The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1905-04-27
VAST POWER OF HYDE
IN THE EQUITABLE
AFFAIRS
HIS DOUNTEOUS DINNER
Spent 100000 on One Sher.
V RagOut.
~ IIenIy Georgel


New York. April g7-How IS ii that
Janes Hazen Hyde. nominally worth only
s5l 600. can control "a corporation worth
half a billion dollars?
10 answer tnat question we have 20
sc back tc the origin Of the Equitable
Life Assurance society in 1859.
The origin 81 the great Insurance corr
1ofation. which now has issued policies
Amounting TO 1900. .00o. .ooo wns in the
fertile and active brain OF Young nun
horn in Catsisin n. T., ia 1884, Henry b.
l4yde
The son. James Hazen hyde. was born
ir New York ia 1876. Henry B. HYDE
had then become a very wealth man,
aiai vas the nssociate OF very wealthy
rem The growing son had an the
eURROCNDlNGS OF AFFLuENCE.
ala very early. while n Paris, contracted
a love FOR things French.
rhis YOUNG man, who might wen be
nastakcn fos tie walking model for ec-
eriric French boulevard clothing and
l,aberdashery. was soon after his fath-
ci,s leath. IN 1885 eieeted 10 the board
o. directors Of the Equitable society,
eid was made FIRST vice president the
contention Of his friends now being that
it Was commonly known at that time IN
tie society management that It had been
the elder Hydes wish to have his son
snme day come 20 the presidency of the
company
TIRE elder HYDE had begun his work TO
bSird ~ the society on salary Of $4,000
= yes,r. Tlis salary had been steadily
enlarged untn it became 100000 And
iiiis was the salary on which the son be-
can his work for the society
A Dinner ard Revel.
Charges o. another kind against Hyde
relate 10 various greet personal extrava-
gsnces put upon the society. what made
a great sensation was the Louis XVI
rsvci al sheuy's al the end Of January
q. this year. a considerable number OF
those who esteem themselves as consti-
5riing New York's Society" were there
Al any rate there were 4o0 guests al
" fancy costmmes Faur or five floors o.
slerrys great establishment were en-
rsged one aoor being specially arranged
" a theatcr. whore ballet troupe from
The Metropolitan Opera house danced
and where the talented French actress
None. Reiane. with chosen members
fsom her company, presented a French
) lgy expressly written for the occas-
ia.
The other floors and apartments given
over to Hyde were specially decorated
with hargmes furniture Mowers and
plants 10 resemble different periods ol
she court Of France. BY universal con-
sent 81 wIs magnificent affair perfect
ir en- its appointments. And it cost, ac-
tmdms to eommon belief. 100000
This, the AleVlnder faction say Hyd,
c.iarsed up 20 tho advertising recount
o. The Equitable society
llnt why was Hyde permitted 10 do
these thinsHe Where Nrs The president
q tne Equitable Where were tho other
pnicos? They we're in their offices. pre-
sumabiy. They now say that They wer,
practically helpless, Recause Hyde con-
uched 81 per cent Of ,ac stock and this
stock in fact, rules the society AT ans
rate tho oflccrs mtimated that Hyde
c9uiG turn uiom ont al the next election
o. directors and offirers n he SO chose
Iiyde says that Pres. Alexander ano
the other officers acquesced in an thess
things as being perfectly proper until d
time came when they Thought they ooulo
force the control 81 tho society ava,
fnan the majority OF the stock and into
taal of the policyholdeis, or rather OF
those who SHOULD hold the proxies Of ths
Iolicyholders
i'he man In the street wiz probable
ses some truth 30 both statements. Hyde
& his middle twenties was suddenly, bs
..F
commanding position in corporation
Aaving assets and surplus Of 100000. oQ0
m wonder his hen6 swami the more es-
pceialy as ahoui him in the management
were gray headed mon whose purpos,
these was % use tho moneys OF the great
cnmpany TO bB vp stocks and bonds OF
railroads and lroiiy nnd gas ANA othel
ppblic franchise oouorations AN over
The comiry n whicA they We're On one
way or another Interested.