az 70 whether or not the funds ought
TO be turned into the Equitable treasury.
Although Mr.. Alexander had an equal
interest with Mr. Hyde in the underwriting,
IL was said. he reckoned his profits on the
transactions, Il was asserted, at about
$50, 900, that being the amount Of the check
alleged by the Hyde supporters TO have
been put on deposit.
Mr.. Alexander refused yesterday to add
ANYTHING 70 the general denial made 10y
him Saturday night. His friends, how
ever, when they were informed Of the con-
tlnued assertions Of the truth Of the accuse
ton, made II known that II MIR. Hyde at
tempted 70 put himself on record again In
the matter President Alexander would
esta blish the truth Of his denial conclusively
before the public.
IL was denied for Mr.. HYDE yesterday
that the reference In his letter 10 his deter
minAtion 20 make no further concessions
from his legal rights had anything to do
with the concessions which he has already
made as regards the reorganization Of the
executive committee Of the board OF direC-
tors MIR Hyde, II was said, would stand
by the things already agreed TO by him,
but further than that he would not go.
Hyde supporters yesterday cited as
fair sample Of the sort Of underwriting
transactions engaged in by the james II.
Hyde and Associates" syndicate the under
writing Of the Japanese war bonds. This
It was said, was the last transaction in
., h. az 10 4 aVaAf
society. II was asserted, has made some
thing like 10 per cent. profit on the trans
action The syndicate IL was stated,
made a meagre ? per cent. Kuhn, Loeb
4 Co, Jacob II. Schiff's firm, was one Of the
biggest underwriters of these bonds.
The true meaning Of the paragraph
IN the letter recently made public by Chair
man Prick Of the investigating committee,
calling on President Alexander for com
plete information in regard TO kinship n
the society, was explained 10y man familiar
with the society's affairs Yesterday. James
W. Alexander, he said. draws an annual
salary OF 10000 from the society; William
Alexander, SO,OOJ as ecretary; Henry Alex
ander Of the law firm Of Alexander Colby,
Equitable attorneys, $4,000 q year a. a re-
tainer only; Fred Alexander Of the broker
age firm Of Alexander Thomas Davies,
81, OpO: DR.. Pell, a brOther-in-law Of James
". Alexander, $4,000 and a Mr.. Glchrist,
a nephew Of the society's president, 5000
yearly.
Judge Francis Scott Of Paterson, y. j.,
who, as announced in yesterdays papers,
intends TO bring legal acton against the
Equitable in behalf Of tho Iolcyho Gcn
explained yesterday that It would not pe
an action 20 determine the rights Of the
policyholders or the stockholders to the
socictys surplus, but a suit TO determine
simply whether or not the funds Of the
society have been mismanaged by the Off
cers and director, asalleged. and will be
Il A. orb
Court il other pocyholier- support him.
Such an action for an accounting or the re-
turn Of funds improperly alienated may
be brought 10y any creditor, hut II sus-
pension or removal of officers Ia sought
the Attorney-Cieneral must bring II.