The Montgomery advertiser., 1905-11-17
New York Ex-Governor Very Indignant. ENDORSED MR. HYDE FOR AMBASSADORSHIP Did So, He Declares, at the Request of W. H.
 Mcintyre. Chauncey N. Derew Also Star Witt -sess Before the Committee which is Investigating the Graft
 of the Big Insurance
 Company.

New York. Nov. 16-~Former Gov ernor Benjamin ode1i, Jr., and United States Senator Chauncay M. Depew were witnesses before the Armstrong Legislative Insurance @Investigation Committee today. and denied parts of the testimony of James Hagen Hyde, in which their names were used.
 Mir. odel1. fin the course of his tes- timony. called Mir. Hyde,s statements base caiumny." and when he was asked whether he directly or indirect Iy had made threats to have the char ter of the Mercantile Trust Company revoked, his face flushed. and, striking the arm of the witness chair with his fist he exclaimed:
 There is no truth In that statement. so help me God"
 Mr. OdeIj was the first witness of the day. He said no political pressure was brought to bear in the settlement of his suit against the Mercantile Trust Company, and that 1t was settled the same as suits brought by others. He said he had been advised by counsel that his claim was just one, and that any court would have awarded him more than he received in the settle , ment.
 He knew of the introduction of the AnabIer bill, which. it is said. might have affected the Mercantile Trust company's charter; and while he did not suggest it's introduction. he saw no objection to It. ~
 odell and Hartman.
 Mr. Odell denied that he ever made a statement to B. H. Harriman, or any other. that retaliatory measures would be taken against the Mercantile Trust Company. The witness said he and Mr. Hartman were personal friends, but that they had no business rela- tions He wrote letter on behaif of Mr. Hydess candidacy for the post of Ambassador to France. This was at the request of William H. Mcfntyre. one of the Vice Presidents of the Equi- tabie Life assurance Society. m
 Mf. 0dell said he had never solicited political contributions. but possibly some moneys might have come to him through the National Committee, or Senator Thomas c. Platt, as the latter had always gathered together the funds in New York State, except in the last year.
 Justice Ransome of the State Su- preme Court, representing George H. Squire, was called and explained Mir Squire's condition. He said Mir. Squire was very i'll. and :t was arranged that his deposition should be taken.
 Judge Ransome told what he knew of the transaction with which MT.
 
 Senator Depew was examined with regard to his syndicate participation and his duties as counsel to the Equi- table Society Regarding the Ambas- sadorship to Paris. Senator Depew said MT. Hyde came to him and so- licited his influence to secure the ap- pointment.- Senator Depew brought the matter to the attention of the President, although he told MT. Hyde he was too young and the President said it was utterly impo ssible to make such an appointment.
 Some Ideas of Depew's.
 The Senator advocated in the inter est of the public the limiting of the risks under insurance policies. and favored a public audit of the accounts at stated periods by a chartered ac- countant. This, he thought, would obviate many suits that are frequently brought for an accounting on the part of a policyholder.
 John Gilchrist, in charge of the security department of the Equitable Life Assurance Society, told of millions of dollars in loans made at the end of year in the names of clerks of Kuhn, Loeb & Company to comply with the law that the surplus should be invested or to keep down the cash balances. No collateral was held by the Equitable on these loans and the check which was given for these loans, was deposited in
  cefved The check, however, was never cleared, and on the first of the year the check would be taken out and the certificate surendeed. These loans were made at the instance of T. D. Jordan, former Comptroller of the Equitable
 by the Equitable was taken up with Daniel M. Junk, secretary-treasurer of the Cafe Company, on the stand. He said none of the management of the Cafe received any compensation from the proceeds of the cafe. They were employees of the Equitable Life and were paid by the society
 Louis M. Bailey, a clerk in the Board and Mortgage Department of Equita- ble. in whose name a trustee account was carried on the books of the Society said he was asked by Mir. Squire to permit the use of his name for this account, but he did not know Its pur- pose Building operations carried on under his name for the Equitable, he could explain only on the ground that an individual could build cheaper than corporation.
 odeII Takes the stand.
 B. B. odell. Jr. former Governor of New York and at present chairman of the state Republican Committee was the first witness before the insurance Investigating committee today. Be- fore his testimony was begun, Samuel ITntermyer, counsel for James H. Hyde, entered an objection, protesting against the investigation of the affairs of the United States Ship Building Company by the committee.
 MT. Hughes, counsel to the commit tee began by asking Mir. odefl to tell the facts pertaining to the Mercantile Trust Company charter and the witness said he would prefer to tell of the whole transaction leading up to the settlement if permitted Mir. Untermyer protested that if the committee per mitted this. it would take them far ou- eide the legitimate line of inquiry. Senator Armstrong referred the pro- test to Mir Hughes, who said he would call to Mir. odeIf's attention the fact that the matter which concerns the committee is simply the question nrhafhar fharn was anN nnlificaI innal.