New-York tribune., 1905-11-14
WILL SEND FOR HAMILTON
nt4usND FOR ACCOUNTING
lfeCaH again Promises 10 Make
Good Rebates Explained.

-arw
In hack from Europe the absent Judge An
14ar.f,ton II was also shown that there
t-, no attempt TO obtain an accounting
.bo vast sum handled by the absent legis-
-. agent Air. Mccall declared that he has'
,ailed Hamilton hack. but volunteered to
:. r assured the committee really wished TO
4;,, Mi Hughes was not long in making
-. mini clear Mr.. Mccall then repeated the
..,o,eoi which he has already made, that IL
.,,d.,, Hamilton did not make up the unac-
CO.. s.,35 600 Of the yellow dog fund"
80 r,rrefal,er II he would personally meet
- soeciency. The testimony showed Judge
,. "a ba AT Paris or some Continental
-, reeort and that there had been no COM
.,icn xyith him since the Developments
7;,,er his legislative activity of nearly two
,be ago Indirectly. the officers OF the
y.v-york Life had heard from the Judge
hroueh his daughter, and. as Mr. McCah les
80 ..fad not had the heart to recall SICK
man ..;r,o,,, of
1h, Nc(Tliiness, jr. a ccnhdenual clerk iol-
-,,- attached to the office or Thomas b. Joi-
81. the controller of the Equitable VINO was
~,r,oved for refusing to divulge the inside 1acts
-aardinc the s635000 yellow dog fund MI
wcGuiness produced the confidential letters
-ti-, had nassed between Jordan and the miss
srr
20 coronanies A c. Fields. These letters con-
- of little memoranda on bills introduced in
,be legislature which the Equitable asked us
,islotive agent to have killed. The character
e .bese measures was significant in itself
rbere we're among them bills of taxation, Whfch
nere the work of the legislative committees;
there were bills regulating the hours OF iapor'
opposed because they would affect the sDehoera-
nhers employed by the Equitable Bills proVlo-
ing for fireproofng and elevators IN tenement
houses were opposed for equally selflsh reasons
The ususI comments on these bills made by
Jordan were: Very bad bill Should be killed
please watch carefully. This applied to nlils
that might have been strike blackmaiins
measures and it applied to bills that were clear
" nacesssrv revenue measures. Assemblyman
John McKeown. a Democratic member OF the
committee listened in astonishment to the tran
snript of orders from Jordan that two OF MS
hills should be killed as bad measures The
ahsurdity of the whole performance was indi-
Gated by the reference to a bill that provided
that stockholders should have a right 10 exam
ire the books of their company.
'of course We are opposed to this wrote
Jordan. and the unconscious humor of this
aroused q general laugh. The list of bills to be
opposed stretched over seven years, from 1898
TO 1905. Mr.. Hughes consumed half an hour in
reading those of the first two years, and then
rested until the morning session to-day Ap-
parently the opposition to legislation was en-
tirely sIccessful.
John R Hegeman. who also testified at great
length yesterday supplied specific figures for
the rebates he had received from Nermiye &
Co and later from William \. Read & Co. for
his private account These made total OF
approximately $4,000. William a. Read testi-
fed that these rebates were recognition of the
Importance of the Metropolitans business which
his firm received. He also testified that the
loans he had received from the Metropolitan
through President Hegeman at rate lower
than the market in return for his SER
vices to the Metropolitan, and that he had Of
fered TO pay the full market rate. By figures
supplied by the Metropolitan and by President
Hegenan's testimony it clearly indicated
that thers had been no sale of securities to or
through w a Read & Co. price below the
market rate or any purchase at a price above
the market rate. In the case of one purchase
in which this had apparently occurred MI
Hesetaan indicated that there had been a mis-
take in comparison of figures in The Financial
Chronicle" The whole incident WAS adequately
explained and it was definitely shown that tbs
conclusions drawn on this point last week were
erroneous.
Mr. HEGEMAN PAID BACK.
Among the interesting points shown in MI
hegeman's testimony was the fact that as d
result of the scandal that arose out of the syn
oicate operations in the Equitable Life last
spring he had covered back to the Metropolitan
all of his profits that had arisen from any share
Of the Metropolitan in syndicates IN which ne
took part The total of his syndicate profits was
shown TO be $4,000, and the amount covered
back S16,0G0. An amusing detail that came out
MAS had be4D :
sifanE statement hnd besn sent 10 the lnsur-
nnCe Commissioner of Tennessee that officer
OF The Metropolitan had proilted by any stoCh
or bond deal In this regard Mir Hegeman eS-
pressed himself as strongly of the opinion ina.
no restitution had been necessary and that no
impropriety had been committed i'll taking the
lroh1s But he explained that after confer
eAee with advisers one of whom had differed
NTH him. lie had returned The S16,tBS To avoid
ali possible discussion on the subject
rather curious situation was shown to exist
With reference to the real estate transactions o
The Metropolitan a number OF instances were
shown where the property OF the Metropolitan
had been "swapped." Some question as to the
night OF the company swap real estate
where ii had received the permission OF the Su-
lTeme Court TO buy new properly appeared 10
exist in the minds of the inquirers. although the
point was not pressed. 1t was shown Tor eA-
ample. that The GerInan-Anericah bulldlhs' al
No. ;55 Nassau-st had been "swapped for the
Hotel EzrIington and several parcels of property
in Harlem, which we're subsequently Sold
Mr.. Hughes inquired Into the WISDOM OF the
acquisition or apartment houses or hotels by IN
sarance companies, but the officers Of the COM
p1ny maintained that The exchange NAG peetl
Profitable. Another swap was that OF inc
Westminster Hotel for the Parker Building IA
zth-ave.. which was III turn --swappcd Tor the
Seymour Hotel on which the Mutual Lille was