The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-11-17
Former Vice President of
Equitable Life Makes
Number of Sensa-
tional Charges in His
Testimony.
Says a Suit Was Settled
Owing to the Fear of
Odell and Hartman
Accuses the Frick
Committee.

New York, Nov. 14.-Charges of a
startling nature were made by James
Hazen IIyde former first vice presi-
dent of the Equitable Life Assurance
society, in his testimony before the
legislative committee late this after
noon.
He declared that the suit Of former
Governor Benjamin b. Odell against
the United States Shipbuilding Com
pany was settled by the Mercantile
Trust Company because, as he re-
membered, bill to repeal the Mer-
cantiles charter had been introduced,
and the influence of the former gov
ernor over Albany affairs was greatly
feared. E. H. Hartman, an intimate
friend of Mr.. Qdell and at the time
a director in the Equitable, he said,
was one OF those who feared retalia-
tory measures in case the settlement
should not Ue made, and urged that
the payment be made by the trust
company.
Mr.. Hyde also declared, IN words
carefully chosen, that members of the
Frick committee, which severely crit
icized him in it's report to the Equit-
able, had hoped by the aid of con-
spiracy" to deprive him of his rights
and of his control of the majority
stock of the society. He also said
that his sale of stock of the Equitable
was a bona fide transaction, paid for
In cash.
81 received" he said, "for my stock
q certified check from Mr.. Thomas F.
Ryan. There was no agreement about
the return of the shares in any con-
tingency. 1t was absolutely sale
without a string to it,
Mr.. Hyde was the star witness Of
the investigation so far and he was
on the stand nearly the entire day
and it was understood that II will re-
testimony wanted by the committee.
The sensational part of his testimony
came shortly before adjournment for
the day and was led up to by this
question propounded by Charles E.
Hughes, counsel for the committee:
WAS any money paid to Governor
0dell out of the funds of the Equitable
Life Assurance Society, directly or
indirectly, in his settlement Of the
suit against the Mercantile Trust Com
pany?"
mo, sir, have learned as an officer
Of the Mercantile Trust Company that
the payment for that settlement was
made out OF the funds of the Mercan-
tile Trust Company on the advice of
counsel, Mr.. Colby"
And do you know as a matter of
fact whether any effort was made by
any one connected with the Equitable
Life Assurance Society, or any one,
10 have any payment made by the
Equitable in the settlement of any
claim of Governor Odell against the
United States Shipbuilding Com
pany?".
II know of nothing"
did Mr.. Hartman ever suggest that
the claim be settled?"
"Yes sir, he suggested to me that
there was then a great deal Of rumor
In the newspapers that an effort would
be made to repeal the charter of the
Mercantile Trust Company, and as the
Equitable Life has a large interest
In that charter and as the charter Is
very valuable that had great deal
10 do with what was considered the
Rdvisability OF making that settle
ment."
Explain what you mean by the re-
Trust Company"
II mean exactly what / say; don't
mean to be impertinent, Mr. Hughes"
II don't quite understand; can you
elaborate that. What was said to you
by Mr.. Hartman as TO anything that
could be done to repeal the charter
Df the Mercantile Trust Company"
II suppose he feared retaliatory
measures on the part of that powerful
gentleman"
why did he rear retaliatory meas
nres?"
"He assumed to think So"
"In what form was that suggestion
nader"
TN just that naked form"
"That there was danger that the
charter of the Mercantile Trust Com
pany would be repealedT
"Yes SIR"
HAD any steps been talyen in that
hirection?"
"There were rumors; ] don't know
myself that any steps were taken of
my own knowledge. He suggested Il
and counsel OF the Mercantile Trust