The Minneapolis journal., 1905-11-23
NEW NAMES IN
INSURANCE CASE
Morgan and schwab May Be
Called to Testify as to
Odell's Deals. -
Three -Cornered Dispute Between
Odell, Hyde and Hartman
to Be Aired. ~-e

New York, Nov. 23.-The three-cor-
nered dispute between former Governor
Odell, James H. Hyde and Edward H.
Hartman regarding the exact facts of
the settlement of Mr.. Odell's shipbuild-
ing suit by the payment of $4,000 to
him by the Mercantile Trust company,
may be taken up again by the Arm
strong investigating committee.
Since these men testified, new facts
concerning Odell's efforts to have his
suit settled have come to light that may
necessitate the calling as witnesses of
J. Pierpont Morgan, George r. Sheldon
and Charles NJ Schwab.
Odell had his first interview with
James H. Hyde and Rainbridge Colby,
pany, about the settlement of the suit
in the autumn of 1904. The Amber
bill, which provided for the repeal of
the charter of the Mercantile Trust, was
introduced in the legislature in March,
1904. Odell 8 suit was begun in August,
Tried to Recover Losses.
Long before the introduction of the
Amber bill, Governor Odell tried to re-
cover his losses on his investment in
shipbuildding securities. 1t is stated
who headed the syndicate which took
over the shipbuilding bonds held by the
Trust Company of the Republic. This
was done to prevent the Trust company
from going into bankruptcy. It is said
that Governor Odell thought the Shell
don syndicate should reimburse him for
his losses, and that he told Mr.. Sheldon
80.
Meeting with no encouragement, the
to the offices Of J. P Morgan & Co.,
to get the head of that firm to bring
pressure to bear upon the Sheldon syn
dicate.
1t has always been thought in the
financial district that on this visit
Odell saw J. P. Morgan himself and pre-
sented the facts to him. When he was
on the stand before the Armstrong com,
mlttee,. however, Ex-Governor Odell
testified that he never saw Mr.. Morgan
about his shipbuilding losses.
Went to See schwab.
No result satisfactory to Odell came
from these visits and the next matter
was to present the matter to Charles
M. Schwab and the latter s counsel,
Max Pam. These visits to Sheldon,
in the latter part Of 1908 and the be-
ginning of 1904. No settlement was
made as result Of Governor Odell IS
visit to Mr.. Schwab. .ss ...-.. H..
Latter on, in March, the Amber bill
was introduced, but it was not until
. August that Governor Odel decided to
bring formal suit against the Mercan-
tile Trust company.
The Armstrong committee is unde.
cided whether it would be proper fol-
them to 60 further in. the matter of
Investigating the shipbuilding suit set
tlement. It has been pointed out to
them that the Mercantile Trust com
pany is one Of the assets of the Equi
table and that the $75, 900 paid to Odel]
was in fact payment out Of the funds
of the policyholders. Should the com
mittee decide to 90 further into the
matter, Mr.. Morgan, Mr.. Sheldon, Mr.
Schwab and Bainbridge Colby probably
will be subpenaed.
Within few days the Armstrong
committee will call President John R
Mccall of the New York Life to tht
stand to find out what he has done il
the matter of bringing Andrew Hamil
ton back to this country. When he wa
last on the stand, President Mccall
gave the committee his solemn promise
to do everything in his power to recall
Mr.. Hamilton.