Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1905-09-30
FEW MORE REVELATIONS
Equitable Profits Disappear In
Very Peculiar Manner.
HUGHES GETS STRANGE FACTS
Senator Depew Brought Into Inves-
tigation as Participant In Two
Million Dollar Deal.

Million DOilar deal.
NEW YORK, Sept rs. The mos,
astounding revelations made since tn,
beginning Of the Insurance investIga
tion came to light through the testi
mony of Henry Rogers Winthrop. as
sistant secretary of the Equitable Life
Mr.. Winthrop showed that $1340ot
paid over to the Equitable as profits Ii
syndicate transactions had strangely
disappeared and that expert account
ants were hard at work on the compa
ny's books trying to trace the missing
funds; that United Suites Senator DE
pew and others had participated IN
syndicate deals without the consent OF
the finance committee, rcaping profits
for themselves where the Equitable
alone put up the cash: that james IT.
Hyde took $2T0,000 worth Of stock In q
transaction and that the Equitable
put up all the money for the deal; that
these syndicate deals, In which lndi-
vidnals profited az the expense Of the
Equitable's policy holders, were for
the most part managed BY Kuhn, Loeb
a. Co, jacob III. Schiff's firm tothcrs
were with r. z. Morgan & Coz; that the
Equitable, like the New York Life, ex'
ccuted dummy loans through minor
employees to wipe certain stock trans.
actions off its books.
The checks for the missing sums
were indorsed by Comptroller Jordan.
He has been discharged by the Equlta-
BILE and cannot be found.
1t was pointed out by Observers that
these checks were paid during the first
Mckinley campaign, and It was sug.
gested that the tracing Of the checks,
which were all Endorsed by Comptrol.
Ter Jordan, would show the means
hitherto mysterious, by which the
Equitable made its contributions to the
Republican fund, as did the New York
Life and other large insurance con
Germs.
Jacob III. Schlff, 1t Is announced by
Chairman Armstrong, Will be called as
witness.
United States Senator Dryden, presi,
dent of the Prudential Life, will also
be a witness.
Mr.. Schiff, one Of the most eminent
of American bankers, will be asked e
explain the transactions between the
Equitable Life and Kuhn, Loeb a Co.
the firm Of which he Is the head.
Mr.. Schiff declared on oath before
Superintendent Hendricks that his firm
had no dealings with the Equitable, Of
whose finance committee he was Z
member.
He branded as false those records Of
the Equitable which showed that mil
lions Of dollars worth Of Union Pacific
stock had been bought OF Kuhn, Loci
& Go.
George G. Van Tuyl, Jr, secretary
and treasurer of the Albany Trus
company since March 20, 1900, th'
first witness, submitted to Chief IN
vestigator Hughes statement of tn
account of Judge Andrew Hamilton
with Mr.. Van Tuyls company.
The name of Senator Chauneey NJ
pepew was brought into the lnvcsti
| CATION as one Of the participants in
| 100000 Pennsylvania coal purchas
syndicate, In which nearly eyerybod.
| connected with the Equitable Life ap
pears to have been participant, Ia
gether with the Equitable. The syndi
cate was managed by J. r. Morgan 4
Co.
James II. Hyde and associates
came in for a cool million participa
ton In a 100000 syndicate transac
ton in Western Maryland stock rh'
other $l,000,000 was taken by one o
the syndicate managers. There weri
two managers, Yermilye a. Co. ane
George T., Butler.
1.-THE syndicate Is not closed" sai(
Mr.. Winthrop, rand there have been n,
profits as yet.
'Ihe Hyde participation has beer
transferred to the Equitable"
In connection with S1,200,OOO Chi
caon and Northwest syndicate dea
there was another missing cheek epI
sode. This was for $4,000 made pay.
able to the Equitable Life by Kuhn
Loeb & Co, the syndicate managers
This check has not been traced since.
A $4,000 participation BY j. RI.
Hyde In a Union Pacific syndicate
transaction, managed by Kuhn, Locp
& Co, was shown to have been paid
for by the Equitable.
Senator Armstrong announced the
serious illness Of $. Fred Nixon, speak
er Of the assembly, and said that In
the event of his death the committee
would instantly adjourn