The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-06
AFTER EQUITABLE OFFICERS.
DIRECTORS TO MEET; MAY ASK
FOR DESIGNATIONS.
OmcsrS Not TO ATTEND Mondays Session
Hyde Might Give Up His once II
He were Sure That Alexander and
Tarben We're Out-Dummles In Revolt.

the executive officers excluded. has been
called for next Monday afternoon. The
call, although unsigned, originated in the
! Prick committee and among the Hyde
radicals on the board Of directors.
! It's purpose. as figured out by Alexander
/ supporters, is to be as a "feeler' to learn
| whether Mr.. Hyde and those behind him
| would be able TO carry through the board Of
| directors a resolution calling for the resigua-
ton Of Alexander and Gage f. Tarbell.
| Mr. Hyde also might be sacrificed in the
event Of the retirement Of his opponents,
| but he will, it has been declared, never
get out as long as they remain in the society's
management. At least one director. il
is known, will demand that all three be sus-
pended and that the affairs Of the societ y
be put into the hands Of a st eering committee
made up Of directors Of the society.
The call was sent out on May /, shortly
after the holding Of a secret caucus by a
good many members Of the board. This
caucus, 1t was said yesterday. was domi-
mated by Hyde men. The call reads
You are respectfully invited to attend
an informal conference Of the directors
OF the Equitable Life Assurance Society,
not including the executive officers, to be
held in the board room Of the society, 100
Broadway, on Monday, May s, 1905 at 3
P. M
Meetings Of the bosfd are ordinarily
called by President Alexander and the
formal notice is always signed by William
Alexander the society's secretary. Mr..
Hyde's supporters refused yesterday to
give any information about the meeting,
and the Alexander people admitted that
they were trying to find out what it meant.
The officers who will be excluded from
the conference besides President Alexan-
der and Vice-President Hyde are Gage +.
Tarbell, George T. Wilson William II.
Mcintyre, William Alexander, T. D. Jordan
and H. r. Winthrop. or these, McInt yre
aAd Winthrop are avowed Hyde supporters
That any attempt by the Fdok COM
mittee or Mr.. Hyde to compel the resigna-
ton Of Mr.. Alexander would be met by
strong opposition, even among many OF
the Hyde dummy directors, was evil
dent yesterday. Some Of these directors
who have qualified for Office only through
the stock which Mr.. Hyde or his father
transferred to their names are thoroughly
aroused over being called dummies and
they declare that they will resist any at
tempt to relieve the present officers OF
their responsibilities until a thorough in
vesdgation has been made.
One man who called himself "dignihed
dummy said yesterday afternoon:
i have talked with my friends on the
board and we have dsoded that we will
no longer be dummies There must be
a thorough housecleaning, no matter who
may be smirched. In my long connection
with Che board have never got anything
out OF the Equitable except my directors
fees for attending meetings. had not,
Of course, the faintest idea OF any OF the
many Irregularities that have been alleged
since the controversy began. The mere
withdrawal Of Mr. Hyde, Mr.. Alexander
and Mr.. TaTbell would not, however, avail
now. Too many charges have been made,
an the whole house must be get In ORDER
new charge which State Superintendent
Of Insurance Hendrick will be called upon
to investigate is that Mr. Hyde and two
other directors associated with him In under
writing Pittsburg Terminal securities Of
the Wabash railroad made $4,000 each
out Of the sale Of certain blocks Of these
securities 10 the Equitable Life and its
subsidiary company, the Mercantile Trust
Company.
EIbslutIll AleAhnutI bdlu NbhNeIuAl III
reply to Mr.. Hyde's refusal to accept his
resignation as trustee Of the Hyde stock
that il really made no difference to him
whether the resignation was accepted OF
not. Mr.. Alexander said that Mr., Hyde's
statement that he owed his cffice Of Presi-
dent and his seat in the Equitable director
ate to his trusteeship was absurd.
i was, said he, "A director and officer
of the company for twenty years before
became a trustee Of the late Mr.. Hyde's
stock"
It was said for Mr.. Alexander
that II Mr.. Hyde's counsel carried out the
threat which has been made to bring suit
to depose Mr.. Alexander a. trustee Mr..
Alexander would set up that he had been
obliged to call for the naturalization Of
the society because Of the -tortious- acts
Of Mr.. Hyde. Mr.. Alexander, II was said
further would describe in detail what
these acts we're.
Frank H. Plat counsel for the policy
holders committee, issued a statement
in regard to Mr., Hydes letter REL, sing to
accept President Alexanders resignation.
Mr.. Plat said;
Mr.. Hyde's letter IL a complete revela-
ton Of the standpoint fr ON which ne regards
the administration Of the Z ,uitable. IL
has been charged that he regards this
administration not a. the management
Of g sacred trust for the holders Of policies,
but as a mere perquisite Of the holder OF
the stock. His letter IL a complete con-
fession that this charge Il true, and is all
the more forcible because II is unconscious"
II. c. Prick, chairman OF the Eqhtable's
committee, left town yesterday for Pitts
burg Before leaving be said
The investigating COMMITTEES Ia doing
its work as rapidly a. possible and thor
oughly. My letter 10 Mr.. Alexander on
April 8. which was made public, fixed the
scope and character Of the investigation.
from which there has been and will be no
deviation
Notwithstanding Mr.. Fricks statement
that the committee was pr ogressing nicely
statements were made in other quarters
yesterday that there was further trouble
on the committee. Cornelius N. Bliss and
Brayton Ives, who are Alexander sup
porters, are threatening, It was said, TO
present q minority report unless the
report conCurred in by Mr.. Prick and
Mr.. Hartman should be entirely thor
ough and fearless With Jams j Hill