The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1905-11-15
Hyde Exposed Some
II. Equitable Frauds
His Examination Was Continued
Again Today Before the Invest
igating Committee.
He Alleged a Conspiracy by tiar-
rirnan and Schiff to Make
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nj Big Profits.

- New York, Nov. I5.-Hyde, today
before the insurance investigating COM
mittee, denied that he or the Equitable
had anything to do with or any interest
III the United States Ship Building Co.
or its securities. f.. !.,tY1 :
Hyde frequently would become bitter
In his reference to some of his asso-
.ciates and while his entire testimony
was OF deep interest and cleared up
many points that have heretofore re-
NAMED in the dark. it was not until
late yesterday afternoon that the sensa-
nonal features of his testimony were
developed.
I. OF the $5oooo,ooo Union Pacific pool
Mr.. Hyde said Mr.. Hartman in
;stigated it and explained it was to be
"a 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 Mr.. Ha:riman's suggestion,
and talked only with Mr. Hartman on
the subject, The executive committee
was not informed of this operation, as
Mr. Hyde said that Mr.. Alexander did
not think it was necessary and that
Mr.. Hartman requested that the COM
mittee be not informed of it He said
that Mr. Hartman even refused to
give, a statement of the purposes of
the pool to, the superintendent of in
surance when he was 'clamoring for
it last spring. a.. ..t.tIt.. 4
Eclipsing all this sensational testi-
mony, however were the statements
OF Mr.. Hyde concerning Former Gov
ernor Odell and Mr.. Hartman relative
TO the settlement of the Shipbrilding
company suit against the Mercantile
Trust company. Mr.. Hyde said that
Mr.. Hartman came to him and advis-
ed the settlement of OdelPs suit as he
feared that powerful influence at Al
bany would be, invoked in retaliatory
measures. Mr.. Hartman suggested
as one of these. measures the revoea-
tion of the charter of the Mercantile
Trust company. Mr.. Hyde knew of no
actual steps that were taken nor of
ANY bill that was Introduced, bat he
was beset with runors that such steps
were about to be taken by legislation.
The Equitable Life, he said, was not
interested beyond the connection it
had with the Mercantile Trust com
#pany. Mr.. Hyde was under; the I'M
.pression that the :. Mercantile, in set
tlement,s retained the, bonds and paid
Mr.. Odell about $4,000. The original
claim of Odell was about $4,000. The
bonds subsequently melted about fifty
cents on the dollar. Mr.. Hyde said
Mr.. Hartman suggested settlement of
the suit and that the counsel and
members of the executive committee
of the Mercantile Trust advised it and
he recommended it.
The charges of conspiracy to get him
out of the country were made BY
Mr.. Hyde against Henry c. Frick and
10. III. Hartman in connection with
the reported aspirations of Mr.. Hyde
to become ambassador to France. He
said Mr.. Frick inspired the idea and
witness took it as a joke at first, but
when Mr.. Frick brought it lip later
Mr.. Hyde was hattered and both MIR.
Hartman and Mr.. Frick promised to
use their influence to secure the APP
,pointment. Again Mr.. Hyde waxed
bitter in his explanation of the extra
ordinary interest these gentlemen had
in his absence from the country. He
said he thought their idea was that
they would acqnit themselves of their
friendly Stewardship with great profit
to themselves. and added that the
nature of their interest had since be-
come very obvious. II
Mr.. Hyde charged Mr.. Prick with
breach Of faith in leading him to be-
lieye that the Frick committee was
friendly to him and with doing all
he could to dissuade witness from SELL
ing his stock "at the same time as
Mr.. Hyde said, doing everything on
that committee he could to knife and
destroy the yalue Of that stock.
Mr.. Hyde explained that I. he used
!" friendly in the just sense Of the
word and that if there was anything
for WHICH he could be criticized he
was willing to take whatever criticism
came. Mr. Hyde said he did not think
the committee posed as his friend,
while he was attacked on the other
side BY Alexander and his friends
under the shame of naturalization. MIR.
Hartman. he said. asked him TO move
the adoption OF the Frick report at the
meeting of the board, bit Mr.. HYDE
said he absolutely declined. as it was
corideninatory Of everything that had
ever transpired in the society, and he
was advised by counsel that such step
would throw the Equitable Life into the
hands Of a sceiyer.
narss N cAvycs 1T, u :, NJ