New-York tribune., 1905-06-10
Roth SIDES SATISFIED.
Each Can See Where 1t Defeated
the Other.

Both factions in the Equitable direc'ora's
o,.;-, 1,Asterday's election Of Paul Morton ana
;+s consequent results as victory. MT. AieA
ander's friends say that since the society wiz
obtain reorganization and the pohcS io4uei'
naturalization, all the things for whlch ne mas
been working will have come to pass. N1i'
Hvde's friends say that as the men VINO Hieti-
tuted the attacks on him. President Aiekahuer
and Gage E. Tarbell, have been forced out ana
in all probability will be kept out, and as NAT
HYDE. having sold a larger part of his stock at
a figure not Improbable to himself. still VIII
retain a prominent connection with the society,
he appears not to have suffered too heavily from
the long fight.
The plan by which Mr.. Hyde divested himseIf
of the control of his stock and conferred prac-
tical naturalization the society was WORKED
out by Samuel Unternyer, Mr.. Hydes chleL oL
counsel who advised his client to stand ana
fight when other lawyers were telling MN "
yield TO the demands of his opponents @ anu re- re-
Sign from the board at once. MI. 6yue a.
though he had been receiving oferS Tor ms sIocA
from many sources. absolutely refused 10 sen
it unless ii could be used Tor the penent oL the
nolicyholders He refused to sell 1t TO Governor
Herrick, representing George Gould ana othefs'
and to E. II. Hartman and H. G. Frlch. /.
Rt1t when. some two weeks ago, ofterS came 10
Mr HYDE from a syndicate of large policyhold-
e~s Mr. Untermyer and he saw their oppor
ty, and the lawyer worked out 5he oI @
transfer, which were completed only YESTERDAY
morning The policyholders representatives
were told that Mr.. Hyde would consent to trans
fer his holdings to them only when he was as
sured that the control should be distributed. ana
that the policyholders should nave real mu-
tualization-not a sham by which the agents,
through proxies, would get control OF the COM
| pany-
has named will all accept, it is understood They
are to hold tia place for life. and the board or
] trustees itself VII. fill vacancies, making this
| icyholders will be expected to name the twenty
eight directors. who shall be elected by the new
| ly trusted stock. either at meetings or by
proxy committee. in which the agents shall have
--andling of the proxies.
In the syndicate, which numbers forty
policyholders of prominence, each man being
heavily insured in the society, are Mr.. Ryan's
son. with a policy for $4,000; George Westing-
house. who carries a policy for 100000; Samuel
amounting to s430000. and Justice O'Brien
whose policies figure up to S165,o0o. .
Mr. Morton, according to some OF the dl-
rectors, may be elected president of the society
in time They believe that his reorganization of
time the chairman Of the board may become, as
it is in many other companies, an honorary
place. AS chairman his salary will be at least
100000 g year, and possibly may reach hlgher
figure It was said that as head Of the Ryan
transit interests he would receive S12500o.
A supporter cf James ". Alexander character
ized the outcome of the afternoon striking
victory for Mr.. Alexander. THE meeting, said
he accomplished substantially the reforms
aimed at by MIR. Alexander from the outset. 1t
secures in very practical form the naturalization
of the society and lodges the control in the
hands Of the pol1cyholderS Inc olspoSltlon Is SO
plain as TO need very little comment. Mr.. Alex
ander from the beginning sought only to fulfil
his duty to the society To work the soclety's
ultimate good he joined with other officers in
signifying hts dissatisfaction with the existing
control.
Il do not regard the afternoons transactions
naturalization with capital M, but think it
a perfectly genuine and sincere proceeding. Mr..
Alexander's resignation has not yet been &C
cepted and I think the general feeling is that he
will be elected a director Of the society. [ saw
Mr. Alexander tonight, and neve- saw him in
better health,