The Washington times., 1905-11-14
ENTERS Mr.. HYDE
AS CAMERAS SNAP
AND LADIES GAZE
Famous Young Man
Heard at Insurance =
investigation.
TELLS HIS LIFE STORY
Trained to Business by
Father From His Boy
hood, He Says. f.
TELLS HIS LIFE STORY

NEW YORK. Nov la.-sJsmes Hazen
Hyde" called Mr.. hughes. at the legis-
lative insurance investigation this morn
ina
I There was a str in the room ard the
young inancier came forward and was
sworn.
Mr. Hyde began his testimony on The
order OF George ". Perkins, by making
a statement when Mr. Hughes asked
him about his hrst association with the
Equitable.
He declared that he had been educated
by his father in the life insurance bust
ness. From his earliest youth he said,
i ne had been brought up to understs
! father as the head Of the Equitable.
Confident of Ability.
/ He entered the service of the society
/ in the fall OF 1898 as second vice presi-
dent, ard felt qualified TO an the posi-
ton. He was offered a salary when he
entered the service. but he declined to
accept any compensation.
The salary was offered he declared
By the president and members of TIE
executive committee but he could not
recall any Of the executive committee
members who had thus offered a salary
In 1900 he accepted salary of $4,000.
This continued until 1902. when his sal
airy was increased to $4,000.
In 1903 the salary was increased TO
! s1O0.co0. and continued at that figure un-
/ til H. resigned
Salary Unsolicited.
When his salary was first fixed at
| &S0. .O00. he declared. ne was given that
sum without asking for It. at the sug-
gsstion of the president and members
Of the executive co-nmfttee. who sug-
gested that as he had worked two
! years for nothing he should begin 10
draw salary.
In 1893. when his salary was increased,
he had been made chairman of the
finance committee. which added 10 his
/ duties
He Insisted that both increases voted
him in salary were made without sug-
gestion from him. at the volition of the
executive committee.
Mr. Hughes quoted from Senator De-
peW's Testimony that he could not re-
| can whetl. er former President AIexan-
| der or Mr. Hyde had asked an increase
! in salary. but that he believed II was
Mr. Hyde. and that Hyde wanted more
than Alexander.
The witness could not offer any expIa-
nation CT this testimony.
| Mr. Hughes asked If Mr. Hyde would
have been willing to continue his con-
pection with the company $4,000 if
the increase to 100000 had not been al
YES sir" was the answer, because
do not think l could have gotten that
amount anywhere else.
A laugh went around the room, Is
the witness said this.
Got Money at Will
Mr.. Hyde said that after his eonnec-
ton with the society. the executive
committee had given him authority to
obtain sums of money from the cashier
of the society without any voucher
other than his own.
do YOU know II Thomas Jordan. as
comptroller, had authority to obtain
money from the cashier without any
other vouchers than his own?
Il do not"
Mr. Hyde said he became a director
N tn Equitable Trust Company some
time previous TO 1901, and later became
a vice president at a salary OF $500.
which was increased to $4,000. He
| claimed much credit ror building up the
Equitable Trust Company.
Doesn't Know yellow Dog"
lie was asked concerning the George
IL Squire, trustee. account in the
Trust Company, but he said he knew
nothing about it.
| Mr.. Hyde said that President Alexan-
der had once directed him to give 4
participation in the international Mer-
camille Marine syndicate 10 Mr.. Squire.
but ne said he did not know what Alex
! ander's purpose was in such direction,
and ne did not know what connection,
If any. the Equitable Society had with
the Squire account.
, The purpose OF the George II. Squire
| trustee. account" has never been de-
. | veioped so far in the investigation, and
/ is a part OF the account which has been
= referred 10 as the yellow dog fund
= Mr. Hughes tried to md Out from Mr.
Hyde what the purpose OF the account
. had been. but he insisted that he knew
not hing about IL.
Mr Hughes then went into some
what lengthy examination If the witness
, relative 70 syndicate operation In which
4 tho Squire fund figured
l Mr. Hyde denied knowing that secu-
o rites belOn ging to the Equitable Society
In the Squire fund. He also denied
All knowledge OF the Marcellus Hartley
. account or the Louis NJ. Bailey account
= which have figured in the investiga ton
p Mr.. Hyde said he first heard OF ths
c 7 W Alexander account No B. an.
}, other of the secret funds in 1902 Mr.
-s AIexander had explained that the funC
had a three-fol1 purpose. The first wal
: - settle suits which threatened to max.
c unuIeasant litigation. The second Il
= purchase outstanding stock, and tn,
third TO make contributions to politica
Z funds.
a a Campaign Contribution.
q The only contribution of which he haS
c knowledge he declared. was the sum O,
s25 900 made last fall to the Republican
q stionaI Committee and paid to Cor
y 'us N Bliss at the suggestion o.
5. ~ Q. Frick. Mr.. Frick had suggest
= him. the witness said. that the in
te. OF the Equitable demanded tha
(ContiBua1 on second Pa1eN