The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-12
ATTACKS SUPT. HENDRICKS.
he DENIED US ABEARIN6, SAYS
EDWARD W. SHEPARD.

Charles ". MOrSe InterVehes ~ Another
Plaintiff IN Equitable Injunction suit
and Trustees Hyde and Mcintyre OBJ
pose Decentralization Reserved.
Argument on Franklin B, Lords Spphca-
zion as owner Of thlrty-six shares OF the
capital stock Of the Equitable IAfe Assur-
anoe Society 10 restrain the directors from
putting the naturalization programme
through was concluded before Justice
Maddox in the Supreme Court In Brooklyn
Yesterday. A decision will not be rendered
before Friday,
Samuel Untermyer, a. counsel for James
II Hyde and W. H. Mcintyre, majority
Of the trustees Of the Hyde stock, announced
that he had decided 70 intervene both In
the argument Of the motion and in the
trial Of the action II an injunction Ii OBJ
tanned, and George Zabriskie. appearing as
counsel for Charles w. Morse Of Morse
Dodge fame, a minority stockholder In the
Equitable asked permission 20 intervene
on behalf Of his lent. The permission
was granted. Mr.. Morse. who, II was said,
owns fifteen shares OF the Equitable stock,
will support the plaintiff in bis action.
MORE WAYS THAN ONE TO DELAY MUTUALIzA-
TON.
The appearance Of these new factors, 1t
was said yesterday, means that II the In
junction ia obtained the action following
in the trial Of the case will become 80 in
volved that a final decision will be almost
indefinitely delayed. Reference has al
ready been made by counsel for Lord in
his argument before Justice Maddox to
certain Federal statute which, he contends
has bearing on the case, and 1t is not at all
improbable that, IL the occasion demands
It, the case may be carried 20 the United
States Supreme Court. In the trial Of the
action also. II Mr. Lord Is successful In his
application, il will he possible to call the
offcers and directors Of the Equitable to
the witness stand 10 testify. and what that
might mean in the matter Of time lawyers
connected with the case would not even
attempt to predict yesterday.
Under such circumstances the plan OF
naturalization would, of course, be com
pletely held up 20 far as the present pro Vi
sions Of the amended charter are con-
cemed. and in less than a year Mr., Hyde
will come into control OF the stock now held
IN trust for him. and would, II the injunc-
ton suit were still in the courts, have
more complete mastery Of the situation
In the society than ever before.
That Mr.. Hyde, however, is anxious TO
have the naturalization plan put INTO enect
At the earliest possible moment, and that
he has interviewed in the present action
solely for the purpose Of protecting his
nroparty rights. were statements made
emphatically before the court yesterday
by his counsel.
ATTACK ON sUPT HENDRICKS.
Edward NJ. Shepard's attack on Super
intendent Of Insurance Francis Hendricks
made some stir yesterday. William b.
Honblower. counsel for the Equitable
Society. had just read 10 the court mem
orandiim written by Supt. Hendricks, in
which be recommended the naturalization
of the Equitable. Mr.. shepard for Mr..
Lord. had been charging the ofticeH and
directors Of the society with undue haste
in the PREPARATION and authorization OF
their plan Of reorganization.
mo reason for haste, said Mr. Shepard.
eIcitedly, is given even in this brief which
they get from a public ohhcer who rs not
LAWYER. who has refused 20 hear US and who
il not here with parties interested IN this
controversy. but Is telling stockholders 70
stand outside and write letters TO him II
they please. IMr. Hendricks had refused
20 grant Mr. Lords counsel hearing, but
had advised them 20 write statinBEher
They undertake" continued Mr. Shep-
ard. Ito read us something coming from
that source as though II would have any
effect with Judge Of the Supreme Court
sitting upon the bench
I think IL is unseemly, Interrupted Mr..
Hornbower, for counsel 20 make per-
eonal attack upon a public official
I do not care" retorted Mr.. Shepard,
swhethar he Is Superintendent OF Insurance
or what he is-he is not here. But he has
been brought here by this attempt to reach
n
opportunity Of hearing OF argument and
while he has been comforting In private
with these gentlemen indicating the bqult-
able attorneys
This opinion. said Mr. Honblower,
referring 20 the memorandum when ne
had read. was made in his annual report
before the natter had been presented "a
him for consideration by anybody con-
nected with this society.
DENIAL or VIVA vocE HEARING.
IF an official interrupted Justice Mad.
doI has been requested by anybody for
q hearing upon this matter and he has
denied IT, then the sooner the public knows
q the better
He has not denied hearing, asserted
ne denied a hearing 10 us, Mr.. Shepard
responded warmly, and said practically
that the opinion Of the Equitable and Mu'
tuaI and two or three other companies
his Judgment. sufficient. He said we could
give him a writing II we pleased. We arr
10 stand in the outer darkness while these
gentlemen are in consultation with him
His opinion ought never TO have been
brought here by Mr.. Honblower.'
HYDE's POSITION SIT FORTH.
L read. replied Mr. Hornblower, from
the annual report Of the Superintendent o.
Insurance, from the annual report made
10 his official capacity. What comse
tells me now IL quite new 20 me. that any
formal application has been made for q
hearing and denied.
Mr.. tntermyer's address to the Court
In which he announced that he would file q
brief on behalf Of Mr. Hyde on Friday
contained thorough exposition Of Mr.
Hyde's attitude.
The petition which he will present on
behalf Of Mr.. Hyde would, Mr., Untermyei
said, show briefly something OF the follow
That in 1895 Henry B. Hyde. now de
ceased made a deed Of trust involving
the majority Of the stock Of the defendan
corporation; that the trustees under tha
deed Of Trust were James II Hyde himself
William H. Mcintyre and James W. Alex
Ander. the president Of the society; tina
Mr. Alexander. now here, as the movinl
papers show. h contending that the stool
has no rights whatever. he being the triste'
~ that stock and COntending against an