The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-03

father, the founder OF the aoCietyi u nelo Dy
trustees, Of whom the president Of the go
cety, James W. Alexander IL one Thu
part o. Mr. Hyds'S statement was Opoksr
Of a. particularly disin genuous subtle
aud misleading by the member Of the
poIcynolucrs committee, who went on
10 cay: THE three original trustees Of
Tho stock len by Henry B, Hyde 10 hi
son, james Hazen Hyde were James W
Alexander, Louis Fitzgerald and young
Mr.. Hyde. Mr.. Fitzgerald retired some
time ago, and IN his place young Mr.. Hyde
put Wiliam H. Mcintyre, who was once
Henry B. Hvde's officeboy, and later on
became bis factotum. Mr. Mcintyre and
young Mr.. Hyde are a majority OF these
three trustees, and the statement Of young
Mr.. Hyde that he does not control tho
Equitable Life Assurance Society IL false
In every particular, because Mr.. Mcintyre
does not breathe until young Mr.. Hyde
tells him 10, Young Mr.. Hyde il guilty
OF a gross misstatement o. the facts when
he says that he does not control the Eqm-
table Life Assurance Society
HARTMAN NOT PoLcYHoLpER-. Ds
FIVE sHABEs or STOCK.
The astounding information came to
light yesterday that Edward H. Hartman,
George j. Gould, Jacob II, Schih, H. c,
DeminG. Valentine P. Snyder and II. 2.
Winthrop are not policyholders in the
Equitable Life Assurance Society. They
are stockholders de facto only-that il,
they are directors on the strength Of Ave
shares OF stock James Hazen Hyde trans
ferred TO the names Of each. As bona hde
owners Of stock In the Equitable Society
they would II was asserted, have no stand
ing In court, and yet Mr.. Hartman in his
opposition TO the demands that the policy
holders have say in the management
NJ the $50 $4,000 Of surplus Of the company
has been violent in the extreme.
The committeeman who gave the fore
going information said that Mr. Hartman
and the others mentioned were certainly
not policyholders In the society up TO a
few days ago. This committeeman had
heard that Mr. Hartman and the others,
fearing criticism ON this point, had essayed
within the last few days 10 qualify as policy
holders OF the company. Here was an
astounding state Of affairs, according to
those who spoke Of 1t yesterday. Mr..
Hartman II was asserted had been brutal
In his demeanor and treatment toward all
Who had insisted upon a reorganization Of
the mGnag emsnt Of the company
WOW. WOW. VOW
sIn the meeting on Saturday continued
the speaker. MIR. Hartman, in reply to
the demands made upon the directors,
interrupted the proceedings by bawling
Wow, WOW, wowr At other times MIR.
Hartman would cry Vow, vow, VOW
while at Others he shouted 'Bo-o-o-o-o.'
The policyholders' committee now know
that Mr., Hartman. Wall Street specu-
lator or. as some choose TO speak Of him,
. Wall Street gambler. has had more TO do
With using the funds Of the society for his
own purposes than even Mr. Hyde himself,
OF, for that matter. Mr.. Schif. By the
way, Mr.. Schih has retired as a member Of
the finance committee Of the society
The fact that Mr. Hartman has been
only stakeholder de facto because Of the
five shares Of stock transferred 70 his name
by Mr.. Hyde and the fact that Mr.. Harri-
man has not been and is not known to be
a. this hour a policyholder IN the COM
pany came in for pronounced comment
Yesterday. Il was also proved from the
report Of the Equitable society sent to
the Insurance Department on Jan. 1 that
Mr.. Hartman occupying this anomalous
position in the society, was nevertheless
permitted by Mr.. Hyde and the hoard Of
directors, which Mr.. Hyde controls, TO use
the funds Of the society for his own finan-
cal schemes. or, as another member Of
the Policyholders' committee put it:
EQUITABLE MONEY IN HARTMAN SECURITIES.
Mr.. Hartman, the Wall st rect speculator,
or Mr.. Hartman, the Wall Street gambler,
has not used his own money for his own
financial schemes, but he has used the
money which the 800 .OOO policyholders Of
the Equitable company have contributed
In premiums. In other words, Mr.. Harri-
man. through young Mr.. Hyde and Mr..
Sohii, used the funds Of the society for his
own purpose to get control Of the Union
Pacific Railroad Company. and he got con-
troll Of the Union Pacific by buying up the
preferred stock, organizing a syndicate
and borrowing from the Equitable society
and the trust companies in which the funds
Of the Equitable were deposited, the money
with which 70 get control Of the Union
Pacific Mr.. Hartman was ena bled to do
This because young Mr.. Hyde. not by any |
means a tool Of Mr.. Harriman's. but rather I
IN associate. controlled the board Of direc- .
ors through bis dummy directors. What .
n Kuhn. Loeb 4 Co.. Mr.. HYDE and others
n the syndicate, turn around and sell TO
he Equitable Society the securities Of the
Union Pacific Railroad Company
For proof Of the foregoing statement,
he committeeman for the pohcyholders
uTned to the annual report Of the Equitable
ociety cent TO the Insurance Department
n Jan. /, 1905 which showed that the COM
ANY on that date owned t2l ,iSO, l9s Of what
Ire known in Wall Street speculative cir
les 90 Hartman securities. The oticial
eport Of the company to the Insurance
department is a. follows
AERnAN sEcu RITES UNION PACIFIC AND AIIrEp
cosFAN1EB owNED 1T rHE Eour1AHLE
Par Ndrksi
NdiuS Vdiue.
Ts. r. r. a Nav -. ............ $1,000 tstISz7
o. PGe., Cen Pac. through
Short Line H.......,....,... iOOo.OOO s77.SOO
o Pae,. Cent. Pao. a.. ......,.. G45OOOO A4Ss,H7
o. Pac., Cent. PSo ts.......-. 10000 sTt,Ss7