New-York tribune., 1905-06-13
Warren St.

| Equitable agents, in which he told of his cleo
| ton and the transfer of the Hyde stock. The
| letter continued:
The Equitable society has been severely tested
and the ordeal has revealed to the world It's
strength and prosperity with emphasis which
could never have been shown significantly by
any ordinary method of demonstration The
fears of timid policyholders have been aroused
and many have been alarmed by exaggerated
or misleading newspaper articles But 1t is
astonishing that the increase in lapses has been
so small The steadfaStness of the body of the
societys policyholders under the strain to which
they have been subjected has been remark
able as it has been gratifying. All this furnishes
the highest tribute to the excellence of the So
It's agents.
The field force of the society is to be con-
graduated on what is believed to be the COM
plete solution of the difficulties which have tenn
porarily hampered them and arrested their
progress in competing for business. You will
be kept thoroughly posted in reference to future
developments.
Knowing that every agent is doing everything
in his power to take care Of the business already
on the books, need not dwell that point.
Every effort will be made to develop the busi
ness along sound lines for the benefit of policy
holders and agents alike, and pledge you my
most cordial cooperation in carrying on this
work.
Gage E. Tarbell said he knew nothing about
any meeting of the general agents to discuss
wholesale designations from the society's
vice in case he had to leave. He thought that
the agents would not take such action. Few
designations, so far, had been received by him,
he said.
Nine policyholders of the Equitable, whose
policies aggregate about S125, 900, filed papers
intervening in the suit of ]. Wilcox Brown in
the United States Circuit Court. asking for
distribution of the surplus Of the society, and
the appointment of receiver meantime. AL
ready there are fourteen intervenors. whose poll
o.
shall. for Colonel Brown, say that the reorgani-
zation and contemplated naturalization through
the Hyde stock Will not affect their action at
ALL
Henry Clews. who heretofore has given no
opinion on Equitable affairs. vouchsafed the fol-
lowing, which Wall Street read and pondered:
James Hazen Hyde, a natural born brunette
hence of very dark cooring still not so black
as painted probably, youthlike, was guilty of
some lndscretions Forceful youths generally
are; however, such boys often make the bright
est and most successful men Of affairs. Hyde
did not start life by picking up the crumbs. but
was like the chicken that picked up a big crust
of bread, ~hereupon all the other chickens ran
after him to take it away. | remember being
on a visit to Hyde's fathers country residence
shortly before his death, and he told me of
raid that was made upon him to him from
the Equitable report was insidously put into
circulation that he had just completed his coun-
try home and that it a perfect palace, built
of the granite stone that was being then
quarrted for the Equitable building, and that the
stone, workmanship and construction of his
house had all been charged to the building ac-
count of the Equitable company. This report
widely spread. finally reached the directors, so a
special meeting was called by them to discuss
the matter
Mr. Hyde requested to leave the room to
admit of a free discussion. AS result
mittee of three appointed to visit and in
Spect his country residence and report at the
adjourned meeting. Mr.. Hyde was apprsed Of
the action of the directors, and at his request
he allowed to accompany the committee to
his residence Upon arriving at the house they
discovered, very much to their chag grin, that the
building was constructed entirely of wood not
a speck of Equitable granite being found on the
place. The committee naturally crestfal-
len and anxious to sneak away speedily
possible After they made their report at the
next directors meeting ample apology was
unanimously voted. The origin OF the report
was traced to a very prominent director, who
was enjoying at that time great fame through
the success of the first ocean cable, we'll by
his prominent and successful connection with
the elevated railroad system.
Henry B. Hyde, president of the Equitable
Assurance Society, quite conspicuous at
this time bright and shining light in the
community owing to his marvellous success.
and it was thought by Mr. Hyde that the
was started through a feeling Of jealousy and
dent of the Equitable TO make way for his
opponent. At the following meeting of the
directors Mr.. Hyde attacked the author of the
rImor in a most ferociouS manner and drove
him from the meeting, and he never afterward
attended another one.
ATTACKS HTGH SALARIES