The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-06


Here il a plain bu,inc,s transaction, It
was unmarked, LetwccH the 100000 policy
holders Of the company and n clique OF
Harriman-Hydo directors, whose financial
manpuvros and financial transactions,
the syndicating Of bond purchases and the
commissions received thCTCfrom the
organization Of auxiliary companies with
ths, funds Of the Equitable In which the
Harrinan-iIydo clique arc the moving
spirits, and matter, directly Eormanc to
the admin, tratiou of the ShUuoU0JO Of
surplus and SiOOOOOOOO Of assets Of tho
Equitable Life Assurance Society are the
only things under di.cu--iou.
The reported settlement Of Mr Odell's
shipbuilding suit 10y the payment of $4,000
OF the reported contribution of $4,000
with a promise that James Hazen Hyde
should be made "a sandwich man for the
Equitable as the American Ambassador
20 the French Republic, 1t IL true, have a
bearing on politics because they have to
do with politicians. But it should be inter-
polated that President RoOsevelts intuitiye
notions Of such matters did not incline him
TO carry out "the gold brick promise I'M
warrantably made TO Mr.. Hyde in Presi-
dent Roosevelts name.
The only polite heard Of in the effort OF
the 10000 policyholders to participate
IN what rightfully belongs to them-the
dividends accrlliug from the surplus Of the
Edutable--is Mr. Harriman's boast heard
almost every hour in the day, as to what
shall or shall not be done by the Legislature
at Albany or what shall or shall not be done
by Gov. Higgins and Attorney General
Mayer Not a soul has mentioned politics
in all the controversy save Mr.. Hartman.
Nobody cares anything about the politics
of the controversy, 10 was said very pointedy
last night, except that the Harriman-Hyde
coterie Of directors shall not use their places
or their intimate connection with the Eqm-
tables funds for their own political advance
ment or for the pushing through by politi-
clans Of their own financial schemes.
PoLIcYHoLpERs UNDERSTAND WHAT'S GOING
ON.
People accustomed to reading the Eng
lish language rather correctly said yester-
day that Mr.. Harriman's statements could
be compared 70 the statement issued by
Jacob II. SchiT on Tuesday. Mr.. Schif.
IL was recalled, said that as member OF
the firm Of Kuhn, Loeb Co. he had sold
bonds to the Mutual Life and 70 the New
York Life Insurance companies just as he
had TO the Equitable Life Assurance So
ciety. 1t was pointed out that nobody
criticised Mr.. Schif for selling bonds to
the life insurance companies, but that the
criticism Of Mr. SchiT and his sales Of bonds
20 the Equitable Life Assurance Society
bay in the fact that he was a director (by
the grace Of Mr.. HYDE in the Equitable
and that he was not a director in the Mu-
tual or the New York Life.
The statutes have already been printed
which tell Of the penalties that could be
melted out 10 a director in any corporation
IN the State Of New York who Uses his place
for his own financial gain. Scrutinizing
keenly and cleverly all Of the statements
which are now flung about promiscuously
and haphazard concerning the Equitable's
affairs are 900 600 policyholderS, 10000 Of
them in the State Of New York, who, ac-
cording to the returns are simply aghast
over the developments Of the Hartman
Hyde way Of doing things with what right
fully belongs 10 them.
FIGHT on FOR TODAY
The special meeting Of the board OF direc-
tons Of the Equitable Life called for o'clock
this afternoon promises to be not only
stormy but one Of the most extraordinary
OF It's kind Of which the public ever had any
knowledge. Nice-President James H Hyde
IL determined not to yield an inch further
In the controversy for the control Of the
society, and James W. Alexander the presi-
dent and leader Of the opposing faction,
announced yesterday, in defiance Of the
reported threat by the Hyde party to Dust
him from office, that he positively would not
surrender thepresidency.
II was stated yesterday that Mr. Hyde
L -. a
in the newly proposed naturalization plan
and use his influence with the board Of direc-
tors TO get them TO reject it. Mr.. Hyde 1t
was said would feel warranted in taking
such action on the ground that he made
important concessions upon the under
standing that Mr.. Alexander would accede
70 the plan based upon these concessions
and that the controversy would thus be
terminated. Thus far Mr.. Alexander has
refused to declare himself in regard to the
policyholders' plan.
Furthermore Hyde supporters declared
yesterday that Mr. Alexandcr's letter to
the Superintendent Of Insurance, ia which
he admitted that he had acquiesced in the
naturalization plan proposed by the COM |
mittee Of the board OF direction, Of which |
be was a member although il was not !
EAllhldtIbIN 10 lulAt "bulu luNllsg vi !
Hyde in Withdrawing from tho agreement !
which he reached with the Crinmins policy !
holders committee. II was Mr.. Hyde's .
understanding they said, that when he /
consented to the first -four year |
naturalization arrangement this was en-
tirely acceptable to Mr. Alexander and |
would end the controversy. Instead Of |
ending 1t. the Hyde people charge, MIR. !
Alexander retained Frank II, Plat to or |
ganze the Crimmins committee and keep /
the controversy alive. This, IL was de- |
clared yesterday, will be charged directly |
against President Alexander in the board |
Of directors meeting this afternoon. Mr.. |
Alexander also would be charged in the |
meeting, it was said, with having instigated |
the suit known as the Brackett-Mary Young |
suit and tho action taken 10y Senator Edgar |
T. Bracket in the Office Of the Attorney |
General and in the Legislature.
CAN HYDE ENFORCE his WILLY
Its doubted II Mr. Hyde would be success |
ful should he try to have the two year
naturalization agreement rejected; that Is, I
would not be able 10 control the votes Of /
a. 4, F.tm Tt-ls { a.