New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-30
THE DAY BEFORE BATTLE.
Opposing Equitable Leaders Dis
pose Forces for Meeting.

In nrenaration for the directors meeting to-mor-
POW at which Il is expected the long struggle lot
the control OF the Equitable Life Assurance 80
ciety will be ended. the leaders OF ooth IacuohS
were busy yesterday in conference with their
lawyers The Hyde party is sticking to the plan
Of campaign which was mapped out seVeraI weeks
ago. fight to a finish and no quarter Inc Alex
ander forces are saying nothing, but many OF the
directors say that compromise wouIo Oe A0-
cepted by Mr.. Alexander.
The Frick committee held a meeting, at Wfhch
it's report, practically completed, received the
finishing touches from Mr. Prick and senator
Knox his counsel. Practically the only business
transacted at the meeting tomorrow Will be the
reading OF this report and discussion OF IT. X may
be considered important. after its preliminary
reading. director said yesterday. that the board
would adjourn for day or two to digest IL thor-
oughly before taking II up for action.
While nothing authentic has been said by any
member Of the Frick committee regarding that
body's findings, there is among the directors a
general idea Of what the report will present. They
expect complete setting forth Of the 'nepotism
which both parties admit has existed in the So
csty. Strong criticism is expected as to the num-
ber Of AIexanders who hold profitable places on
the societys payroll Mr.. Hyde. too. viii be
censured. 1t is thought, for placing many OF MS
personal friends in pleasant places.
The report will deal rather gently with the syndi-
cate undertakings. in the opinion OF directors
Nothing criminal in those transactions will be
found. they predict. although they think the COM
Ln1ttee may advise that the Equitable's officers
keen out OF similar concerns in future The ques-
ton OF salaries will bring forth advice 10 re-
cuction, 1t IS thought.
The agency department is likely TO receive the
most caustic comment, the directors think. Rec
concentrations will be made. they believe, that
complete reorganization OF this department be put
into effect. with strong en6eavors to reduce the
cost CT writing insurance. Advances TO agents are
likely TO be recalled. Smaller commissions 10
agents may be recommended, with stringent or
ard adv on re-
neWsl accounts.
A preliminary report from Superintendent Hen
bricks IS expected the meeting, also. In this
report he viii tell the results OF his investigation,
still under way. He, too, may make some recon-
naendations regarding the future management OF
the Equitable. lie VIII say it is believed. that the
Equitable at present is absolutely sound but has
been living exIravaganty, and that much economy
VIII be necessary IN the future.
An unusually large attendance is expected at
the meeting. William A. Wheelock, Levi p. Nor
ton and T De Witt Cuyler will be about the only
directors unable attend it believed. An esti-
mate by Of MI Hyde's friends yesterday gave
President Alexander seven men out Of the entire
board who would stick 10 him absolutely on any
proposition 10 which h. might give voice. The
other directors said this man, would back Mr..
Hyde in anything in which they felt he was not
absolutely wrong, unless it would reflect discredt
The directorate or the society.
Samuel Untermyer ". c. CULVER, c. B, Alex
a long conference yesterday in Mr. Hyde's offices.
President Alexander spent part Of the day with his
lawyers. Alexander & Colby. Peace propositions
were afoat. but received scant consideration.
Many Of the agents have been writing TO Mr..
Hyde during the last month. ii was learned yeSter
day telling him that when the agents conference
was held here, they had mistaken idea entirely
of the situation They felt that they had been
hoodwinked, they said, and in justice TO them
selves, should hold another conference. at which
they might take action which would correctly rep
resent their sentiments and set themselves right
before the public. Mr.. Hyde, it said by one
of his friends. has discouraged this idea IN every
case, refusing bring the agents into his cam
paign- -
Much comment heard yesterday regarding
the letter sent TO President Alexander by his law
yers, criticSiug the decision of Justice MADDOX.
Samuel UnteTmyer said OF il:
do not believe these distinguished gentlemen
knew or suspected that their opinion was 20 he
used for the purpose to which it has been put,
nor am I willing discuss the propriety of their
action. That is their responsibility. l can only
say that we satisfied of the correctness of the
dissemination by Justice Maddox OF the difficult
questions of law involved in this controversy
While the defeated party IN the olden days was
regarded as having the option either Of appealing
from the decision adJourning to the corner tav-
ern TO critcise the court, NOT even that ancient
custom accorded them the unusual privilege OF
both remedies.