The Ladysmith news and Ingram news. [volume] (Ladysmith, Wis.) 1905-1906, 1905-11-18
SAYS He THREATENED RETALIA-
TORY MEASURES If SUIT
WAS NOT SETTLED.
ROASTS Prick AND HARTMAN
CHARGES UNFAIRNESS AND CON
sPlRAcY TO GET HIM OUT
OF COUNTRY.

New York, Nov. 15.-James Hazen
| Hyde, in the last half hour of the
Armstrong insurance Investigating
committee session yesterday practical
| ly accused Former Gov. B. B. Odell,
| Jr., of blackmail in threatening,
through E. H. Hartman to have the
| charter of the Mercantile Trust COM
| pany repealed unless Odell's suit to
| recover on bonds of the United States
| Shipbuilding company was settled. Mr..
| Hyde created further sensations by &C.
| cusing the Frick committee of unfair
ness in it's report, charging Mr.. Frick
| and Mr.. Hartman with conspiracy to
| get him out Of the country by inspir-
| ing him with the ambition to become
| ambassador to France, and with en-
deavoring to overthrow his position in
| the Equitable Life Assurance society.
Means Every Word of 1t.
Mr.. Hydes attention was called to
the seriousness of these charges on
several occasions by Charles E.
Hughes, counsel to the committee, but
he said he made the statement after
many sleepless nights and long sad
days of reflection.
Mr.. Hyde was called to the stand
shortly after the session opened and
was under examination all day until
few minutes before adjournment was
taken.
Mr.. Hyde cleared up the matter of
the S685.O00 loan of the Mercantile
Trust company, which appeared on the
books of the Equitable Life under the
caption of the 81. w. Alexander No.
account"
Tells About Loan.
Mr.. Hyde first heard of this account
in the fall of 1902, when it was called
to his attention by President Alexan-
der, who said that he and Mr.. Jordan
had incurred the loan to take up stock
that was being bid up TO fictitious
values, to the detriment of the com
pany. to settle suits that were hamper
ing the business of the society, and
for campaign contributions. This con-
tribution was the one to the last cam
paign. and was asked by Mr.. Frick,
who suggested it for the benefit of the
society. To procure this money Mr..
Alexander had Mr.. Hyde write let
ter to the president of the Mercantile
Trust company and this letter prac-
tically placed him in the position of
guarantor.
Hyde Had to Dig Up.
Later, when the settlement OF the
loan was forced, Mr.. Alexander and
Mr.. Jordan raised all they could to-
ward it, The stock purchased with
part of the loan was sold to Thomas
F. Ryan for $4,000, and the balance,
s212,5O0, Mr.. Hyde paid personally.
He did this because he understood
that Mr.. Alexander was financially
embarrassed, and in a bitter tone said:
Notwithstanding the strained rela-
tons with these two men alexander
and Jordan) l felt bound to see that
the debt was liquidated by reason OF
the letter Mr.. Alexander extracted
from me"
Mr.. HYDE said that he first received
salary of 100000, seven years ago.
In 1902, when he became chairman OF
the finance committee, this was adj
vanced to $4,000, and in 1908 it was
advanced to 100000, at which it re-
NAMED until he resigned as vice pres
ident of the society.
Losses in Syndicates.
Mr.. Hyde presented a statement
showing that in the seven years OF his
connection with the Equitable Life
and the allied corporations his aver
age income had only been a little
more than $4,000 a year. This was
figured as seven years salary from the
Equitable amounting to $435,00O,
from which he deducted his losses in
syndicate transactions, amounting to
S28,615, and the $212,500 paid on the
S685,OO0 loan, which left balance OF
S193,8S4, or an average annual income
of $28,697, to which he added the av-
erage income from his offices in the
trust companies of $10,500 Witness
said he presented this statement to
show that he had been misrepresen-
ted.
Union Pacific Pool.
Of the $50,000,000 Union Pacific
pool, Mr.. Hyde said, Mr.. Hartman in
stigated it. and explained it was to be
holding syndicate for five years. 1t
was understood this was for the pur-
pose OF controlling the Union Pacific
Mr.. Hyde signed the syndicate agree
ment at NJ. Harriman's suggestion,
and talked only with Mr.. Hartman
on the subject. The executive com
mittee was not informed of this opera
ton, as Mr.. Hyde said that Mr.. Alex
ander did not think it necessary, and
that Mr. Hartman requested that the
committee be not informed OF 1t. He
said that Mr.. Hartman even refused
to give statement of the purposes OF