New Ulm review., 1905-11-22

HOSTILE SUITS BOUGHT OFF AND
EQUITABLE STOCK PUR-
CHASED WITH 1885 900.
Political Contributions Also Made
from Big Fund-Former Vice Pres
ident Before Legislative Investi-
eating Committee.

from Big Fund-Former Vice Pres
ident Before Legislative Investi-
eating Committee.
New York, Nov 15.-James H. Hyde,
formerly vice president of the Equita-
BILE Life Assurance society, testifying
before the insurance investigating
committee Tuesday, said that the OBJ
jects of the mysterious $6S5,000 loan
by the Mercantile Trust company to
the Equitable Life Assurance society
buy up the stock of the Equitable as it
came into the market, and to make
political contributions. Mr.. Hyde said
the only political contribution of which
he knew was that of $25,000 to Cor
nelius N. Bliss, treasurer of the repub-
lican national committee, in the last
presidential campaign. This contri-
button was solicited by H. c. Frick,
said Mr.. Hyde. Last summer when
the banking department called for the
repayment of the $685,000 and the
Equitable Life repudiated it, Mr.. Hyde
said Mr. Alexander and Mr.. Jordan
raised as much as they could and then
he, Hyde, made up the balance, $212,-
600. He said he thought he was gen.
erous in this, as he had not received
any benefit from the loan.
The syndicate operations of J. H.
Hyde and associates was gone into
very thoroughly, and it was shown
oun6iootoc Huda GIG.
tanned personal losses of S2S,615. Mr..
Hyde ascribed the apportionment of
the Equitables allotment of bonds in
syndicates to officers Of the Equitable
Life to the customs and usages of Wall
street.
Feared Albany Influences.
Eclipsing all his sensational testi-
mony, however, were the statements
of Mr.. Hyde concerning former Gov.
| Odell and Mr.. Hartman relative to the
settlement of the shipbuilding COM
pany suit against the Mercantile Trust
company Mr.. Hyde said that Mr..
| Hartman came to him and advised
the settlement of Odelps suit, as he
feared that powerful influence at AL
| bany would be invoked in retaliatory
measures. Mr.. Hartman suggested as
| one of these measures the revocation
of the charter of the Mercantile Trust
company Mr.. Hyde knew of no actual
steps that were taken, nor of any bill
that was introduced, but he was beset
| with rumors that such steps were
about to be taken by legisla-
ton. The Equitable Life, he
said, was not interested beyond the
connection it had with the Mercantile
| Trust company. Mr.. Hyde was under
the impression that the Mercantile
in settlement retained the bonds and
! paid Mr.. Odell about $4,000. The ori-
ginal claim of Odell was about $780,
600. The bonds subsequently netted
about SO cents on the dollar. Mr.. Hyde
said Mr.. Hartman suggested the set
tlement of the suit and that the com
mittee of the Mercantile Trust advised
| it, and he recommended it.
| Hartman Denies Hyde Charges.
New York, Nov. 16-E. H. Hartman,
chairman of the board of directors Of
the Union Pacific railroad, former mem
ber of the board of directors of the Equit-
| able Life Assurance society and connect
| ed with many railroad and financial
| institutions, the former friend Of James
HaZen Hyde, against whom the latter
| charged acts of an unfriendly nature in
his testimony Tuesday, was one of the
chief witnesses before the Armstrong
|
Wednesday. Mr.. Hartman was called
Immediately after recess, and his testi-
mony was a series of denials of the
charges made by Mr.. Hyde.
Emphatic Denial by odell.
New York, Nov. 17.-Former Gov.
| Benjamin B. Odell. Jr., and United
| States Senator Chauncey NJ. Depew as
| witnesses before the Armstrone Iegis-
Iative insurance investigation commit
tee Thursday, denied parts of the testi-
mony of James Hazen Hyde in which
their names were used Mr.. Odell in
the course of his testimony called Mr..
Hyde's statements base calumny,''
and when he was asked whether he
directly or Indirectly had made threats
to nave the charter of the Mercantile
Trust company revoked, his face
flushed and striking the arm of the
witness chair with his fist, he ex-
claimed: There is no truth in that
statement, SO help me God!" Mr..
Odell said he had never solicited DO
litical contributions but possibly
some moneys might have come to him
through the national committee, or
Senator Thomas G. Platt, as the latter
had always gathered together the
funds in New York state except in the
last year. -.
Depew Takes Stand.
Senator Chauncey NJ Depew was
called later. He never heard of the
various trustee accounts until this in
vestigation. He knew of the campaign
contributions only in a general way
He did not know the amount contrib
uted to the national campaign in 1904
He hoped both state and national
legislatures would pass laws prohibiting