The Birmingham age-herald., 1905-11-15

salary but declined. The president and various members of the executive com mittee then suggested that he had quail fled himself by two years work and he should have a salary and President Alexander, In 1900, fixed 1t at S30,0O0. MT Alexander asked if this was agreeable to him 0Hyde). In 1902 Gen. Louis Fitz- gerald resigned as chairman of the H. nance committee and Mir. Hyde was ap- pointed to the chairmanshlp. For the added responsibility failing on MT. Hyde his salary was advanced to SO,0OO. His duties constantly increased in the | various departments and in 1903 his sal ary was made $l00000, at which it remain ed until his resignation last spring. The witness never spoke to any of the offi- cers or members of the executive com mittee or in any way suggested an in crease in his salary.
 Causes a Laugh.
 Mir Hyde was asked if he was willing to serve the company at $75,0oo salary and he replied that he was, and he caus- ed a laugh by remarking that he did not think he could get 1t any where else. list of MT. Hyde's directorships' also his personal stockholdings in companies in which the Equitable was interested, was presented and introduced in evidence Mir. Hughes said it was not his purpose to go over the matter covered by super intendent Hendricks report. MT Hyde was asked if money could be obtained ] on his voucher without it coming under the notice of any other officer Witness said it could be done and that this method was put into effect by an order or the president.
 Mr Hyde knew only by hearsay of the George H. Squire trustee account. The syndicate to float the s5oO0oV0 lnterna- tlonal Mercantile Marine company was the syndicate in which MT. Alexander asked MT Hyde to give c. H. Squire, l trustee, a participation, from the snare 1 of "J H. Hyde and associates" His at 1 tention as vice president of the Equitapie Trust company was never called to the Suuire account. He did not know of what Mir Squire was trustee and never m uuired why MT. Alexander wanted him l to give George H. Squire, trustee, par | ticipation MT. Hyde said he received l salary of $5000 when he became vice pres l ident of the Equitable Trust company and in 1903 this was advanced to sl2'ooo.
 Curiosity Was Not Aroused. l Of the International Mercantile Marine syndicate s25o,Ooo was allotted to George H. Squire, trustee, by J. H. Hyde and associates. When Mir. Hyde called on the Squire account the amount was bor- rowed from the Equitable Trust company, but MT. Hyde says he did not know | about this. His curiosity as to the Squire account was not aroused when he was asked to make the allotment, but he has since learned that 1t was the purpose to apply the profits of this account to the payment of the $6S5, 900 to an account of which J. W. Alexander and Thomas D. Jordan were trustees. ln- stead of profits there was loss. MT Hughes said that the matter would be taken up later.
 MT. Hyde was asked where w. n. Mcintyre former fourth vice-president of the Equitable, was, and he replied that he had been seen by the newspapers in | Boston. MT. Hyde wrote him letter there to the Hotel Tourne about month ago. MT. Hyde said he had never heard of or ever known of the Marcellus Hartley account, nor the Louis M. Bailey account. Neither did he ever hear of any building operations in the name of Louis M. Dudley until few days ago, when informed by his counsel
 About Political Contributions.
 In the fall of 1902 he first heard of the J. w. Alexander No. account, the S6S5,OOO loan. It was brought to his att tention by President Alexander, who said that he (Alexander) and Jordan had in cured large expenses on behalf of the
  terfere with business to purchase stock that had been bid up to fictitious values and that was being used as an argu- ment against the company and lastly, po- ltical contributions. Of the latter, MT. Hyde knew of but one, and that was the one to the national republican commit tee. The contribution was asked of MT. Hyde by MT. Prick, who suggested 1t for the benefit of the society. The money in this No. 8 account was procured from the Mercantile Trust company on a letter MT. Alexander had written as president | of this institution. MT. Hyde said the letter practically placed him In the posi- tion of guarantor. Asked in connection with the Squire account if he did not inouire where the moneys of the Equi- table Life went MT. Hyde said that was an illustration to show that he was un- fortunate in relying on others he thought would do right.
 MT. Hyde became vice-president Of the Mercantile Trust company in 1903 and re- | celved a salary of $10.0O0, which was in- creased in 1904 to s12,0O0.
 Assumes Control of Business.
 MT. Hyde said he did not look up the J. w Alexander No. account because | when he became an officer of the society he did not try to disturb existing condi- tions He familiarized himself with the business and then assumed control of the new business as 1t came in.
 A credit of s26.Ooo on the No. ac- count it was brought out was the profit on a participation in Lackawanna steel. MT. Hyde said the participation was or fered to him and he referred the offer | to I. H. Hyde and associates for whom Mr Mcintyre acted. MT. Hyde, how ever. assumed the liabilities of the so- cietys participation and if there had been a loss the Equitable would have lost nothing, as it was Mir Hyde's personal finances that would have been 'n'oivea. | Other credits MT Hyde knew nothing about. He then said that last summer when the banking authorities called Cor the repayment of the loan which the Eouitable Life had repudated, the indi- vid,lals were looked to for it. MT Alex l ander and Mir Jordan raised as much money as they could and then NJ. ioyue
 aaia tbe balance of s212.o0o He inciden- 1 tn 4,a.,.l,t ha was generous In this. as