The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1905-04-28
OFFICERS MUST Be
REMOVED AT ONCE
Equitable Management, on
Both Sides, Faces New
and Grave Trouble.
HYDE is SURELY GUILTY
And President Alexander Probably Is
Equally Liable, Under the lnsur
ance Law, to Be Removed
for Illegal Profits.

New York, April 20.--A corporation
lawyer. who has taken the keenest in
terest in the Equitable fight. and is not
associated With either MI Hyde or MIR.
Alexander, said today:
The law says director of an insur-
ance company shall forfeit his Office if
he makes profits by sales of securities
to his company. Mr.. Hyde is a direct or
of the Equitable. Mr.. Hyde makes
profits, but he has made restitution.
Whether he has made complete restitu-
ton does not matter He is on record
as having made restitution MIR. Hen
bricks is confronted with 4 situation
that he cannot dodge or escape. The
law is clear and specific. The defense
and the confession are equally clear and
specific.
Hyde Must Be Removed.
There is absolutely only one course
open to Mr.. Hendricks, and that is to
summarily remove MIR. hyde from the
directorate of the Equitable. If preSi-
dent James w. Alexander has made
Illegal profits by the sale of securities
Of the Equitable, he also should be
summarily removed from the director
ate of the society. If f. H. Hartman.
Henry c. Prick, George j. Gould. Jacob
II. Schitf and other directors of the
Equitable have made illegal profits out
of the sale of securities to the COM
pany, they should be summarily re-
moved, too. The honesty of Mr.. Hen
bricks and his office is on trial. The
honesty of Governor Higgins and his
administration is on trial. The issue
is clear and unmistakable"
The Hyde Syndicate.
The personnel of the James II. Hyde
and associates" syndicate is known,
This is the syndicate from whose prof
it's Hyde returned $61 900. Some are
friends of Mr.. Hyde, others are friends
of Mr.. Alexander Mr.. Hyde had the
concern named for him: Mr.. Alexander
was one of the participants. All the
mamberS of the syndicate are eX-offi-
GERS Of the Equitable or officers in
companies that are nourished by the
Equitable. Hyde gave back SCI 900. 1t
is stated by some of Hvde's friends that
Mr.. Alexander has also returned $50
0c0 Mr.. Alexander was asked about
this today. He said that in the alb
sence of j definite statement from
some one in authority he would say
nothing further than his denial Of Sat
urday. Mr.. Hydc's friends say that
Mr.. Alexander should have restored
SCI 900. 1t must be remembered that
these men. in returning this money. do
not admit that they did wrong. They
mold that to use the funds of the Soci-
/
gitimate.'
More than 200 general agents of the
Equitable Life Assurance society, rep
reseMtins nearly every section of the
country, met in secret session here to-
day to make q formal protest against
| the strife within the organization
| which has engaged the public attention
| for several months.
Soon after the meeting opened Mr.
| Alexander made an address and was
! followed by Mr.. Hyde and Mr.. Tarbell
! TIL" talk Of all WAS confined strictly [,
| the admontion that al concerned
! should work from now on for the best
interests of the society
When Mr.. Hyde arose to speak he
was Kissed by general agent of the
| society who was said to be the leader
| in last nights movement to engage 10
! seph II. Ch0hte, now American alnbas
| Sador to Great Britain. TO conduct ~
investigation on behalf of the agent:
/ into the Society'S affairs. MI. Hyde re
marked that any such Il reception real
" was q compliment. and proceeded
by the incident. He said IL he hat
done anything wrong financially o
! otherwise, or had participated in an,
wrong doing by others. he should b.
kicked OUT and if any other officer
of the society had been guilty of WrOnf
doing they should be thrown into TIL
| street"
The agents adopted resolutions en-
dorsinc President Alexander and favor
ing the naturalization of the society.