New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-05
REFUSE HIS RESIGNATION.
BENT j ON COURT ACTION.
Hyde and McIntyre Call
Dir. 1lerander's Act Confession.

James H Hyde and William H. Mcintyre, in
a striking reply sent TO James ". Alexander
early last night, refused to accept his resigna-
ton as trustee of the Equitable stock in the
Henry B. Hyde estate, declaring that it was still
their intention to have him removed by the
courts and TO require of him an accounting o@
his administration It is Mr.. Hyde's purpose 20
ask the courts to compel President Alexander to
make restitution of the alleged loss in value of
the Hyde holdings of stock represented in the
trust on account of the naturalization agitation
and subsequent proceedings.
Edward NJ Shepard. in opposing motion in
the Lord suit before Justice Maddox as to the
differences between Messrs. Alexander and
Hyde, yesterday characterized the attempt at
naturalization. so far as che polcyholders were
concerned. as a hollow sham.
Henry NJ. Alexander announced that on
Wednesday night he had sent letter to Messrs.
HYDE and Mcintyre renouncing his reported ap-
pointnent in succession TO his father in the
EouitabIe-Hyde trusteeship to which the
sponse is made that such a remuneration is
impossibility.
The five various State insurance superin-
tendents after an executive session at the Hoft-
man House declared in official statement
that before taking further action they proposed
to await Superintendent Hendricks's report, the
general" earlier portion of which, Mr.
than June 10
Gage E TarbeH asserted that he not
going to leave the Equitable" and that he would
have no concern with the formation Of any
other company"
HYDE'S LETTER TO ALEXANDER.
The reply of Messrs. Hyde and Mcintyre to
Mr. Alexander asserts, among other things, that
only by virtue of the trust stock and its control
did Mr. Alexander obtain his position presi-
dent of the Equitable, and that his attempted
resigaation while under firt. is tantamount to
confession OF betrayal of trust. The letter is
as follows:
We received your letter of May 3, 1905. which had
to us and had already been published before its
receipt by as in which you tenGeo [ouf res5gna-
B. HYDE dated septem9%sr % b. s$s, lSs5 about -. ~.
broIIebt agains YOU to remove You as trustee on
the charge that you betrayed your trust and con-
Epired to destroy estate intruSted TO your
your attempted resignation, in The face Of these
charges, Is virtual! a confession that you nave
It is solely by virtue of the trust stock held IN
der this agreement and it's control in the election
of directors that you secured and have continued
20 HSu fb s6ofetv Your present attitude in seeking
TO destroy the value of that stock the same
tnuing to enjoy the fruits the trust is an anon
oIous position and that cannot be permitted to
Now that you have caused yourself to be elected
director and president of the society by the vote
of the stock OF which You are trustee. your
]
10 renquish the Offices which 10 the trust
Your references to the provisions Of the trust deed
under which you acting are disinGenuously IN
Ever since James Hazen Hyde became twenty
FIVE years Of age number of the trustees has by
the terms OF the deed been reduced TO three, Of
whom YOU are one. The only provision we find in
that dsgf {9r ~ yoqT 2a6ss Fssisnaon as trustee is IN
In case of the death or resignation of the above
named James w. Alexander II his son, henry
Martyr Alexander jr be, be living, the sad henry
become a trustee hereunder with all the powers
and duties in all respects as though he had been
second part and had executed this indenture"
There is, however. controllne reason ioI retHs-
you have inflicted upon The properly or "nlcn men you M
The right TO resign the trust is not expressly re
! is a right reserved to loyal trustee who for
legitimate reasons sufficient 10 himself desires to be
against the exposure and punishment OF recreant
! II is as you know and have known for some time
past our intention and that of the benehclarles OF
/ vour removal grounds with which you are now
and have been for long time quile re faaniIlar ar N
10 account for administration Of your trust and
/ that you be held responsible for the injury you
! have inflicted upon the trust estate . -.
! For these reasons We must refuse TO accept your
resignation.
The suit against Mr. Alexander, it IS said. will
begin within a week Mr.. Hyde, it seems 10 lie
/ insisted. never consented to that which he con-
sidered would involve the total destruction Of
his stock but seeing in perspective that which
he thought was the complete demolition merely
compromised On a part destruction
STATEMENT FROM H. NJ ALEXANDER.
Earlier in the day Henry NJ Alexander made
a statement in Remuneration" Of his appoint
| ment." follows:
have seen the statement in evening paper
TO the effect that VII succeed lanes tc " Of Tie