The Saint Paul globe., 1905-04-22
Hyde Makes His Statement

NEW YORK, April 21.7James II.
Hyde tonight issued the following
statement in reply to the committee of
agents which waited on him yesterday:
The subject upon which you have ,ad-
dressed me involves the consideration of
the whole unhappy controversy which
mas been in progress for several months
past. The injurious effect Of that con-
froyersy upon your fortunes 1 appreciate.
In that controversy feel that have been
treated with great injustice, and that no
one has so serious cause for complaint as
l nave so far as any good results could
ficer responsible for the injury which
the society has suffered and is doubtless
to suffer in the future, your request is
misdirected.
willing to make for the welfare of the
society resent your misguided action
taken in utter ignorance of the true situ-
alton, of which-you cannot possibly have
accurate knowledge. Your request, per-
haps unwittingiy on your part, is merely
another move In the campaign of attack
originally devised When the real facts are
known to the policy holders believe that
all right minded men among them will
be as indignant as am with the methods
that have been employed by my enemies
for their own ends. I'm pursuing which
they have not hesitated to sacrifice the
best interests OF the society and to dis
regard the proper protection of the policy
holders. Your action instead OF fur
nishing a solution Of the present unfor-
tunate situation. renders the dificulty
more acute IL is regrettable that in this
situation the convention of managers did
not take advantage Of its opportunity to
become factor In promoting honorable
peace.
Opposes Agents Supremacy
can understand the desire of your body
for naturalization. but 1 do not believe
tnat system OF control which virtually
places the agents over the directors and
officers is sound in principle. AT the
nf lf1 I-l-
public controversy had arisen. II was
however, urged upon me that there was a
genuine desire upon the part of the policy
vote for directors. Therefore. notwith-
standing my own view on the subject
and In order to meet this desire of the
policy holders. and to give time for the
careful consideration of the proper method
OF bringing this about. offered to place
my stock in the hands of trustees for
nve years to be voted In accordance with
1 could hardly have given stronger evil
dence of my solicitude for the welfare OF
the society. This offer was not accepted
The authors OF the conspiracy made inn
possible demands. Finally although I
was advised by eminent counsel that the
power OF control of the stock could not
sent of its holders. either by the board or
by the legislature, consented. so far as
my stock interests were concerned that
the policy holders should elect twenty-
eight OF the ffty-two directors of the So
ciety. This concession was intended FOR
the benefit of the policy holders, but I'm
practical effect, as / then feared and now
believe, ii was the purpose that any con-
cessions by me should be utilized for the
benefit and account of the instigators OF
this movement. who proposed to erect a
constituency OF agents TO control the votes
OF policy holders This belief is con-
hrmed by the extraordinary proceedings
at your recent meetings In this city. In
which the power dominating the meetings
was quite apparent.
Means to an End
was told that these concessions which
had been secured from me because of
my loyalty 20 the society and on the
repeated assurances given by the board
OF directors and to me that they would
IL granted, be accepted as a complete
settlement. We're simply means to an
end. and that the warfare would go on
until should be forced out of Office and
the voting power OF the stock. which had
been expressly reserved. should be COM
pietely DESTROYED. 1t is evident that /
have been designedly tricked. Thus far
am the only person in this controversy
who has made any sacrifice. The others
have no such substantial interests in the
society and nothing TO lose by this war
/ fare against its prosperity.
l The matters you have assumed to act
upon are matters not for your Consideration
and correction. but matters solely for the