Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1905-11-16
0DELL ADMITS
SUPPORT Of RE-.
PEAL MEASURE
Denies Bringing Any Pres.
sure on Mercantile Trust
Company.
Former Governor Sold Out Stock in Ship
TFust...Bslievsd Mercantile Company
WU Behind lnsoIvent Cor.
po'Ations.


Odell, Jr., former governor of New
York, and at present chairman OF the
State Republican Committee, was the
first witness before the insurance In
vestigating committee to-day. Odell
was asked whether there was airy
political influence or pressure brongh,
to bear upon the Mercantile rrns:
Company. directly or indirectly, to IN
duce settlement.
There was not" said Odell.
"Will you state. governor" said
Hughes. whether you had any infor-
nation with regard to the introduction
of a bill in the Senate for the purpose
Of repeating the charter of the Mer.
camille Trust Company"
Il knew of 1t at the time; yes"
"Who advised you of ir?"
II knew Of It before its int:oduc.
tion.'
From whom did you get the In
formation"
'Oh, various people. as to the pro-
priety of the introduction of such a
measure"
Did you suggest its introduction? -
no"
did you request it's introduction ?"
Il saw no objection to H."
What was the ground for that &C.
tihiAor Approval IN y
Simply because the scandal Incl.
dent to the shipbuilding trust was
uppermost in the peoples mind, and Il
was claimed the Mercantile Trust
Company was behind fifteen or six
teen corporations every one Of them
had been insolvent, and 1t was time,
l thought. such matter in the State
OF New York should be stopped"
Odell said the bill was intended for
the investigation Of the Mercantile
Trust Company. At the time he had
no suit pending against the Mercantile
Trust Company. When the bill was
introduced. witness said, he had every
dollar Of his holdings In the shipbuild-
ing company. Later these holdings
were sold at auction, as he felt gov
ernor should not have direct or indi.
rect interest in the matter before the
legislature. The holdings cost $164,-
III, and brought $43.6S7.
Odell denied that he ever threaten
ed retaliatory measures against the
Mercantile Trust Company or any one
else n his claim was not settled. Wit
ness was asked II later he changed
his mind about the propriety Of the
introduction of the measure in the leg
islature. He replied: "Yes, sir The
fact that the base calumy which Mr..
HYDE uttered here had been circulat-
ed in the papers. and ! called Senator
Chamber in and said that as desirable
as I believed the legislation to be
found my unfortunate connection
with the shipbuilding matter was OF
such character that It would be bet
ter for him to drop this legislation.
(Cdell said he wrote letter at the
request Of Mr.. Mcintyre. former fourth
vice.president of the Equitable, In be-
half OF Hyde's candidacy for the
French Enthusiastically. This had no.
thing TO do with the shipbuilding set
Element The letter was written be-
for the settlement.
In regard to the political contribu-
tjons the witness said he knew no.
thing about them. He also said ne
knew nothing about the efforts OF In
surance companies to prevent inimical
LEGISLATION. He said no morey had
ever been placed in his hands either
directly or indirectly for political
puruoses or otherwise to influence
legislation. His was not the only snip
building suit settled, said Odell. The
un,ermyer claim was Settled. and SO
wera others. He felt that his claim
was just.
"Of course" said Hughes. "You un
5erstand the committee is not here 70
,rv the merits of claim. we are
simply interested because definite
threats were made that
"There is no truth in that state
ment so help me Cod Here Odeii
was asked to tell precisely the facts
aAout the introduction Of the Amber
hin against the Mercantile Trust
Company.
Chauncey NJ. Depew. who followed
Odell on the stand In the insurance