Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-11-17
A SENSATIONAL Scene.
Depew Equally as Emphatic in
Denying Allegations---Hear=
ings Waxing Warmer.

New York, Nov. lG-Former Cover
nor benjamin r. Odell, Jr., and nited
States Senator Chauncey NJ. Depew, as
witnesses before the Armstrong leSiS-
lative insurance investigation commit
tee today, denied parts OF the testl-
uony of James HaZen Hyde IN Wnicn
their names were used. MI. Odell, III
the course of his testimony, called MI.
iiyde's statements base calumny ana
when he was asked whether he direct
~ or indirectly had made threats to
have tn. charter of the Mercantile
Trust Go. revoked, his face flushed and
striking The. arm of the witness chair
with his fist, he eXclaimed:
"There is no truth in that statement,
50 help me God!'
Mr.. Odell was the first witness of
the LAY He said no political pressure
was brought to bear upon the settle
u,ent OF his suit against the Mercan-
tile Trust and that it was settled the
same as suits brought by others. He
said ne 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
Amber bill, which, it is said. might
have affected the Mercantile Trust
COS. charter and while he did not suS-
gcSt its introduction he saw no ObJec-
ton 10 II.
Mr. Odell denied that he ever made
:: statement to e. II. Hartman or any
one else that retaliatory measures
would be taken against the Mercantile
Trust co. The witness said he and Mr..
Hartman were personal friends, but
that they had no business relations. He
wrote Il letter on behalf of Mr.. Hyde's
candidacy for the post Of ambassador
to France. This was at the request OF
William Ii. Mcintyre one of the vice
PRESIDENTS Of the Equitable Life Assur-
:nCe Society.
Mr.. Odcll 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
hGi always gathered together the funds
in New York state except in the last
year.
Justice RanSome of the state supreme
court, representing George II. Squire,
was called and explained Mr. Squire >
condition. He said Mr.. Squire WIS very
III and il was arranged that his dcpo-
sition should be taken. Judge Ran
some told what he knew Of the trans
actions with which Mr.. Squire's name
had been connected.
Senator Depew was examined with
regard to his syndicate participations
and his duties as counsel to the Equita-
bic Society Regarding the ambassador
srp to Paris. Senator Depew saw Mr..
HYDE came to him and solicited his in
fiuenCe to secure the appointment.
Senator Depew brought the matter to
the attention of the President, although
he told Mr. Hyde that he was toe
young.
The senator advocated, in the inter-
estS of the public. the limiting of risk
under Insurance policies and favored
n public audit of the accounts Of the
companies at stated periods by a char
tered accountant. This he thought
would obN late many suits that are now
frequently brought for an accounting
on the part of a poliCyholder.
John Gichrist. 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
Euhi. Leob & Co, to comply with
the law that the surplus should
be invested or to keep down the cash
balances. No collateral was held by tho
Equitable on these loans and the check
which was given for these loans was
deposited in the bank and a certificate
of JaDnSit
ever, was never cleared and on the first
of the year the check would be taker
ont and theN certificate surrendered
These loans We're made at the instance
of T. ID. Jordan, former comptroller OF
the Equitable.
The ownership of the Cafe Savarir