The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-06-06
JAMES H. HYDE IS
STILL IN CONTROL
OF THE EQUITABLE LIFE hssUR.
ANcE SOCIETY.
Meeting Expected to Settle the Trou.
BILE Only Served to Widen
the Breech.


Hyde and his associates are still in
control of the Equitable Life Assur-
ance Society, and the meeting held this
etternoon of the full board of directors
which was expected to settle the trou-
bles in the corporation only served to
widen the breach, and some of the best
known of the directors, however, will
within the next "a hours sever their
connection with the board. Chief OF
these is Henry G. Frick of Pittsburg,
chairman of the committee which In
vestigated the company's affairs, who,
when the report of his committee was
rejected by vote of % to 10, took the
floor, and, after denouncing in scath-
ing terms some of those who had voted
against his pet scheme, rendered his
resignation as a director.
Incidentally it can be stated that Mr..
Hyde's promise, made three weeks ago,
that he would dlvest himself of the
control of the stock of the society, will
be adopted, a resolution to that effect
having been passed 1t is also certain
that the present executives are to be
Invested of their control and chair
man of the board of directors with
full powers over all departments Is to
Le elected. This is admitted in the
statement given out after the meeting
adjourned by President Alexander.
The meeting of the board of direc-
tors today was a long and stormy one.
1t was held behind closed doors, but
low and then loud and angry words
filtered through the doors to the wait
ing group of newspaper men on the
outside. Early in the day it had be-
come known that the Alexander direc-
tors had agreed to combine with the
Hyde followers to combat the Frick re-
port and secure its rejection. 1t was
felt that 1t reflected too strongly on
the officers of the society, and more
than one of the men present believed
that If the Frick report were adopted it
would mean that all of the various
resources of the society would be
transacted to an outside syndicate of
which e. III. Hartman would be the
executive head. When the Frick peo-
pie arrived on the scene they were
bound to lose and consequently Mr.
Frick, Mr.. ingalls, and other leaders
entered the board room in no pleasant
| frame of mind.
The trouble began at the outset.
Mr.. Alexander and Mr.. Hyde were
called on to explain the charges made
against them in the Frick report. Mr.
Hyde jumped to the floor and for more
than half an hour he talked to those
who made the allegations against him
paying particular attention to Mr.. Har.
riman, whom he accused of base in.
gratitude and of conspiring with other.
to secure the control of the society's
funds. He referred to his offer made 6
few days ago to surrender the stocl
control of the society and said tha
this offer still stood and that it wa;
Cpen to the board of directors now anC
al all times. His references to Mr.
Hartman excited that gentleman am
his friends and things looked very
squally for the time owing to tn,
charges and counter charges that wer,
flying through the air.
So bitter did the debate become tha
some of the more dignified member.
declared their intention of leaving
the meeting room should their fellows
not pay little attention to the prop
rieties.
Finally, when the vote was reached
and it was discovered that the Fricl
recommendations had been beaten by
vote of 20 to 13, the Hyde and Alex
ander directors voting solidly agains
it, Mr.. Frick left the room in a tow
cring rage after announcing his resig
nation as director. He refused t.
say anything to the waiting reporters
declaring that Hyde and Alexande
were in a position to do all of tn
talking. He was followed few min
utes later by M. E. ingalls,, who wa
also far from being pleased.