Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-05

and which was almost an Inheritance
from my father.
"By this trust deed Mr.. Alexander
was not only charged with the obliga-
ton to thus care for my patrimony,
but he was solemnly adjured in that
deed (and he accepted the duty thus
imposed to exercise all possible influ-
ence with me, when / should attain the
age of 80 years, to induce me to re-
new and extend the trust, thus con-
tinuimg. as far as might be legally pos
sble, the control and administration OF
the Equitable society, initiated by my
father.
Reason for Alleged Cabal.
con the sixth day of June, 1906. l
will have attained (should live) the
age of 80 years. and 1 will then. sub
iect to my duty to my fathers eX-
pressed wish, have come into possess
sion of my stock. Thus, shortly before
the expiration OF that period. Mr.. Alex
ander, owing his existence as dlrec-
tor and officer OF the Equitable society
to his trust and to the stock conflded
to his care, has engaged in secret
cabal with officers under his command,
and in many cases subject to his CO.
ercion, to destroy the value of the sub
ject of his trust and destroy the repu-
tation and future of the beneficiary.
Mr.. Hyde stated he had never antag-
onized Mr.. Alexander in the selection
of Equitable directors, and that he
could not be justly charged by Mr.
Alexander with the usurpation Of any
| of his functions He also praised the
character of the present board.
! Then he wrote: There has been no
general claim or demand upon the
part Of policy holders in the line of the
present movement. There can be no
| long continued disguise of the true
purpose Of the present movement.
Its purpose is To transfer the selection
Of the directors Of the Equitable so
clety and its management, to coterie
OF men whose more immediate con-
tract with the policy holders would
place them in a favored position to OBJ
tain the proxies of the latter and Mr..
AleXander's gross breach of trust to
my father and to me, with which l
here solemnly charge him, has none
but the most specious pretext of high
motives.
Il shall not discuss any personal
|
have been charged is a sufficient rea-
son for me desiring to make the most
| absolute commitment, for an extended
| period, of the affairs of the Equitable
society to it's present high manage
ment."
| The letter closes with Mr.. Hyde's Of
! fer to transfer his stock to board of
trustees pending the adjustment Of
naturalization Plan.
President .Alexander's Letter.
| President Alexander's letter to State
Superintendent of Insurance Hem
bricks. written on March 81, was a
reply to that officials inquiry as to
Mr.. Alexander's attitude on the pro-
posed amendment to the Equitable
| charter. He says:
1.-THE proposed amended charter is a
compromise between opposing views
within the board Of directors. l was
| recommended by the special commit
tee of seven appointed to carry into
effect the resolution adopted on Feb
ruary 16 in favor of comforting upon
policy holders the right to elect direc-
tors of the society, Of which commit
tee l was a. member
| There was at the meetings of the
committee very explicit statement of
the supposed legal rights Of the stock,
and clear intimation that, IL forced
beyond certain point. the stock
might be depended upon to resist in
Its own interest the efforts to mutual
lie 3he society. I was convinced that
the concession embodied in the COM
mlttee's report was all that could be
obtained without controversy which
might have a very serious results
therefore reluctantly acquiesed in the
report. I acquiesced in the commit
tees recommendations, believing that
could not take the responsibility In
view Of the committees opinions and
| the probable action Of the board, in
| rejecting that measure of control and
1 participation that it secured to the
policy holders. I believed at the time
| that the amendment of the charter in
the manner proposed would not ex-
| haust the power of amendment con-
ferred by the insurance law, and that
when the inalequacy of the arrange
ment had been demonstrated further
amendment might be made Since
then / have been advised that my
views on this subject may have been
| erroneous.
II can not say, therefore, that the
proposed amended charter is satisfac-
tory to me-"
Denies AIexander's Charge.
The statement given out last night
in behalf of Mr.. Hyde by one of his
friends denied the charge made by Mr..
Alexander that Hyde had largely
usurped the powers and authority of
the president and quotes from the by
laws of the Equitable to show that
practically all the power of the sec
rotary is vested in the president.
The statement then takes up Pres
ident Alexander's letter Of March q
to the state superintendent of insur-
ance, with regard to which, he says:
ut is referred to by the friends of
Mr.. Hyde as. another proof of their
assertion that Mr.. Alexander has act
ed disloyally and in bad faith to his
board of directors.
ut will be recalled" continues the
statement, that he and Mr.. Tarbell
had joined with other members of the
naturalization committee. in recom-
mending the amended charter which
passed the board, and was forwarded
by the directors by unanimous con-
sent to the Superintendent of insurance