Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-11-17

stock Judge Ransome described for Mr..
Squire the George III. Squire trustee ac-
count. Former President James w. AL
eXander of the Equitable Life Assurance
count carried under that title. said Judge
Ransome MIR. Squire never knew its pur-
pose. He drew checks on that account be-
cause he was asked to do it.
United States Senator Chauncey NJ.
Depew was then called. The senator said
he had been a director of the Equitable
since 1877, and was a member of the eN-
ecutive committee. He never headr of the
various trustee accounts until this inveS-
tigatiOn. He knew of the campaign con-
tributiOnS only in a general way, by way
of conversation. He did not know the
amount contributed to the national cam.
national houses would pass laws prohib-
iting these contributions. Witness knew
nothing of contributions to any campaign
hut the national campaign.
Senator Depew said he was first asked
to go into syndicate by George H.
Squire He detailed the various syndi-
Gates ne had been in during four years
and said these had Melted him the sum OF
1929. In these transactions he had S2U0.UO)
tied up most of the time and 100000 still
tied up.
United States Senator Chauncey NJ
Dcpew went on the witness stand soon
after Mr.. Odell left it. AS to his reten-
ton as counsel by the Equitable Society
Senator Dcpew said his statement to
Supt. Hendricks covered the field. but he
made an extended statement OF MS asso-
ciltions with Henry B. HYDE and said he
continued as counsel for the society after
thu. death of Mr.. Hyde because it was
one Of Mr.. Hydc's dying injunctions to
his son. Senator Depew's salary as 4
counsel was $4,000 year from 1873 until
last spring.
Witness said he never knew of the re-
tention of counsel for legislative purposes
ana never advised it. He did not know
A. c. Fields but had heard of Andrew
Hamilton. He said he never had any in
terview with Thomas d. Jordan. former
comptroller of the Equitable Life. as I"
Legislative matters nor as to letters of in
struction from Jordan to Fields. He knew
nothing of the Amber bill to revoke the
charter of the Mercantile Trust Co.
The loan to the Depew Improvement
Co. was asked about and Senator Depew
said his letter to Paul Morton on Aug.
Il, 1907, IA copy of which he presented.
would answer any questions on that sub
jcct. This letter was read for the record.
Senator Depew said he was spoken to
by friends of President Alexander and
Vice President Hyde about the increase
in their salaries. He justified the large
salary to one of Mr.. Hyde's limited ex
perience on the ground of his ability.
which, he said, was recognized by the n
nancial men with whom he came into
contact. Recess was taken while Senator
Depew was testifyirg.
Senator Depew testified that lie was
asked by James HaZen Hyde to use his
influence WIN ITeSlueTl ftoOScNt1L 10 St
cure Mr.. Hyde the ambassadorship to
France: that he spoke to the President
about it and that the President said 1t
was utterly impossible.
Senator Depew told Mr.. Hyde that it
was impossible to secure the appoint
men:.
Senator Depew said he had always ia
vored the deferred dividend system of in
surance and had seen nothing yet to
shake his faith in it. He thought. it
would be in the interests of public policy
to limit the amount of risks. He also
advocated a public audit of insurance
companies at stated periods. on tn"
ground that many suits brought for an
accounting would be obviated. John Gill
christ in charge of the security depart
ment of the Equitable Life, followed Sen
ator Depew.
The committee adjourned until tomor-
row Next week there will be four seS
sions, beginning Tuesday: The week fol-
lowing there will be but three sessions,
an adjournment being taken over Thanks
giving.