The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-05-24
INSURANCE GRAFT.
HHYDE is EXAMINED ON EQUIT-
ABLE DEALINGS.
superintendent Hendricks Questions
Him Five Hours-Untersneyer
Excluded-Alexander E&-
amined.


James 3. Hyde of the Equitable Lie
ssnrance Society spent more than 8
hours Yesterday before State Superin-
tendenf of Insurance Francis Hem
drieks and his counsel, Congressman
Driscoll OF Syracuse, answering
st,e charges that have been made
against him as an officer and director
Of the Equitable. Mr.. Hyde was ex-
ahmed under oath and without the
nresence of counsel, Mr.. Hendricks
having objected to the attendance of
any of Mr.. Hyde's lawyers at the
nearing.
President James w. Alexander
VAS examined BY Mr.. Hendricks and
his inauisitor late Tuesday afternoon,
and he also was unattended by his at
ferneys and was examined under oath.
examination of President Alex
ander had to do chiefly with the
s charges that have been made against
hirn that he participated equally with
ksaIr Hyde in tranactions of the
James IA. Hyde and Associates un-
SerWriting syndicates, in which secur-
tiles were disposed Of at profit to
the Equitable Society.
what passed between Superinten-
dent Hendricks and Mr.. Hyde in the
Aboard If directors room in the Equi-
table building where the inquisitons
were held yesterday is moi, of course,
known IN detail; but the subject mat
ter on which Mr.. Hendricks will con-
duet his entire examination Of Mr.
HYde. is matter Of definite know
ledget persons outside the state de-
partment Of insurance. Mr.. Hendricks
Wouid not say yesterday that his ex-
Of Mr.. Hyde had been COM
pleted and it is expected that he will
be put on the stand again this morn
e The examination of Mr.. Hyde yes
ferday also had to do largely with the
charges made against him as head OF
HE underw riting syndicates, which
sold securities to the Equitable; and
also With hs relation to the various
afet deposit companies, which have
Il s,ffs;ces ia the Equitable buildings II
this and other cites, and in which ne ne
IS supposed to be q large stockholder.
& revards the James a. Hyde ana
Assoeiates syndicates Mr.. Hendr1cks
has been supplied with the names OF
She men who, it IS alleged, most fre-
.,auently part ticipatd in thsse syndi-
cates they are, besides Mr.. Hyde,
Jacoh 81 Schif, u. H Hartman, Al
YIN 81 Kretch, IA. e. Derning and
VIlliam a. Mcintyre. Mr.. Hendricks
has id his possession, also, the infor-
zsatron that the Hyde syudicates IN
8 three years sold s1oo,ooo,ooo worth
of securities to the Equitable society
through Kuhn, Loeb & Co, and 9TH
er bankers.
That Mr.. Hendricks went into the
transactions with Mr.. Hyde yesterday
s. the greatest detail was the asser-
] tIon made by several enen close to the
Equitable situation They said that
the superintend not only took Mr.
Hyde.s verbal explanation Of the DEAL,
but sent out for all the papers and
documents available, relating to the
transactions. Everything that MI.
! eHyde said was taken down verbatim
by a stenographer who, together
with the superintendent and his coun-
se5 and a clerk Of the insurance de-
partment, were the only other per
sons in the roem. In the matter OF
the safety deposit companies in which
s Mr.. Hyde has large holdings. it has
been charged that they paid only
nominal rent for space for rent in
the Equitable building and that en-