The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-05
Consented Reluctantly

with gross breach of trust to nv
father and me-"
Consented Reluctantly
Mr.. Alexanders contribution to the
history of the controversy is his let
ter to the state superintendent of in
surance defining his position and ac-
quiescing in the compromise plan for
the naturalization of the society. He
declares that his consent was given
with reluctance because he felt that he
could not take the responsibility of re-
jecting even that measure of control
by the policy holders.
On behalf of Mr.. Hyde a statement
was given out with reference to this
letter which charges that Mr.. Alex
andeE'S action in this matter was a
breach of faith.
Second Vice President Gage E. Tar
bell is the target of an open statement
given out by Alexander S. Bacon, coun-
sci for certain policy holders. This
statement declares that Mr.. TarbelI is
the real leader of the Alexander forces
and brings up the charge that Mr.. Tar
bell, just prior to the beginning of the
present controversy, sold back to the
Equitable for $4,000 all his interests
in renewals or future business.
Hyde's AvowaI
In Mr.. Hyde's letter to the directors
he says he was called into conference
with President Alexander on Feb. 8,
when but two business days interviewed
before the directors were. to meet to
elect officers and told that "a large
number of officers of the Equitable So
ciety under his leadership and initia-
tive had signed a memorial addressed
to the directors, demanding that steps
be taken which would result i'm placing
he ,anIicxy hnldarc in Of he
poration to the exclusion of the stock
control"
The letter says he was also given an
opinion to the effect that it was the
duty of the officers TO bring this mat
ter before the directors together with
paper signed by majority of the
officers charging Mr.. Hyde with per-
sonal unfitness for the Office of vice
president. The letter continued:
Mr.. Alexander demanded my immedi-
ate consent that my control OF the COM
pany through a majority Of its capital
stock be at once relinquiShed; that i
should consent that the functions OF the
stock should be superseded under a re-
organization through which the vote of
the policy holders by proxy should select
management to control the affairs of the
company and that should personally re-
sign and withdraw absolutely from any
connection from the control or manage
ment OF the company, accompanying these
legged defects on my part in official and
personal conduct, impressing upon me that
the movement against me personally had
been so effectively organized as to be re-
siStleSS. The movement had been con-
Quoted in secret. So far as 1 have been
able to ascertain no one Of the fifty-two
directors except the officers who had been
connected with its initiation were aware
of any such movement or of any of the al
legged grounds upon which it was con-
Quoted Communication of knowledge of
1t to me was so limited as to offer me
the least possible opportunity for refec-
ton and consultation upon a situation in
volving not merely the major part of my
fortune but my destiny and reputation.
Ignores Personal Indiscretions
Mr.. Hyde further said that the
movement was conceived and guided
by Mr.. Alexander secretly, so far as
he and his associates in the directorate
were concerned, and that signatures to
the charges had been secured from off,
GERS and heads of departments with
whom he had not been in contact. Mr..
Hyde continued:
I shall not in this statement undertake
| TO discuss or palliate any personal indis-
cretions which may have given occasion
/ for just criticism, but have no hesitation
\ In contrasting all OF these with the at
| titude which have been taken in this mat
| ter by J. S. Alexander, a man OF mature
years of wide business experience and of
such abilities that ii Is impossible that
4 he should have misconceived the solemn
] duties devolving upon him under the in
strument Of trust executed by my father.