Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-15
INSURANCE INCUR z
J. II. HYDE TELLS OF EQUITABLE
METHODS.

At the insurance inquiry in New York,
after The Stars report closed yesterday
afternoon. Mr.. Hyde said the Equitable
stock which was bought with part of the
loan secured by Alexander and Jordan was
sold to Thomas F. Ryan for $21250o and
the proceeds were turned toward the liqui-
dation of the loan.
In reply to Mr.. Hughes the witness said he
had never consulted with Mr.. Jordan in
legislative matters. Up to short time ago
he owned place in Suffolk county which
he since has Sold but he could not ac-
count for Mr.. Jordan's instructions to
Mr.. Field, the Legislative generalissi-
mo" as Mr.. Hughes referred to him, with
reference to a bill affecting Suffolk
county. He said that, while he was In
tcrested in water rights for fishing pur-
poses, he was not a fisherman. and none
of the bills mentioned in Mr.. Fields in
structions were of personal interest to
him in any way. Mr.. Hyde knew moth
ing of large part of the $6S5O00 loan
going to the Equitable Life to pay for
cash items drawn by Mr.. Jordan He
knew nothing of the whereabouts of Mr..
Jordan, and added mot even the enter
prising American newspaper knows
where he is
The syndicate participations of Mr..
hyde were taken up, and were under
consideration when recess was taken.
Mr.. James Hazen Hyde, testifying yes
terday afternoon, practically accused ex-
Gov. Benjamin B. Odell of Matchmaking
the Mercantile Trust Company out of $75,-
600 as settlement of suit brought by
him to recover losses he made in an invest
ment in the bonds of the United States
Shipbuildng Company.
Mr.. Hyde proved to be the most i'm
portant witness yet examined by the legis-
lative committee He charged:
First-That E. H. Hartman told him the
Mercantile Trust Company. which was
owned by the Equitable Life had better
settle Odell's suit, otherwise bill might
be put through the legislature repeating
the Mercantiles charter. AS result of
this threat cambridge Colby, counsel for
the Mercantile, advised It's officers to pay
Odell $4,000. Odell, who was then gov
did not turn over to the trust company
the shipbuilding bonds on which he based
his suit. He subsequently sold these
securities and retained the proceeds.
Repeal Bill Was Introduced.
Second-That the threat made to repeal
the charter Of the Mercantile Trust Com
pany was not an empty one. On March
81, 1904, the late Senator Amber, one of
Odelrs henchmen, introduced a bill which,
If 1t had gone through, would have an
nulled the charter of the Mercantile Trust
Company. The $4,000 was paid to Odell
in the fall of the same year.
Third-That e. H. Hartman and Henry
c. Frick tried to form conspiracy TO re-
move him as a factor in the Equitable so
that they could get possession Of the society
and its S40Q,O00,O 600 Of assets.
Fourth-That Tricks first move in this
direction was an effort to have him APP
pointed an ambassador by President Roose-
welt Hartman, Jacob H. Schir and Sena-
tor Depew did all they could, he said, to
further this plan. He was attracted by
the idea, and after they had made all the
preliminary moves he went to Washington
and saw the President at the White
House The enthusiastically sought was
not given him.
Fffth-That Hartman and Prick, while
pretending to be his friends in his fight
with James w. Alexander, knitted him in
the back and did everything possible to
depreciate the value of his stockholdings
in the Equitable Life, and then made an
offer to his lawyers to buy his stock con-
troll of the society.
Says Frick Tried to Rule the Society.
Sixth-That Henry C. Frick. from the
day he entered the Equitable board of
directors, tried to dominate the society and
created "a reign of terror
Seventh-That the Equitable's yellow-dog
fund maintained in the Mercantile Trust
Company as a loan, and known as the
James w Alexander No. account was
used for three purposes, namely to settle
suits the purchase of Equitable stock and
for political contributions. When this loan
was liquidated, last July, Hyde paid out
of his private funds $4,000.
Mr.. Hydes examination was not COM
pleted yesterday. He will again be a wit
ness today. e. H. Hartman has also been
subpoenaed as witness, and will probably
be examined today.
The revelations concerning ex-Gov. Odell
will necessitate his appearance as witness
before the committee. Henry G. Prick, 1t
is expected, will also be subpoenaed.
All these men will be examined relative
to the charges made against them by Mr..
HYDE