The daily morning journal and courier., 1905-09-28
SENATOR DEPEW ID BE
 CALLED ON TO TESTIFY
PARTICIPATED IN ONE OF THE EOUITABLE'S SYNDICATE
 TRANSACTIONS.

Testimony Brings Out That He Was
 Interested to the Extent of $1OG, ,0O0--
 Financial Manager of the Society Un-
 able to Find Record of the Profits
 from a Number of These Ventures
 Equitable Put Up Money That Has
 Not Yet Been Returned.
 New York, Sept. 27.-To-day's session of the legislative committee to investi- gate insurance methods was given over to inquiring further into the syndicate transactions of the Equitable Life As surance society. Henry R. Winthrop, assistant secretary and financial man. ager of the society, was again the wit ness, and many of his statements were | accompanied by typeWritten documents giving the various transactions in de- tail. It was brought ou that in one of these syndicates Senator Chauncey M. Depew was a participant to the extent of $100,000, and the senator was re- quested to appear before the committee MT. Winthrop was unable to find where record of the profits from a number of the syndicate transactions was made, but expert accountants now at work on the books of the society are expected to unearth these later. q The witness also detailed a number of loans to the Equitable Trus tand Mer- cantile Trust companies, as well as the sharing of these companies in syndi- l.y society.
 Late in the day Henry Greaves, who was clerk for George H. Squire, for merly member of the finance commit tee, was called to supply some infor- nation regarding the George H. Squire Trustee account, and from him it was learned that there were number of these accounts. There was, beside the | George H. Squire Trustee" account, ''the Marcellusi Hartley trustee-ae- l count" and another, the "J. W. Alex ander trustee" account. Mir. Greaves produced the bank book of the Squire account, and by means of 1t Mir. Hughes tried to trace amounts that would correspond to profits to this &C., | count, but the witness could not re- member the, items deposited, MT. Greaves was still on the stand when l the session adjourned for the day.
 MT. Greaves, however, gave way tenn porarily to Mir. Winthrop, whom MT. Hughes querled further regarding sym dicates. MT. winthrop was asked to furnish a list of the individual partici- pants in the syndicates, and said that l President Morton was preparing such { a statement Mir. Winthrop said he had no positive information of the James | H. Hyde and associates syndicates, but i he expects he will have Mir. Winthrop said that in the Philadelphia, Baltimore and Washington and Long Island four syndicate managed by Kuhn, Loeb 6, 1 Co.,, there were two participants, one of $500,O00, the other of $100,000. The so- ciety derived profits of $2,3s5 on the $10O,00O, while J. W. Alexander, J. H. Hyde, G. H. Squire, and w. H. McIn- 1 tyre divided the profits on the $500, ,000. The Equitable put up $21S,100. It has received no interest, neither has the money been returned, and when asked if the matter had been called to the at tention of these gentlemen Mir Win throp said: Tt will be-"
 When the session opened to-day Sen ator Armstrong announced the serious illness of S. Fred Nixon, speaker of the assembly, and said that in the event oi his death the committee would instant. ly adjourn.
 Jacob H. schiff, of Kuhn, Loeb & Co. was subpoenaed to-day, and it is ex- pected he will appear to testify to- morrow or Friday. MT. Schiff will be asked about the transactions of his firm ! with the New York Life Insurance company, as well as with the Equitable Life Assurance society.