The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-06-06

New York, June 3.-Overshadowiag
in interest all the other sensational
developments in the affairs of the
Equitable Life Assurance Society, at
tendant on the rejection by the direc-
tors yesterday, and the publication TO-
day of the report of the Frick commit
tee, comes an announcement that the
controversy between President James
w. Alexander and Vice President
James H. Hyde, is at an end, and that
these two gentlemen have concluded
defensive and offensive alliance The
basis of this agreement is reported TO
be that they should in future devote
themselves to the interests Of life IN
surance and keep all Wall street en-
tanglements out of the affairs of the
Equitable.
Mr.. Alexander and Mr.. Hyde were
in conference today with certain Of
their friends and advisors for mora
than two hours. Deep interest at
taches to the result of the unexpected
turn of affairs, the general inference
being that it portends a very deter
mined effort to reconcile the interests
of the warning factions, and re-estab-
lish the direction of the society On. q
basis acceptable to all. 1t was also
| made evident today that there is scant
probability that the resolution OF the
directors yesterday to create the office
of chairman Of the board with pie
nary power over all departments and
| affairs of the society, will ever be put
| into effect.
This is indicated by the marked dis
| inclination of several members Of the
committee Of seven, appointed to nom
| mate chairman, to serve on the COM
| mittee
D. o. Mills, who was named as one OF
| the committee, said today that he had
| decided not to seive and that none o1
his colleagues had SO far consented tc
| do So
After the conference between Mr.. Al
exander and Mr.. Hyde it was reported
| that Robert T. Lincoln had been agreed
upon by them as the man best qualified
| to assume the craftsmanship of the
| board of directors.
The prominent features of the Fricl
| report about which there was boundles:
| speculation when it was practically lie
| jected and suppressed at the meetin:
yesterday, proved when it was pub
lished in full today to follow closel,
| the outlines forecasted several day
ago. Both Mr. Alexander and Mr.
Hyde are severely criticised in the re
port, which declares that assuming Mr.
Hyde to be guilty of the things charg
ed by Mr.. Alexander, the latter /
"culpab1y negligent in acquiescing il
them for so long a period, and in TO
bringing them to the attention OF tn
board of directors"
| Among the features of the report j
a letter from Mr. Alexander, devoted Il
part to a reiteration of his charge
against Mr.. Hyde, especially the one +
the effect that Mr.. Hyde was enable
to become director in many corpora
tions by reason of the fact that larg
quantities of stock belonging to the SC
ciety were held IN his name.
Commenting on q letter from MI
HYDE giving the details of profits re
sulting from syndicate operations, tn
report while admitting that the socie
ty had profited by these transactions
| declares the officials in the syndicat
to have been guilty Of breaches o
trust and propriety in so dealing wit
corporation which they were serv
ing.
Counsel for Mr. Hyde issued late to
day q long statement defining Nj
Hyde's position in reference to the al
tacks on him. In this attention
called to the fact that Mr.. Hyde ha
repeatedly offered to trustee his stoci
and for many weeks urged that ma
..of dominating national reputation
be placed at the mead OF the societ
/ The statement covers the details
| | numerous stock purchases alleged b
Mr.. Alexander to have ben made :
, the instance of Mr.. Hyde without col
: suItation with any members Of tie 81
t ciety and declares them to have bee
/ | approved at meetings Of the finant
committee at which President Alexal
J der was present. A letter from III
Alexander to Mr.. Hyde is incorporate
l | i'm the statement in support of tn
contention. Mr.. Hyde again deni'