The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-04
ALEXANDER md
HYDE TOGETHER
Peace lowering Over the Warning
Equitable Factions.
WILL ESCHEW WALL ST.
AN OFFENSIVE AND DEFENSIVE
ALLIANCE.

Al EW YORK. June 9.-Overshadow-
IN ing in interest all the Other. sen
satiOnal developments i'm the af-
fairs of the Equitable Life Assurance
society, attendant on the rejection by
the directors yesterday and the publ
cation today of the report of the Prick
committee, comes the announcement
that the controversy between President
James W Alexander and Vice Prest-
dent James HaZen Hyde is at an end,
and that these two gentlemen have
concluded defensive and offensive al
lance The basis of this agreement is
reported to be that they should in the
future devote themselves to the inter-
ests of life insurance and keep all Wall
street entanglements out of the affairs
of the Equitable.
Conference Was Long.
Mr.. Alexander aud Mr.. Hyde were in
conference today with certain Of their
friends and advisers for more than two
hours. Deep interest attaches To- the
results of the unexpected turn of at
fairs. the general inference being that
1t predicts n very determined effort To
reconcile the interests of the warning
factions and re-estabIiSh the direction
or the society on a basis acceptable to
all. 1t was also made evident today
that there is scant proba bilitv that the
resolution of the directors yesterday to
create the office of chairman of the
board. with pienaTy power over all de-
partmentS and affairs Of the society
will ever be put into effect.
Lincoln for Chairman.
After the conference between Mr.
Alexander and Mr.. Hyde, it was report
ed that Robert T. Lincoln had been
agreed on by them as the man best
qualified to assume the chairmanship
of the board OF directors
The prominent features Of the Prick
report, about which there was bound
less speculation when it was practically
rejected and suppressed at the meeting
yesterday proved, when it was pub
lished in full today. to follow closely
the outlines fOTeCasted several days
ago. Both Mr. Alexander and Mr. HYDE
are severely criticised i'm the report
which declares that. assuming Mr.
Hyde to be guilty of the things charged
by Mr.. Alexander the latter is -'culpa-
bly, negligent in acquiescing in them
for so long d period and in not bring
ing them to the attention Of the board
Of directors.
Mr.. Hyde's Position.
tUuiiSel 1OI MI II A0e ISSUED Id tt To-
day a long statement defining Mr..
Hyde's position in reference to the at
tacks on him In this attention is
called to The fact that Mr. Hyde had
repeatedly offered to the trustees his
stock and had for many weeks urged
that man of dominating national
reputation" be placed at the head Of
the society. The statement covers the
details of numerous stock purcha ses al
legged by Mir. Alexander to have been
made at the instance of Mr.. Hyde with
out consultation with any members of
the society and declares them to have
been approved at meetings of the
finance committee at which President
Alexander was present
Charged Conspiracy.
Mr. Hyde reiterates his charges that
with the design of ousting him from his
position and obtaining control of the so
ciety himself.
Mr. Hyde referred to the So-csIled
subsidiary companies of the Equitable.
and said the Equita BILE had profited
through these corporations Other trans
actions were gone into at length. among
them a purchase of stock of the First
National Bank of Denver OF this Mr.
HYDE said;
The president Of this bank has been
of inestima bic benefit to this society in
various matters in the state of Colorado.
and in addition to that he keeps very
large deposit account with the bank Of
Commerce: he also turns over valua BILE
business to the Equitable Trust and MeT-
camille Trust companies.