New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-03
J. ". ALEXANDER'S REPLY
ATTACKS JAMES II. HYDE.
EquitabIe's President Defends His
Acts as Trustee.

The assertion that James Hazen Hyde never
had gone into any underwriting syndicate IN
which President Alexander of the Equitable
Life Assurance Society was not an equal
participator the latest contribution to the
underwriting literature yesterday. The Frick
committee, when it got to investigating that
phase of the Equitables difficulties, would find,
said one of Mr. Hyde's friends, that the un-
derwriting transactions. which had been going
on for many months, would concern Mr.. Hyde
and Mr.. Alexander equally
"Ndr Hyde never went into a deal without
setting aside exactly the same amount of stock
for Mr.. Alexander" said his friend. and Mr..
Alexander when he went into deal, always
apportioned to Mr.. Hyde exactly the same Sc
curities Is were allotted TO him"
Emphatic denial was made yesterday by
James W. Alexander. through his secretary and
by his lawyers that he had been askeQ % re-
sign as president of the Equitable by the Frick
committee Assertions equally emphatic came
from the Hyde side that pressure had been
brought to bear on Mr. Alexander from several
individual sources, urging him to resign his
place in the interests of harmony
WORK OF THE FRICK COMMITTEE.
The Frfck committee met again secretly.
Senator Knox, counsel to the committee, was III
the city and kept in close touch with Mr.. Frick.
While the committee meeting the story
grew that at Mondays session. when President
Alexander appeared before the body the ad-
visibility of his retiring vas urged on him
strongly. He could hold office at best only
short time, and if his continuing to hold it
would keep alive the controversy which was
hurting the Equitable badly, it would be in
keeping with his duty to the Equitable to retire,
the arguments ran, according to the story.
At first Mr. Alexander refused to deny this
story at all. Later his secretary was en-
powered to say that there was no truth in the
statement that the Frick committee had advised
his retirement. and that he did not intend to
tire" One of his friends went further
AT no time has there been from a&y quarter
anv suggestion that Mr.. Alexander should re-
tire" said he He does not intend to retire.
he does not acknowledge that there is any diff
c,,1tv in the Equitable OF which he is the cause"
The report that Mr.. Alexander was to get
OFT was followed by a conference between him
and his lawyers lasting most of the afternoon.
William B. Hornblower. ex-Judge William N.
Cohen and AIessrs. Alexander and Colby all met
in the Offices of Batnbridge Colby in the Equ
table Building, where they went over the situa-
tion carefully Afterward it said that no
special significance attached to the meeting.
MIR ALEXANDER ANSWERS MR.. HYDE
In reply to Mr. Hyde's amended petition in
the Lord action Mr.. Alexander has filed with
Justice Maddox some new atf1davits Mr.. Hydes
latest affidavit contains much that. as 1 am
advised by counsel, is wholly iInrlaterial. inn
nertinent and scandalous.' says Mr.. Alexanders
afidavtt with the addition that the presenta-
ton of Mr. Hyde's new papers is "manifestly
for no legitimate purpose
Il have declined to be drawn into any con-
troversy with regard to matters which 1 am
advised are of no relevance," goes on Mr.. Alex
ander but 1 do not intend to permit the un
founded assertions of this affidavit to pass with
ont contradiction" He adds:
The allegation in the affidavit Of Mr.. Hyde that
since the beginning of this action Mr.. TarbeH and
myself have in violation of any agreement or OF
any pledges renewed any agitation 10 take away
stock the rights reserved to II by an al
legged agreement of all the parties Is absolutely
false Pursuant the resolution OF the board or
directors adopted a meeting held on April %,
iq0= M which the pending amended charter was
adopted G. B. Alexander. Cne OF the counsel for
the society. has l am informed done all IN MS
power to procure the approval by the Superlntend-
ent Insurance of the proposed amended chaIlef,
Tor which charter James H. Hyde voted and 10
which he ssseuted. / advised that the coun-
eel whom as president of the Equitable Life As.
sIrance Society | instructed to take charge OF
and defend this action on behalf OF the deIehddht
societv has urged upon the court In the strongest
nossihle way the denial of Injunction restrain
ing the hnal approval of said charter
DENIES DERELICTION AS TRUSTEE.
In another afdavit Mr.. Alexander takes up
the statement read by Mr.. Hyde to the directors
IN which he told Of the difficulty between him
selr and the president. Mr.. Alexander says: