The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-10-03
Other Insurance Companies Also
Hired Him to Look After Leais-
Iation In Various States.
SENSATIONAL EVIDENCE IN
THE INSURANCE INQUIRY
Judge Hamilton Has Been Paid Near
ly $4,000, Besides Retainer,
From One Company Alone.
scHIFF's SURPRISING TESTIMONY
Declared That James II. Hyde Had
Distributed Allotments Of Dough"
Among His Friends.


New York, Sept. 29.-That former
Judge Andrew Hamilton was retained
by the Equitable and other big life In
surance companies to look after legis-
lation in various states throughout the
Union, and that during the last eight
years the Equitable a1one paid hin:
$45, ,39O.4S, in addition to an annual re-
tainer of $2,50O, was the sensational
testimony given at the insurance in
vestigation this afternoon by Alfred
w. Mayne, associate auditor Of the
Equitable Life Assurance Society.
Mr. Mayne said that Mr.. Hamilton
was also retained by the New York and
Mutual Life companies.
Jacob H. Schiff of the firm of Kuhn,
Loeb & Co., who was on the witness
stand before Mr.. Mayne, gave surpris-
ing testimony. He declared that Jas.
Hazen Hyde had distributed allotments
made by Kuhn, Loeb & Co. to the Equi-
table among his friends.
Mr.. Schiff declared that until the pro-
ceedings before the committee, neither
he or any other member of the firm of
Kuhn, Loeb & Co. had any knowledge
of any personal participation of Mr..
Hyde in syndicate formed by him.
"Mr. Hyde did not do right, said Mr.
Schiff. when we made syndicate all
lotments to James H. Hyde and asso-
ciates, they were meant for the Equita-
BILE alone"
Mr.. Schiff, who was director of the
Equitable Life Assurance Society un-
der the Hyde regime, declared that the
society was call Hyde--all Hyde and
Alexander" and that he had made a
mistake in becoming a director in q
society that was at the mercy of one
man."
Mr.. Schiff, in reply to questions of
Mr.. Hughes, inferred that the Equita-
BILE also contributed to campaign
fund. as did the New York Life. Mr..
= Schiff was asked IL he knew of any
contributions being made by the Equit-
able to contribution fund
He replied: "Mr. Bliss. treasurer OF
the Republican national committee
told me that Mr.. Hyde had contributed
/ assumed it was not Equitable money
but never made inquiries regarding the
matter"
Mr.. Schiff made long statement re-
garding the Union Pacific preferred
stock syndicate. He said that there
had been unjust insinuations made In
the matter of his firms dealings In
the stock, and declared that the report
that Kuhn, Loeb Il Co. had sold 81
100000 worth of Union Pacific pre-
ferred to the Equitable Life Assurance
Society was false.
He said the syndicate was not formed
by Kuhn, Loeb & Co. at all, but by e
II. Hartman. for the purpose Of get
ting holdings of Union Pacific stock
the concentrated Pacific. holding. HI
said his firm was simply asked to ac'
as clearing house, and that 1t never
made any profit out of 1t.
Mr.. Schiff declared that among thu
first names furnished as participant
was that of James Fl. Hyde, for $2,
100000, and he never knew until th'
Frick committee disclosures that th
Equitable Life had any share in tn
syndicate. Ho declared there was NJ
better investment in the world, ant
that Paul Morton has declined to par
with the stock.
When Mr.. Mayne took the stand a
the afternoon session, he said he live
in Summit, N. j., and had been con
nected with the Equitable in his pres
ent position since 1892. He said h
had met former Judge Hamilton II
1900. James w. Alexander presiden
of the society at that time, had intro
duced him. Mr.. Mayne testified tina
Mr.. Alexander had told him Mr.. Ham
ilton was looking after matters of leg
islation as counsel for the Equitabl
Life.
did you know at that time" aslSe
Counsel Hughes for the committed
that Mr. Hamilton was receiving
salary OF 100000 year from the Ne'
York Life Insurance Col"
II did not" replied Mr.. Mayne.
The witness said that from time t
time Mr. Hamilton would report t
him on the various bills introduce
into the legislatures of states othe
than New York. Mr.. Mayne said h
never had anything to do with Me-
York state legislative affairs regardin
insurance companies.
Mr.. Mayne testified that there wa
an arrangement between the Mutua
New York Life and Equitable Life b
which the whole country was divide
among them, so that each compan
would take care of certain states r.
garding legislative affairs. The Equi
able Life, for instance, looked afts
massachusetts,, California and Georgia
Another important part OF M
Mayne's testimony was to the effe'
that e. l.. Short, who is known as tn
general solicitor for the Mutual Lii