The Montgomery advertiser., 1905-06-03

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 Hyde Is Requested to Dispose of His stock, and 1t is Said that Har- riman Has offered to ! New York. June 2.--Disputed claims of victory by the conflicting factions | in the Equitable Life Assurance So- ciety and an apparent readjustment of interests marked the meeting of the directors of the society held today for the purpose of passing on the report of the committee of seven of which HI. c. Prick is the chairman. The only positive results of the meeting of which ohicial announcement was made were the rejection of the report of the Prick committee by large majority, the resignation of Mir. Prick Mir. Bliss and MT. Hartman from the board of directors and the passage of the resolutions embodied in the following statement given out by the directors after the final ad- journment:
 "The Board after full discussion and after replies on their own behalf to the committee by President Alexan- der. Vice President Hyde and Vice President Tarbell, on motion of Mir. schiff. adopted the following resolu- tions:
 "i. That chairman of 0 board bo created with plenary powers over all departments and affairs of the so- ciety.
 "2. That nominating committee consisting of D.. O. Mills. John A. Stewart, A. J. Cassett, T. Jefferson Coolidge. August Belmont. J B. For gan and Robert T. Lincoln be re- quested to report at meeting of the board to be called on Wednesday next. a candidate for chairman.
 "S. That at that meeting of the board, the executive committee be re- organized and that appropriate amond- ments to the bylaws should be pre- pared for submission to that meeting for the purpose of carrying out these resolutions.
 4. That Mir. James Hazeh Hyde be requested within three months to di- vest himself of the control of the stock of the society on such terms and conditions as shall be satisfactory to him and to the board.''
 Of the full board of fifty directors
 the following thirty-seven were pres ent.
 Chauncey M. Depew, H. c. Deming, Cornelius N. Bliss. Thomas Jordan. Charles S. Smith. V. P. Snyder. Alvin W. French. William Alexander. John J :. McCook. James B. Forgan, C. Led- yard Blair. Brayton Ives, M. E. In- gals. James H. Hyde. A. J Cassett, E. H. Hartman, Jacob H. schiff. T. Jefferson Coolidge. Gage E. Tarben c. B. Alexander. Henry c. Prick. J. Denavarro, M. Hartley Dodge, Brad ish Johnson, Alfred G. Vanderbilt, H. R. winthrop. D. o. Mills, George J. Gould, George T. Wilson, Thomas T. Eckert, William H. Mcintyre, H. M. Alexander, H. C. Haarstick, David H. Monfatt. Joseph T. Low.
 The meeting today was called for II o'clock, prior to which hour there were
 protracted conferences in the offices of MT. Alexander and Mir. Hyde and in the offices occupied by the Frick com, mitted. Among those who conferred with MT. Hyde were Senator Depew, Samuel Untermeyer. George J. Gould, A. W. Krecht, w. c. Gulliver, Wins low s. Pierce, H. c. Haarstlck, John J. McCook, Bradish Johnson, D. H. Moffat, H. R. Winthrop. William H. Mcintyre and c. B. Alexander.
 IL was 0ecldTtu Dy lnlGItoh6 lAiNHNAS to MT. Hyde that strong efforts would be made at the meeting to defeat the report of the Prick committee, to with hold 1t from publication and that Pres ident Alexander and his friends had joined forces with Mfr. Hyde in support ing this course
 They remained in session several hours, the time being taken up with a statement by President Alexander and Vice President Hyde. both of whom opposed the adoption of the Prick committees report.
 Rep0rt's Recommendations. After final adjournment late this af- ternoon 1t was learned that the ques- tton of the adoption of the Prick re- port had not come before the board. MT. Prick, perceiving that he would be outvoted on reso- luton to adopt the report made no comment and after tendering his res iRnation left the room. 1t is under stood that MT. Bliss and MT. Harri- man both of whom rendered their res- iRnatfons. followed him immediately. Messrs. Prick and Hartman were the prime agents in formulating the re- port. MT. Bliss being a less aggres- dive supporter of the report but being of the same mind as his colleagues. followed their examples. The Prick report, 1t has been ascertained, re- the removal of President Alexander, Vice President Hyde and Second Vice President TarbelL During a lengthy defense of his actions as an officer of the society, MT. Hyde said of this function that fully one-duar- ter of the guests had been invited by other people connected with the socie- ty and were men of prominence in the with whom he was unae- uuainted. It had been purely busi- ness project discussed between the officers in advance. he referred to the fact that shortly after the dinner MT. Alexander had come to him with form of letter to be written to M. Cambon, referring to various matters in France In which the society was in- terested.
 As to his participation in syndicates Mir. Hyde said he had been In many svndicates, always with MT. Alexan- der. in which the Equitable had no concern whatever and in many of them had lost money. Mrl Hyde said that every man present knew that If the fact of being an officer of a financial institution was to debar man from investing his own money In syndicates ar other operations nobody of any AranciaI stability could ever be got to take a position with a financial in- stitutton. The idea that he mad gone into one syndicate with the thought that the Equitable would buy any of the bonds must appear to men ac- a,,sinted with affairs of that kind as tno ridiculous for discussion. The fig nres he added, would show how ab- surd this was. The eight syndicates =. o,,ntad to about S1 4O 0O0 0O0 af