The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-11-15
ODELL TO REPLY.
Former Governor Asks to Be
Called to Testify
Before the Insurance Investi-
eating Committee.
WOULD ANSWER HYDE.
Former Vice President of the
Equitable Society
Continues His Testimony Begun
on Tuesday.

Ou AACoudJs
New York, Nov 15-Forner Gov
ernor B. B. OdelL jr.. today requested
Chairman Armstrong of the insurance
investigating committee to call him
before the committee and give him an
opportunity to testify under oath in
reply to the testimony of Mr. Hyde
given before the committee.
James Hazen Hyde was the first
witness today before the Armstrong
committee on insurance investigation.
He asked to correct his testimony Of
yesterday relative to offers for his
stock. He said he did receive four
offers besides that OF Mr.. Ryan. Two
of these came from Mr.. Hartman and
Mr. Frick. He was offered $5,0OO,O0O
for his entire holdings and S2,5OO, 900
for half of them. George Gould also
made such an offer, but these were all
declined, because witness did not
think one man should control the So
ciety. Geo. L. Tarbell made an offer
and said he had a syndicate ready
to buy the stock. George W. Young
also offered to buy Mr.. Hyde's stock.
These We're all verbal offers.
Reading from the accounts of 1853,
1869 and 1870 Incorporating the Fire
proof WarehOuSing cOmpanV and
amending the act to change the name
to the Mercantile Loan and Warehouse
company and subsequently in 1875
changing the name to the Mercantile
Trust company, Mr.. Hughes brought
out the story of the Mercantile Trust
company's charter He then read a
bill introduced by Senator Amber in
the senate in March, 1904, to repeal
all these acts and amendments. The
L. L.
been to leave the Mercantile Trust
company without a charter. Mr.. Hyde
here made a statement denying that
he or the Equitable Life Assurance
society had anything to do with or
any interest in the United States Ship
Building company or its securities.
Stock Juggling.
On March 16s 1901. the Equitable
Life Assurance sec asv bought 1000
shares Of the Lawyers Title Insurance
days later sold LOO shares at the
same price TO George H. Squire Mr.
Hyde said he did not know of the
sale though he was a member of the
executive committee, and did not
know that the stock was worth a
great deal more a short time after.
Mr.. Hyde said he sold to the society. on
October IS, 1904, 28S shares of this
stock at 315, and that was the only
transaction he had in this stock. The
time Stocks were bought on Mr.
Byde's account from Williamson &.
Squire, but Mr.. Hyde denied that he
had bought from them and said that
no one had his power of attorney. He
knew brokers were picking up this
stock, but did not know it was being
bought for any of his own committee
Some of the purchases. he said, were
made for Thomas D. Jordan. but Mr.
Hyde knew nothing about it and never
had any conversation with Mr.. Jordan
about it. After the change of name
from American Deposit and Loan
company to the Equitable Trust COM
pany, officers of the EQUITABLE life
stock of the Lawyers Title Insurance
company in the name of the American
Deposit and Loan company and TAX
ing the profits on the stock. This was
the first Mr. Hyde had heard of this
transaction.
Mr.. Hyde said he could not remenn-
Der that he had ever received any
money or division Of profits from
GreOge H. Squire and it would difficult
to refresh his memory because his
books had been in a most confused
state since he left the Equitable Life
He did not know that it was possible
for Squire to sell stock to the society
without the knowledge of the executive
| committee, but thought it could be done
by arrangement with the president.
Papers Were Destroyed.
certain who had his power of attorney
while he was abroad because when he
returned the papers were always de-
stroyed. Senator Armstrong asked the
witness if an obligation purporting to
have been made at time when Mr.
Hyde was abroad should turn up now,
how he could determine if it was a le-
climate transaction. Mr.. Hyde re-
piled:
7 don't know; it would be very en-
barrassing."
The amount of expense incurred by
Mr. Hyde on behalf of the society was
not gone into. Mr.. Hughes announcing
that this matter was covered in the re-
port of superintendent Henricks and it
was not his purpose to go into matters
SO covered because of the limitation of
the committees time.
Mr.. Hyde added to his statement in
that report an explanation of the case
used in making up the report of these
expenses. He said that he would have
been glad at any time to have gone
over these expenses with any of the
members of the executive committee,
but he was never asked question
about them nor was he ever asked for
an itemized account of them
E. H. Hartman, president of the
Union Pacific and Southern Pacific
railways, was called to the stand. Mr..
Hartman testified that a per cent.
participation in the Union Pacific syn
dieate was offered to James H. Hyde,
but Mr. Hyde said he could not sign
such q large thing and that he would
interest the Equitable Life. Mr. Har-
rinan said he did not want the Equit-
able in the syndicate unless his con-
fdence could be guarded