The Barre daily times. (Barre, Vt.) 1897-1959, 1905-11-15
Hyde Says S6S5,OO0 Loan
Was Used as Campaign Fund
ALSO TO BUY OFF SUITS
Paid Back by Him, Alexander, Jordan
and a Stock Sale - $4,000
Was Given to Elect
Roosevelt.

New York, Nov. 15.-James Hazen
Hyde, vice president of the Equitable
Life Assurance Society, was called to
the stand before the legislative insur-
ance investigating committee and ques-
toned at length by Mr.. Hughes yes
terday. He proved to be keen and
at times secretive witness. His mem
DRY was often missing.
A most interesting point in his testi-
mony was his explanation of the So
called yellow dog fund.- lie said that
the objects OF the $685,00O loan by the
Mercantile Trust company to the Equit-
able We're. To buy off announcement
suits; to buy up stock OF the Equitable
as it came into the markets, and TO
make POLITICAL contributions. The only
political contribution Of which he knew
personally was that Of $4,000 to Cor
nelius N. Bliss, treasurer Of the Re-
publican national committee, in the last
presidential campaign made through II.
G. Frick. He was also informed that
previous contribution Of $4,000 had
been made, he being abroad at the
time.
Witness testified further that the
$6S5,000 Mercantile Trust company loan
to the Equitable was paid off by q con
tribution Of $212,000 by himself; BY
S2l2, $50 realized from the sale of Eqnif.
able stock bought in the market with
the money raised by The loan, and the
remainder By James W. Alexander and
T. d. Jordan.
Mr., Hyde sketched briefly his career
before and after entering the service OF
the society; declared that he was offered
but refused salary the first year, 1895:
that in 1900 his salary was fixed at
$4,000 without any request from him.
and that the subsequent increases to
$75,0 900 and 100000 were likewise with.
out solicitation or knowledge on his part.
He insisted, however. that be had been
trained for years for expert insurance
work by his father, the founder Of the
Equitable.
He caused laugh when asked ii he
would have been willing to continue his
services to the Equitable at the salary
OF $4,000 at the time his compensa-
tion was increased to 100000 in 1903.
The witness smiled and answered that
be certainly would have been willing to
continue at a salary Of $4,000. Il
could not have got as much anywhere
else,s he said, and joined in the general
amusement that followed.
shortly before the midday recess the
subject OF Mr. Hyde's transactions in
syndicates was reached, and he stated
positively that he had never been asso-
GATED with any syndicate in the man
agement of which E. Fl. Hartman had
participated.
This statement was expected to lead
to most interesting developments re-
garding the controversy between Mr..
Hyde and Messrs Schiff and Hartman,
but the matter was not pursued at the
moment.
Mr.. Hughes attempt to elicit from
Mr.. HYDE information as to the exact
whereabouts Of William II. Mcintyre
were unavailing. Mr.. Mcintyre Is one
Of the men whose evidence is greatly
desired by the committee, but who has
kept without the jurisdiction OF the
state.
Mr.. Hyde spoke In voice that was
audible throughout the chamber, al
though II trembled at first. AS he went
on his voice became frmer.
An echo Of the bitter contest between
the witness and former President Alex.
ander of the Equitable was sounded nm
intentionally BY the witness in q slip
Of the tongue. In the course OF his
testimony regarding the knowledge OF
the 7. d. Jordan. trustee, account
fknown as the Equitables yellow dog
fund.- he had occasion to refer to the
aged ex-president
4 suppose that Alexander mean
Mr.. Alexander" ne said quickly cor
recting himself and supplying the title.
There was a pause, and the witness
eolored slightly.
just across the room from Mr.. Hyde
a brigade Of camera men fixed their I'M
struments. From time to time the
click Of their lenses was heard, but the
witness seemed not to be embarrassed