The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-15
Il. 81. BARNABY e co !.
400 to 4O4 NicOiiet Ave.

ture by one faction in the Equitable to
get control of the society,""
Odell's Political Power.
1t has been openly charged that you
get your political influence thru your
relations with Mr.. Odellg'' said Mr..
= should say that Mr.. odell gets his
with me.
All last spring during the Equitable
controversy, Governor Odell was not
here; he was not consulted and had no
hand in it whatever. During that time
[ had legislation watched at Albany to
getting in CONTROL
Mr.. Hughes asked what he meant by
Odell' Is getting political interest thru
Every man Of prominence has GER
tain political influence.
Mr. Hughes read Mr.. Hartman IS pre-
vious testimony in which he said he did
not try to buy the Hyde stock, and Har.
riman said he did not then have in mind
his attempt to get the Ryan holdings
put meant that he made no attempt to
puy the stock direct from Mr.. Hyde.
| Mr.. Hartman asked Mr.. Hughes if he
did not think that answer was proner
and Mr.. Hughes said he thought it was
| that Mr.. Hartman had in mind only
That he made no offer to Hyde.
As to Hyde's Stock.
wh mt. I Hughes h4a asked M; Hartman
absolute transfer of the Hyde stock
| to Ryan, whether there was any under.
standing that there was an arrange
| ment that the stock was to be carried
for Hyde in whole or in part:
No, replied the witness, Hbut that
was suspected by everybody"
MT. Hartman said he did not insist
that the two additional trustees sug.
gested by him should be appointed BY
| him.. What he wanted, he said, was the
appointment Of two absolutely indie.
| pendent trustees to act as check ON
Ryan and the Ryan trustees
| MI. Hughes asked what Mr.. Harri-
man did at Albany to prevent the ml-
tuailzation of the Equitable Mr.. Har-
T1man objected to telling, but Mr..
| Hughes insisted, and Mr.. Hartman said
that In the Equitable trouble Mr.. Hyde
did later. A subcommittee of the Eauit
able had recommended naturalization.
| 1t was put into the hands of LAWYERS
to take care of this at Albany
Platt and Alexander.
The Alexander faction went to Al
bany to oppose the plan,' - said the wit.
| ness, and Mr.. Platt went there to rep
resent committee of policyholders. 1
was neutral, not with either faction. I
was IN communication with men who
were to inform me if there was any
| possibility of the Alexander faction
| succeeding. do not want to tell you
what they reported. There was no bill
introduced. I took. steps with some
| members of the legislature to let me
| know if a bill was introduced. -
Mr.. Hughes brought out the state
ment that Mr.. Hartman did not pre-
vent bill being introduced and he was
not Informed that bill was going to
be introduced.
Mr.. Hughes asked with whom Har-
riman had these interviews.
| Then followed the consultations,
after which Hartman named Governor
Higgins and Speaker Nixon
Mr. Hartman, in leaving the witness
stand, said his reason for wanting to
keep Governor Higgins and Speaker
! Nixon g name out of the newspaper
headlines is that most people read only
| the headlines. Mr.. Hartman was then
excused.
An examination of the affairs of the
Provident Savings Life Assurance So
clety was then taken up, and Edward
| M. Orr, the actuary of the society, went
on the stand. He was examined as to
actuarial matters.
New York Life Annex.
! The committee devoted itself yester-
! day to the affairs of the Metropolitan
Life and the Provident Life companies.
The latter is regarded as a small an
mex Of the New York Life, tho John
G. Mccall declared, when he was on
the stand, that his company had moth
ing to do with the Provident. These
facts were developed:
That when President Scott pur-
chased the stock control of the Provi-
dent Life in 1897 for $205,000, he put
up only $4,000 of his OWN money. He
borrowed $3.50 900 on the shares from
the Security & Trust company on the
recommendation of John A. Mccall.
Then the. Provident Life made loan
of $25, 900 to Boswell and Buckley, one
of its agency firms. OF this loan, $780,
( 900 was used against the purchase made
by President Scott. This left him only
S.. 900 to raise out OF his own funds
Neither the $160,000 loan nor the 800
| 900 has been repaid.
That when President Scott left the
Equitable Life, of which he was third
vice president. in 1896, the company