Warren sheaf., 1905-11-23
HYDE Tells USE OF
MYSTERIOUS loan
HOSTILE SUITS BOUGHT OFF AND
EQUITABLE STOCK PUR-
CHASED WITH sass, 600.

Political Contributions Also Mad
from Big Fund-Former Vice Pres
ident Before Legislative Investi
eating COMMITTEES.
New York, Nov. 15.-James H. Hyd,
formerly vice president Of the EQuitl
bic Life Assurance society, testifyin
Aefore. the insurance investigatin
committee Tuesday, said that the o,
jects of the mysterious $685.. 900 loa
by the Mercantile Trust company t
the Equitable Life Assurance societ
were to buy of inconvenient suits, t
buy up the stock Of the Equitable as
:ame into the market, and to max
political contributions. Mr. Hyde sail
the only political contribution of whicl
he knew was that Of $4,000 to Cor
nelius N. Bliss, treasurer of the repub
1ican national committee, in the las
presidential campaign. This centri
button was solicited by H. c. Frick
said MI. Hyde Last summer when
the banking department called for the
repayment of the $6S5,000 and the
Equitable Life repudiated it, Mr.. Hyde
said Mr.. Alexander and Mr.. Jordan
raised as much as they could and then
a he Hyde, made up the balance, 1912,
a|656. He said be thought he was gen
erous in this, as he had not received
t.any benent from the loan
The syndicate operations of J. H.
Tyyde and associates was gone into
--xysry thoroughly, and II was shown
that in % syndicates Mr.. Hyde sus-
tanned personal losses Of $2S,615. Mr..
Hyde ascribed the apportionment OF
tthe Equitable's allotment of bonds in
Byndicates to officers of the Equitable
-: ~: 10 the customs and usages Of Wall
street.
~Fa...red Albany Influences.
Eblipsing all his sensational testl-
dnpny. however, we're the statements
of MIR. Hyde concerning former Gov
1dell and Mr.. Hartman relative to the
settlement of the shipbuilding com
pany suit against the Mercantile Trust
company. Mr.. Hyde said that MI.
Hartman came to him and advised
the settlement of Odells suit, as he
feared that powerful influence at Al
sbany would be invoked in fetaliatory
measures. Mr., Hartman suggested as
one of these measures the revocation
pf the charter of the Mercantile Trust
company. Mr.. Hyde knew of no actual
steps that were taken, nor of any bill
that was introduced, but he was beset
with rumors that such steps were
about to be taken by legisla'
Lion. The Equitable Life, he
said, was not interested beyond the
Trust company. Mr.. Hyde was under
the impression that the Mercantile
IN settlement retained the bonds and
paid Mr. Odell about $4,000. The ori.
-Kinal claim of Odell was about $3.50,
sDeO. The bonds subsequently netted
about SO cents on the dollar. Mr.. Hyde
said Mr. Hartman suggested the set
Element of the suit and that the com
aanittee of the Mercantile Trust advised
It, and he recommended it.
Hartman Denies Hyde Charges.
New York, Nov lie. H. Hartman
chairman of the board of directors OF
the Union Pacific railroad, former mem
Der of the board of directors of the Equit-
able Life Assurance society and connect
ed with many railroad and financial
institutions, the former friend of James
Hazen Hyde, against whom the latter
charged acts of an unfriendly nature in
his testimony Tuesday, was one of the
chief witnesses before the Armstrong
committee on insurance investigation
"Wednesday. Mr. Hartman was called
Immediately after recess. and his testi-
mony was a series Of denials of the
charges made by Mr.. Hyde
Emphatic Denial by Odell
New York, Nov. 17.-Former Gov
Benjamin B. Odell. Jr.. and United
States Senator Chauncey M Depew as
witnesses before the Armstrong legis-
lative insurance investigation commit
. 4ee Thursday, denied parts of the testi-
meny of James Hazen Hyde in which
-1heir names were used. Mr.. Odell in
the course of his testimony called Mr.
Hyde's statements "base calumny,'
and when he was asked whether he
dlirectly or indirectly had made threats
TO nave the charter Of. the Mercantile
Trust company revoked, his face
witness chair with his fist, he ex
claimed: There is no truth in that
statement, SO help me God!" Mr.
0dell said he had never solicited DO.
1itical contributions but possibly
some moneys might have come to him
through the national committee o.
Senator Thomas G. Platt, as the latter
had always gathered together the
funds in New York state except in the
last year.
Depew Takes Stand.
Senator Chauncey NJ Dopew was
called later. He never heard of the
various trustee accounts until this in
yestigation. He knew Of the campaign
contributions only in general way
He did not know the amount contrib