Connecticut western news., 1905-11-16

the Mere antile Trust Company and
 shipbuidins Trust-Testimony of Nc
 Call and Hegeman-Committee to
 Look Into Influence on Legislation. Hyde, former vice president of the Equitable Life Assurance society, was called to the stand before the legiSla- tive insurance Investigating committee and questioned at length by MT. Hughes.
 Mir Hyde made the charge that Ed ward H. Hartman influenced a pc cuniary settlement by the Mercantile Trust company of former Governor Odelrs suit growing out of the ship building trust case.
 MT. Hyde stated under oath that Mir. Hartman had represented to him and to other officers of the Mercantile Trust that unless the Odell interests were placated in Albany steps were likely to be taken to revoke the charter of the Mercantile Trust, which was then and is now one of the Equitable Life Assur- ance society'S most valuable auXilia- rieS.
 Paid odeII $75,ooo.
 Influenced by this menace, Mir. Hyde said, and under the advice of Everett Colby, it's counsel, the trust company paid to MT. OdelI in settlement $75,000, and in addition to that he retained his holding in the bonds of the shipbuilding company, which, according to state ment made by Samuel Untermyer, counsel for Mir. Hyde, afterward real ized on the reorganization of the com pany about 50 cents on the dollar.
 MT. Hyde also charged Edward H. Hartman and Henry c. Prick with treachery toward him in their conduct of the work of the Prick Investigating committee. He said he believed that MT. Prick, MT. Hartman and others had supported his ambition to become United States ambassador to Europe in the hope of thereby shelving him in Equitable affairs and getting him out of the way.
 It also appeared in evidence that about the time Mir. Hyde was going to Washington to urge his claims on President Roosevelt for appointment to the French embassy MT. Hyde. at the request of Henry c. Prick, had rec commended to Mir. Alexander, president of the Equitable, campaign contribu tion of $25,000 to Cornelius N. Bliss treasurer of the Republican national campaign committee. A contribution of $25,0oO had already been made by the Equitable to the Republican cam paign fund a few months previous. while MT. Hyde was in Europe. He was not aware that this had been done, but the second contribution was made nevertheless, making the Equita- ble's donation toward Mir. Roosevelt's reelection last year $50 900.
 Referred to "Yellow Dog Fund"
 MT. Hyde also made the revelation that when the state banking depart ment demanded last summer the pay ment of the $6S5.00O loan carried by the Mercantile Trust in the names of James W. Alexander and Thomas D Jordan, trustees, which loan has been technically known as the U. W. A. No. 8" account and pOpularly known as the yellow dog fund.-" Mir Hyde paid from his personal account $212000 in order to assist MT. Alexander and Mir. Jordan to make up the amount after the present management of the Equitable Life had repudiated the loan
 MT. Hyde sketched briefly his career before and after entering the service oc the society; declared that he was offer ed, but refused. any salary the first year, 1898, the year he was graduated from Harvard; that ill 1900 his salary was fixed at $30,0O0 without any re- quest from him and that the subse- quent increases to $75, 1000 and $100, 1000 were likewise without solicitation or knowledge on his part. He insisted, however, that he had been trained for years for expert life insurance work by
 Testimony of Mccall and Heseman.
 John A. Mccall, president of the New York Life Insurance company, when recalled to the witness stand, declared S lative agent of the company, has not repaid to the company before Dec. 15 the $235,0OO which, it has been shown, he paid out for the company without rendering any account he (McCalD will repay the amount himself to the New York Life before Dec. 31.
 John R. Hegeman, president of the MetrOnOlitan Life Insurance company, testified also at the inquiry. His salary, which was $6,0OO up to 1892. is now 100000. President Hegeman admitted that 51 per cent of all the policies in the industrial department lapsed with in the first year. What does policy | holder get when the policy lapse? ]? MT. Hughes asked. Nothing" replied | ing testimony by President Hegeman | was the statement that his company de- posted hundreds of thousands of dol lars in banking institutions without ] drawing interest.
 l From the line of investigation pur- sued by Mir. Hughes it was evident that the committee is determined to leave no stone unturned to discover all the | various details in connection with the efforts of the big insurance companies | to influence legislation affecting insur ance throughout the United States dur.
 ing the plst tel years.
 | Killed by Kitchen Explosion. n