The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-11-17
0DELL AND OEPEW ALSO
DENY HYDE'S STATEMENT
Former Governor Calls Upon the Almighty as His
Witness
Senator Gives His Version of Various Shady Transactions
Heretofore Brought Out in the TestimOny-MnOr
Equitable Employees Examined,
Anew YORK. Nov 1s.-Former C

Anew YORK. Nov. 16.-Former Gov
ernor Benjamin b. OdeI, jr.. and
United States Senator c, VI. De
pew. as witnesses before the Armstrong
legislative Insurance investigating com
mittee today, denied parts of the tes-
timony of James II. Hyde in which
their names We're used. Mr.. OdeA IN
the course of his testimony called MI
Hyde'S statements base caiumnY' and
when he was asked whether he direct
j. or indirectly had made threats TO
have the charter of the Mercantile
Trust company revoked, his face
flushed and striking the arm of the
witness chair with his fist. he eX-
claimed:
There is no truth in that statement
80 help me God
Mr.. Odcn was the first witness Of the
day. He said no political pressure was
brought To bear ia the settlement of his
Jsuit against the Mercantile Trust COM
pany and that il was settled he same
as suits brought by others. He said he
had been advised by counsel that his
claim was a just one and that any
court would have awarded him more
than he received in the settlement
Knew of the Amber Bill.
He knew Of the introduction of the
Amber BILL which il is said might
have affected the Mercantile Trust COM
panys charter. and while he did not
suggest its introduction he saw no OBJ
lection 10 it,
Mr.. Odell denied that he ever made
q statement to e. H. Hartman or any
one else that retaliatory measures
would be taken against the Mercantile
company. The witness said he and Mr..
Hartman We're personal friends, but
that they had no business relations,
He wrote "a letter on behalf of Mr.
Hyde's candidacy for the post of am
bassador 10 Franc. This was at the
request of William Ii. Mcintyre one of
the Vice presidents of the Equitable
Life Assurance society
Mr.. Odell said he had never solicited
political contributions, but possibly
some moneys might have come 10 him
through the national committee, on
Senator Thomas {. Plat as the latter
had always gathered together the funds
iH New York state except Ia the last
year.
Oepew's Testimony.
Senator DepeW was examined with
regard Ia his syndicate participation
and his duties as counsel To the Equit-
able society. Regarding the ambassa-
dorship 10 Paris Senator Depew said
Mr.. Hyde came 10 him and solicited his
influence To secure the appointment.
Senator Depew brought the matter 20
the attention of the president although
he told AR Hyde that he was too
young and the president said IL was
utterly impossible 10 make such an APP
pointment.
The senator advocated i'm the inter-
csJS of the public the limiting of in
surance risks and favored "a public au-
dit of the accounts of comDanieS at
stated ueriods BY a chartered account
amt. This he thought would obviate
many suits that ara now frequently
brought Tor an accounting on the part
or a policy holder.
How. They Worked 1t.
John Gnchrist. I'm charge of the sel
curIty department of the Equitable Life
Assurance society. told of millions of
dollars in loans made at the end of the
ear IN the names of clerks of Kuhn
Loeb x Co. 10 comply with the law
Tuut the surplus should be invested on
10 keep down the cash balances. No
collateral was held by the Equitable
ON these loans and the check which was
held by the Equitable on these loans
and the check which was given for
these loans We're deposited i'm the bank
and a certificate of deposit received.
The check however was never cleared
and on the first of the year the check
would be taken out and the certificate
surrendered. These loans were made an
The instance of II. u. Jordan former
comptroller of the Equitable