Waterbury evening Democrat., 1905-06-24

mucn alike. They all contain prOyi sions with reference to arbitration il case of disagreement between th, parties as to the expenditures of thu lessee. Three arbitrators are to bt chosen, one by the lessee, one by tht lessor and the third by the two SC chosen, and the decision of such arbi trators shall be final and conclusive up on the parties. When 1t is clearly un derstood that the gentlemen who caus ed the society to make these long leases at great loss to the society are the same men who reap the profits from the leases 1t is manifest that il ever an arbitration question should come up as matter of form the so ciety's interests would not be looked after. That is all that need be said.
 These leases are all so one sided unfair and unjust to the society that it is practically impossible to convey clear idea of all their provisions by any extract which may be made, for it is difficult to believe that trustees of sacred trust would make such contracts against the welfare of the society and in their own interests
 MT. Hendricks then shows that the men who profted by these transactions were Mir. Hyde and his friends associ- ated with him in the control of the so- ciety. Continuing, he says:
 This is a brief statement of a few of the transactions between the Equi- table society and seven of the ten cor posations which are advertised as aftil- lated companies Time has not per mitted even partial investigation of it's business relations with the other thre@viz, the Lawyers Title Insur- ance company. the Lawyers Mortgage Insurance and the Franklin National bank.
 But the facts here stated disclose very decided tendency on the part of some of the directors and officers of the society 10 sacrifice its interests in order that they may reap the profits through the media of these corpora tions The opportunity was there as well as the disposition. and it would re- Quire a much more thorough investiga- ton than I have been able to make to determine the full amount of the loss that the society has suffered at their hands
 Syndicate Transactions In Metropolitan.
 The syndicate transactions conduct ed by James H. Hyde and associates have been so well advertised through the press that they have become noto- rious. According to the evidence of William H. Mcintyre, the letters of Kuhn. Loeb X Go. to MT. Hyde and Mir Hyde's correspondence. copies of which he submitted to us. the following are the material facts relative to one of these transactions:
 Metropolitan Street Railway 4 Per Cent Bonds of 2002. Syndicate.-On June II. 1902, Kuhn. Loeb & Co. al lotted to James H. Hyde and associ- ates participation in this syndicate of S1.0o0.000 at 94 and interest June IS, 1902, the executive committee of the Equitable society recommended the purchase of s1 .c00,0O0 of these bonds at 91l2 and interest. June %, 1902, the purchase of these bonds. was. reported to the executive comm.stee at 91ll2 and interest, less one-half per cent, and on July S. 1902, the bonds were delivered to the society by Kuhn. Loeb & Co From this transaction James H. Hyde and associates realized profits of s30,- FLOSS. which were divided according to the following sub-allotment