The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-11-15
ODELL ACCUSED BY
HYDE, WILL REPLY
Continued from First Page.
discovered the society didn't have thu

u!sGoVelGu Che socIeCy olun ndVe the
7What Was the third offera"
$1o666oo th from ' NJ Tarbe af f. IN.
formed me that he had syndicate Of
gentlemen ready. to purchase it. This
was some time in. February
WWhat was the next offere'
George W. Young of $7,000,000. I
ruary or the beginning of March; I am
not sure. of the exact date.'
Mr.. Hyde testified that the only Of
fer for. his stock made after the Prick
report was Mr.. Ryan s.
The Mercantile Trust.
:. Reading from the acts Of 1868, 1869
and 1870 incorporating the Fireproof
ttsd4 company, and amending me Sig
camille Loan & Warehouse company,
and subsequently in 1875 changing the
name to- the Mercantile Trust com
P PSny Ut the eTc nTGRgn oes come
pany's charter. He tpen read a bill
introduced tby SenateI Ambler in the
senate in March q l9Ws1 to repeal all
>these acts and amenda hts. The effect
Of this bill, # passed would have been
without a chartes.
F Mr.. Hyde here made statement de.
,nying that he or hesEquitable Life had
anything to. do with or. any interest
in the United States Shipbui1ding com
pany or its securities.
Deals with Squire.
On March 16, 1901, the Equitable
56feg A Is tHs s9esy bHnght 2oee
company at STA share, and two days
later sold LOO shares at the same price
to George H. Squire. Mr.. Hyde said
he did not know 0 fthis deal, tho he
mittee and did not know that the stock
was worth a great deal more a short
time after. Mr.. Hyde said he sold tc
the society, on Oct. 13, 1904, 2S6 shares
only transaction he had in this stock
The price was the market price at thai
time. Stocks were bought on Mr.. Hyde :
account from Williamson and Squire
but Mr.. Hyde denied that he hao
bought from them and said that nc
one had his power Of attorney. BE-
knew brokers were picking up. thl'
stock, but did not know it was beins
bought fol-, any of his own committee
Some Of the purchases, he said, were
HYDE knew nothing about it and neve7
! had any conversation with Mr.. Jordan
upon it.
American Deposit & Loan company t.
the Equitable Trust company, OFFICER
of the Equitable Life were buying tn
stock Of the Lawyers Title lnsuranc
company in the name of the American
! n O. otr6 fol L I'M
the profits on the stock. This was tn
first Mr. Hyde had heard Of this trans
action. -.
Mr.. Hyde said he could not remem
Der that he had ever received an.
George q. Squire, and It would be diff
cult to refresh his memory because hi
books have been in most confuse
/ state since he left the Equitable Life
H gid ae rot 10 bn ss that Rok to was tSe posse
without the knowledge of the executiv
committee. but thought it could be don
by an arrangement with the president
| Mr.. Hyde said he was unable to ascel
| tain who held his power of attorney
while he was abroad because when h
returned, the papers were always dc
stroyed. =.
. Hyde in the Dark.
:. Senator Armstrong asked the witn,es
if an obligation purporting to have bee
made at a time when Mr.. Hyde wa
abroad should turn up now, how h
could determine if it was a legitimat
transaction. Mr.. Hyde replied:
/ IT don't know, sir. 1t would b
very embarrassing. y" =.
The amount Of expenses incurred b
Mr.. Hyde on behalf Of the society wa
not gone into, Mr.. Hughes announcin
that this matter was covered in the re
port to superintendent Hendricks, an
it was not his purpose to 60 into MAJ
ters so covered because Of the limitatio
of the committees time.
Mr.. Hyde added to his statement i
that report, an explanation of the car
used in making up the report Of thes
expenses. He said that he would hay
been glad at AMY time to have gone owe
these expenses with any members Of tn
executive committee, but he was neve
asked o question about them, nor was h
ever asked for an itemized account Q
them.