Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1905-11-17
ODELL SAYS
IT IS "BASE
CALUMNY"
Former Governor SWearS
Hyde Told falsehOOds.
DENIES ANIM0SITY AGAINST
MERCANTILE TRUST COMPANY
AagriIy Denies Soliciting Political
Contributions Some Little Side
Lights on That Hyde
AmbaSsadOrship.

New York, Nov. 18.-FOrmer Gov
ernOr Benjamin b. Odell. Jr.. and
United States Senator Chauncey NJ.
Depew as witnesses before the Arm
strong legislative investigation COM
mittee today denied the parts of the
testimony of James B. Hyde In which
their names were used.
Mr.. Odell in the course of his testi-
mony called MIR. Hyde's statements
base calumny'' and when he was ask
ed whetherhe directly or indirectly had
made threats to have the charter of
the Mercantile Trust company revok-
ed, his fRce flushed and, striking the
arm of the witness chair with his fist.
he exclaimed:
"Therc Is no truth In that state
ment: so help me God"
Mr., Odell 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-
nacnt
He knew of the introduction of the
Amber bill, which it is said might
have affected the Mercantile Trust
company's charter and while he did
not suggest its Introduction he saw no
objection to 1t. Mr.. Odell denied that
he ever made a statement to T.. H.
Hartman or any one else that retala-
tory measures would be taken against
the Mercantile Trust company. The
witness said he and Mr. Hartman
we're personal friends, but that they
had no business relations. He wrote
letter on behalf of Mr.. Hydes can
didacy for the post of ambassador to
France. This was at the request of
william Fl. Mcintyre one of the vice
presidents of the Equitable Life AS
surance society.
Mr. Odell said he had never solicit
ed political contributions. but possibly
some monies might have come to him
through the national committee or
Senator r. C. Plat, as the latter had
always gathered together the funds in
New York state except in the last
vcar.
Depcw on the Stand.
Senator Depew was examined with
regard to his syndicate participation
and his duties as counsel to the Equt-
able society. Regarding the ambassa-
dorship to Paris Senator Depew said
MIR. Hyde came to him and solicited
his influence to secure the appoint
ment. Senator Depew brought the
matter to the attention of the presi-
dent. although he told Mr. Hyde that
he was too young and the president
said II was utterly impossible to make
such an appointment.
The senator advocated in the inter-
ests of the public the limiting of risks
under insurance policies and favored
a public audit of the accounts Of COM
panies at stated periods by chartered
accountants. This he thought would
obvlate many suits chat are now fire.
quently brought for an accounting on
the part of a policy holder.
John Gilehrlst, in charge of the Sc
curity department Of the Equitable
Life Assurance society told of millions
OF dollars In loans made at the end of
the year In the names of clerks Of
Kuhn, Loeb & Co., to comply with the
law that the surplus should be invest
ed or TO keep down the cash balances
No collateral was held by the Equita-
BILE on these loans and the check which
was given for these loans was depos-
tied in the bank and certificate OF
deposit received. The check however
was never cleared and on the first OF
the year the check would be taken oui
and the certificates surrendered. These
loans were made at the instance of T
j. Jordan, former controller OF the
Equitable.