The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-07-06
THE Prick REPORT
Continued from page six)

~ or indirectly, interested I'm such
operations. 1 am unable to lay this
information before the committee with
out access to Mr.. Hyde's records, al
though upon the completion of the re-
ports by the heads of departments 1
may be able to supply some informa-
ton under this head.
In connection with this subject.
have already written the committee
setting forth certain letters passing be-
tween Mr.. Hyde and myself, in which
the subjects above alluded to were
mentioned. The payment of the cost
of the dinner given by Mr.. Hyde to
Cambon was one of the subjects men,
toned in said correspondence and
should receive your attention. 1t in
volved an expenditure of $12,S00 which
was paid by the society upon Mr..
Hyde's direction, without my knowl-
edge and without the knowledge of the
executive committee. Mr.. Hyde in the
letter which accompanies his restora-
ton of this amount to the society,
stated that the dinner had been given
for the purpose of advertising the So
ciety. No other officer or person
connected with the society was aware
that it was being advertised by this
dinner and l accepted an invitation to
attend the same as Mr.. Hydes guest,
in entire ignorance of the fact that 1
was participating i'm the advertisement
of the company of which 1 was presi-
dent. Mr.. Hyde's real purpose in Civ
ing this entertainment, and in making
this very liberal use of the funds of
the society, was kept secret from me
until two years and half had elapsed
since the date Of the dinner.
The name of the Equitable Life AS
surance Society was not mentioned at
the dinner, nor was anything said or
done in connection Herewith from
which any clue could have been derived
as to the advertising purpose of the
dinner. l may add that it would have
been most improper and injurious
method of advertising the Equitable if
its name had ever been connected with
it.
1 desire to call the committees at
tention also to the fact, only recently
discovered by me, that Mr.. Hyde has
procured the payment to him by the
Mercantile Trust Company of an an
nual salary of $12 800 He is the nom
inal vice-president of the company,
gives but slight attention to it, and
was elected such by reason of his Of
fetal position i'm the Equitable and by
reason further of the Equtable's large
interests as stakeholder i'm the COM
pany. Mr.. Hyde is also vice-presdent
of the Equitable Trust Company and
I only recently discovered that he has
been for some time in receipt of an
annual salary of $4,000 from this COM
pany. He is also vice-president of the
Commercial Trust Company of Phila-
delphia, from which he receives an an
nual salary of $500. l think the COM
mittee should ascertain whether there
are other companies from which Mr.
Hyde is in receipt of salaries. The
salaries paid to him by the Equitable
Trust Company and the Mercantile
Trust Company are full pay for an ac-
tive and experienced vice-presdent,
giving his whole time to his duties
Mr.. Hyde has no right to accept posi-
tion which necessitates the withdrawal
his duties as the vice-president of the
Equitable Life Assurance Society. He
procured his election to the vice
presidency of the Equitable Trust Com
pany without consultation with me, or
the executive committee or the board
of the Equitable Life Assurance So
ciey and chiefly by reason of the
Equitable Life Assurance Society's
large holdings of the stock of said
companies.
Under the committees requisition of
April 8, there will be supplied to 1t
record showing the salaries paid by the
Equitable Life Assurance Society to
the various employees identified with
Mr.. Hyde. 1 am informed that there
are carried Upon the society's payroll
a number of persons who render no
service to the society, but whose time
is completely taken up in the perform
ance or personal services to Mr.. Hyde.
1 shall furnish additional details as
soon as possible on this subject.
l find that Mr.. Hyde has drawn for
sundry expenses from the society since
January l, 1900, a sum approximately
charged to travelling expenses, sundry
expenses, and entertainment expenses.
But very little could be justified on
the score of travelling expenses, as Mr.
Hyde's duties are in no wise connected
with the agency side of the societys
business and l respectfully refer the
subject to the committees examination
as the Withdrawals under these head
ings are obviously excessive.
also have discovered from recent
examinations that Mr.. Hyde has ar
bitrarily raised the salary of certain
of the societys employees without con-
sultation with me, or with any COM
mittee, and without any semblance of
to do so. / instance the re-
cent increase of Mr.. McIntyre's salary
from $4,000 to 100000 upon Mr.. Hydes
direction; the salary of Mr..
Charles f. Williamson, his personal