New-York tribune., 1906-06-04
]. H. HYDE'S BIRTHDAY.
He Would Haze Controlled the
E0uitabIe Negt Wednesday.

James Hazen Hyde, who year ago next oN's
day gave up his control or the EAuI'aole Iie
surance Society by selling sol shares OF ms SUE
~ syndicate headed by Thomas F. Ryan, VIII on
II,,nes5o,, he thirty wears old. When he sold his
stock he resigned as vice-president of the society
and has since lived in Paris.
1rpdar the old order of things Mr.. Hyde's thirtietn
b,rthday would have been important point IN
bis life being the time at which the trust by whlch
500 shares OF his stock had been held. would nave
exnir.d and the stock would have been turned over
+o him AS under the terms of the trust. 1t could
not expire until Mr.. Hyde's thirtieth birthday' pe
sale OF his stock could not be consummated untli
that time although to all ntents and purposes the
Ran syndicate has been in possession OF III slhce
Trne g. 1906 when the latters offer of 2,5coOo 1or
5o1 shares of Mr. Hydes holdings was accepted.
The deed of trust for 500 shares was originally
cxeouted bv Henry B. HYDE. father of James
Leon II,da and founder of the Equitable, in 1880
seven trustees were named. James Hazen Hyde
became one of the trustees on reaching MS ma
icrity and when he became twenty-five years oiu
The trustees were reduced in number to three the
others being Louis Fitzgerald and James w. Alex
a,der president of the Equitable Mr. Fltzserald
later resigned. and was succeeded by William H.
Mcintyre.
Mr. Hyde parted with his stock on the express
that the control of the society snould
cease to be vested in any one person, ana that 'e
nave of voting the stock should be turned over u
three trustees. of standing, not connected win
aay financial institution. They were to vote II Ior
tventy-eiSht directors. according TO the ihS'luC-
TINS of the policyholders and for twenty-tour al
rsctors according to the uncontrolled judgment VI
the trustees o..
In pursuance of this arrangement Grover @ CreV
land. Justice Morgan J. O'Brien and George "e0'
inghouse were named as trustees. steps nave i
Gently been taken to bring about a selnl-rhutidii-
zation of the society by having the charter SO
amended that twenty of the hfty-two directors
shall be elected directly by the pelicyhoiaers' a'
oording to the provision of the Armstrong law;
That the charter may be amended, counsel Tor
the company will to-day make application to the
Appellate Division of the Supreme Court BROOKLYN
for modification of the injunction order IN the suiI
Of Franklin B. Lord and other minority STOCK
holders to prevent naturalization.
Public notice of a meeting of the stockholders OF
pose pos S considering appEOving the proposed se
amended charter. Is published this morning namnssnded
It announced that any action taken at the meier nTr
ing be within the limits Of the lnjunctoh o'ue
III An ofiicai Of the New York Life said yesterday
e at hsy about had Re by sWann
ley Co. lawyers in f that city ydT 70 GTgen4d fe ad the
Equitable If any letter had been received by his
company from the LAWYERS aSkbg b fsd i9F 'ne S' u
The same official said the statement that the New
the frm making the lists Of its policyholders that
lists should be made for outsiders was anso-
the sTens9n Of tine % by The Hng law epaf Tsfe
G0unSeI I4P AnEIew ntl iF in witch to serve the
complaint in their suit against the former head OF
the supply department expires tomorrow. 1t was
said on Saturday that further extension hac
been asked. In view of the revelations of the
money obtained by Fields and the way he obtained
it. the complaint Is expected be a most interest
ing document. The Mutual may serve an addi-
tionaI complaint to-day in the suit against Richard
A. and Robert H McCurdy.
The grand jury has number of questionable
bills paid by the Mutual to investigate this week.
There is more than a hint that some indictments
may he handed UP before the grand jury adjourns
next week. although II thought that this work
would be left another grand jury.
Counsel for Richard A McCurdy said yesterday
that whereas the former president of the Mutual
had promised the District Attorney to return if
he should be indicted, he made promise TO
turn to testify before any grand jury.