Albuquerque citizen., 1907-12-06
HYDE WOULD GIVE ONE
MILLION DOLLARS
TO LET LOOSE
CONTINUED From Page one0


absolute restitution of every dollar
OF profit realized by the defendants
in their manipulation of the funds
of the Equitable Life Assurance So
ciety should be rejected. ft
What the amount and the value
of the money and property alleged to
have been misappropriated by the
defendants is canot be ascertained
without an accounting. For instance
whether the amount of the prOfts
realized by James II, Hyde arising
out of syndicate transactions is S62.-
233.51 or a much greater sum is
something of which the attorney
general can have no knowledge with
out such an accounting.
Moreover the complaint alleges
that certain of the defendant direct
ors realized large sums of money at
present unknown to the plaintiff by
reason OF the leases therein referred
TO, and no settlement without full
knowledge on the part Of the attor-
ney general of the amount of the
profits realized from such leases
AS result of this report the at
torney general decided to push the
suits in the courts The trial of the
suits has been delayed by the tactics
of the defendant directors. They en-
tered demurrer which the supreme
court nndlly feIuseu 10 sustain. Inen
the directors carried their demurrer
up to the appellate division and
there suffered a second defeat. They
took their demurrer up to the court
Of appeals. Argument on the demur-
rer is set for this month and if At
torney General Jackson wins again
as he expects TO, he will at once
move to have the suits tried
Samuel Untemyer also commune
Gated with the attorney general, but
at that time, il is understood, only
offered to restore to the Equitable
Life the Hyde syndicate profits
amounting to $62,233.51.
Mr.. Hyde Is very anxious 10 have
the whole matter cleaned up. He was
served with the papers in the attor-
ney generals suit prior TO his depar-
ture for Europe. He wishes to be re-
lieYed from the position of being
called upon at any time TO leave
Paris. come 10 this city and under
go the ordeal of defending the suits.
The director OF the Equitable who
gave the information about the Of
fer of $l,O00000 for Mr.. Hpde, said
that this company recently had q
chance to sell the building at No
120 Broadway for S16,0OO,OOO but
that the buyers backed out when
they learned of the long lease at low
terms TO the Mercantile safe De-
post company. Inc buyers SAID LneY
would pay the $16,0O0,00O II the
Equitable could get rid OF the Mer-
camille lease.
Equitable Officers Eager TO Sell.
Though the Equitable block, which
includes the whole block between
Broadway and Nassau street and
Pine and Cedar streets, is considered
the most valuable single piece of
realty in New York City, and, there
fore, in the whole country, the $16,-
100000 offer was several millions in
excess of the valuation put upon the
property by the society. Previous TO
the offer, $1l,200,000 had been con-
sidered a fair valuation and II Is said
President Morton and other officers
OF the Equitable were keenly disap-
pointed by their inability to take ad-
vantage of the S16.000.000 offered.
The committee Of three has recent
ly been working to obtain a cancel
lation of all the leases held by the
Hyde safe deposit companies in
OF being able 10 eventually rid the
society Of those burdens.
J. Edward Swanstrom, one of the
committee of three. would only say
yesterday:
The defendant directors them
selves have never made any propo-
sition TO the attorney general for a
discontinuance of the suits Our
committee submitted a copy Of its
report TO the attorney general as a
matter of courtesy"
All of the details OF the Hyde Of
fer and the offers OF settlement Of
the other directors are contained in
I1l1aux,..xuuu..u.