New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-02-18
HYDE MEETS ALEXANDER.
EQUITABLE SKY CLEARS.
storm Expected When Mut"at'aa-
ti0n Committee Reports.

ton of the company agreed on at the meeting
Yesterday these plans were still largely in the
embryo stage. but according TO a canvass made
by a Tribune reporter among certain of the
various interests the line of division is still very
distinct interests seem irreconciable, dead
lock is threatened and April u promises to see
a battle royal between the warning parties
Mr. HYDE and Mr. Alexander had a conference
YESTERDAY and after il was over it said in
quarters which have hitherto proved authentic
that Mr.. Hyde had expressed himself as being at
q better understanding with Mr.. Alexander than
at any time since the death of the senior Hyde.
He advanced the opinion. 1t was said, that Mr.
Alexander had been influenced by other officials
who had turned over to him masses of letters
which they had had the agents write, and had
been moved 10 oppose the policy of Mr.. Hyde
rather by this second hand and inspired in
formation than by his own ideas and initiative.
Mr. HYDE added il was declared, that he had the
suspicion that another insurance company was
at the bottom Of the campaign against him.
Il is understood that cabinet conference be-
tween President James ". Alexander, James
IA HYDE and Enhu Root. his counsel; E. H. Har-
,rinan and jacob b Schiff, took place at No.
100 Broadway yesterday, and further confer
ences viii be held this week. Meanwhile both
sides claim a victor.- President Alexander repu-
sdiates any intention resign. the policyholders
are themselves organizing to protect their in
1erests and conferences are the order Of the day.
According TO the presidents adherents. his re-
election and the appointment of committee
for naturalization indsputabIe victory
flor Mr.. Alexander. and the fight is at end.
hAccording TO the vice-pTesdents allies the fight
has only just begun. Mr. Alexander was re-
.elected at the instance of the ice-president.
who so requested at the meeting. and as for the
naturalization Mr.. Hyde had wished it for some
F1inle in view of the fact that so many States
are passing laws prohibiting non-mutual COM
,panies doing business within their borders his
supporters say. Therefore. the fortunes of the
N1ay were all on the side of Mr. Hyde.
PROXY PLAN WOULD BE VETOED.
At the meeting on April r. when the mutual
cation committee viii report. there are indica-
ltions that certain members of Mr.. Alexander's
party will wish to substitute the proxy plan of
zone policyholder one vote, for the 1000 policy
holder scheme demanded in the anti-Hyde Pc
-tition, and viii ask for the retirement of the
Sstock without compensation for its voting
.power There are also indications that if any
such retirement plan is proposed the Hyde party
will at once lock horns with the proposers and
t1noreover that Mr. Hyde will veto any such
proxy plan on the ground that it will place the
voting power in the hands of Mr. AleXander's
lagenCy men.
II is said that the present plan proposed by
M HYDE is simply a minority representation of
the poIicyhoIders. The following statement
made under pledge Of the Withholding of the
name Of the maker. by one Of Mr.. AIexander's
iadherents, suggests. in the opinion of many, the
presidents point Of view as to naturalization
and foreshadows the stormclOud that is already
regathering
There are roughly four plans for mutualiza-
ton. These plans are either related or entirely
separate.
The first is this: The directors by a three
fourths vote could authorize the attendance and
due accrediting of policyholders holding policies
OF 5000 or over at the meetings.
This was the plan proposed in the original pc
Etitiion. The general supposition has been that
Shese five thousand holders would either be un-
willing unable to attend. This plan, too,
nvoul5 BIZ obviously unfair to the smaller policy
holders
The second question is the indemnifcation of
stockholders and the retirement of stock The
bstock is a per cent stock and its present money
value would have 10 be appraised I do not see
why there should be any compensation the
stockholders for the stock controlling value,
because this control voting power is. as il
were trusteeship and should then receive no
compensation
The third plan is TO obtain such liquidation
as viii enable all policyhoIders large and small
10 vote thereby transferring the "one-man
Il OOO-share" power to 100000 or 100000 share
Interests.
The fourth plan would be to ask legislation
booking to these or other ends
J. ". ALEXANDER NOT TO RETIRE.
. Modification of stock and no compensation"
said several Of Mr. Hydes adherents absurd
These may be, however. minority representa-
ton OF policyhoIders. The holders, however, are
well represented it is
Both sides seemed to agree that It was too
early to formulate hard-and-fast plans for mu-
tualization and if any date has already been
Tset for a formal meeting Of the naturalization
committee no one could be found who knew of
lit yesterday.
On behalf of Mr.. Alexander it was denied posi-
,tively that he had any intention to retire. One
of his friends pointed out that the fact of having
remained in the company at his age when he
was well aware of the brewing storm was the
best proof that he was in to stay.
Reports that a syndicate headed by E H
Hartman had made would make an offer
for the Hyde holdings were authoritatively de-
MED. 1t was said that Jacob H. Schff believed
that the purchase of the Hyde stock by any
individual group OF individuals in or out Of
the Equitable Society would be a moral wrong
and that such control could only be desired for
Interior purposes. Mr.. Schin has been assured
that Mr.. Hyde has thought of so dsposing
OF his stock and that the Hyde stock will be
sold into the Equitable treasury prior to the
carrying out Of the proposed naturalization plan
AS showing that the controversy is no longer
confined to the officers Hf the company, a move
rnent started Yesterday TO organize policy
holders protective association. E. s. Brown
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