New York has always been home to young men like James Hazen Hyde.
Handsome, cultured, and—as the heir to the Equitable Life Assurance Society—incredibly rich, Hyde was one of the brash young men Gilded Age newspapers couldn’t wait to gush about, and then tear apart, at the turn of the 20th century.
A Harvard graduate who loved art and French culture, he lived in his own brownstone at Nine East 40th Street and had his clothes hand-made in Paris.
Hyde raced “four-in-hand” coaches (four-horse carriages) with his friend Alfred Gwynne Vanderbilt, and he dated President Theodore Roosevelt’s equally social daughter Alice.
Hyde wasn’t publicity shy; he even commissioned a French painter to do his portrait (above), which gave him a royal air and showing off his dark Lothario-like looks.
He also enjoyed a good party. In 1905, Hyde threw what could be described as the most spectacular ball of the century: “a French 18th century–themed costume party for which he would be known all of his life,” wrote Patricia Beard in After the Ball.
The ball was held at posh Fifth Avenue society haunt Sherry’s on January 31. At 10:30 p.m., 600 guests were received in a two-story ballroom transformed to look like the gardens of Versailles. Invitees “wore costumes embroidered with emeralds and pearls, and jewels that had belonged to empresses,” stated Beard.
Society writers heralded the event the next day in all the papers. “James H. Hyde Gives Splendid Costume Fete,” wrote the New York Times, printing the names of notable guests (like Mrs. Stuyvesant Fish and various Belmonts) along with a description of what costume they wore.
But all the press attention from the ball led to his downfall. Though Hyde had a majority share in the Equitable company, he was to become president when he turned 30, which would happen in 1906.
Prominent board members who already wanted Hyde out of the company decided to use the publicity surrounding the ball to charge that he was “too frivolous to run a company,” explained New York History blog.
Rumors spread that he spent Equitable money to fund the ball, among other examples of sleazy business practices. Policy holders got angry, and New York State investigated.
In December 1905, with his reputation ruined (though he was never charged with criminal wrongdoing), Hyde took off for France.
He sold his Long Island estate, carriages, private rail car, and his majority share in the company his father founded and bequeathed to him.
He lived in France until 1941, when he returned to New York, “still attracting attention when he walked along Fifth Avenue in his cape and spats,” wrote Beard.
He died in 1959, dapper and wealthy but in obscurity, donating much of his art collection to the Metropolitan Museum of Art.
Hyde’s extravagant, excessive ball and the subsequent scandal make a fitting coda for the end of the Gilded Age . . . which is explored in depth and illustrated lavishly in The Gilded Age in New York, 1870-1910.
[Third photo: MCNY; 184.108.40.20608; fourth photo: MCNY; 93.1.19504]