The Providence news. (Providence [R.I.]) 1891-1906, 1905-05-15
TO SWEEP
EQUITABLE
OFFICERS

| New York, May 15.-lmportant people
who are neither lawyers nor dummy di-
rectors in the Equitable Life Assurance
society but who are holders of large poll
cies, made it known last night that the
time had come for something definite to
be done.
They had pointed out that for three
months the scandal incident TO the Har-
ri nan- Hyde -schif management Of the
society's affairs had been tossed about in
every nook OF the civilized world and
that today not the slightest change for
the better had taken place. notwithstand-
ing an investigation by the insurance de-
partment of the state or the appointment
OF the Frick committee.
AS a matter of fact. the holders Of large
policies In the Equitable who declared
last night that important steps are soon
10 be taken said they could expect nothing
from the Frick committee which would
rehabilitate the society in the confidence
OF the policy holders. and they added that
they give little heed TO the results Of the
secret investigation now being Conducted
by the insurance department. Of the state.
Neither is much immediate relief ex-
pected from these people in the dozen or
more suits which have been brought
against the Hyde management in the diff
ferent states. This litigation Will neces-
sarily be slow in coming TO head. and
meantime the Equitable IS daily being in
jured in the estimation of the policy hold
ers and the public at large.
FOR CLEAN BILL OF HEALTH
Hence the holders of large policies in
ha Gaf lac oh hat in
tended TO take formal steps TO sweep out
IL possible. the present Hartman Hyde
mana cement. ana along with them are 10
go the present Cfcers and all who have
had hand In bringing the Equitable into
public notoriety to the great injury of its
business
Samuel UnlermeXer and others II was
sad, have discussed their proposed dras-
tic measures. which have not yet taken
definite form but some last night were
9. tic O. ir ici that the u, lders OF large
policies IN the society should get together
AMI appoint an Independent committee OF
Ave who wculd proceed directly against
the Hartman Hyde management and all
the officers Of the company. and not
cease their lahors until a clean bill Of
health had been given to the society.
Frank II. Patt. counsel for the Grim
Minis policy holders committee. replied
yesterday 10 the charges MADE by James
II. Hyde and his supporters that the
committee had been used by President
Alexander of the Equitable. working
through Mr.. Platt. merely as a tool i'm
carrying on his conspiracy TO obtain con-
tol OF the society. Mr.. Platt said:
RETIREMENT INEVITABLE
ION March the policy holders COM
mittee published its first notice, stat
ing that its object was 10 obtain for the
policy holders the right 10 vote for direc-
tors. The members OF the committee have
all been faithful TO that purpose except
Mr. Crlmmins.
AT first no one was more earnest for
II than he. When the deceptive four-yesr
plan was announced. Mr.. Crimmins spoke
against that plan, and voted in the COM
mittee against IT, on the ground that IL
would continue Mr. Hyde's stock control.
soon after that Mr. Crimmns had sew
eral private conferences with Mr.. Harri-
man, and then he came out suddenly as a
supporter OF Mr.. Hyde. What argument
brought about this change of mind has
not been disclosed.
The work and influence of the COM
mittee was temporarily checked by the
Hyde, nor Mr. Hartman. nor Mr. Grim
Minis. has been able 10 induce any other
member Of the committee TO change his
position or principle"
Mr.. Platt said that the inevitable re-
suit was that Mr. Hyde would be forced
to retire as an officer of the society.