New-York tribune., 1905-05-09
FRlCK REPORT FINDINGS,
HYDE PARTY PROPHECIES.
SAID That Directors Heard Charges
VII Be Sustained.

WlU BE Sustained.
After a conference of less than an hour the
directors of the Equitable Life Assurance So
ciety who answered yesterday the anonymous
call for an informal meeting" decided that the
Frick committee should try to make its report
! before May 81, when the next meeting of the
! board will be held and then adjourned. There
! were present twenty three directors, less than
majority of the board. The Hyde men num-
! bered two to one of the Alexander followers
! according to an official of the society, even
! without counting as Mr.. Hyde's friends men
| considered Independent, yet with Hyde leanings
The meeting had a distinctly favorable TO
! M Hyde it was said after adjournment.
Care was taken not to make II even formal
meeting. No secretary was elected. The dls-
cussion was informal, many of the directors
keeping their seats while they spoke. The trend
| of the arguments that the Equitable was
| losing prestige and valuable business through
! the continuance of personal quarrel The dl-
! lectors. forming the governing body of the So
| ,ietv should see that the quarrel was stopped,
! but as the board had named committee to in
| vestigate partisan charges, nothing could be
! done until that committee reported. Therefore
it would be desirable to have that report as soon
as possible.
Official denial was made of a statement that
! one director advocated the retirement, forclble'
if necessary of President Alexander, Mr. HYDE
and Mr. TarbelI It was said that no suggestion
even was made that those officers should resign.
\ suggestion by implication was made how
ever when NJ E ingalls,, after a speech IN
which he told of the necessity for a speedy
settlement of the difficulty, urged for the So
cietv an executive of capacity man Win
business experience and reputation.
1--WE must get a of the size and ahlllty
Of Grover Cleveland" said he. IF we want
itc mt
ment-"
FRICK. COMMITTEE REPORT MAY 81.
IT r Frick chairman of the investjga ting
committee. although Re had returned from
Pittsburg. was not at the meeting. MI FrlcK'
according to many of the directors was nettIed
that the meeting should have been called con-
sidering it as somewhat of an affront TO his
cor,raittee Through E. H. Hartman Mr.. Fric1
sent word to the conference that he felt 1t
would be somewhat indefcate for MIN TO at
tend since he was chairman of the investigat-
| ine, committee, and he believed that bodys work
would be under discussion
There was a tendency to ask good many
Questions about the investigating committee
said one of the directors 1T was promised
that the Frick committee would make a re
mort TO the directors on May 81"
Mr. Hydes friends were well pleased with the
! results of the meeting. Much of the findings of
! the Friclk committee with regard to Mr.. Alex
l ander and Mr.. Tarbell was brought out in the
: discussion said one Of them, which would make
if uncomfortable for those officers All this
would go before the official meeting of the
board it was said, although 10 formal action
was likely 10 be taken on it then. The Frick
! committees report would be spread through the
country first, he believed.
The Frick committee had evidence Mr.. Hyde's
ap6 at ne me
T ing that Mr. Tarbeu had been working for two
- ! ,ears TO bring about the present situation il
g the society The committee had witnesses /
e was said who had heard MIR. Tarbell say thai
- inside a specified period he would be. presiden
Of the Equitable.
:, MIR Alexander had broken his pledges, th'
- Frick committee had found, according to this
t. report of the discussion at the directors con
o ference The Frick committee has acquired
e evidence Of Mr.. Alexanders duplicity with re
o gard to underwriting syndicates. according L
e another of Mr.. Hyde's friends, In the list o
a underwritings concerning which Mr.. Hyde ant
It Mr.. Alexander wrote some tart letters was
II subscription to the first japanese loan in l9oi
st To This loan the Equitable was subscriber, an
le lanes w Alexander and James II. Hyde equa
subscribers, each taking half the amount whic
e was allotted to the society. The negotiation
g were carried on entirely by Mr.. Alexander, ac
t cording to this informant. Mr.. Hyde was il
'e Europe the entire time. Kuhn Loeb CO
recognized only Mr.. Alexander in the under
writing. yet this was one Of the transactions o
l.. which Mr.. Alexander denied knowledge, sal
this supporter of the e-president
Mr.. Alexander could not be seen in regard I
II this statement. cambridge Colby Of his coun
sci said for him:
1T Is ? sllulking faIsehood which 10 on
70 would have the hardihood to issue. save anony
NJ rnously 1t is unqualihedly false"
te A director close TO Mr.. AleXander's party de
h. clared that nothing took place at the mectiI
@. which was not covered fully in the Official state
ment There was no discussion of the possbl
lG RESIGNATION of any officials, he said. There wa
III no talk about the findings of the Frick com
mittee. certainly 10 declaration that an
X. charges against President Alexander or NJ
&c | Tarbeu had found substantiation.
Ii The directors convened soon after 3 p Il
Yesterday There We're present Louis Fitzgeral
Chauacey NJ. Depew, II. G. Demng. G.
Il Squire. Charles $ Smith, Alvin W. Krech Joh
! McCook c. I.edyard Blair, NJ. F. Ingalls,
H. II. Hartman Jacob II. Schin, c. b Alexande
ais M Hartley Dodge, J. +. De Navarro Bradis
H.
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