New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1905-06-07

HEADS OF EQUITABLE LIFE DE-
eide TO FORGET DIFFER
ENCEs, SAYS RUMoR.
HYDE AND ALEXANDER
COME TO AGREEMENT
Robert T. Lincoln May Head Board of
Directors - Excitement in Finan-
cial Circles-Report of Frick Com
mittee Rejected.

New York, June S. - James w. Alex
dnder and James H. Hyde, president and
first vice president of the Equitable Life
Assurance society, met Saturday, and, it
is understood, decided to forget their
differences and to act together hereafter
in Equitable affairs. The basis of their
agreement is said to have been that
they would now attend to life insurance
alone and keep Wall street out of the
affairs of the society. The two men
were in conference with certain of their
friends and advisers for over two hours
After the Hyde-Alexander conference
it was reported that they had agreed
upon Robert 7. Lincoln as the manifest
fitted to assume the craftsmanship of
the board of directors. Confirmation OF
this report was not Obtainable.
Excitement on Wall Street.
Not since the Great Northern Pacific
corner of four years ago has there been
so much excitement in financial cir
cles as existed on Saturday as a
result of Fridays developments in
the Equitable Life Assurance society 5
affairs A stirring contest for control
had been expected, but the vehement
debate in the directors meeting, the
bitter character of the defense made by
James H. Hyde and the designations Of
Messrs. Prick, Hartman and Bliss from
the society's directorate have created
a situation wholly unforeseen and in
oil ON Of
in high finance astonishing the genera
public. According to the Herald, Mr.
Prick, in handing in his resignation
said he never again would sitas director
in any corporation of which Mr.. Hyde
was also a director.
Prick Report Rejected.
The directors of the Equitable OF
Friday practically rejected the eXcOri
| ating report of the Frick committee
| only nine of the 40 men who attended tn
boards meeting having recorded them
selves in test vote as favoring the doc
ument summarizing the result of tn
investigation.
| AS result, Henry c. Prick, chairman
of the committee, and two other mem
| bers, Edward H. Hartman and Cor
| nelius N. Bliss, have resigned from TIL
directorate of the society, and the resig
nation of others of the committee prob
ably will follow. Frisl1, Hartman an,
| Jacob H. Schiff, who is accused with tn
! first two by Hyde of having entered int
conspiracy to deprive him of his stool
and control of the society, left the meet
ing, as did also Melville e. ingalls,, an
other member of the Frick committee
Hyde Offers to- Retire.
After the withdrawal of Hartman
Prick and Schiff, Hyde remarked tina
| the society now was purged much NOR
| thoroughly than it would have been b
his retirement, voluntarily offered to d.
| vest himself of the stock whereby.
controls the society. He had, he dc
! clared vowed he would never Withdraw
under fire, but he was ready under tn
circumstances to make concessions. Tn
board availed itself of the offer an
passed a resolution that Hyde be ere
quested within three months to dives
himself of the stock controlling the sc
ciety on such terms and conditions a
shall be satisfactory"
The board also voted that a chairma
of the board be created with plenar
power over all the departments and al
fairs of the society
Hyde and Alexander United.
That the Hyde and Alexander force
were allied in the meeting was eviden
but that their purpose was anything otl
er than to thwart what they regarded q
a gigantic conspiracy is denied by bot
sides. This, they declared after th
meeting, they had accomplished. Ths
the result of the meeting would end til
controversy between Hyde and Alexal
i der was the opinion expressed general: