The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-28
FLAT DENIAL MADE FOR HYDE
THAT ms SYNDICATEs WENT
INTO 4. 3. SHIPBUILDING

FACTION In the Equitable IL Rack Of
the sult-Dreaser Denies It-Sayu
IIe'Il Examine Hyde Before Trial.
,Nnuel Untermyer, counsel for james
II HYDE. denied fatty on behalf OF his
client yesterday that any Of the james
II. HYDE and Associates underwriting
svndicates had ever participated in any
way in the shipbuilding venture, as charged
by Daniel lie Roy Dresser In his suit to
recover 5000 900 which he says he lost
in that enterprise through the n u Iulent
practsss Of Mr.. Hyde and others con-
nected with the Equitable directorate
Speaking az one Of the Leading counsel
in the late Shipbuilding investigation,
as well az for Mr. Hyde, Mr.. UnteTmyer
said:
Il see that poor Dresser Is again being
used as a stalking horse OF course,
We know the men behind the guns and
whose chestnuts he Is trying to pull out
Of the fire. From what l know q s lip-
building affairs his present complaint Is a
fine work Of the imagination.
MI James II. Hyde never had the re-
hottest connection whatever with the Ship
building business or the purchase or un-
derwriting Of its bonds or with any aspect
Of that transaction. never heard his
name mentioned in connection with any
phase Of the business until the people be-
hind Dresser thought 1t would be brilliant
idea 10 drag j. II. Hyde and Associates
into this business for purposes Of their
own. But they have guessed wide Of the
mark
Il am instructed to deny the whole story
in the most emphatic manner. This ic-
ton like many others, such as the wicked
falsehoOd that has been sent broadcast
throughout the country that part Of the
expenses Of the ball given by Mr.. Hyde
vas paid out Of Equitable funds, IL fair
illustration Of the lengths to which some
people are willing to go to mislead and
rejudiCe the public.
it j. amazing that even Dresser could
have been got to sign a complaint con-
tanning the assertion that Mr.. Hyde was
ever Interested in Shipbuilding or had any
thing to do with it,"
That the suit had been brought In the
interest Of Mr.. Alexander and those as
ISOLATED with him in the present oontro-
versy was denied yesterday by both Mr..
Dresser and the supporters OF Mr.
Alexander.
4 alone am bringing this suit, asserted
Mr.. Dresser. Il have never TO my knoWl-
edge seen OF talked 70 Mr.. Alexander or his
attorneys. Mr.. Alexander has absolutely
nothing TO do with IL. II Is just coinci-
dence that the defendants in this suit, Mr..
Krrch, Mr.. McCook, c. B. Alexander, Mr..
CULVER, Mr.. Deming and Mr., Hyde, are
mixed up in the Equitable troubles and are
hostile to President Alexander
Mr.. Dresser reiterated yesterday the
charges which he makes in his complaint
and add ID further accusations TO them.
He is prepared TO show, he says, that the
james H. Hyde and Associates under
writing syndicate was the instigator OF
the 'Shipbuilding swindle' and that It's
y,lr,kar1 AaCaiTad him TanQFdinn fQOfQ
and figures involved in the venture. Thres
of the members OF the syndicate, besides
Hyde, he says he knows, They we're,
he declares, John j. McCook, G. B. Alex
ander and Alvin Krech. The other mem
bers Of the syndicate, he decla red yester-
day, would be known definitely IN few
days, for he intends, he announced, TO ask
for an order from the Supreme Court Of
Nassau county, where his suit has been
begun, to compel Mr.. Hyde to disclose
under oath the names OF the persons as
ISOLATED with him In this James H. Hyde
and Associates syndicate.
> Dresser said that he would show further
IN his suit that the Mercantile Trust
Company turned over to him bonds Of
which they were merely trustees, for the
purpose Of enabling him TO borrow money
to underWrite Shipbuilding securitie 9,
These bonds, he said, were SIC 500 900 worth
Of shipbuilding bonds,
This Hyde crowd Dresser declared,
] would stay there, but didn't For two
years / have been collecting evidence and
now l have them where / want them.
want to 90 on the stand myself, but, even
more than that, want to see Hyde and
his associates on the stand.
What the threats were which Dresser said
had been made against him in an effort to
deter him from making disclosures was
explained yesterday as follows: Soon after
Dresser was subppned in the Shipbuilding
Il ~ haaE NHaA NaNH
a lawyer asking him TO call, The lawyer
said he had certain documents and evil
dence which might In the course OF time be
brought TO the District Attorneys notice
and cause Dresser a lot Of trouble. Later,
Dresser says, he was informed by friend
who had received the information through
a chain Of five men that Dresser was up
against one Of the biggest money powers
In the country, and that his private life in
Paris might be laid bare
William Nelson Cromwell yester day
disposed Of the report that his firm was
behind an organized offort to have a re-
ceiver appointed for the Equita ble's surplus
In every State in the Union He issued
this statement:
L consider a receivership, even II there
were grounds for il, as destructive Of the
interests Of policyholders and stockholders
alike, public calamity and a deep wound
10 our national prestige. abroad and at
home. Consequently, my firm has not
accepted, tnc Wll not aCceptt retainer
involving such a step. The pending ques-
tons will not find a solution in such course.
There never was a case In which foTbear-
anCe and concession were more lmpera-
lively public duty, as well as to the COM
mon interest,"
Il was pointed out that Mr.. Cromwell
did not deny that his firm had been APP
preached in regard 20 such a proposition.
Justice Maddox in the Supreme Court
In Brooklyn yesterday granted permits
sion to counsel for the Equitable in the
Lord injunction suit TO file afiidavits 10
controvert the statements in Samuel
lntermye s intervening petition, 20 which
objection has been taken by the Equitable
attorneys.
ALEXANDER PUTS KNOHLES OUT.