New-York tribune., 1905-11-15
THE "YELLOW DOG" FUND.
HYde's Remarks .4bOat Hartman
,Schif and the Union Pacific

Apart from the more striking points OF Mr.
| Hydes testimony already told, there were many
| other things of hardly less Importance which
| were brought links in the chain of
| Equitable affairs The liquidation of the famous
| s6s5.000 - w A. No 8 account its yellow
| dog" fund was among these. Mr.. Hyde ad-
nitted that after this had been repudiated by
the reorganized Equitable he, together with
James W. Alexander ard Thomas B. Jordan.
| had paid this Mr.. Hyde's personal share
was s212, 900 On the subject of campaign funds.
he supplied the fact that of the s50,o0o con-
| iributed by the Equitable to the Republican Ma
| tional Committee last year $4,000 paid
while he away and the other $4,000 after
| it had been advised by H c. Frick.
On several other subjects Mr. Hyde said sew
| erel things about z. H. Hartman. One of these
related to the s2,700O0o loan to Mr.. Hartman
| by the Equitable. Mr.. Hyde said thai after this
| loan had run for several years he had asked to
| have the rate raised. The result of this sugges
| ton he thus described:
'Mr. Hartman got very mad and paid it off,
In the matter of the famous Union Pacific
blind pool about which Mr.. Hyde and Jacob II.
| Scilif have given contradictory testimony. Mr..
| Hyde stuck to his testimony before Superin-
| tendent Hendricks. Mr.. Schiff has maintained
| that he understood this a matter in which
Mr. Hyde personally concerned, and not the
Equitable Mr.. Hyde yesterday testified fol-
lows on this point:
| Mr.. schin has testified that he always considered
says 50. probably, it is so. But T MI schif had
which always paid for thst; and 6ad sssertaned 3 -
sion but in the possession Of the society, and if
he had also ascertained that his son and member
| that it be carried investment and not as, a
ons have In eoe & as a ndv
had nothing to do with it.
| A moment later when reference was made to
the records Of the finance committee, it was
| shown that the transaction had been considered
at meeting of the Equitable finance commit
tee, Mr.. Hyde made sneering reference to Mr.
Schiff.
Mr. Hughess question and Mr. Hyde's answer
were follows:
ssh has TESTIFIED that he did not hear r that read
! times hard of hearing
MR. HARRIMAN's SECRECY.
| On the subject OF the "blind pool" Mr. Hyde
| testified further to Mr.. Harrimans insistence
! on secrecy and his demand that only Alexander
and Mr.. Hyde should know about ii. Mr.. Hyde
! admitted knowledge that this syndicate would
| enable MI. Hartman to obtain control of tbs
| railroad. Emphasizing this desire for secrecy.
| Mr.. HYDE declared that Hartman had persisted
| in secrecy and refused statement when rs
| he phrased it
| 'rMr. Hendricks clamored to me to camor 10
| Mr. Hartman about it,
| Mr.. Hyde described his syndicate operations,
| presenting table of those in which he had been
| interested. This table showed net loss OF
| &2S,Oo0, which, added to the $212, 900 refund
the j. w. A. No. account" showed net loss
| TO Hyde of $3.50, 900. To balance this was Mr..
Hyde's salary list from various Equitable sub
Equfta BILE itself. The subtraction of these losses
showed a net return annually for his seven Yeas
| OF S3S,19i az from the Equitable
| In his morning testimony Mr. Hyde denied
| specifically any knowledge of any of the various
| yellow dog funds. the 'J- w. A, No. g.
about it cost him s212,ooo subsequently, Out of
| this fund, he testified the campaign contribu-
| lions came. His testimony regarding the va
| rious syndicates in which the Equitable was
| represented by the James III. Hyde and Asso-
ciates Syndicate less definite. Apparently
| sometimes the Equitable got the whole ailot-
1 ment and at others little or none. varying
| the judgment of the associates" market
| conditions varied Sometimes Mr.. Hyde himself
| got share
| A legislative and press campaign in France,
| which suggested the work of A. C. Fields at
Albany. whom Mr. Hughes characterized as
'the legislative generalissimo was also shown.
This cost $4,000. Mr. Hyde testified at the out
set TO his apprenticeship with the company and
| his intention of making insurance life work
| The rapid rise in his salary was also discussed
He declared that when his salary raised TO
| $4,000 no had talked to him about it.
You willing to continue at $40, ,O0O?"
| inquired Mr.. Hughes.
"Oh, yes the smiling answer. 'I don't
| think could have gotten as much elsewhere"
| This provoked a general laugh in which Mr.
| Hyde Joined Mr. Hyde testified that Mr.
| Snyder and Senator Depew had raised his salary
/ to 100000. but that he had not been consulted
About the only spot where Mr.. Hyde's testi-
mony failed to meet the expectation of the com
| rlittee was in regard to the various yellow dog
| funds. In reply to question about the sss5 600
| fund. the only one he knew about, Mr. Hyde de-
clared that this was in existence when he first
came downtown but that he learned of if
| only in 1902. He summarized this incident thus:
1T Is a very good example of the fact that
! unfortunately relied upon other persons to do
/ right"
This yellow dog fund, Mr.. Hyde testified
| was brought to his attention by Mr.. Alexander
who told him that he had incurred large ex-
penses, With Mr.. Jordan on account of the Euui-
table. He then asked Mr.. Hyde to write a
letter to the Mercantile Trust Company proniis-
ing it the indemnity Of the Equitable 1t was
this letter that forced Mr.. Hyde TO pay 1912 900
| later. when the Equitable repudiated the ac-
count, and the banking department insisted that