The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-03

The directors Of the Equitable Life Assur.
ance Society practically rejected yesterday
the report OF the Friok investigating com.
mittee. only fourteen Of the forty men who
attended the boards meeting having re-
corded themselves in test vote as favoring
the report.
As a result Of this Henry c. Frick, the
chairman Of the committee and two other
members, Edward b. Hartman and Cor
neGus n. Bliss, have resigned from the
directorate of the society, and the resigna-
ton of others on the committee will prob
ably follow,
Mr.. Frick, Mr.. Hartman and Jacob Fl.
Schif, who was accused with the first two
by Mr.. Hyde Of having entered into con-
spirscy to deprive him Of his stock control
Of the society, left the meeting, as also did
Melville E. Ingalls,, another member Of the
Prick committee.
After the withdrawal of Hartman, Prick
and Schiff, Mr.. Hyde remarking that the
society was now purged much moro thor
oughy than it would have been by his
retirement, voluntarily offered to divest
himself Of the stock control Of the society.
He had. be declared, vowed that be would
never withdraw under fire. but he was
ready under the circumstances to make
concessions. The board awaited itself Of
the offer, passing resolution that Mr..
Hyde he requested within three months,
to divest himself Of the control Of the stock
OF the society on such terms and conditions
as shall be satisfactory
The board also voted that chairman
of the board be created. with plenary
power over all departments and affairs OF
the society. committee Of seven was
named to nominate candidate and report
his name to the board at an adjourned
meeting next Wednesday. The board also
recommended that the executive committee
of the board he recognized.
MEETING ONE CONTINUOUS uPRoAR.
The meeting was the storrniest of its kind
OF which Wall Street has any record. Per-
sonalitie were dealt in, and for more than
two hours in the afternoon session the board
was practically in continuous uproar.
Mr.. Hyde accused Mr.. Hartman Of hav-
ing entered into a conspiracy with Jacob
H. Schiff and Mr.. Frick and others to de-
prive him Of control.
He spoke in the plainest kind Of words.
He declared before Mr.. Harriman's face
that he (Harriman) had promised him
immunity from the charges that had been
made against him and had thrown him over
in an effort to promote his own selfish in
terest. He declared further that Mr.. Har-
rlman only recently had made him "ridicu-
lousy low offer for his stock. To these
charges Mr.. Hartman attempted to reply.
but lost control Of himself completely and
shouted out:
HARR1MAN's 'wow-wow-wow.'
sWow-wow-wow.'
That the Frick and Alexander forces
we're allied in the meeting was evident,
but that their purpose was anything other
than to thwart what they regarded as
gigantic conspiracy was denied by both
sides. This. they declared after the meet
ing. they had accomplished and in doing
40 had conferred an inestimable benefit on
the Equitable society. Members Of the
Frick committee, on the other hand, de-
clared that the action Of the board toward
their report was little less than traitorous.
1t represented. they said, merely an effort
on the part Of those who had been hit hard
by committee which they themselves
had authorized to investigate to shrink
away from publicity and prevent the con-
sequences which their misdeeds ought
rightful]y to bring upon them.
Instead Of comforting upon the society
a benefit the directors in this league, mem.
hers Of the committee declared, have struck
the Equitable blow from which 1t may
never recover. They branded the whole
performance as "disgusting.' They con-
sidered the resolution to the surrender by
Hyde Of his stock control as insincere and
disin genuous, and they declared that Tho
creation Of chairman OF the board under
present circumstances would merely result
in the perpetuation OF the present regime
That the result Of the meeting would. how
ever, end the controversy between Hyde
and Alexander was the opinion expressed
generally.
CROWD WHEN THE DIRECTORS GATHERED.
The meeting was called to order at II
o clock In the morning At that time the
corridors of the Equitable Building were
thron ging with people. the most Of them
there on business connected with the meet