The Montgomery advertiser., 1905-11-16
HARTMAN AND HYDE IN
 A QUESTION OF VERACITY

later sold HOO shares at the same
 price to George H. Squire Mir. Hyde
 said he did not know of this deal.
 though he was member of the exec utfve committee. and did not know that
 stock was worth a great deal more a short time after. MT. Hyde said he | sold to the Society October I3. 1904.
 2sS shares Of this stock at 315, and that was the only transaction he had in this stock. Stocks were bought on MT. Hyde's account from Williamson and Squire, but Mr. Hyde denied that he had bought from them and said that no one had his power of attorney.
 He knew brokers were picking up this stock, but did not know 1t was being bought for any of his own com panies.
 After the change of name from the American Deposit and Loan Company to the Equitable Trust Company, off, cers of the Equitable Fife Assurance Society were buying the stock of the LawJ CTS Title Insurance Company in the name of the American Deposit and Loan Company and taking the profits on the stock. This was the first Mir. Hyde had heard of this transaction. | MT. Hyde said he could not remem- | her that he had ever received any money or division Of profits from | George H. Squire and it would be dif- fcult to refresh his memory, because I his books have been in a most confused l state since he left the Equitable Life. l lie did not know that 1t was possible | TOT squire to sell stock to the Society without the knowledge of the executive l committee, but 1t could be done by an arrangement with the President, MT. Hyde said he was unable to as- certain who held his power of attor- ney while he was abroad because when ne returned the papers were destroyed. Would Be Embarrassing. Senator Armstrong asked the witness 1T an obligation purportfng to have been made at the time when MT. Hyde | was abroad should turn up now, how could he determine if 1t was a legiti- mate transaction, Mir. Hyde replied: T aont Know. sir. It would be very em- barrassing."
 The amount of the expenses incurred by Mir. Hyde on behalf of the Society was not gone into, Mir. Hughes an- nouncfng that this matter was covered m the report to Superintendent Hem drix and it was not his intention to 20 .nto the matters so reported because of the lack of time.
 MT Hyde added to his statement in mat report an explanation of the care useu Tn making up the report of these expenses He said that he would have been glad at any time to have gone over these expenses with any members
 
 never asked a question about them nor was he ever asked for an itemized sc- count of them --s
 Mr. Hyde asked to be allowed to make statement relative to the critj- cism Of Superintendent Hendrix or, inc safe deposit leases of the EouitabIe .slIe, ana he said he thought it due to .ne memory or his dead father. Wit ness had read large number Of tyne written sheets when Mr. Hughes in- terrupted and said that the Statement was not from Mir. Hyde's nersonai knowledge of the acquisition of inc safe deposit companies and other suh- sidiary companies.
 Cnairman Armstrong said it seemed 10 him that the paper Mir. Hyde wanted to read was composite statemont oe persons who manifestIy keen thavo selves out of the Jurisdiction of inc committee. He said:
 Mcintyre Not on Haud.
 we are unable to procure Mir. Mo. lntyre MT. Hyde himself says that MT. Mcintyre is perhaps the only ners son wing who was so familiar with t1ehry $. Hyde's affairs that he could
 nahe up tne statement of this import ant evidence. MT. McIntyre's state. ment upon this matter Is being mi o,, record It appears on this record that at the time these leases were being made. Henry B. Hyde was not inc nose sessor of majority of the stock of the Equitable Life Assurance SocIetv ana that statement was based on a statement or MT. Mcintyre. It goes to our records. though it is only hv Mr McIntyre's assertion, while MT. Mo. lntyre Is probably Keeping himself from our Jurisdiction"
 MT. Hughes suggested that the state- ment De accepted and that the com mittee ignore portions of it coming from MT. Mcintyre. Mir. Hyde then nnished reading his statement.
 At the end of 1t, Mir Hyde said he tinentaI Insurance Company and tha, the Equitable did some fire insurance business through that companv Mr Hyde asked to make a statement ana said:
 This matter has been pretty well ventilated in the newspapers: my con nection with the matter is that at Mr McCurdy's suggestion became A dtrec. tor of the Continental Fire Insuranca Company, in which have mo stock and no pecuniary interest As it is mv duty as a director to get business. I toid MT. Jordan that if he couId giya tna1 company business, I would be glad If he would. That is my entire con- neetion with the company"
 F"NOrs 10 Gould and Harremaw
 MT. Hyde said Mir. Gould was soId certain shares of the Mercantile and trust Company at 500 when the Eout- taoie Lire was paying 515 because MT Gould contributed more businees tbar any other director and this was sna' cial Iavof. A sale to Mir HarrIman on similar terms was made for liIro rao sons. This, the witness said woe -. explanation to Superintendent Bendrix
 The Equitable Life Mir Hyde said owning more than one-half of inc Me- cantile Trust, made 50 cents on e~,o,.,, dollar of profit the Mercantile snr,,s. earns. so that one-half of the benant oS the stock sold to MT. Hartman an5 MT. Gould went to the EouItabIa ri1n
 MT. Hyde said he could remember na syndicate of which he was manager nor of any syndicate in which he re- ceived compensation of $16O,OOO as manager Mir Hughes then said.
 T should like to have you stata where the conversation took place y,,i,h Mir. Hartman with regard to the ad- visibility of settling Governor odeITs | suit against the Mercantile Trust Con, pany."
 MT Hyde said he thought if took place in Mir. Harriman's office in tba Equitable building, but did not rernam- Der whether any one else was nresant MT Hyde presented statement of tba transactions leading up to the orxani1as ton of the present Bank of Commaroa This statement was prepared bv VaIen- tine P. Snyder. president of the hank