The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-03


and admonishes officers and subordinatee
and notifies people dealing with the society
TO have their transactions with himself,
stating that the presidents wishes, action
and Judgment In any matter may be ignored
MANY inst ances OF this could be given.
Mr.. Mcintyre, who 10 regarded Is the per-
sonal represent alive and spokesman OF
the vice-president has not only carried
out transactiona without their submission :,
to the president, but, on being questioned
as to the presidents attitude or approval
OF such transactions, has In repeated m
stances expressly stated, In answer 70 sucn
inquiries, that II made no difference.
This has been done behind my BACK
and In tho most persistent manner, showing
. settled purpose on the part OF the Woo
president to break down the autholty
and influence OF q superior ofiicer and az
tho same time to increase his personal
influence and control OF the financial opera
tions OF the society without regard to
propriety or the effect upon tho society
Of tho methods adopted by him.
soC1rrY's INVESTMENTS CARRIED IN HYDE's
NAME.
Mr.. Alexander further stated that Mr..
HYDE had committed tho society upon his
own responsibility to enterprises on which
he should have consulted others, and mem
tions further 'the very extensive purchase
of the stock OF the New York Central Rail-
road Company made under the urgency and
persuasion Of Mr.. Hyde for the purpose OF
creating q basis for request on his part
for election to the board Of directors OF the
New York Central Railroad Continuing.
Mr.. Alexander said:
AHe tMr. Hydel has displayed strong
personal ambition and an inordinate and
unsafe love OF prominence, a quick respon-
siveness to Aattery, pliancy in the hands
Of persons whose interests are not neces-
sarily parallel to those Of the policyholders
Of the society. This, in conjunction with
his conception OF arbitrary power and
right as the holder Of the control OF the
stock, renders him a highly unsafe official
As illustrative OF the foregoing charge
Mr.. Alexander gives the names OF forty
six corporations in which Mr.. Hyde had
procured his election as director, and says
that as an aid to his election in certain OF
them he has had large amounts OF stock
which are owned by tho Equitahle in these
companies transferred to his individual
name and that he now appears in many
instances as a very large stockholder OF
record. when, as a matter Of fact, the Equi-
table is the real owner of the stock
Mr.. Alexander instances the Equitable
holdings Of stock in the following COM
paniee, all standing in the name OF Mr..
Hyde:
Long Island Railroad Co pany. 1900 shares
marlborough Railway Company 2.4o0 shar"S
The Delaware and Hudson Company. io,ooD shares
a ,l.N aI In nj
Of James II. Hyde BY his procurement.
Manhattan Railway Company. 1880 shares.
New York Central and Hudson River Railroad
Company, l2.0O0 shares
Hlbernia Bank and Trust Company OF New Or
leans, 900 shares.
Pennsylvania Railroad Company. I0, $50 shares.
Chicago and Northwestern Railway Company.
$500 shares common stock. $500 shares preferred
stock.
Chiraso. Milwaukee and St. Paul Railroad Com
psny. 500 shares.
New York, New Haven and Hartford Railroad
Company, S668 shares.
Bank Of Montreal. SEQ shares
First National Bank OF Denver. i.ioo shares.
MADE DIRECTOR THROUGH EQUITABLE HOLD
IN0s.
Continuing Mr.. Alexander says;
The amounts Of the stock held by the
Equitable in the foregoing companies may
have increased or diminished slightly since
the original purchases from the record Of
which the foregoing facts are taken.
an some Of these companies he Ia a mem
Der Of their governing or executive COM
m;ttees. These positions he has procured
without consultation with the presi lent
Of the societ Y. save in few instances, or
With the society's executive comm. .ee,
end with no consideration as to the pro-
rr,ety of accepting such positions and
tha compatibility Of their varied and ex-
tensive duties with his work as an officer Of
the society or with his freedom OF attitude
a. the representative of the societys in
terests. II there is any real nee3 for the
s, Getty to be represent Ell upon the boards
- companies whose securities the society
holds that represent at ion should not be
entered in one person. who cannot by
any possibility give proper attention to
the duties Of 80 many positions.
As further illustration of the state
rents contained in the foregoing specihca-
ton. l mention the fact that he has, in
return for election to tie boards of various
companies and .. an induccment or re-
ward for such recognitiOns by other COM
pa'iea displayed partial and ready will
inEress to extend to such companies and
to individuals interested therein pecuniary
AMI oi4,er farors from the Equitable. On
i. subject must defer complete specif-
cation Until reports now under way are
fn''Ned and submitted 20 me.
Il further stated;
He mir. Hydel has acquired a wide
celebrity and unpleasant notoriety by
reason Of his recreations and enjoyments Of
a more or less public nature, which is ex-
coedingly hurtful to the company. disquiet-
ing to it, pclicyholders and discouraging
to its agents. And this not oriety cannot
lie said to be misfortune that has over
taken him, because he has cultivated it,
striven for it and even used the instru men,
talities that he commands in the society
to achieve it,
HYDE's 'FLIPPANT, CHEAP NoToEIErY.'
Il deem it unnecessary to make any ex-
tended enumerations under this specifica-
tion. l do not wish to seem to attach an
undue Importance to matters which may
be defended as merely matters Of private
conduct. Many things harmless in the
selves and Of little Importance to one
indifferently situated become Of very great
Importance when the person under consid-
Grafton occupies conspicuous position
IN the management and control Of great
lie insurance institution.
Public coaches, special trains, elabora to
banquets, costly and ostentatious ente tain
ments, accompanied as they are by con-