Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1905-11-23
POLITICIANS AND
LIFE INSURANCE.
INTIMATE CONNECTION IN NEW
YORK BETWEEN The TWO.

Hyde Says OdeH Held Threats OF
Charter Repeal Over Mercantile
Trust Company and Forced Settle
ment Of His Personal Sult--oden
Denies--Senator Platt Admits Cam
paisn Contributions from Insurance
Companies--A 5laekmailer Fat
tened at Expense ofPoiicy Holders
Following the startling charges made by
James II. Hyde before the insurance in
yestigating committee last week, +. H.
Hartman, the railroad magnate. appeared
and denied most of them that involved
him. He said that the proposition that
the Mercantile Trust company settle with
Gov. Odell because of the inclination OF
the latter TO do harm to the company
throu legislative action unless il did
was not his suggestion, but that Hyde had
come TO him and asked him TO bring il
about. He denied that he had advised
Hyde 70 sell bis Equitable stock. bat had
even offered 70 help hum. HYDE took the
stand and reiterated his former state
ments. Il appeared that Hartman had
played the part Of a false friend in the
matter OF endorsing Hyde !or the French
am bassadorship.
Gov Odell was a witness also He pro-
nouncod Hyde's charge "base calumny, %
and denied emphatically that be bad made
threats TO have the trust company's char
ter revoked unless Il settled. The case, he
said, was settled on its merits. and with
out political pressure. Ii was true, how
ever, that al a bout this time a b II was in
troduced to repeal the charter, but the
bill was later withdrawn. Odell said he
had never solicited campaign money from
the insurance companies, but that Senator
Platt had taken il.
Senator DepeW was given a chance TO
explain his Equitable syndicate opera
tions. He appeared very much broken ia
spirit. Both Odell and Depew pretended
to support Hyde for the ambassadorship
while secretly advising the president not
TO appoint him.
Tuesdays proceedings were interesting. Z
1t developed that one Manning. a former
actuary Of the Equitable, had years ago, I
while taking part IN an official investiga-
tion OF insurance companies, secured in
formation OF damaging nature, end that I
for fifteen years he had continued to black 4
mail the three big New York companies 1
A lawyer named Nichols had a retainer
from the companies for taking care cf 4
Ia all. thousands OF dollars I
were paid in this way. False names ap- I
peared on the vouchers to cover IL.
senator Plstt testified that the Equitable I
and Mutual had each contributed $4,000 I
70 lue hepubilCdu stdtt cam .
Daign fund, and the New York Life less 4
ind only occasionally. He said he sup 1
posed ii was expected that in return he \
would look out FOR legislation hostile 10 \
he companies, but that he was never
,sked TO do so, and never had done SO.
President McCurdy of the Mutual Life
lss offered to submit to a cut in his
ialary from s150,000 TO $4,000 year.
The political scandals connected with
Insurance f14affarg have pauga1 dgnr npita- ]
ion in New York. Platt is trying To
,ust Odel from the state leadership. IL
: reported that President Roosevelt ~
convinced that Odell should retire and
hat he will recognize Platt hereafter in
state patronage.