The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-11-21

much as Mr.. Hamilton was q feature
of every legislative session during the
time that Mr. Odeli was governor.
Odell averred that his relations with
70. II. Hartman have been and are now,
purely of social nature and he stat
cd further that Mr.. Hyde's declara-
tion that Hartman had acted for
him tOdell) In negotiating the ship
building settlement was false.
Senator Chauncey NJ. Depew, who
followed Odell on the stand defended
his course In accepting a retainer of
$4,000 year from the Equitable, say
ing that he earned 1t by actual legal
work. He denied any knowledge OF
the bill aimed against the Mercantile
Trust Company and emphatically in
sisted that he had no personal knowl-
edge OF the much discussed "yellow
dog" fund of the Equitable.
In a voice that could be heard in
every corner Of the room the Junior
senator from New York state fairly
shouted that IL he had his way he
would make 1t felony for corpora
tions to contribute to the campaign
funds OF political parties.
He went at great length into the OPP
erations by official and subsidiary
companies of the Equitable and into
the participation of the society In var
ious stock syndicates but his evidence
was merely repetition of what has
already been brought out from other
witnesses by the committee.
MY connection with the Equitable
society after the death of Henry B.
HYDE" said Senator Depew, was due
to the dying instructions of Mr.. Hyde
to his son James Hazen. During the
two months OF Mr.. Hyde's illness he
did all that his failing strength would
permit him to Undue his son with
some Of the spirit which had guided
him in building up this great institu-
tlon.
AFTER Mr.. Hyde passed away his son
came to me and said, My father on his
death bed requested me to do all In
my power to keep you as my counsel
lor in the affairs of the Equitable.
I remained with the society from
that time until retired last summer
In capacity as counsel. How l earned
the $4,000 retainer paid me will be
found In the records of the Hendrick 8
| investigation committee"
Here senator Depew briefly sketch
ed the history of his connection with
the society; how he had begun by
counselling Mr.. Hyde on the question
of investments by the society when
great financial institutions in this
country we're restricted in their in.
vestments to railroad securities; how
he safely piloted the financial affairs
of the Equitable through the trying
times of bad securities which caused
the bankruptcy of two thirds Of the
railroads In the country; how his
Judgment, both legal and administra.
tive, had resulted in the prevention
of billions of losses to the Equitable
but instead millions of gain, With re-
gard to his profits in syndicate opera.
tions the witness said that during the
four years in which he participated in
the various syndicates, which have
been mentioned In connection. with the
investigation his net profits were less
than $4,000. notwithstanding the fact
that he had risked hundreds of thous-
ands of dollars.
Mr., Hughes adopted strong effort
to bring out the allegation that men,
bers of these syndicates always al
lowed the Equitable to get in on deals
which entailed a loss and excluded
the society from operations which
would be morally certain to show nei
profits, thus using the big organiza-
ton Of capital to stand risks only.
Mr.. Depew's testimony, however, did
not substantiate this theory.
Questioned with regard to opera
tions of Anurew Hamilton and An
drew G. Fields In their capacities as
supervisors of legislation at Albany OF
In the various states, Senator Depew
declared he had no information on
the subject,
furthermore e-the senator met this
line of questioning. evidently intended
to get him to admit that he supervised
the employment of lawyers for 1egisla-
ton fixing" with an emphatic neg
ative.
Senator Depew then declared that
Mr.. Hyde came to him and asked him
to try to have him appointed ambas-
sador to France. He said he tried
to discourage him because of his youth
and inexperience, but that as Hyde in.
sisted he went to the president with
the request.
"After the president considered the
matter and looked up Mr.. Hyde" said
Senator Depew, ''he declared the ap-
pointment was impossible. had
thought so myself, but then Mr.. Hyde's
political and literary attainments In
France might have augured in his IA
vor."
| John Gilchrlst, who is at the head
of the Equitable Securities department
was then called and was questioned
closely as to the making of fictitious