Albuquerque citizen., 1907-12-06
OTHER DIRECTORS ALSO
OFFER RESTITUTION
Sale OF Equitable Bulldind in New
York For Sl6.OO0.0O0Is Blocked
by Burdensome Hyde Lease
Compromise Blocked by
Attorney General.

New York, Dec. e.-The latest
move on the part OF any of the old
BOARD OF directors Of the Equitable
dIe Assurance association to settle
with the company the claims against
society to Thos. r. RyaI, in I,ns
1905. Hdye has offered toNmake re-
stitution to the company of various
sums aggregating approximately ST.
100000, provided all suits against
MN, including those brought by the
attorney general on behalf OF the
people of the state Of New York. be
Withdrawn. Up to the present time
cepted.
The offers were made on behalf of
MT Hyde through his attorney. sam
uel Untermyer. Mr.. Hyde left this
country in the fall of 1906 after he
nau appeared as witness before
the legislative Insurance Investigation
conducted by C,.rles E. Hughes. BE-
lore leaving he sold his magnificent
country place at Bay Shore, l.. l.. his
horses and carriages, his private car
ana nearly everything he could con-
vert into cash. He went to Paris.
wnere ne has since lived in prlncely
Hyde's Net Profit May BE 81 900 600.
For the 500 shares which repre.
sented the stock control of the quit
aoie lAfe and carried with 1t not only
the domination of that framense
company, but of the Mercantile Trust
company, the Equitable Trust COM
pany and several other important
Mr.. Hyde s2,6Oo, 900. The fees TO
his lawyers and the other expenses
OF his long campaign to retain con-
troll OF the Equitable amounted to
approximately 100000. II his offer
Oh ", 100000 Is accepted he will have
but $1.o00.o00 left OF the money he
got from Mr.. Ryan for parting with
one or the most valuable corporate
properties in the country. This, of
course, does not represent all of Mr..
Hyde's wealth, as he Is believed to
have several millions invested in 9TH
er properties.
In the summer OF 1906 Julius
Mayer. then attorney general, brought
an omnibus suit against Hyde and
the other forty-nine directors of the
Equitable Life, charging waste of
the policyholders' funds The suit
called for restitution of all the profits
or syndicate transactions In which
Mr.. Hyde and the group of Equit~
able directors who were close TO him
had engaged This group was known
as James II. Hyde and associates"
nis ttgdc ndu duHlltleQ making per-
sonal syndicate profits OF $62,233l5l,
and early In the spring of 1906 had
endeavored to end the internecine
war in the Equitable by sending his
check for that amount to James w.
Alexander, then president of the
Equitable: Mr.. Alexander refused to
turned it over to Michael Murray,
cashier of the Equitable, with in
structions to him to pay 1t over to
the company II the courts decided
that the syndicate's profits should
be returned. There has been no de-
cision on that point, ana the check
is still in Murray's possession
Directors Make Small ProfitsI
Some few of the other fifty diree-
tors of the Equitable under the old
regime have made offers of settle-
ment, but for trivial amounts as
compared With the sum offered by
Mr.. Hyde. The names of these men
and the amounts they have offered
could not be learned yesterday. IL
was positively said, however, that
Chauncey Depew was not one OF
those who offered to make restitu-
ton.
For nearly two years committee
OF three directors of the Equitable.
consisting Of ]. Edward SwanstrOm,
or Brooklyn; Thomas Spratt, of
Ogdensburg, N. Y, and Charles II.
zehnder, of Philadelphia, have been
investigating all matters for which
members of the old board might be
held financially responsible. These
directors were elected by the policy
holders since Paul Morton became
president, and were in no way con-
nected with the Hyde regime.
President Morton said yesterday
that while the committee had made
a detailed report 10 the other diree-
tors he did not feel at liberty to dis
close its contents, as the committees
work was still unfinished.
Even II the Equitable Life was
willing TO accept the offers OF resti-
tuition made by Mr.. Hyde and other
directors IL could not fulfill the con-
ditions imposed-that OF having the
suits begun by the attorney general
Thomas Sprau, OF the committee
Of three, has had several conferences
with Attorney General Jackson and
his chief deputy in this city. James
A. Donnelly, concerning "a withdraw
al OF the suits provided an adequate
amount OF money were restored to
the company Mr. Donnelly investi-
gated and then made a report 70 At
torney General Jackson IN which he
said:
Should Reject Proposition.
II am OF the opinion that any
OF settlement short OF