Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-04
THE EQUITABLE FIGHT
Hyde's Position Outlined in
Counsel's Statement.
THE REPLY COURTEOUS
PLAY AND COUNTER PLAY OF BIG
FINANCIERS
To Secure Control Of the Great Wealth.
Producing Property-Frick's Re-
port Charged Misleading.

NEW YORK, June 3.-overshadowing in
interest all the other sensational deveIon-
ments in the affairs of the EQUITABLE life
Assurance Society, attendant on the re-
lection by the directors yesterday and the
publication today of the report of the
Flick committee, comes an announcement
that the controversy between President
James w. Alexander and Vice President
James Hazen Hyde is at an end and that
tnese two gentlemen have concluded de-
fensfve and offensive alliance The basis
OF this agreement is reported to be that
they should In future devote themselves
to the interests Of life insurance and keep
all Wall street entanglements out of the
affairs of the Equitable
Mr.. Alexander and Mr. HYDE were In
conference today with certain of their
friends and advisors for more than two
hours. Deep interest attaches to the re.
suits Of the unexpected turn of affairs,
the general inference being that 1t portends
very determined effort to reconcile the
interests of the warning factions and re-
establish the direction OF the society on q
basis acceptable to all. It was also made
evident today that there is scant probability
the resolution OF the directors yesterday to
create the Office of a chairman Of the
ments and affairs of the society will ever
be put into effect
This is indicated by the marked disincli-
nation OF several members of the committee
Of seven, appointed to nominate a chairman,
to serve on the committee. d. o. Mills,
who was named one of the committee,
said today that he had decided not to serve
and that nore of his colleagues had SO far
consented to do So
After the conference between Mr. AlexanL
der and Mr.. Hyde 1t was reported that
Robert T. Lincoln had been agreed upon by
them as the man best qualified to assume
the craftsmanship of the board of directors
Features OF Frick Report.
The prominent features. of the Frick re-
port, about which there was boundIess
speculation when it was practically rejected
and suppressed at the meeting yesterday,
proved when 1t was published in full today
to follow closely the outlines forecasted
several DAYS ago. Both Mr. Alexander and
MI Hyde are severely criticised in the re-
port, which declares that, assuming Mr..
Hyde to be guilty of the things charged by
Mr.. Alexander. the latter is "culpably
negligent in acquiescing in them for so long
a period, and in not bringing them to the
.
Among the features of the report is a
letter from Mr.. Alexander, devoted i'm part
to reiteration of his charges against Mr..
Hyde. especially the one to the effect that
Mr. Hyde was enabled to become a director
in many corporations by reason of the fact
that large quantities of stock belonging to
the society were held in his name Com
menting on letter from Mr. Hyde giving
the details of profits resulting from syndi. /
cate operations. the report. while admitting
that the society had.profited by these trans
actions. declares the officials in the syndi- I
cate to have been guilty of breaches of
trust and propriety in SO dealing with a cor.
poration which they were serving
Counsel for Mr.. Hyde issued late todav a
long statement defining Mr.. Hyde's position
In reference to the attacks on him. In this
attention is called to the fact that Mr. HYDE
had repeatedly offered to trustee his stool,
and had for many weeks urged that a man
"of dominating national reputation" be
placed at the head of the society. The
statement covers the details of numerous
stock purchases alleged by Mr.. Alexander
to have been made at the instance of Mr..
Hyde. without consultation with any menu
bers of the society, and declares them to
have been approved at meetings of the
finance committee at which President Alex
ander was present. A letter from Mr. Alex
ander to Mr. Hyde is incorporated in the
in support OF this contention.
Mr.. Hyde again denies that he ever at
tempted to undermine the presidents au-
thority. Referring to the charge of per.
soilal ambition, Mr.. Hyde declares that his
sole ambition was to worthily fill the place
occupied by his father, the founder Of the
society. In conclusion Mr. Hyde reiterates
his charges that Mr.. Alexander conspired
against him, with the design OF ousting
him from his position and obtaining control
OF the society himself.
Counsel for James II. Hyde issued q
statement this afternoon outlining the
position of Mr.. Hyde with reference to the
attacks made on him. The statement il as
follows:
Hyde's Statement.
"The resolutions passed at yesterdays
meeting for a selection Of chairman Of
he board, and requesting Mr.. Hyde to trus-
Zee his stock, contained nothing that is new,
and 1t will be remembered that from the
,utset OF this unfortunate and unnecessary
Mr.. Hyde had offered again and
again to trustee his stock for limited term
under proper restrictions SO as to secure q
BOARD OF directors which the policy holders
and the public would accept as fearless and
Independent. although 1t would be difficult
10 find more representative body of men
han those constituting the present board.
Mr.. Hyde may well complain that his
efforts to save the society from
the calamity have not been appreciated, and
that in the multitude of plots and counter
plots to capture the control of the society
The effort has been under cover of abuse to
wrest his property from him.
What Hyde Has Urged.
"The suggestion that man OF dominat-
ng national reputation. fearless and inde-
pendent, be put at the head of the society.
With the Office of chairman of the board and
With unlimited power, is one that Mr. Hyde
ias been constantly urging for six weeks
past as solution of the trouble All he
lsls is the selection of some person whose
lame will be a guarantee of honest, fearless
and management. He is will
ng to take his chance with such man.
"Mr. Hyde has said from the outset that
here Is one subject. and only one. on which
le will never bulge That relates to these
O-called charges He will fight to the END
q defense of his reputation Anything short
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