The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1905-11-21
HYDE MAKES DISCLOSURES
Former Vice President Of the Equit~
able LITE on the Witness Stand.
TELLS Of "YELLOw DOG" FUND

tchtlACb AEtAAubA rs AAt ANdHEAAAtSHp ~ Ae
Frick, 3. II. Odell. JE.. and Others
Promident 10 the Financial and PoIlt-
IcaI wOrid-His Aspirations to Become
our French Ambassador.
New York City By far the most
sensational testimony in the legislative
investigation Of insurance methods
was that given BY James Hazen Hyde,
the former Vice President of the Equi-
table Life Assurance Society. Mr..
Hyde was disposed for several months
to remain outside the State of New
York, but d threat of indictment by
Mr.. Hughes brought him within the
jurisdiction Of the Legislature. Hyde,
it was agreed by. everybody, made the
most lf-possessed witness seensup to
this time in the inquiry. He never lost
his temper, nor did he lose track of the
most involved questions by Mr.
Hughes. His answers seemed to be
frank, and at times there was play
Of wit between MIR. Hyde and the chief
counsel which brought animation to the
proceedings.
In the early day Hyde attracted the
interest Of everybody by explaining the
several accounts in the yellow dog"
fund and admitting that out Of the
famous $685., 600, $4,000 had been paid
to Cornelius N. Bliss for the last Ma.
tional campaign, Mr. Bliss being at
that time director in the Equitable
Hyde followed this by fatty contra.
rr
Schiff in relation to the Union Pacific
blind pool, He asserted positively
that Schiff and Hartman always knew
that the Equitable was direct partici.
pant, and that Mr.. Schiff must have
known, as his son did, that all the
checks were signed on behalf of the
Equitable &
The climax to Hyde's sensational
testimony came late in the afternoon
when he testified that Chairman b. B
Odell, Jr., had received SIC, 900 through
the Mercantile Trust Company as a set
Element for whatever losses he had
incurred in the purchase of Shipbuild
ing bonds. Hyde asserted that this
money was paid because the Equitable
Society feared the charter of the Mer
camille Trust Company would be taker
away by legislation in Albany.
Mr.. Hyde testified that the man who
brought to him the intimation that the
charter Of the company would be re
voked in Albany unless the Mercantile
Trust made good in part, at least, tho
losses Of the former Governor was Mr.
Odell's close personal and political
friend, 3. III. Hartman, President OF
the Union Pacific Railway Company,
director of the Equitable Life Assur
ance Society and director Of the Mer-
camille Trust Company. Hartman,
Hyde said, after recfting the sinister
consequences which might follow re-.
fusal to settle with Mr. Odell advised
that such settlement should be made
without delay.
Confronted by Harriman's threats
and acting upon the advice of counsel,
the witness asserted, the officials of
the Mercantile Trust Company settled
with Mr.. Odell for $75, 1000 to recon-
pense him in part for losses suffered on
$180,000 of Shipbuilding bonds which
he held. In fact, Hyde said, that as
an earnest of the alleged threat a bill
had been drawn in Alabny to repeal the
charter of the Mercantile Trust Com
pany.
Hyde was on the witness stand all
day, and no more composed witness
has been before the committee since
! the insurance investigation was be-.
gun His friends thought be would
be disconnected by the crowd which
filed every available spot in the Coun-
ell Chamber TO see and to hear him,
but he was not He answered clearly
and distinctly, manifested a disposition
to argue questions with Mr. Hughes,
which the latter was compelled to re-
press repeatedly, and never lost an OPP
portunity to throw hot shot into Il. III.
Hartman, Henry g. FTick, James W..
Alexander and other men who. he said,
had joined in what he termed "the con-
spiracy" to drive him out of the Equi-
table Life.
Hyde said that the sale of his con-
trolling stock interest in the society to
Thomas f. Ryan was absolute and that
he received the certified check of Ryan
in payment therefor. He denied that
there was any agreement that he
should take back the stock at some FIJI.
ture time and return to Ryan the
money.
The witness admitted frankly that
he had aspired to be appointed Amer
lean Ambassador to France. He said
it had been suggested to him at din
ner by e. H. Hartman, and that Jacob
II. Schiff, Henry g. E'rick and Sena'
tor Depew and others had used theii
friendly offices in his behalf. Hyde
also said he had gone to Washington
alone TO see what his chances Of ap
pointment were.
mr.. Frick was the active agent in
terested in my Behalf he said sarcas
tically, and Mr.. Hartman used hil
friendly Offices"