New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-13
HYDE COMPLAINT SERVED
Continued from FIRST page.

dictate transactions Of James H. Hyde and Asso-
first series were underwritten, pIaintirf James IA
Hyde was in Europe, Participation in this synd-
cate was offered to defendant personally and he
accepted. on behalf of James H., Hyde and Assoc
bers of the syndicate. allotting TO himself $4,000
participation and to James II. Hyde a like amount.
committee Of the Equitable society composed Of de-
thoTized the purchase by the society Of part Of the
issue Of these bonds and the purchase was made
These transactions were in continuance OF Gus
tom that had existed IN which the defendant had
been party and beneficiary for many years prior
to the connection of James Hazen Hyde with the
inteEssts ba dfan9e III Tec U
at the same time that received by the said Hyde
As to the charge that said James Hazen, Hyde
was IN any way interested or concerned in the
Is unqualihedly false. He was never IN any way
The false and defamatory charges have had the
effect Of seriously impairing public confidence In
management. and has affected its prosperity. The
organization has been crippled, the business in
vency and stability of the society. many of It's
of their Investments resulting in litigation in many
Of the States and Generalization among its en-
poyes. All these disastrous results and the conse.
quent injury to the stock Of which the deFendant
spiracy Of the defendant and to his PeTidy IN At
tempting for his own selfish purposes to destroy the
value of the property tntrusted to his care
A STOCK CONSPIRACY ALLEGED.
The general complaint continues:
Plaintiffs are informed and believe that the de-
Hyde his attaining the age of thirty years and
@ak teo na% 0f the Of s S5 @ Te
ant has for many months past been secretly en-
the purpose and effect of which, if successful
agement Of the society away from the stock with
out the consent of its holders and to confer this
ETY. but in a form in which he expects to be able
to control such management through the proxies
viii he society
pocyholders. securing the control for himself ana
1913. this movement was conducted by the defend
ant in secret.
Mr. TarbeII is introduced thus:
The defendant. who owed his connection with the
generosity of Henry B. Hyde inauggrated the con
Second voeprssGen Of the society All the overt
actst in the conspiracy were committed with the
secure to the defendant and Tarbell the control
of the society and its assets treea from tne TSt Us
assets incident to the ownership or Ine STOCK OF
at was the desire of Henry B. Hyde" says
the complaint. "as was well known to the de-
PENDANT. that the control Of ths stock so placed
in trust and the responsibility for the selection
of the directors of the society and for its man
agement, should remain in his descendants as
Tong as the law would permit
The complaint recites how Mr.. Hyde was sum-
manded that he should resign 1t tells how Mr.
Hyde to prevent the destruction of the value OF
the stock offered to compromise by offering to
have his stock voted for five years by the d.
rectors in the mean time steps to be taken II
necessary, to retire the stock and TO conserve
the rights of stockholders and pollcyholders.
cided to 'rnutualze" the company and buy the
Hyde stock, and how they found that they hau
no power TO purchase 1t.
SAYS HE HAS RESIGNED.
Tho reply of Mr.. AIexanders counsel is largely
along the lines of recent statements from the
Alexander side. He declares that the plan of
naturalization advocated by Mr.. Alexander
simply carries the original design of the charter
to it's logical conclusion.
Notwithstanding Mr. Hyde's recent statement
that Mr.. Alexander would not be permitted 10
resign his trust it is insisted that Mr. Alexander
has voluntarily resigned. as he had the right
to do under the agreement"
Every step in the direction of naturalization
It is added, has been taken with "a sincere and
disinterested purpose" The 'pretence' that Mr..
Hyde has acted under duress' is characterized
as absurd"
The allegations of the complaint are regarded
"as merely intended to create a false impress
sion and as utterly immaterial to the main Ques-
lions involved"
THE purpose of this action says the reply,
"can hardly be to obtain relief in the courts 1t
merely seeks to divert attention from the vital
question of giving to the pOlcyholders the con-
troll of their own property.
Mr. Hyde, 1t was learned yesterday, left town
and, unless his presence is urgently demanded.
will not return until next week
Owing to Superintendent Hendrckss absence
yesterday, his investigation was postponed until
Monday.
Mr. TarbelI, it is said. will be examined either
on Tuesday or Wednesday, when he will be
asked so report has it, to his early business
career his alleged practice Of ''rebating' and as
| to the salary of his stenographer, who is said
to receive $4,000 year.
In his examination by Superintendent Hen
bricks Mr. Alexander it was said yesterday,
was asked If he had authorized the denials of
dicates The following checks made by Mr..
Hyde and payable to Mr.. Alexander. by whom
they were indorsed We're shown to Mr.. AleXan-
der II is said: January %, 1908, 81. OBJ 73;
Aprtl % 1904 50 9S2 81; January II. 1905. S2S-
266. July 30 1902 $4.531 49, July H. 1904, S.
2O4 AZ: october 1S 1904, $3.50 %, and June 1.
1904, 50. 92S
CHECKS IN SYNDICATE DEALS.
AS TO the two checks, for $2S 266 81, OF
January Il. and the other for S12,523 73, of jan
uary % for syndicate profits on two japanese
loans which Mr.. Alexander had stated that he
had handed over to the cashier OF the society, II
appeared on his examination, it is said, that
both went into his own trustee bank account.
On February /, the day before Mr.. Alexander
confronted Mr.. Hyde with the memorial ma
drew a check for these two amounts, Whlch was
handed to the cashier Of the society, II is sara.
The moneys paid 10 him on all the other
| syndicate transactions still, 1t Is sald re-
| tanned.
Frank PIatt said earlier in the day that Su-
| perintendent Hendricks might ask attorney
/ HvnaN Mr. Nd