New-York tribune., 1905-06-21
III. HYDE OUT OF OFFICE.
uY ALEXANDER RETIRED.
Resigspatioms of Riral Heads of
Equitable Are accepted.

following the announcement of his investi-
rs,,on of the Equitable Life Assurance So
.,.ty. Paul Morton announced last night that he
..s accepted the designations of President Alex
s,ser and james Ha1en Hyde, placed In his
,srSs when he elected chairman of the
soar3 Of directors. These designations take ef-
ssot Immediately
Wien President Alexander and Mr. Hyde re-
srned Gage f Tarbeil second vice president;
george T. Wilson, third vice president: w H
,ientyre. fourth vice president and Henry
ragers Winthrop. assistant secretary and fnan-
,isl manager, also rendered their designations.
vr NortoI, said that he had reached no decision
yet IS thern.
Mr. Hyde refused to talk about his resigna-
ZION lie had not heard Of Mr. Morton's an
nouncer1ent, he said. and could not comment
81 Mr. Hyde held a long conference last e<en-
nr with ". Z. Gulliver, OF his legal sta{.- at
Nj Gulliver's home. Samuel Untermyc- was
IN Boston, but returned at night, and Mr.. Hyde
got into touch With him Immediately.
M-. Untcrrnyer said thar the acceptance by
Nr Morton Of these designations
p,.se 70 hilr or to Mr.. Hyde It was only fol-
lowing OF: repeated requests from MIR. Hyde.
he said. thar his resignation was accepted
7-hen he sold his control OF the Equitable stock
lie had prepared his resignation vice-presi-
he be frees from the duties OF his Office. that
tho new interests might feel themselves abso-
iute:r unencumaered in the:- reorganization OF
The management
Cne stipulation made by Nj. Hyde when he
so.d his stock control. AIr. Untermyer said.
tat he should resign. an5 that his resignation
shoqld be accepted. Mr. Hyde still holds a large
bloc; of stock III the Equitable, and II is under
stood thai he Will remain in the directorate
Friends of Mr. Hyde said last night that as he
was free now from official connection with the
Equitable he would be able to defend himself
against all the charges Of recklessness and mis-
management made against him He had felt
they said that while he was officer of the
society it was not proper for him to make reply
but lie had been eager for the charges to be
r1ade in some official way that he might make
public reply. The investigations made so far
had all been star chamber affairs. it was sald
giving him no opportunity to get his defence pc
fore the public He would defend himself now.
his friends said-in fact, il was that he might
make such d defence that he had demanded that
Mr. Morton accept his resignation.
President Alexander could not be seen HIS
son-in-law John w. Alexander. said that ne
was too ii to be disturbed, but that he would
make no statement about the acceptance OF his
resignation.
r.
accepted these designations. would give no rea~
son for his decision. He said that preparations
were under way for his own examination of the
fzau{tabIeA A person who is in close touch with
the new interest in the Equitable suggested
that sfr. Morton felt the retention of President
Alexander and Mr. Hyde would inconvenience
him in the investigation he about to make
and that it would be much better for the Equf
table to face the reorganization without them
in office Mr.. Morton had learned enough. he
said to convince him that there ought to be
honest. thorough investigation in the inter
ests of the people who were TO try to reorganize
fhe Equitable. All previous examinations had
been from the outside" this one would be
from the inside
Mr.. Morton said of his investigation: 81
would like it to be understood that this investi-
CATION by outside firms OF chartered account
ants has been undertaken entirely at my own
instance. The preliminary steps are already
under way
Explanations were as numerous as the inter-
ests in the Equitable. 1t was said that Mr.,
Morton wanted To discount any action which
might be taken against these officials by the
Attorney General after the Hendricks report had
been submitted. by showing that Mr.. Alexander
ana Mr.. Hyde longer had any connection
with the society. Another suggestion that
Mr. Morton believed the Hendricks report would
not show tbs real conditions in tha Equitable.
and as he had Information which made him be-
lieve the retention OF Nj Hyde ard Mr.. Alex
ander would be wrong. he had accepted their
designations,
The Hendricks report, it announced yes
terday would be made public tomorrow. 1t will
be fled in Albany, and will ne given out there
ard here simultaneously. The report will not
be submitted 20 the legislature at the special
session. i will be a document for Governor
Higgins
The departments investigation is being
iinued oy Chief Examiner Vanderpoei. aided by
II E Drisool SIR Hendricks's counsel Neither
ter6ent Hunter in the city yesterday.
Justice Creenbaum. in the Supreme Court,
vacated an order for the examination of Presi-
dent Alexander, James Hazen Hyde and Gage
Z Tarbell. obtained by Herbert G. Tull, policy.
holder. who sued the Equitable to determine
whether the stockholders or the policyholders
owned tho ss0.o0o.00O surplus Mr Tulls law
yer sought 10 examine the officers and their
account books that he might amend his COM
slaint in the original suit
Argument the appeal taken by the EQui-
table from the decision Of Justice Maddox IN
fhe Lord suit restraining naturalization was 70
nave teen heard In the Appellate Division II
Brooklyn. The lawyers both sides. however.
signed q stipulation that the case should go
20 the September term. 1t is thought that
she appeal VIII ee dropped before then
ND gYEkTnDTTE CC pFDnRT