Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-11
HYDE MAY COME BACK
EXPECTED TO REACH NEW YORK
THIS WEEK.
Likely to Get Subpoena to Appear Be-
fore Insurance In
quisitors.

dispatch from New York says: Soon
after the return of Samuel Untermyer his
chief counsel who is due here from Europe
or Thursday, James Hazen Hyde is ex
pected to return to town and receive a
subpoena to appear before the legislative
insurance investigation committee. Ed
mund d. Randolph Of the New York Life
and Frederick Cromwell of the Mutual Life
will probably be on the stand tomorrow
when the committee resumes its hearings.
The Past Regents and Regents Associa-
ton of the Royal Arcanum of Brooklyn
has passed resolution scoring the supreme
council and Its alleged improper methods
and calling on the legislative committee 10
include the council in its investigation.
The publications by the New York Life
of a copy of a statement to stock sal as
made TO comply with bylaw q, and filed
opening of the first session. and the recol-
lection that details of the transactions
whereby the New York Life disposed of lis
STOCK were Immediately forthcoming TO
the insurance committee without any ap-
parently previous request, caused specula-
ton in insurance circles yesterday as to
whether this was in liberal pursuance Of
the New York Lifes wellknown policy Of
publicity whether witnesses who might
been previously subpoenaed.
This would mean that all minor New York
Life employees who might be thought TO
have cognizance Of these transactions, In
Guiding George w. Marshall, the $500 mes
senger, had been subpoenaed by the COM
mittee. The statement made, after citing
the requirements Of the Prussian insurance
law. that the New York Life should cease
to invest in or loan on stocks, mentions
list owned by the New York Life on jan
uary 1, 1899, aggregating 81, 532,OS4
Cost Of Stocks.
The list of stocks credited at cost value
by the insurance depar tment of New York
and the Prussian Insurance Bureau in The
examination of October, 1899, includes:
Chicago and Northwestern pfd ......... 81 $50 900
New York Security and Trust Company. 943. $50
Chicago, Milwaukee and st. Paul pfd.... $50, 500
The statement continues:
Between the date of said official reports
and December 81, 1901, at which latter time
we had agreed, pursuant to the bylaw
quoted, that no stocks should be included
In our assets, We disposed of substantially
all the shareholdings above mentioned, with
a profit to our policyholders over cost value
of So 235 95S.OS We subsequently received
through the New York Security and Trust
Company an additional profit of 1854, 135. 90,
being the excess realized on the Chicago,
Milwaukee and st. Paul preferred stock
and the Chicago and Northwestern pre-
ferred stock over their combined market
value on December 81 1901. This excess
profit was received pursuant to an agree
ment whereby those shares of stock were
delivered to the New York Security and
Trust Company, and an additional amount
Of securities sufficient to secure the trust
company against loss were also delivered
to It, together with the notes of employees
of our treasury department. Messrs. Matti-
son and Marshall, and "a credit was given
to this company December 81, 1901, for the
rly
and the St Paul. 235 and 100. respectively,
and anything above those values subse-
quently obtained for those stocks was paid
to the New York Life.
This additional profit of 1854 1852, added
Ito the profit previously mentioned of So
235 9S5 Gs makes a grand total profit OF
s., 800 121.
1t is understood that the committee will
probe further into the question of so-called
FICTITIOUS" sales in certain insurance COM
panes.