Rosebud County news. [volume] (Forsyth, Mont.) 1901-1906, 1905-11-23
GOV. ODELL AND DEPEW TESTIFY
Both EmphaticaIIy Deny the Charges
Made AGAINST Them by Hyde.


Both EmphaticalIy Deny the Charges
Made Against Them by Hyde.
New York, Nov. 10. Former Gov.
Benjamin B. Odell, Jr., and United
States Senator Chauncey M. Depew, as
witnesses before the Armstrong legis-
lative insurance investigation commit
tee yesterday, denied parts of the tes-
timony of James Hazen Hyde in which.
their names we're used. Mr.. Odell, in
the course of his testimony, called Mr..
Hyde's statements base calumny,
and when he was asked whether he di-
rectly 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, SO help me God"
No Political Pressure Used.
Mr. Odell was the first witness OF
the day. He said no political pressure
was brought to bear in the settlement
of his suit against the Mercantile
Trust company, and that it was set
tied the same rs suits brought by 9TH
ers. He said he had been advised. by
counsel that his claim was just one
and that any court would have award
ed him more than he received in the
settlement.
Mr.. Odell denied that he ever made
a statement to e. H. Hartman or any
one else that retaliatory measures
would be taken against the Mercantile
Trust company. He wrote letter ON
behalf of Mr.. Hyde's candidacy for the
post of ambassador to France. This
was at the request of William II. Nc
Intyre, one of the vice presidents OF
the Equitable Life Assurance society.
Mr.. Odell said he never solicited polit
ical contributions.
Senator Depew Testifies.
Senator Depew was examined with
regard to his syndicate participation
and his duties as counsel to the Equi-
table society. Regarding the ambassa-
dorship to Paris, Senator Depew said
Mr.. Hyde came to him and solicited
his influence to secure the appoint
ment. Senator Depew brought the
matter to the attention of the presi-
dent, although he told Mr.. Hyde that
he was too young, and the president
said it was utterly impossible to make
such an appointment.
The senator advocated in the inter
ests of the public, the limiting of risks
under insurance policies end favored a
| public audit of the accounts of compa-
| MES at stated periods by chartered
accountant. This he thought would
obviate many suits that are now fire.
| quently brought for an accounting on
the part of policyholder.
Tells Of Millions in Loans.
| John Gilchrist, in charge of the &c.
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
Kuhn. Loeb & Co. to comply with the
law that the surplus should be invest
ed or to keep down the cash balances.
No collateral was held by the Equita-
BILE on these loans and the check which
was given for these loans was deposit
ed in the bank and a certificate Of de-
| post 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 at the instance of T.
| D. Jordan, former controller of the
Equitable.
McCurdy's Salary Cut in Half.
At special meeting of the board of
trustees of the Mutual Life Insurance
company yesterday, at which the re-
Gently appointed investigating commit
tee submitted it's report, President Nc
Curdy caused stir by stating that at
his own request his salary had been
cut in half, from $15O,0OO to $4,000 a
year. This action was taken at a
meeting of the finance committee, and
Mr.. McCurdy said, was the first step in
reducing the expenses of the company
Salaries of the other executive Off
GERS of the company also have been
reduced, the saving amounting in al
to between $145,00O and $150,000 pei
annum.