The Birmingham age-herald., 1905-04-16
Hvde Addresses Warm Letter
 to H. U Trick
ALEXANDER SAYS ITS UNTRUE
Both Men Say They Are Cruelty Wronged By the Continued News paper Comment That Is
 Being lnduIeed In.

the following letter today;
 New York. April 15 1905. III c. Prick, Esq, Chairman Of lnvesti- gating Committee of the Equitable Life Assurance Society:
 Dear Sr-Your committee has enjoned me and all the officers of the society from discussing in the public press matters covered by your proposed investigation. and it has been impressed upon all of Us that the daily publication of scandal may gravely njure the societys business. have absolutely kept faith in this mat ter but 1 will no longer suffer the con- sessions which l have made for the bene- fit of the policy holders and the society. and the steps which l have voluntarily taken to be misrepresented and distorted in the public press by those who have not K.pt faith and will never keep faith.
 This mornings papers contained eer- tain statements about me which arc de- signedy misleading, and essentially false. l therefore propose to make the facts known. They are as follows.
 Grave Charges Made.
 At the outset of the present Equitable controversy l was charged with hav- ing been a party to various underwrit- ing syndicates known as James H. Hyde and Associates where particlpations has been taken, and where it was claimed the underwriters had made profit by the use of funds of the Equitable society.
 No such profit had in fact been made by the use of the funds of the Equitable, but there had been a syndicate known as James H. Hyde and Associates, includ- ing James w. Alexander, president of the society Cwhose participation was al- ways equal to my own, and this syndi- cate had been underwriters of a number of banking issues of securities, and the Equitable society purchased in some in- stances in the ordinary course of business securities which had been underwrtten by this syndicate.
 At the outset of this controversy Mr James w. Alexander and I were both advised by counsel that as to any such syndicate transactions in which any of ficers of Equitable Society had been in- terested a full statement should be made up. and laid before the board of directors. and whatever law and justice required regarding them should be done by the of- hcers concerned.
 Deposited His Profits.
 Following the advice referred to l ex- tended all these syndicate transactions and deposited my check for $Gl ,4i692 with the treasurer of the society as trustee. This amount represented my entire profits from syndicate transa ctions of the char acter above mentioned with per cent in- terest up to the date of such deposit This deposit was accompanied by the state ment that l made it because l prefer red to have any question about this mat ter settled with the money under the control of the society and this deposit was made for the benefit of the society: if the board of directors thought ,ae money should be retained by 1t or returned to me if 1t should be determined that l was entitled to It.
 ''In other words this money was depos- tied to be disposed of as the property of these transactions might be finally de- termined. l made no restitution l ad- mitted no wrong doing. l admit none now. I merely put the society in the position to make Itself good, so far as was concerned, if it should be deter mined by the proper authority that trans actions of mine. innocently made made with the sanction of universal precedent made with the approval and following the example of the president of the so- ciety made without the concealment of any facts, and made without intent to injure the society, and with no such in- jury as their result. raised a situation further techncally or substantially en- titllng the society to profits to which supposed and now believe were legiti- mately mine.
 Concessions Are Misconstrued.
 My concessions have been deliberately misconstrued, my silence has been mis- represented and the self-seeking persons who have prepared the present trouble and who. making as friends of the policy holders arc striving to deprive me of my property and to secure for themselves continued control of the society, persist in violating faith and in publishing and connivng at the publication of attacks on me, supported by garbled extracts from the records of the society. including the correspondence of the president to which these persons have or are given access.
 ''I shall do all in my power out the amended charter giving he policy holders the selecting of the majority of the board Beyond this. l will make no further con ccssion from my legal rights, and 1 shall as well as l can keep the rights l have reserved
 You shall have my earnest cooperation in making your investigation searching. and It's result full and honest But you daily attacks in the newspapers, or put me at liberty to make my own defense id my own way.
 "I have to request that you cause this communication to be published. Other wise 1 shall be compelled to secure it's publication.
 '1 am, very respectfully,
 JAMES H. HYDE"