The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-11
HYDE TELLS OF SYNDICGTTS.
HENDRICKS HEARS or DEALS
TOTALING SIOO, 900, 900.
Or which Ss9 900 .OO0 vas Through Kuhn.
Loeb + CS.-I,OnE QufE Of Eauitsble
Vies-PreSIdent-saG DEPOSIT Com
pany Fronts Also Brought Up.

boep = No,-lonE QulL OF Eqhtaple
Vies-PreSldent-saTeIy DEPOSIT Com-
pany PrOHts Also Brought Up.
vice-Presldent James II. Hyde Of the
Equitable Life Assurance Society spent
more than Ave hours yesterday before
State Superintendent Of Insurance Francis
Hendricks and the lattsr's counsel, Con-
gresham II. f. Driscoll Of Syracuse,
answering the charges that have been
made against him as an ofiosr and director
Of the Equitable.
Mr. Hyde was examined under oath and
without the presenos OF counsel, Supt.
Hendricks having objected TO the presence
Of any Of Mr.. Hyde's lawyers.
President James W. Alexander was
examined Under OATH by Mr.. Hendricks
late on Tuesday afternoon, and he
also was unattended by an attorney. The
examination Of President Alexander had
20 do chiefly with the charges that have
been made against him-that he partici-
pated equally with Mr.. hyde in transactions
Of the james H. Hyde and Associates
underwriting syndicates.
Mr.. Hendricks would not say yesterday
that his examination Of Mr. Hyde had
been completed, and it is expected that
he will be put on the stand again this
morning.
The examination OF Mr.. Hyde yesterday
also had to do largely with the under
writing syndioates Of which he was the
head and which sold securities to the
Equitable. and with his relations TO the
various safety deposit companies which
have ofioes In the Equitable buildings
in this and other cities, and in which he
Is supposed TO be a large stookhoider.
As regards the james II. Hyde and
Associates syndicates, Mr.. Hendricks has
the names Of the men who for the most
part were the associates They are
Jacob H. Schih, F.. H. Hartman, Alvin
W. Krech. II. c. Deming and William II.
Mcintyre Mr. Hendricks has also the
information that the Hyde syndicates in
three year sold 800 900, 900 worth Of Sc
curites to the Equitable society through
Kuhn. Loeb a Co. and other bankers Mr..
Schin's firm, It is alleged, sold S77 900 900
worth Of securities to the society. The
Superintendent not only took Mr.. Hyde's
verbal explanation Of the deals, hut sent
out for all the papers and documents avail
able
As to the safety deposit companies in
which Mr. Hyde has large holdings, il has
been charged that they are paying only
q nominal rent for space in the Equitable
buildings and that employees in some Of
the companies are being carried on the
Equitable payrolls.
Whether Mr.. Hendricks took up yesterday
the question Of salaries which Mr.. Hyde is
Amazing from the Equitable and lie sub
sidiary companies could not be learned
definitely ..
Mr. Hendricks's information Is that Mr..
Hyde was elected second vice-president
Of the society on May 10. 1899, eight days
after his fathers death; that in July OF
the same year he had a salary Of t25 900 a
year paid to him: that in February, 1900,
he had this increased to SIS 900 a year, and
at the end Of l0O7 TO tl0O,OOO.
Besides this It is alleged that he caused
TO he paid to himself, as Hce-president Of
the Mercantile Trust Company, Si2, 500 a
year; as Nce-president OF the Equitable
Trust Company, $40, 600 a year, and az vice.
president OF the Commercial Trust Company
Of Philadelphia, 81 800 a year.
Sdpt Hendricks has information that Mr..
Hyde performs absolutely no services 10 the
trust companies for these salaries. In
addition, It il said. Mr.. Hyde is drawing
salaries from the Mercantile Safety De-
posit Company Of this city the Securities
Safety Deposit Company Of Boston, the
Coney Island and Brooklyn Railroad most
Of whose bonds, az told in THE Sun some
time ago, are held by the Equitable society.
and the Conried Metropolitan Opera Com
pany.
The morning examination began at II
O'Clock. Mr.. Hyde was accompanied by
his counsel, Samuel UnteTmger when he
entered the boards room. but Mr.. Inter
myer left in a few minutes. The eIamina-
ton was discontinued at ! O'Clock for
lunch and resumed at 2, lasting until S.
The application Of Herbert q. Tull for
an Injunction 20 restrain the Equitable
and the State Superintendent Of Insurance
from further proceedings with respect 20
the proposed amended charter was denied
yesterday by Justice MHcIIean in the su-
preme Court. A. Edward Woodruff, coun-
sci for Tull, said that he would take an
appeal from the decision.
PostmAster-0enera CoTtelyou was in
this city yesterday. The presidency Of the
Equitable has not bsen offered to him, and
there IL no basis for the recent reports !
connecting his name with the post other |
than that he had been considered for the
place by persons who admit that they have |
no authority 20 tender II.