Fort Mill times. [volume] (Fort Mill, S.C.) 1892-current, 1905-11-22

New York, Special.-James Hazen
hyde, former vice president of the
Equitable Life Assurance Society.
whose resignation followed the sensn-
tlonal disclosures in thath companv
last spring which led to the inyesti.
Sa'ioh Oh insurance company methods
oy tne Armstrong committee of the
Legislature, the man whose presence
as witness before this committee has
peen looked forward to in the expec-
tation that 1t would produce the
greatest sensation OF the investioa-
ton, appeared before the committee
Tuesday.
Mr.. Hyde's manner on the stand
was one OF composure and delibera-
ton and his replies to questions from
counsel were calm and deliberate and
at times studied. He was fortified
with statements and data and was
very frank in his explanations. Fire.
quently he would become bitter in
his reference to some OF his assoc
clates, and while his entire testimony
was of deep interest and cleared nm
many points that have heretofore re-
manned in the dark, it was not until
late in the day that the sensational
features of his testimony were de.
veloped
Mr.. Hyde cleared up the matter of
the $6S5,000 loan of the Mercantile
Trust Company, which appeared on
the books of the Equitable Life under
the caption of the "W. j Alexander
Number , Account"
Mr.. Hyde first heard of this ac.
count in the fall of 1902, when il
was called to his attention by Presi-
dent Alexander, who said that he and
Mr.. Jordan had incurred the loan TO
take up stock that was being bid up to
fictitious values, to the deteriment Of
the company, to settle suits that were
hampering the business of the Sc
city, and Tor campaign contributions.
This contribution was the one of the
last campaign and was asked for by
Mr. Frick, who suggested it for the
benefit or the society To procure
this money, Mr.. Alexander had Mr..
Hyde write a letter to the president
of the Mercantile Trust Company and
this letter practically placed him in
the position of a guarantor
Later when the settlemen of the
loan was forced, Mr.. Alexander and
Mr.. Jordan raised all they could to-
ward it. The stock purchased with
part of the loan was sold to Thomas
F. Ryan for S2l2,000 and the balance,
$2l2.500, Mr.. Hyde paid personally.
He did this because he understood
that Mr.. Alexander was financially
embarrassed, and III a bitter tone
said:
Notwithstanding the strained re-
lations with these two gentlemen
alexander and .Jordan), | felt bound
to see that the debt was liqudated by
reason of the letter Mr.. Alexander ex-
tracted from me"
Mr.. Hyde said that he first receiv-
ed a salary of $4,000. seven years
ago. In 1902, when he became chair
man of the finance committee. this
was advanced to $4,000, and in 1903
it was advanced to 100000. at which
II remained until he resigned as vice
president of the society.
Eclipsing all this sensational tcsti-
mony, however, were the statements
OF Mr.. Hyde concerning former Gov
ernor Odell and Mr.. Hartman rela-
tive to the settlement OF the Ship
building Company. Mr.. Hyde said
that Mr.. Hartman cane to him and
advised the settlement OF the Odell s
suit, and he feared that powerful in.
fuencc at Albany would be invoked
in retaliatory measures.
Charges of conspiracy to get him
out of the country were made by Mr..
Hyde against Henry G.. Frick and f..
III. Hartman, i'll connection with the
reported aspirations OF Mr.. Hyde to
become ambassador 10 France. He
said Mr.. Frick inspired the idea and
witness too ii as Joke at first, but
when Mr. t'rick brought ii up later
Mr. Hyde was nattcred and both Mr..
Frick and Mr.. Hartman promisel
to use their influence to secure the
appointment.
Again Mr.. Hyde waXed bitter III lis
explanation of the extraordinary IN
tcrest these gentlemen had in his alb
sence from the country. He SAID he
thought their idea was THAT they
would acuuit themselves of their
friendly stewardship with great pro-
fit to themselves and added that
the nature of their interest hid since
become very obvious.