The San Francisco call., 1905-04-05
Hyde Denollnces Alexander
of the Company as False
to His Trust and as a
Hypocrite i'll His Dealings
LETTERS THROW A
FLOOD OF LIGHT
Young New Yorker Assumes
Aggressive and Will Try
to Force Opponents Out of
Positions in the Society

NEW YORK, April 4.-The fight in
the Equitable Life Assurance Society
assumed a new phase tonight, when
several letters that heretofore have
have been carefully kept secret were
made public. Further interest was
aroused by a persistent report. emanat-
ing from an apparently reliable source
and so far not denied, that Vice Presi-
dent Hyde and his friends in the soci-
ETY. had decided to assume the aggres-
sive. According to the report, the Hyde
party will force James W. Alexander
and Gage z. Tarbell to retire from the
presidency and second vice presidency ,
respectively of the society at the meet
ing of the board of directors to be held
next Thursday.
This report was strengthened to-
night by the fact that both parties gave
out certain letters and statements bear
ing on the questions in dispute. Hyde's
contribution was the letter which he
wrote to the Equitable directors on
February.15. when the fight for mutual
ization first came officially before the
board. At the time this letter was
carefully guarded and only it's general
tenor was allowed to become known.
The letter is lengthy history of the
Equitable and Hydes position under
the terms of his fathers bequests, and
in it Hyde formally charges President
Alexander with gross breach of trust
to my father and me-.
SHOT TAKEN AT TARBELL.
Alexanders contribution to the his
tory of the controversy Is his letter to
the State superintendent of Insurance,
defining his position and acquiescing in
the compromise plan for the mutual
ization of the society. 1t is interesting
hot 1,ie
was given with reluctance, because he
felt that he could not take the respon-
sibility of rejecting even the measure
of control by the policy holders.
On behalf of Hyde statement was
given out with reference to this letter,
which charges that Alexanders action
in this matter was a breach of faith.
Second Vice President Gage E. Tar
bell is the target of an open state
/, ment given out by Alexander s. Bacon,
counsel for certain policy holders. This
statement declares that Tarbell is the
real leader Of the Alexander forces, and
makes the charge that Tarbell, just
prior to the beginning of the present
controversy, sold back to the Equitable
for the sum of $135,000 all his interests
in renewals or future BUSINESS.
STATEMENT OF HYDE.
In Hyde,s letter to the directors, he
saws he was called into conference with
President Alexander on February
when but two business days interviewed
before the directors were to meet to
elect officers, and told that a large
number of officers of the Equitable So
ciety, under his leadership and initia-
| tive, had signed a memorial addressed
| TO the directors, demanding that steps
! be taken which would result in placing
the policy holders in control of the cor
| poration to the exclusion of the stock
| control"
The letter also says he was given
legal opinion to the effect ethat 1t was
| the duty of the officers to bring this
| matter before the directors. together
with a paper signed by majority of
| the officers charging Hyde with per-
| sonal unfitness for the Office of vice
president The letter continues:
Mr. Alexander demanded my imme-
date consent that my control of the
| company through the ownership Of
majority of it's stock be at once relin-
uuished that / should consent that the
/ functions of the stock should be super
| seded under a reorganization through
which the vote of the policy holders by
proxy should select management to
| control the company and that / should
personally resign and withdraw abso-
| lutely from any connection with the
control or management of the COM
! pany. accompanying the demands by
/ threats of exposure of improprieties on
/ nv, part in both personal and official
conduct and impressing upon me that
the movement against me personally
| had been so effectively organized as to
be resistless.
|