Milford chronicle., 1905-11-17
JAMES H. HYDE
MAKES CHARGES
Former Vice President of Equitable
Creates Sensation.
WHY ODELL SUIT WAS SETTLED

Equitable Lie Assurance Society
whose resignation followed the sensa
tional disclosures in that company last
spring which led to the investigation
OF insurance company methods by the
Armstrong committee Of the legisla-
ture; the man whose presence as a
witness before this committee has
been looked forward to in the expec-
tation that it would produce the great
est sensation Of the investigation, ap.
peared before the committee.
Mr.. Hyde cleared up the matter of
the S6S5,000 loan of the Mercantile
Trust company, which appeared on
the books of the Equitable Life under
the caption of the 81. W. Alexander
NO. 3 account" This account has been
under investigation on several previous
sessions, but none Of the witnesses
heretofore examined has been able to
explain It.
Mr. Hyde first heard of this account
in the fall of 1902, when it was called
to his attention by President Alexan. |
der, who said that he and Mr.. Jordan
had incurred the loan to take up stock
that was being bid up to fictitious
values, to the detriment of the com.
pany, to settle suits that were ham.
Dering the business of the company.
md for campaign contributions. This
contribution was the one to the last
campaign, and was asked by Mr.. Frick.
Vho suggested it for the benefit of the
'octety To procure this money. Mr..
Alexander had Mr.. Hyde write a letter
o the president of the Mercantile
rust company and this letter practi
ally placed him in the position Of a (
uarantor.
Later, when the settlement Of the I
IAN was forced, Mr.. Alexander and t
Ir. Jordan raised all they could to- c
ard it. The stock purchased with mart a
the loan was sold to Thomas f. a
van for $4,000, and the balance t
'l2,5O0, Mr.. Hyde paid personally. He
d this because he understood that
r. Alexander was financially embar L
ssed and in bitter tone said: Not
outstanding the strained relations
tn these two gentlemen (Alexander W
d Jordan), I felt bound to see that az
debt was liquidated by reason Of til
letter Mr.. Alexander extracted gi
IN me-" do
The syndicate operations of 7 TT CT
de aHd associates was gone into TO
y thoroughly, and It was shown ba
t IN % syndicates Mr.. HYDE sus. be
led personal losses of SzS,615. Mr.. a
de ascrihed the apportfonment of raj
Equitable's allotment of bonds in up'
dicates to officers of the EQUITABLE ing
to the customs and usages of of
Il street. era
clipsing all this sensational testi. the
~, however, were the statements for
dr. Hyde concerning former Gov. ira,
n Odell and Mr. Hartman rela. tim
to the settlement of the shin. the!
ling company suit by the Meroan. lost
trust company. Mr. Hyde said sust
Mr.. Hartman came to him and wer
5ed the settlement of Odelrs sniff died
reared that powerful influence at
ny would be invoked in retalfa.
measures. Mr. Hartman suggest. On
one of these measures the revo. P
a of the charter Of the Mercantile Sc
company. Mr. Hyde knew of no old j
l steps that were taken. nor of scho,
'ill that was introduced. but he fount
eset with rumOrs that such stems dead
about to be taken by legislation had
equitable Life, he said. was NOT fathe
sted beyond the connection if revol
With the Mercantile Trust com. right
The
Hyde was under the impression by th
he Mercantile in settlement re. a sto
the bonds and paid Mr.. Odeu years
$4,000. The original claim of rated
was about s18OO00. The bonds afterW
uently netted about so cents ON gether
llar. Mr.. Hyde said Mr.. Harri. to the
the settlement of the is knC
nd that the counsel and mem. deed,
the executive committee of the outcon
tile Trust advised it. and he petty
lended it.
yes OF conspiracy to get him out W.
gainst ~, VIZ = iIaue % Dy Mr.. hide an
riman, in connection with the 7 - Dl :
aspirations of Mr. Hyde to ~ ~.
to France. He said sa,.. ~ e,i9
'k inspired the idea. and wit - - S.-,a y
1k it as a joke at first but - -
r. Frick brought it up later ny .i.ee.iiis ll
@ was lattered, and both Mr.. ,,..,4 a[t u','. =
n and Mr.. Frick promised to 49, i.,1' -. -
r influence to secure the an wy "u'y
it. Again Mr. Hyde waved Body
his explanation of the extra Mahar
interest these gentlemen had body o
'sence from the country. He years. =
thought their idea was that delphia
Id acquit themselves of their pany, wa
stewardship with great profit St Mich
elves" and added that the since he
their interest had since be- and it is
Z obvious. murdered
de charged Mr.. Frick with Neoroes
faith in leading him to be- Atlanta
the Frick committee was a white r
to him and with doing all of neeroe
dissuade witness from sell criminal
oek, "at the same time" as tice was
o.