Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-11-15
INSURANCE STOCK
IN GREAT DEMAND.
James Hazen Hyde Testifies That
Hartman, Prick and Others
Wanted It.
WAS OFFERED FIVE MILLIONS.
Goes Into Detail Concerning sale by
Equitable Assurance Of Law
ycrs Title Stock

New York Nov. l5,-Jsmes Hazen
Hyde was the first witness today be-
fore the Armstrong committee on in
surance Investigation. lie asked 20 cor
rect his testimony OF yesterday relative
to offers for his stock. He said he
did receive four offers besides that OF
Mr. Ryan, Two of these came from
Mr. Hartman and Mr.. Frick. He was
offered i5,Oo00oO for his entire holdings
and &,jOo,OQo for half of them. George
Gould also made such an offer. bur
these were all declined because witness
did not think one man should control
the society Gage L. Tarbell made an
offer said he had syndicate ready to
buy the stock. Geo. ". Young also
offered to buy Mr.. Hydes stock. These
We're al! verbal offers.
Inc largest price offered was 81. 600
600 by George W. Young, former presi-
cent OF the L. $. Mortgage A 1rust
company. Mr. Goulds offer was made
lfsl, that was in the beginning of
the row. said Hyde, 1T must have
Deen IN the beginning OF February. The
second oifer was made by Mr.. Frlck n
Few moments before the FIRST hoard
meeting In February of s5OC0.OOO for
the entire holding, or Of $2,50OOoO for
one half Of the holdings. / declined
both OF these offers as did not think
II was for the best interest OF the
society that should then pat with my
stock or II ] did part with II did not
thlnk 1t for the best interest nf the
society that one Individual should con-
trol IT, / had no idea Of parting with
my STOCK at that time | offered TO
trustee It to the society for five years.
Ihat was at the beginning Of this
trouble, ! offered to trustee il for five
years and then afterwards offered II
10 the society to buy 1t and | then
afterwards discovered the society dId
not have Me right to buy It,"
What was the third Offer"
The third offer was an offer Of 81 000.-
OyO from Tarbell. He informed me
that he had a syndicate of gentlemen
ready to purchase IL. This was some
time in February"
What was the next Offer"
Then ] also received an offer from
George W. Young of $1,000. 900 should
say that was at the end Of February or
the beginning OF March; / am not sure
OF the exact date"
Mr.. Hyde testified that the only Offer
for his stock made after the Frlck
report was Mr.. Ryan's.
Mr.. Hyde said he could not remember
that he had ever received any money
or division Of profits from George II.
Squire, and II would be difficult Ia re-
fresh his memory because his books
have been IN most confused slate
Ctnpp he hf
did NOT know that IL was possible for
Squire to sell stock to the society With.
out the knowledge or the executive
committee, hut thought II could be done
by an arrangement with the president.
Mr., Hyde said he was unable to as
certain who had his power Of attor-
ney while he was abroad. because when
he returned the papers was always de-
stroyed, Senator Armstrong asked the
witness II AN obligation purporting 10
have been made AT time when Mr..
Hyde was abroad should turn W now,
how he could determine if II was a
legitimate transaction. Mr. Hyde re-
piled,
Il don't know it would be very en-
barrassing."
The amount OF expenses incurred by
Mr.. Hyde on behalf Of the society was
not gone into. Mr., Hughes announcing
that this matter was covered In the re-
port Of Supt Hendricks and 1t was not
his purpose TO go into matters so COW
cred because OF the limitation OF the
committees time,
Mr. Hyde added 20 this statement in
that report an explanation II the care
used IN making MP the report OF these
expenses. He said that he would have
been glad al any time TO have gone
over these expenses with any u the
members Of the executive committee.
but he was never asked quest lon
about them, nor was he ever asked for
an itemized account Of them.
Reading from the acts ~ 1868. 1869
and 1870. Incorporating the fire proof
warehouslng company and amending
the act TO change the name 20 the Mer-