New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-29
PENSIONS TAKEN UP.
Transaction by Which Salaries Were
Raised Sho1rn.

The questions Of the increase in the salary Of
the elder Hyde and the annuity or pension to be
paid to his widow and to the widow of James w.
Alexander were carefully gone into at yester-
days session of the legislative committee, after
a long review of the various transactions invOlv
ing the change Of control of the Equitable, fol-
lowing the retirement of James IIazen Hyde.
the Ryan purchase and the assignment of 502
shares to the CIeveland-W estinghouse-OB rien
trustees. The salary-pension transaction took
place in 1883, ana was the work of a secret
meeting, which was recorded by a special minute
which was not spread on the official records Of
the society. The special minute was as follows:
At regular meeting of the finance committee
held on February 2 1883, present all the members
question of the presidents and vcepresidents sal
cries and compensation for services rendered was
president had surrendered to the company an agree
ment for commissions on premiums, mace many
president much larger compensation than he has
extraordinary services for the company not usually
required of it's officers that he has in many cases
assumed very large pecuniary obligations for the
company, for which no compensation had been
After full discussion it was resolved as follows
Ffrst-That the president shall receive for an an
nual salary the sum of $4,000 per annum
Secondhand he shall receive for extraordinary
services heretofore rendered TO the company and TO
0I,sIiy oF s9s coo and 1h9+ said two sums shall he
paid and take effect from January + 1856
Third-That, in consideration of such services
above mentioned and future services to be rendered
president during the pleasure of the society.
this society will in addition TO the foregoing, pay
to his wife, Annie F. Hyde. an annuity of S2oCo0
during her life: such annuity TO begin upon the
death Of said Henry B. Hyde.
Fourth-That in addition to the salary which is
at present paid to the vce-preSident, and in con-
sheraton Of unusual and extraordinary services
performed by him. and in consideration of future
services to be rendered as vcepresident during the
pleasure of the society, this company Will pay to
his wife Elizabeth B. Alexander an annuity of
500 per annum; such annuity to begin upon the
death Of said James w. Alexander
It was resolved that proper contracts to carry
out the above agreement be drawn by counsel, and
that the same be executed behalf of the society
by the chairman OF the finance committee.
The contracts subsequently signed carrying
out this resolution We're shown. Then Mr..
Hughes read the minutes of the finance COM
mttee, which is all that appears in the regular
minutes of the transaction, as follows:
The committee on finance met at the rooms OF
the society on Thursday, February 2. 1885, at 11:3C
a m.
Present: Fitzgerald. Hurlbut Day Landon Hart
ley II. NJ. Alexander, Depew, Marquand and Bliss
The minutes Of the last meeting were read and
approved.
The following transactions were reported in de-
tall:
sS50o00 were approved as recorded in the security
The compensation of certain officers Of the So
ciety was considered, and a special minute in re-
Iation thereto adopted and ordered to be filed
LOUIS FITZGERALD. Chairman.