New-York tribune., 1905-04-17
gave UP $4,000 PROFIT"
IN HYDE SYNDICATE"
Assertion -1bout President Alexander
-Relofiucs on Equitable Payroll.

Games n. Hyde had restored 10 the Equitable
Life Assurance Society more than 100000
which represented profits from underwriting
eyn6ioates I'm which he misused Equitable
funds. a prominent Hyde man declared last
evening thar James ". Alexander. president OF
the society not only shared the profits OF that
syndicate. but had returned $4,000 to the
society. This $4,000 was only small part OF
his profits in The twenty years he had been
concerned in this syndicate or similar ones. IL
was declared.
In thus turning over the money 70 the Equita-
Re treasury, Mr.. Alexander wss only following
the example of Mr.. Hyde. Such action did not
mean that ne considered his connection with the
syndloste nlegal or questionable any more than
did Nr. Hyde It was taken on advice of coun-
ssl as Mr. Hydes action had been taken. that
fhe Equitable directors might decide this
question Of having its directors in outside syndi
cates without having the principals embar-
raised by the possession OF the profits while the
propIiety Of The transactions was under discus
sion.
This payment Of $4,000 was made tc the
treasurer Of the society in February. it de-
olared on Saturday night. Mr.. Alexander. in
reply 10 Mr.. Hyde's letter TO Mr.. Prick. declared
shat he had had no connection with the under
writing syndicates-
Some advance Information. which in time viii
come 10 the notice OF the Frick committee be-
came public yesterday. Mr. Alexander. in an
suering the questions bout employees of the
Equitable who held places through relationship
~ high oficisls would have 10 show that the
Alexander family drew approximately $196.O0O
o year from the society. dr. Frick had that
particular phase OF the societys management in
mind when he framed his questions. st was de-
clsred
The transcript Of the socety's payroll. # was
declared would show that the Alexanders and
their relatives draw salaries es follows:
James u. Alexander, president. 100000
William Alexander. his brother. secretary.
$4,000
Henry NJ Alexander. son. member of the law
Hrm Of Alexander & Colby, $4,000 retainer
Bnnually. not 10 mention fees
Frederick B. Alexander. another son. member
pf the brokerage firm Of Alexander Thomas &
Davies, fees and commissions approxin1ating
$4,000 a year. Mr. Thomas. Of this firm. is a
slephew Of James w Alexander, the president.
Or Arthur Pell medical director, brother
an-law Of James u. Alexander. $4,000,
nephew Of the president. a Mr. Gilchrist.
employed in one Of the departments. $1,000
scar.
when it was asked how many Of Mr.. Hydes
gelatives had obtianed lucrative places in the
Equitable through his influence. the reply vas:
.Iot one. Henry B. Hyde. the founder of the
hut their salaries were small. Sidney Dillon
Ripley the treasurer. who died recently, was an
oaoer because his wife was the daughter Of
Henry B. Hyde. and. az one OF his heirs. she
MAS one Of the three controlling stockholders in
sbe Equitable"
Mr. Alexander was interested equally with
ar. HYDE in every one Of these syndicate deals,
declared the friend Of Mr. Hyde. who furnished
this information. The deposit of $4,000 which
should have been as much as the deposit made
by Nj Hyde. I want it clearly understood that
Ta who arc Mr.. Hyde's friends are not accus-
sng Mr.. Alexander of any wrongdoing, We
simply say that whatever is said against Mr
J4yde's connection with this syndicate applies
20 Mr. Alexander well. We do not think
shere was anything questionable irregular.
Te believe the transactions were regular in
every way. and / suppose Mr.. Alexander does,
Toe
The Equitable could nor underwrite bonds.
hat it could buy them If they were good. safe
Investments. The syndicate could underwrite
End sell bonds. but r. could buy them. As
70 the bonds purchased by the Equitable from
fHis syndicate. Jet me give to you case in point
Take the TWO japanese war loans. The under
writing syndicate got only 2 per cent out of
7hat and the Equitable got IS per cent on those
TWO transactions j. purchased the japanese
q
, points foT the Equitable on those transactions
aone I might cite other instances equally IA
7nrable II 7 desired"
a NIGHT CONFERENCE AT UNTERMYER'S.
A conference which had for its object an at
tempt 70 bring together the two factions was
hsld last night between Samuel Untermyer. Mr..
jTydes counsel. and Bainbridge Colby. for Mr.
Alexander. AT Mr.. Unterlnver's home. After
;nore than two hours discussion Of the situation
2Fr. Colby went away. Neither lawyer would
islk but If was the impression that no truce
tad been declared and that the warfare would
! as bitter as ever.
Nr Cnternlyer came down from Yonkers last
esening. and before he met Mr. Colby had talks
with Mr Hyde and William c. CULVER. another
of Mr Hydes lawyers. He also talked with
l7ihu Root over the telephone. it was under
$1,000
According 10 report which gained circuls-
zion Yesterday. George T. Wilson. fourth vice
president of the society. who has been consid-
cred strong Alexander man. has changed
SIDES. and if not now actually adherent Of
2r. HYDE is trying his best 70 remain a neu-
irai
MANY n the general agents who will attend
fhe meeting called by President Alexander for
tomorrow reached this city yesterday. About
s the others who come from out Of town viii
reach here today. The out Of town men all
seem 20 re for Mr.. Alexander and Gage f Tar
he'll. agency director. with whom they do their
business. The Hyde men win be those agents
in the metropolitan district il was said.
You may he sure that II any getting out IS
l. be done 81 won't he done BY Mr.. Hyde
declared one Of his friends This meeting Of