The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-02
HYDE ASKS DRASTIC
INVESTIGATION
Vice President of the Equitable
Puts Forth a Peppery
Statement

NEW YORK, April AFTER a con-
ference of five hours in the New York
office OF State Superintendent of In
surance Hendricks. at which were
present representatives OF the various
interests I'm the Equitable Life assur-
ance society controversy, two official
statements were issued, one which sug-
gested solution Of the difficulties, and
a second by James II. Hyde, first vice
president OF the society. who declared
that he had requested the state insur-
ance department to make thorough
and drastic investigation of the entire
management of the society"
At today's meeting were present
Supt. Hendricks. E. H. Hartman.
James H. Hyde. John d. Crimmins.
Henry Morgenthau, E. w. Blooming
dale and these attorneys representing
various interests: Elihu Root, w. C.
CULVER, Edward Lauterbach, Frank
ii. Plat. John B. Stanchfield, Judge w.
III. Cohen and cambridge Colby.
Make Four Vacancies
1t was at the conclusion of a long
session that the first OF the statements
came out 1t says:
At conference held before the super
intendent of insurance, the Crimmins
committee. representing policy holders in
the Equitable assurance society, submit
ted for his consideration the following
in the directory at the ratio of 2S to "a.
one-half to be elected In 1905 and the
other half in 1906, the two existing va
cancies In the board OF directors to be
filled by men whose names were to be
proposed by the policy holders commit
tee These two names. as suggested by
the policy holders committee, were to
be put upon the executive committee,
which consists Of twelve members. 1t
was suggested that two additional names
Tor members OF the executive committee
should be designated by Cornelius N.
Bliss. In order to secure four vacancies
TO enable the policy holders committee to
have two representatives and Mr.. Bliss
me, TWO 30 others suggested II was suggested
should designate the four who should re-
tire from the present executive commit
tee: The counsel for the Equitable So
ciety. Mr.. Root. stated that he would rec
ommend its acceptance to the board OF
directors.
Hyde's ReJoinder
Mr.. Hyde's statement follows:
ITO the agents and policy holders OF
public press for several weeks past has
been filed with scandalous charges re-
garding. my conduct as a director and Of
charges are false. They have their origin
in an effort by individuals to obtain con-
troll of the Equitable society and its as
them and to have their falsity established
In the newspapers and as the only way
to meet them 1 have requested the SUI
perintendeDt of the insurance department.
OF New York to make thorough ana
drastic investigation Of the management
of the society.
AS to the granting Of participation in
the control of the society to policy holders
i have ever since the subject was first
preached expressed my willingness to have
the stock left by my father voted by the
trustees in whose hands he left Ii and OF
granting such participation, and on that
board OF directors of the Equitable soci-
ETY., with the New York policy holders
committee and with the superintendent OF
insurance Of New York. 1 do not control
father founder of the society, is held by
trustees. OF whom the president OF the
society, James w. Alexander. is one The
only power Of that stock is to elect d.
rectors, and as to that no question has
ever arisen between the trustees and my
self since my fathers death.
Limit Of Hyde's Power
The Equitable society is governed by
a board OF directors. most of whom were
elected before my fathers death and be-
fore l was OF age: They are body Of
ing In the community. 1 have no official
power in the society except such as the
president Of the society chooses to give
with the concurrence and for the benefit
OF the society itself.
The management OF the society during
the brief period Of my connection with
in the highest degree beneficial / chal-
lenge the fullest investigation OF that
Continued on Thirty-seventh Page