The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-12

+ the record wronss 4. can only explan
No doubt the sale had been made to the
Equitable by Mr.. Hyde, You are misln-
o, We asked Mr.. Hyde for u copy OF the
syndicate agreement for the purchase OF
thnt stock tie said it was not in MS posseIssoh
r1@ we hav that sd, and Mr
we're parties to it. Ne asked Mr.. Hyde to
furnish us with copy of that synd lcate agree
mept,. He said that he was unable to do SO.
and II we wanted it we would have to nsk
Kuhn. Loeb Co, for it,, A. You have the
a right. in matter in which. as far as We are
concerned the Equitable is not party. to
furnish you anything?
not party we have no right to ask you bout
it. But the Equitable seems to have been
ton ton to n ns'' / say that Mr' HYDE has never
informed Kuhn Loeb 4 Co. that he has made
any, transfer to the EQUITABLE company rt W
syndicate agreement is no secret, II simply
states that certain parties have concluded TO
buy 40 200 rnon Pacific preferred stoGs
and that Is the whole essence OF the syndicate
HYDE EXPLAINS o. p. SYNDICATE.
When James H. Hyde was asked to pro-
duce the syndicate agreement concerning
the purchase of Union Pacific preferred
on Jan. l, 1905, he said
4Mr. Hartman asked me II I would go
In on behalf Of the Equitable to this syndi-
cate, and / couldn't without consultation
consulted with Mr.. Alexander, and he APP
proved it. He asked me if / thought 1t was
a good thing, and l thought it was very
strong syndicate and it was good stock
and it was going to be better stock, and 1t
was in every way good investment. Har-
rirnan thought he was doing me favor in
letting me In, and | went in on behalf OF
the Equitable. l myself have never had
any personal interest in the matter and
have never made any money out OF It,"
Mr.. Hyde exhibited letter from MIR.
Alexander promising that he should be
any personal loss which he might incur.
Q. Is it true that all the Union Pacific pre-
ferred stock stands in. the name oil parties
In the Office of Kuhn. Loeb 4 Co.? A. That
.. i the $, ndcqte asr,cemeIni, providing
that the stool should not be sold Il purely
sneehhlatve y 's purp"%se rs snT nn'ae e
surance company A. That of course, is a
Sir. AI H and i didn't think 60, ,~.,
y. You say you have no copy OF the Union
Pacific agreement? A. ! have no copy III
my possession, Mr.. Hartman refuses to give
1t to me.
LOSS ON SALES OF TRUST COMPANY STOCK.
Later in the inquiry Mr. Hyde was re-
called and questioned as to Equitable mold
ings in the American Deposit and Loan
Company and the Mercantile Trust Com
pany. It appeared that the society fire.
quently sold stock to selected persons for
less than it had paid for it. George Gould
got 100 shares of Mercantile at $500, when
the Equitable was paying $sl5 for the ock.
This was Mr.. Hyde's ex PLANTATION:
Mr.. Gould contributed more business
than almost any other director Of the Mer-
camille to that concern and We wanted him
to he personally interested in the concern.
Later, when Mercantile stock was being
bought Ivy the Equitable at $1,000 and $luO2,
L. ii. Hartman purchased 100 shares ut
$50 from the society Mr. Hyde explained
that the reason was the same as in Mir.
GOulds case.