Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1905-06-04
CAUSED A CONNECTION
New York Financial Circles Have
Not Been 80 Stirred
In NUMBER OF YEARS
One Report Has n That Mr.. Hyde
faVors Equitable Assisting Gould
Extend His Railroads 10
the Pacific Coast.

New York June s.--Not since the
Great Northern corner OF four years
ago has there been 40 much excitement
IN financial circles as there existed
Saturday ~ the result OF Fridays de-
yelopment IN tho Equitable Life As
5urance s'cietys affair stirring
contest for control has been expected.
but the vehement debate In the direc-
tors meeting. bitter character OF de-
tense made By James b. Hyde and res
ignations Of Messrs Frlck. Hartman
and Bliss from the society's directo-
rate have created a situation wholly
unforeseen and indicating a new align
ment Of forces IN high finance aston
ishing to the general public. Accord
Ing 10 the Herald. Mr. Frick IN hand
Ing IN his resignation said he never
again would cit as director In any
corporation In which Nr. Hyde was
also a director The charge made by
Mr. Hyde that an effort had been made
by Mr.. Hartman 10 take control Of
the society away from him was point
ed TO IN connection with reports cir
eulated Friday might that one reason
for attacking SIR. Hyde was that he
was friendly 10 George J Gould. and
the other interests desired to prevcnt
Mr. Gould from obtaining any assist
ance from Equitable funds IN extend
Ing his railroad lines westward 10 the
Pacific coast and eastward TO the At
lantic. According to these reports the
Union Pacific and Pennsylvania rail
road Interests and Mr.. Frick Joined
together To oppose Mr.. Gould
Mr. Gould attended the conference in
Mr.. Hydes office Friday and consld
erable surprise was expressed when II
was found STR. Hartman. who up "a
that time. had been counted upon a. a
Hyde supporter. was not present a
seiSi-offclal statement has been made
that Mr. Gould expects 10 have hts
lines finished TO san Francisco bay
before June I. 1907.
What wall street and the general
public discussed with the most inter
-st was the question a. 20 what l. 10
be the next step taken. The selection
of a new chairman OF the board Of dl-
fectors. who II 90 be- named by the
committee within the next few days. l.
awaited with great interest. The prom
ise has been made that he II 20 be a
man of national reputation. noted for
business ability and probity. and 20
him Is 20 be intrustcd the task OF en-
forcing economics and making such
other changes a. may be- deemed nee
cssHry 90 correct the present business
methods ~ the society u o. expected
the chairman viii be elcctaed by the
board 40 its meeting next Wednesday
Another point 81 absorbing interest
was the plan 90 be pursued 90 take
over Mr Hydcs majority holding of
stock. through which be has power. at
present. to elect an the directors of the
society Mr. Hyd' acquiesced IN The
decision that he be requested 90 divest
himself OF the control OF his stock
within three months on terms satisfI,-
tory 20 himself and the society At
tcution was drawn 20 the fact that Hyda
iu agreeing 20 this resolution. declined
90 give any pledge az 20 his action in
the matter.
Wall street discussed also the action
Of JACOB II schiT head Of the firm of
Kuhn. Loeb A. Co. IN defending See
end Vice President Tarbell Mr schin',
nrm has acted for years In close rela .
ton with Mr.. Hartman.