Warren sheaf., 1905-06-08
Will hereafter
ACT IN unison
HEADS OF EQUITABLE LIFE DE-
eide TO FORGET DIFFER
ENCES, SAYS RUMOR.
HYDE AND ALEXANDER
COME TO AGREEMENT
Robert T. Lincoln May Head Board of
Directors - Excitement in Finan-
cial Circles-Report of Frick Com
mittee Rejected.

mittee Rejected.
New York, June g. James w. Alex
dnder and James H. Hyde, president and
first vice president of the Equitable Life
Assurance society, met Saturday, and, it
is understood, decided to forget their
differences and to act together hereafter
in Equitable affairs. The basis of their
agreement is said to have been that
they would now attend to life insurance
alone and keep Wall street out of the
affairs of the society. The two men
were in conference with certain of their
friends and advisers for over two hours
After the Hyde-Alexander conference
it was reported that they had agreed
upon Robert T. Lincoln as the manifest
fitted to assume the Craftsmanship Of
the board of directors. Confirmation of
this report was not obtainable.
Excitement on Wall Street.
. Not since the Great Northern Pacific
corner of four years ago has there been
so much excitement in financial cir
cles as existed on Saturday as
result Of Fridays developments in
the Equitable Life Assurance society's
affairs. A stirring contest for control
had been expected. but the vehement
debate in the directors meeting, the
bitter character of the defense made by
James H. Hyde and the designations Of
Messrs. Frick, Hartman and Bliss from
the societys directorate have created
a situation wholly unforeseen and in
dicating a new alignment of the forces
in high finance astonishing the general
public. According to the Herald, Mr.
Frick, in handing in his resignation
said he never again would sit as director
in any corporation of which Mr. Hyde
was also director.
Frick Report Rejected.
The directors of the Equitable on
Friday practically rejected the excori-
ating report Of the Frick committee,
only nine of the 40 men who attended the
boards meeting having recorded them
selves in test vote as favOring the doc
ument summarizing the result of the
investigation. T. ~.
AS result, Henry c. Frick, chairman
of the committee, and two other mem
bers, Edward H. Hartman and Cor
nelius N. Bliss, have resigned from the
directorate of the society, and the resig
nation of others of the committee prob
ably will follow. Frick, Hartman and
first two by Hyde of having entered into
a conspiracy to deprive him of his stock
and control of the society, left the meet
ing, as did also Melville E. Ingalls,, an
other member of the Frick committee.
Hyde Offers to Retire.
After the withdrawal of Hartman,
Frick and Schiff, Hyde remarked that
the society now was purged much more
thoroughly than it would have been by
his retirement, voluntarily offered to di-
vest himself Of the stock whereby he
controls the society. He had, he de-
clared vowed he would never withdraw
under fire, but he was ready under the
circumstances to make concessions. The
board availed itself Of the offer and
passed a resolution that Hyde be ere
quested within three months to divest
himself of the stock controlling the So
ciety on such terms and conditions as
shall be satisfactory"
The board also voted that chairman
of the board be created with plenary
power over all the departments and af-
fairs of the society
Hyde and Alexander United.
That the Hyde and Alexander forces
were allied in the meeting was evident
but that their purpose was anything 9TH
er than to thWart what they regarded as
a gigantic conspiracy is denied by both
sides. This, they declared after the
meeting, they had accomplished. That
the result of the meeting would end the
controversy between Hyde and Alexan-
Ger was the opinion expressed generally