New-York tribune., 1905-03-15

amended charter as prepared by counsel
(Signed)
JAMES W. ALEXANDER. President,
JAMES II HYDE, Vice-President.
GAGE E. TARBELL I'd Vice-President.
EACH SIDE YIELDS A LITTLE.
This plan follows out the announcement made
by Mr.. Hyde at the recent directors meeting
that he would favor naturalization of the COM
pany. 1t is decidedly a less sweeping change
than the Alexander people wanted in the be-
ginning, when their demands contemplated the
retirement of Mr.. Hyde from the company. the
retirement OF the stock and the reorganization
of the Equitable on a mutual basis. in which
all the directors were TO be elected by the pol
icyholders. il is a more generous arrange
ment than the Hyde people willing to make
at the beginning of the controversy, when his
advisers counselled Mr.. Hyde TO turn down any
naturalization proposal. The proffer made by
mis- lawyers at the Philadelphia conference TO
allow half the directors to be elected by policy
holders was evidence of his devotion to the
interests of the Equitable. said of his friends
last night. which this agreement only bore out.
What effect this internal agreement will have
on the impending deluge OF legislation is not
certain but 1t seems probable that the bill which
the Crirnmins committee of policyholders in
tended 10 have introduced at Albany viii not
be presented. meeting of the committee will
be held to-day to discuss this phase of the
Equitable. tangie.
The action seems to me. personally to be
step in the right direction" said Mr. Crimmins.
land 1 think it would be a fair thing let it
have years trial. 1t is getting near the end
of the legislative session at Albany. and It would
be hard to put our bill through now. We could
have done so if this action had not been taken.
but now that form of naturalization has been
conceded, it would be hard to force the bill
through.
What has been done Is not all we wanted.
but it is good far it goes. We afford
to give it a years trial But I cannot speak
for the committed which will decide TO morrow
what is best TO be done'
The Alexander light in the Equitable
has been going on for long time apparently
without resistance on the part of Mr.. Hyde, who
hardly knew that attempt being made
to Gust him until just before the recent cleo
tion, when petitions sent out asking that
he be not reelected, and that the company be
mutualZed Then began vigorous fight, which
resulted n a quasi-reconciliation at the meet
ing, where the old officers elected for
other term, ana the naturalization committee
named.
The differe nces were so strong in the COM
mittee. though that It prophesied by men
close to both sides that compromise out of
the question and the most logical thing would
be a majority and minority report, when the
time limit up. Each side feared though.
that the Equitables business would suffer be-
of the internal dissensions and when,
after few meetings of the committee, conces-
sons made by the Hyde side. the Alex
ander people that 1t would be better to
concede a few things also, and the diplomacy Of
the great staff of lawyers on both sides brought
about the present scheme. In that result the
County. was believed to have played an impor-
tant part.