Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-20
THE EQUITABLE CASE
Primo. pal Topic of Discussion
in New York Today.
HYDE WILL NOT RESIGN
SITUATION IS RAPIDLY ASSUM-
ING THE ACUTE STAGE.
Action of General Agents and Receiver
ship Proceedings Haking Affairs
Cr;t;ca1-Hrde's Cfafoment
HYDE WILL NOT RESIGN

the engagement of Joseph II. Choate as
| counsel by James II. Hyde the demand
of the organization of general agents for
Mr.. Hyde's resignation and the institution
OF proceedings in Louisiana asking for a
receivership for the society under the
Louisiana law. engaged public attention to-
day almost to the exclusion of other topics.
Mr. Hyde made appointment yesterday
to meet today the committee of general
| agents appointed to demand his resignation.
This committee was made up of Joseph
Bowes of Baltimore. w J. Roday OF South
Carolina. Frank c. Levy of New Orleans.
Charles Jerome Edwards of Brooklyn and
Charles Wake of New York.
| While Mr.. Hyde agreed TO receive this
committee, he declared that he had no in
, tention whatever of resignng, and that he
regarded the action of the general agents
in making such a request 'impertnent.
extraordinary, insulting, and most pre-
posterous.
The demand by the agents for an in
vestgation and the action inaugurated In
Louisiana were regarded making critical
a condition which already was extremely
serious
When the committee called at Mr.. Hydes
home at . East 10th street they were
met by Mir. Hyde and w. II. Mcintyre.
Charles b. Alexander. w. c. CULVER and
Alvin Krech his advisers. The committee
remained in the house twelve minutes and
returned TO the Hotel Savoy without giving
any intimation of what occurred. A repre-
sentative of Mr.. Hyde announced, however,
| that stenographic report of everything
said at the meeting had been made, and
that official statement would be issued
| by Mr.. Hyde later III the day.
Hyde's Official Statement.
The official statement given out by Mr.
Hyde of his meeting with the committee
follows:
Mr.. Bowes. as chairman of the committee,
SAID: Il am charged sir, with somewhat
disag agreeable task the bearing to you of a
request from a convention of managers and
agents now assembled in the Hotel Savoy
that you voluntarily resign your position as
vice president of the Equitable. Following
is the request of the convention:
James H. Hyde. vice president of the
Equitable Life Assurance Society of Amer
lea: We, the general agents and managers
of the Equitable. assembled in convention
from all parts of the United States and
| Canada, are personally. and through our
agents, in close touch with the people ana,
knowing the deep-seated convictions of the
policy cyholders. and deeply deplorins the ne
| cessty for our action therefore sincerely
and earnestly appeal to you, on behalf OF
the Equitable. to the creation and upbuild-
ing of which your father devoted his life,
and for the sake of its policyholders and
its agents, to set aside all personal inter
ests and now voluntarily retire from the
vice presidency. (Signed) Henry j. Powell
Chairman; f. A. McNamee, Frank l. Levy
and J. w. Estes. Secretaries.
Mr.. Hydes reply TO the committee was
as follows:
I'm the first place, l have no intention Of
resigning the Office of the vice presidency
of the Equitable. Such a course | would
consider cowardly and disgraceful to the
memory of my father.
Second. 1t is evident from your extraor-
binary request and from the report of the
proceedings at your meeting that you have
not the remotest conception of this unfor-
tunate controversy or the motives behind
the selfish struggle for the control of the
society. / think, however. that you are
| entitled to know something of the real facts
on which my attitude is based, and L WILL
therefore, write you tomorrow in reply 10
| the request made in this remarkable COM
| munication.
Il think. however, that your request
| might have been far more justified had it
| been made to those having no interest in
the society who precpitated this unfor-
| tunate controversy and are keeping the
| agitation alive to serve their own selfish
I purposes. You will hear further from me
| tomorrow.
The Question at Issue.
| ''Of course. you gentlemen must know
that the questions issue are now in the
| hands of the department of insurance and
| Mr. Frick's committee. who, l think you
| will agree with me. are the ones to judge.
| 1t is but fair them say nothing
further.
Il appreciate how greatly you have been
| afflicted through this misfortune, but tell
you again that the best way to bring about
| a satisfactory conclusion for your men is
to remain loyal to the Equitable. and not
to do anything before the report of the
| investigating committees. On reflection 1
think that you will be able TO see impair
TALLY and to judge these matters which
now are the subject of controversy in our
society.
| Mr.. Hyde and his secretary received the
committee alone, his lawyers and advisers
| having left the house just as the commit
tee entered.
Not Offered an Office.
E. A Woods general agent of the Equita-
BILE in Pittsburg. said today it was not true.
as reported that he had been offered a
vice presidency in the society in return for
support to Mr. Alexander and Mr.. Tarbell. .
| Mr.. Woods also said:
i ut has been claimed that Mr.. Alexander
| in his efforts to bring about mutuaIiza ton,
was Influenced by the fact that he would
control the proxies of the policy holders.
The public evidently does not know the
| proposition Mr.. Alexander made to the So
called committee of eleven. Mr.. Alexander
| told them he would agree to have the
| proxies of the policy holders sent to and
deposited with President Roosevelt Grover
| Cleveland or the presidents of any six Amer
lean universities. In the presence of Mr..
| Alexander. Mr. Tarheu announced this
from the platform at one Of the meetings.
Argument Adjourned
Justice Mclean. in the supreme court. to-
| day adjourned until April 2i the argument
| in the suit brought by Henry G.. Tull. a
| policy holder of Philadelphia, for an in
| junction to restrain the Equitable Life As
surance Society. its directors and the state
superintendent of insurance from taking
| further proceedings regarding the proposed
| amendment to the charter of the Equitable
1 Life Assurance Society.
| An attorney for James H. Hyde said to-
| day the report that Elihu Root had retired
from his place as one of Mr.. Hyde'g coun-
| sci was erroneous. Mr.. Root continues 40
one of Mr.. Hyde's advisers, and the retain-