Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-06-03
ALEXANDER AND HYDE BOTH oP.
POSE FRlck COMMITTEES
REPORT.
1T MAY BE VOTED DOWN
Since 1t Favors the oustIns OF Both
the Leaders in the Fight Which Has
Been So Bitter 1t Brings Them To-
sether in Opposition to its Adoption.

Nl = 4
New York, June "A new align
ment Of the parties concerned in the
controversy in the Equitable Life AS
surance society appeared to have
been established today when the di.
rectors' meeting began. 1t was gen.
orally expected that the directors
either would decide to make public the
report of the Frick investigating COM
mittee with the resolution that Its rec
concentrations be carried into effect,
or that number of the directors
would resign.
Enemies Join Against Committee.
A friend Of Vice President Hyde to-
day gave out a statement to the effect
that the report would probably be
voted down. This plan, 1t was said,
had the support of President Alexan-
der, who heretofore had opposed Hyde.
Substance Of Report.
The report Of the Frick committee
which consists of forty-two pages of
printed matter, contains the following
radical declarations:
First-It practically demands the re-
moval Of President james w. Alexan
der, First Vice President James H.
HYDE, and Second Vice President Gage
z. Tarbell.
Second-It declares that every Off
Ger and director Of the Equitable So
ciety who prof1ted in any way as q
member of the James n. Hyde and
associates" syndicates must pay back
into the treasury of the society .every
dollar he made at the expense of the
policy holders. 1t declares that If any
of these guilty officers refuse to re-
fund this, money the Equitable should
compel restitution by suits.
Third-1t declares that stha Office of
| President Alexander has been man
aged with laxity and negligence and
should be thoroughly reorganized.
Fourth-It charges that Vice Presi-
dent Tarbell has conducted his Office
with waste and extravaganza, and that
his department should be reorganized.
NJ charge Of dishonesty is made
against Mr.. Tarbell.
Fifth-It condemns the salaries OF
SIZES paid to James H. Hyde by the
Equitable Life and Its subsidiary COM
panies, the Mercantile Trust and the
Equitable Trust, and censures system
| that has prevailed in Mr.. Hyde's office
by which his personal clerks receive
| salary advances sometimes as high as
| 250 per cent.
Sixth-It declares that the entire
business of life insurance should be
thoroughly reorganized in the interest
of its beneficiaries, the policy holders
! Waste Is Rampant.
Seventh-It finds that waste and ex-
travagance, if not peculation, have ex-
listed in practically every department
of the Equitable society.
Eighth-It declares that between
$10,000,000 and s20,000,000 have been
deposited in different institutions TO:
the personal use of certain officers OF
the society.
Ninth-It declares that secret agree
| ments have been made among certah
officers to purchase large lots Of bonds
and that other secret agreements have
| been made to sustain the price Of thest
| bonds after the purchases were made.
/ Tenth-It condemns settlements o1
various suits that have been brough
/ against certain directors of the society
with the money of the Equitable II
connection with the settlement of tn,
suit brought by former Governor B. 3
| Odell, Jr for his losses in the secur.
! tiles in the United States Ship build.
| ing company, it was declared this wa.
done to crafty the private ambition
OF certain directors.
Eleventh-All Of the charges O
wrongful misuse of the Equitable.
money against Mr.. Hyde, such as tn,
S12,500 paid for the Cambon dinner, ar.
gone into with great detail and con
!! demred.
1 Twelfth--It finds that extravagan
charges for travelling expenses wer,
made by both Mr.. Hyde and Third Vic,
President George T. Wilson. the for
mer putting in bills for $4,000 and tn,
latter for 100000, a total for the twt
men Of 100000.