The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-04
will the State Superintendent
Throw Out Alexander
and Hyde?
INSURANCE Law VIOLATED.
Nominating Committees Men,
hers May Not Serve.

Hyde Defends Himself Against the
Charges Made by Aexaader-Says He
Never Used Stock owned by Equi.
table but Standing in His Name to
Push Along His Personal Fortune
-Untermyer Says Hyde Has Ions Been
willing to Trustee His, stock--Signs Of
Anew Offensive and DEF ensive Alliance
Between the President and the First
Observation-Disclosures and Hartman
Expected tn Attack From the Outside.
All eyes are now directed on Supt. Francis
Hen bricks OF the State Insurance Depart
nent ard the results Of the in vesti gator
Of the society's affairs which Mr.. Hen bricks
personally, as we'll as through his chief
deputy. Robert n. Hunter. has made.
1t was stated yesterday that the results
oi Mr.. Hendrick's in vestigation will be forth
coming within ten days, but just whether
Gov Higgins will advice its publication
vas one Of the problems discussed by those
interested in the society's Affairs yester-
day.
1t was very plainly stated that, according
to the Prick report, Sup. Hendricks can
find that Mr.. Hyde, James ". Alexander.
Valentine P. Snyder and other directors Of
tbs Equitable society had committed
serious breach of the insurance law Of the
State. Those who made this statement
pointG;s 70 ne syn licates mentioned in the
Frick commit ee's report, which included
sales ty Kuhn, Loeb 4: Co. to James h.
Hyde and Associates If Metropolitan Street
Hallway As Of Pop Philadelphia, Baltimore
end Washington = ps1 cent hcpds,
Long Island Tailrcad psr cent bonds.
Oregon Snort Line Iefunding mortgage
I per cent 25 year gold bonds, ?. c. G.
and s.. louis Railway consolidated morts,
gage = Per cent, geld bonds, Norfolk and
Weatern divisional first lien and general
mortgage irer cent. binds Imperial Japa-
neee Goveralaslt 6 per cent. sterling loan
guaranteed, ard Atchisor Topeka and
Santa Fs RailHa1 ger cent serial de-
benture bonds. 1859.
.Supt. Hendricks; under the insurance
law Of the State, has the power to remove
any Officer or director who has violated the
Insurance. law of the State, aud from Supt.
Hendricks s decision II this matter there Is
apparently no appeal ,1;ut whether Supt
Hendricks will decide that the participation
Of Mr. Hyde, Mr. Alexander and the others
il the syndicates mentioned constitutes
Ne 10 81 elaG
~'ill be sk3 tn IN Mr. Hsndrickss report.
AID j. was because Of the importance Of
Supt. Hendricks decision on this matter
tina. members iof the commit ee headed
BY D. o. Mills feel .difadent about serving
or in any way taking steps to select chair
70 en- with plenary powers. Supt. Hen
bricks, accounting to Republicans yesterday,
has conducted most rigid investigation,
ora Which Is even more drastic than that
r. aGe by the Frink committee, and the
importance OF Supt., Hendricks report
va therefore considered the paramount
+. pic Il interest in the societv's affairs at
tte present time.
HYDE IN COMMAND
Developments yesterday in the Equitable
situation, following the rejection Of the
Erioii cornnlittee, report and the retire.
n.ent Of Hartman. Prick and c. n. Bliss
rom the socistys directorate, made it ap-
rarent beyond a doubt that James Il. Hyde
s now supreme in the affairs OF the insti-
ution. President James ". Alexander
S no longer regarded by him with any
concern and Mr.. Hyde has absolutely no
tear that the resolutions adopted by the
ooard of directors on Friday will be car
led into effect in any way that will be
detrimental to his interests.
Mr.. Hyde has no intention of divesting
himself Of his stock in the sense that he will |
the control Of the society per-
He had no thought Of selling
lie stock to the society when he said In the |
ooard meeting that he was willing to make |
looking toward the surrender |
II his control. The most that he will do |
6 TO trustee his stock in the way that be |
'as proposed before, subject to soondi- |
ions and arrangements.
As TO the proposed election Of a chair
nan OF the board Of trustees with plenary
lowers over the officers and employees Of
he Equitable, no person will DO elected to
his Office who is regarded with disfavor by
Ir. Hyde. Mr.. Hyde has the power in the
ward Of directors to prevent the election.
Although apparently in an impregnable
'ositon at present. Mr.. Hyde has troubles
head OF him. Edward H. Hartman and
henry G. Frick do not propose that the
Kings which Mr.. Hyde said about them at
'rday's stormy meeting shall 60 by without
'eing accounted for. Mr.. Hyde will soon
Ind himself tho target OF attacks from
ourcee outside the society, and the contro-
'ersy. 1t was predicted yesterday, will in
he future completely overshadow any
urther efforts which President Alexander
nay mako against the young vice-presi-
lent.
coAnnrrEE NOT TO sERvEr
Signs Of further disaffection in the board
i! directors appeared yesterday, and it is
ouh,ful now whether the committee Of
even which was appointed at Fridays mc+t-
Continued on Second Page.