The sun., 1905-04-01
ULTIMATUM SERVED ON HYDE.
RESIGN FROM the EQUITABLE
OR M INVESTIGATED.


MIR. Alexander Wnl Demand q state
Inquiry into Hls Management.
For three hours yesterday representatives
ofaltbe fact ions invo lved In the controversy
over the control OF the Equitable Life Assur-
anoe Society we're in conference with Fran
Cis Hendricks, State Superintende of
Insurance, in his office on the twelfth floor
OF II Broadway. Supt Hendricks had
called the meeting with the idea Of bring
ing about a commomise plnn Of mutuah-
gation Of tho company.
II proved anything but a peace meeting,
The warmest accusations were exchanged
tCtween the Hyde faction In the Equitable
and its oppon6 nts till Supt. Hendricks
finally adjourned the meeting.
Ona Of the Iunors in circulation last
night was that at the feigEt Of the angry
discussion President Alexander made a
forma4 demand on James Hazen Hyde,
first ice-president and holder Of the con-
troll of the society for his immediate resig-
nation, and served notice upon Mr.. Hyde
that II he did not comply with the demand
forthwith. he (Mr AlexandeT) would at
once apply TO the Attorney-General Of the
State to investigate the management Of
the society while under Mr.. Hyde's control.
The rumor had II that after bitter debate
IN which Mr.. Alexander and his friends
adhered to this demand, Mr.. Hyde decided
TO give them an answer when the meeting
Is resumed. This will be at II o'clock
to-day.
It was impossible to obtain confirmation
or denial OF this rumor, Indeed, none Of
those who took part in the conference
would talk for publication Of what had
occurred there. II was admitted that the
discussion was not altogether harmonious.
but that was as far as any Of the conferees
would go.
I'VE have agreed to say nothing one
Of them declared. n
The meeting was called for 1890 o'clock.
Vice President James Hazsn Hyde and
President James W. Alexander Of the Equi-
table were both present Each was repre-
sented by counsel and each also had with
him a member Of the society's board Of
directors who was favorable 10 his interests
in the controversy. Mr.. Hyde was repre-
sented by Elihu Root as counsel. and PTesi-
dent Alexander by eX-Justice William n.
Cohen. With Mr.. Hyde was F.. H. HarH-
man, and with Mr. Alexander, Cornelius y.
Bliss. The policyholdeTs' committee was
represented by John d. Crimmins, It's
president, Henry Morgenthau and T.. W.
Bloomingdale, with Frank II. Plat as
counsel. None of these would even hint at
what had happened in the supenntendent's
ofice.
what occurred il sacred, so far as we are
concerned, said ex-Judge Cohen, speaking
for President Alexander.
There /, i,absolutely nothing 10 be said
WAS Mr.. Roots reply for Mr.. Hyde.
MY lips are sealed for the present,
said pit. Hendricks. When a reporter
tried TO question Mr.. Hendricks further.
one Of the lawyers who accompanied the
superintendent threatened to call police
man.
Senator Depew did not attend the con-
ference. He readily admitted that nothing
had been accomplished, but would say no
more.
Immediately after this conference there
was a poWwow OF the Hyde forces in the
Equitable Building. This was attended
by Mr.. Hyde Mr. Root. william c. Gull
liver, Mr.. Hydes personal counsel, SEN
ator Depew and others. None OF these
had anything to say to the public about
the result Of their talk.
II was not long after the conference
had broken up before reports OF the hot
time there had begun to circulate
What was directly responsible for the
outbust between the factions none OF
the men who took part in the conference
would say. That there had been much
unpleasantness in the meeting at least two
admitted. These said that there was
general discussion and. offered the ex-
planation that it was not at all eItraor-
dinary, IN gathering representing 80 many
different ideas that there should be some
bitterness.
- hof n Taf NIL %
Of the Crimmins committee went into the
conference in anything but a harmonious
mood. They had had a split In their own
ranks, involving a serious difference Of
opinion between Mr.. Crimmins, chairman
Of the committee, and most OF the other
members. Mr.. Crimmins, il was said,
had declared himself in favor Of accepting &
the latest concessions offered by the Hyde
rArtv, thirty-three Of the ffty-two direc-
tors to be elected by the policy yholders,
and allowing the process OF naturalization
to extend over two or three years. Most
Of the other committeeman insisted that
the beard be mutualized at once.
With Mr. Crimmins there lined up the
HYDE forces, represented by Mr.. Hyde,
Mr.. Root and Mr. Hartman. Mr.. Alex
ander, his counsel and Mr.. Bliss stood with
the other faction In the policyholders'
committee
Meantime, following the admission from
the Hyde interests in the controversy
that Mr.. Hyde paid the expenses OF the
dinner given by him three years ago 70
NJ. Jules Cambon, the French Ambassador.
out Of the funds Of the society, came another
revelation yesterday by man familiar
with the working Of the society. Accord
ing to this man, Mr.. Hyde has also carried
certain Of his friends, employees and
servants on the payrolls Of the society.
This man said that only the surface Of the
Hyde control Of the Equitable has been
scratched 80 far and that should lie workings
be laid bare by a thorough Investigation,
things will be disclosed that will amaze
polioyholders.
The man who told Of Mr.. Hyde and the
Equitable payroll put Il in this way: There
is pretty we'll substantiated rumor that
many Of Mr. Hyde's associates, personal
employees and servants are on the Bquit-
able payroll. In fact,l think I can say