Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1905-04-21
Mr.. HYDE WILL NOT
TENDER RESIGNATION
Affairs of Equitable Assurance
Society Reach Crisis.
pEMANs MADE FOR A REcEtvEt

I
ceedings for ReceNership Under
Laws of that State-Mr. Hyde De
nounces Attitude of General Agents
New York, April 20.-Deyelopments
in the Equitable Life controversy. in
Guiding the engagement Of 10
seph H. Choate, as counsel
| for the general agents, the demand
OF the organization, for Mr.. Hyde's
| resignation, and the institution of pro.
| ceedlngs in Louisiana asking for re
| celEership for the society under that
Louisiana law, engaged the attention
today almost to the exclusi& of all
other topics, Mr.. Hyde made an ap-
pointment to meet today the commit
tee OF general agents appointed to de
mand his resignation. This commit
tee Was made up of Joseph Bowcs, OF
Baltimore; w. j. Roddy, of South Car
olina Frank G. Levy of New Orleans !;
Charles Jerome Edwards, of Brooklyn.
and Charles Wake, of New York.
While Mr.. Hyde agred to receive
this committee, he declared that he
had no intention whatever of resign.
ing, and that he regarded the action OF
the general agents in making such a
request as impertinent, extraordinary
insulting and most preposterous.
The demand by the agents for an
investigation and the action inaugur-
ated in Louisiana were regarded as
making critical a condition which al.
ready was extremely serious.
When the committee called at Mr..
Hyde's home at No. 9 East Fortieth
street, there were met by Mr.. Hdye
and w. H. Mcintyre Charles B. Alex
ander, w. G. CULVER and Alvin Kreich.
his advisors. The committee remained
in the house II minutes and returned
TO the Hotel Savoy without giving any
intimation of what occurred. A rep
resentative of Mr.. Hyde announced.
however, that stenographic report of
everything said at the meeting had
been made, and that an official state
ment would be issued by Mr. HYDE
later in the day.
The official statement given out by
Mr. Hyde, of his meeting with the
committee, follows:
'Mr. Rowes, as chairman of the
committee, said:
Il am charged, sir, with a somewhat
disagreeable task, the bearing to you
of a 1pnnpct from n n0pvon+io- 80
managers and agents now assembled
in the Hotel Savoy, that you voluntari-
ly resign your position as vice presi-
dent of the Equitable society. The fol.
lowing is the request of the conven-
tiOn:
James H. Hyde, vice president of
the Equitable Life Assurance Society
Of America:
"'We, the general agents and man
ayers OF the Equitable assembled in
convention in all parts of the Unite,
States and Canada, are personally and
through your agents, in close touch
with the people, and knowing the
deep-seated convictions of the policy
holders and deeply deploring the neces-
sity for our action, THEREFORE, sincerely
and earnestly appeal to you on behalf
of the Equitable, to the creation and
upbuilding of which your father devot-
ed his life, and for the sake of it's pol
icy-holders and it's agents, to set aside
all personal interests and now yoIun-
tarily retire from the vice presidency
Henry ]. Powell, Chm
" F. A. McNamee, Frank L. Levy. W.
K. Estes, Secretaries
Mr. Hyde's reply to the committee
was as follows:
In the first place, / have no inten-
ton of resigning the office of the vice
presidency of the Equitable. Such a
course | would consider cowardly and
disgraceful to the memory of my faith
er.
Second, it is evident from you ex-
traordinary request and the report OF
the proceedings at your meetings that
you have not the remotest concep-
tion of this unfortunate controversy
or the motives behind the selfish strug-
gle for the control of the society. /
think, however, that you are entitled
to know something of the real facts
on which my attitude is based and
will, therefore, write you tomorrow
in reply to the request made in this
remarkable communication. | think.
however, that your request might have
been far more justified had it been
made to those having no interest in
the society who precipitated this un-
fortunate controversy and are keep
ing the agitation alive to serve their
own selfish purposes. You will hear
further from me tomorrow.
"Of course, you gentlemen must
know that the questions at issue are
now in the hands of the department of
insurance and Mr.. Frick's committee,
who, / think, you will agree with me.
are the ones to judge. 1t is but fair
to them to say nothing further here
Il appreciate, how greatly you have
been afflicted through the misfortune.
but l tell you again that the best way
to bring about a satisfactory conclu-
sion for your men is to remain loyal
to the Equitable and not to do any
thing before the report of the investi-
eating committee. On reflection,
think that you will be able to see I'M
partially, and to Judge these matters
which now are the subject of contro
versy in our society"