New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-30
Three Big Insurance Companies Gave Judge Hamilton
Funds for Use Throug ghout Continent.
SCHIFF ASSAILS HYDE AND HENDRICKS
Reteres Statements Concerning Equab Part u P Blind Pool
Declares Directors Of Corporations Are Practically Helpless

last ten wears was $4,000 and this was mani-
festly only a part. The developments along this
line would seem to lead a step nearer to the az
PLANTATION of the four yellow dog accounts OF
the Equitable, headed by the ~ W. A No. q
account amounting TO S6s5OOO; but the manner
in which this was diverted to Legislative work.
If it was has not yet been disclosed
The morning testimony OF Jacob ~ SohiH
amounted TO startling statement Of the alb
soIute domination of James Hazen Hyde in the
Equitable management. Mr.. Sohff drew sur
prising picture of the impotence OF COMMITTEES
members, and summed the whole situation up
in the epigrammatic comment;
"lt was all Hyde-Hyde and Alexander"
In explaining the various transactions OF his
firm of Kuhn, Loeb & Co in syndicates in which
the Equitable participated, Mr.. Schin justified
his course with almost fearful earnestness. max
ing short addresses. which had the appearances
Of q personal appeal for justification. He re-
ferred to Superintendent Hendricks with rather
startling bitterness He reiterated his famous
declaration before the Superintendent at the
earlier investigation that he had never sold
Union Pacific stock to the Equitable, and had
supposed James H. Hyde have purchased for
his personal purposes until the Ryan purchase
disclosures.
The evils of corporations "at the mercy OF one
man" Mr.. Schiff emphasized with great feeling
director of the Equitable but declared that.
far as sins Of commission were concerned, hts
conscience was clear His references to James
Hazen Hyde were marked with extreme bitter
ness and at one point. where Mr.. Hydes testi-
-nony before the Hendricks investigation was
cited in direct contradiction to HIS own. he
bluntIy accused Hyde of attempting to shield
himself
As a detailed statement Of the conditions
which rendered the finance committee merely a
body which passed on accomplished facts Mr..
Schiff supplied illustrative testimony. OF the
yellow dog" accounts. ranging from the senior
$685. 600 j. w A No. s. to the newest Of all,
the L. NJ Bailey trustee fund. Mr. Schiff knew
nothing.
OF campaign contributions, he knew only what
he had cleaned from chance remark made by
Mr.. Hyde to Mr.. Bliss, implying that the former
had made either a personal contribution one
from the sooiety-Mr. Sehiff Inquired
which to the second Mckinley campaign
through MIR. Bliss.
The syndicate operations of James n. Hyde
and Associates, and prior TO that of Eouis Fitz-
gerald and of George n. Squire land assoei-
! ates," were examined in great detail, and sig
nificant istter written on the Equitable letter
head, signed by James n. Hyde and directed BY
| him to okuhn, Loeb e Co.. presented, sd
! visinq him that thereafter all the Eauitsble's
! share in syndicates would be allotted to James
! =. HYDE and Associates and through them TO
| the Equitable.
! That these were subdivfded into major por-
| tons going TO the associates, and minor parts.
| eong TO the Equitable Mr. Schif declared he
| had not known although he was willing to char?
] acterize such performance as mot honest"