Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-16
ODELL ON THE STANO
Former Governor of New York
Testified Today
IN INSURANCEHE
BEFORE INVESTIGATING COM
MITTEE AT NEW YORK.
Denied That He Ever Directly or Indi-
rectly Threatened to Revoke Trust
Company's Charter.
IN INSURANCEHEARING

stand IN the insurance investigation
in New York today.
Mr.. Odell denied that he had ever
directly or indirectly threatened to
have the charter OF the Mercantile
Trust Company revoked.
Mr. Odell, when again asked il
the Mercantile Trust charter was
threatened, dramatically exclaimed ::
There is no truth in that, so help
ME God :!
Senator Chauncey Depew followed
Mr.. Odell on the stand.
NEW YORK, November l6-B B. Odell,
tr former governor of New York and at
present chairman of the state republican
committee was the first witness before the
insurance investigating committee today.
Before his testimony was begun Samuel
Untermyer counsel for James II. HYDE en-
tered an objection protesting against the in
vestieaton of the affairs of the United
States Shipbuidiug Company by the COM
mittee
Mr. Hughes counsel to the committee.
began by asking Mr. Odell to tell the facts
pertaining to the Mercantile Trust Com
pany charter. and the witness said he would
prefer TO tell Of the whole transaction lead
ing up TO the settlement, if permitted Mr.
Tntermyer protested that If the committee
permitted this it would take them far out
side the legitimate line of inquiry.
Senator Armstrong referred the protest
TO Mr.. Hughes, who said he would call TO
~. 81, hot thn
matter which concerns the committee IS
simply the question whether there was any
political influence or pressure brought to
bear upon the Mercantile Trust Company,
directly or indirectly 10 induce a settle
ment.'
There was not" said Mr.. Odell.
"Will you state, governor asked Mr..
Hughes ''whether you had any information
with regard to the introduction OF a bill In
the senate for the purpose of repeating the
charter of the Mercantile Trust Company
That Special Legislation.
II knew of it at the time. yes"
"Who advised you of it?'
'I knew of 1t before its introduction"
From whom did you get the informa-
t,on7"
"Oh. various people as TO the propriety
OF the introduction of such a measure
did you suggest its Introduction
NO"
''Did you request It's lnlTouuCllOiL-
Il saw no objection TO II.
"Did YOU state that you saw no objection
TO the introduction of the measure!
AT the time it was introduced, yes.
ITO whom?
oh to any one who asked me; 1 have
What was the ground for that action or
spproval?"
Simply because the scandal incident 10
the shipbuilding trust was uppermost In the
people's mind and 1t was claimed that the
Mercantile Trust Company had been behlho u
fifteen or sixteen corporations. every one OF
them had been inSolvent and IL was time
/ thought such matters In the state of New
York should be stopped.
Senator Depew Present.
ybua Mr. Odell was testifying Senator
Depew entered the room.
continuing Mr.. Odell said that the bill
was intended to provide for an investiga-
tion of the Mercantile Trust Company. He
could not recall that he had an interview
with Assembyman Fish with regard to the
introduction in the assembly OF piil SIM
liar to Senator Ambler's repeal Dill.
His only interview with Senator AMBER
about the bill was after II had been intro
duced. At that time he had no suit pendlns
against the Mercantile Trust Company. d's
suit was brought in August, 1904; When the
bill was introduced In March. 1904, the wit
ness said he had every dollars worth or MS
shipbulding holdings.
These holdings were sold al auction and
brought S436S7 against $l64 III paid for
them Since their sale witness has had no
interest In the shipbuilding company. The
sale was made because he felt that there
would be matters OF legislation coming up
affecting Shipbuilding affairs, and he felt
that the governor should not be interested
directly or indirectly In the bonds. He con-
templated bringing an action against the
Mercantile Trust Company in August, 1904.
Interview With Schwab.
He had no interview with ]. +. Morgan
regarding his shipbuiding claim. but did
have with Charles NJ. Schwab, His inter-
view with MI Schwab was when the COM
pany was in the hands of a receiver.
Did you make any statement 10 any
body in the city OF New York that retalia-
tory measures OF any kind would be TAX
en?'' asked Mr.. Hughes.
Never
camille Trust Company or any one else
would be taken If your claim was not set
tled?''
Never"
lie never made any such statement to
Mr. Hartman. nor did he ever have any in
terview with Mr.. Hartman in which IL was
suggested that Hartman should use his
influence 10 procure a settlement of wit
ness claim against the Mercantile Trust.
Never Used Any Threat.
Then said Mr.. Hughes, Il understand
your testimony Is that you never directly
or indirectly used any threat to procure a
settlement Of that suit?"
mo. sir
WAS the legislation which was proposed
by Senator Amber in any way a topic OF
conversation when the settlement of your
suit came up?'
Never, eNcepting-yes when had talk
with Mr.. Hyde, he spoke OF II and / told
him no matter what the outcome of our
settlement might be, whether / should &c
into the courts or the case should be settled
by the Mercantile Trust Company that
there was no fear OF retaliatory legisla-
ton"
Had anything occurred to change your
mind as 20 the propriety of the Introduction
of such measures?'
Yes, sir. The fact that the base calumny
which Mr.. Hyde uttered here had been cir
culated In the papers. and called Senator
Amber in and said that. as desirable as
/ believed the legislation TO be, I feared
that my unfortunate connection with the
shipbuilding matter was of such character
that it would be better for him to drop thi.