The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-16
HYDE TELLSOF UNDERWRITING
Continued from First Page.

yesterday afternoon, after Mr.. Hyde had
been in consultation for more than an
hour with his attorneys. There was an
other conference last night at his home,
in East Fortieth street, at which 1t was de-
termined TO make the letter public. Mr..
Hyde his friends said last night, had, as
he states in the letter, hesitated a long
time about doing this, for he was
most DESTROYS, they declared, Of living
up to the terms Of the understanding
regarding the matter Of publicity reached
at the last meeting Of the board Of directors
But he felt that the compact with the Alex
ander faction on this point had been vio-
lated by them with results detrimental TO
him and he could no longer remain silent
A copy Of Mr.. Hyde's letter was shown
10 President Alexander last night. He
said
'Mr. Hyde's statement on the subject
Of alleged syndicate participations by me
Is untrue. On receipt few weeks ago Of
letter from Mr.. Hyde accompanying
the check to which he refers, stated 10
him that the matter was one that must
be fully sifted and l requested that / be
furnished at once with a complete state
ment from him on the subject This re-
quest has not yet been complied with
AS TO the reference to newspaper attacks
no disclosures as TO Mr.. Hyde's acts have
got into print through me. l may say that
many statements intended TO be injurious
10 me have been given 10 the press by those
interested in defeating the movement
set in motion by me for the benefit of the
policyholders These statements l have
to kt,r fIanNiRaA y-tfh
Hyde, but have preferred TO suffer these
baseless attacks upon my conduct and
motives rather than TO resort 10 such
methods in a contest for principles which
l regard as vital, and in the discharge Of
duties which are more grave and onerous
than any which have ever been compelled
to perform
The Alexander factionists when they
heard that Mr.. Hyde had given
his letter to Mr.. Prick for publca-
ton. declared that they were satisfied that
he had broken the truce regarding pub
LEFTY many times since 1t was entered into,
and they would, they said, no longer have
any regard for the compact with him. In
short, Mr.. Hyde's letter was regarded last
night as a sure sign that the fight has been
brought into the open again, and that dis
closures more Sensational even than those
that have already been made regarding
the conduct Of the society's business would
be forthcoming almost mediately.
The Alexander faction, it was said, might
delay action until after the meeting Of the
general agents and managers In this city
next Tuesday, but that they would be able
to remain silent longer under the circum-
stances even the most conservative mem
bers Of the faction we're not willing TO admit
last night,
The Alexander people say that Mr. Hyde
does them a gross injustice in his letter in
attribudng to them the statements that
have appeared in the press in the last few
days. They assert that they have 10 the
letter lived up to the agreement made at the
meeting Of the board Of directors They
deny fatty that they are responsible for the
public information regarding the refunding
by Mr.. Hyde Of the profits which be had
made in the underwriting deals,
Attention was called by some Alexander
last night to the paragraph in
Mr. Hyde's letter which says that Mr.
Hyde viii do everything possible TO carry
out the provisions Of the amended charter,
giving pohcyholders majority Of the
directors, but that he viii make no further
from his legal rights and intends
10 defend the rights reserved TO him" These
Alexander supporters wanted 70 know
whether this was 10 be taken as a formal
announcement by Mr.. Hyde that he would
not yield TO the pohcyholders the control
Of the executive committee.
How many directors we're concerned
With Mr. Hyde in the undertakings was not
disclosed yesterday, but a well founded
report had Il that there we're eleven mem
bers. Eleven times SOL 900 il Se7i 900, !
which Is the amount by which the policy
holders assets would be augmented
shares are equal and II each director
thought as Mr.. Hyde seems TO think, that !
syndioators' shares ought to be returned. !
Aside from mentioning President Alex
lndey's name, the Hyde factionists refused !
10 disclose the identity Of any
of the other directors interested with the |
,ociety's vioe-president in the deals.
Z. II. Hartman. George j. Gould, Jacob !
q. Schih and II. c. Prick have been men
toned since the present controversy began |
Is having been associated with Mr. hyde /
n many deals. II was said yesterday by |
, man familiar with the Affairs Of the So
,iety that some Of the syndicate agreements,
Iigned james H. Hyde and associates
IRE now In the possession OF Kuhn, Loeb a !
o., Jacob H. Sohihrs firm.
Many inquiries were heard in Wall Street |
As TO the probability Of District |
Attorney Jerome taking a hand before long |
n the Equitable situation. The charges |
made against Equitable directors when
lifted down, e was said, are practically |
hat 600 900 ponOyholdors have been robbed, |