The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-04-10
HYDE DECIDES TO TALK BACK
,,,S M mas BEEN MALIGNANT
~ ASSiILED FOR POLITICS.

trard .Jur, Ncws "DOled out" Daily to
Reflect on Him No City Money Lost
or In leopard, DID Net kVow Who
borrowed It-Whitman's Comment.
statement about his deposits Of city
moneys in banks which made loans to
rummins OF tho Carnegie Trust Company
Part of the statement repeats explana-
,ions already made that the $1,000 900
dcposit in Robins Northern Bank was
only an overnight deposit due 70 the col
lection Of taxes in The Bronx. The
Chamberlain says that this has been made
the basis Of newspaper accusations that
he nut million into the bank on somo
corrupt understanding, whereas the bank
was selected as depository for Bronx
revenues at the instance of Comptroller
prendergast formerly one OF its directors
and the money was deposited by the
Receiver Of Taxes. an appointee Of the
Comptroller
yet" says Slr Hyde. "the public is
wiliully led to believe that kept q million
dollars there to he loaned to my friends
Could anything be more diabolical!"
On other heads Mr.. Hyde's statemen,
saws.
By the advice OF my counsel. Samuel
rn,ermyer, ] have up to this time reluc.
,antly refrained from replying to the in.
.pired reports that are being announced
from day TO day as representing testimony
given before the Grand Jury affecting
my alleged official action. II is difficult tc
believe that the Grand Jury room is beins
thus invaded and its secrets doled out dali,
for publication in violation Of law. but tn,
stories purporting TO emanate therefron
are so persistent and circumstantial that n,
other conclusion is possible.
There is a malign political conspiracy
behind these reports and Misrepresentation
and have grown tired of sitting by Will,
M reputation is being assailed in the dark
The reports and the daily reiteration o
them in one form or another can have bu
one purpose-to inf'ame and prejudice tn
Grand Jury and dscredit me in the publi
mind The attack is cowardly and under
handel II is impossible for me to repl,
the secrecy OF the Grand Jury investigation
is being openly and shamefully defed
WREN ! was i'll and away last winte
the most grotesque falsehoods were circu
la,ed about me only 10 be completely re
tu'ed when returned and went upon tn
witness stand before a properly consti
ui,ed judicial tribunal No account wa
taken OF the fact that I was in New Yor
for months ready to take the stand bcfor
A. .ia xt,,A inxA Ina ,,,,tt so<
yet | was held up from these sources a
almost a fugitive.
II 10 also because these false reports ten
10 inJure the fair name and credit OF the cit
and NJ its government that ! have decide,
to warn the public against placing an
tfedence in them.
Perhaps the first thing the public woul
like to know is that notwithstanding all IN
talk not dollar OF the city's money has bee
.os' and that not a dollar is in jeopardy.
With Robins story as a basis it is sud
denly discovered that a syndicate ora sso
taton OF men who we're said to have IN
friendship had been borrowing largel
rom certain banks in which city money va
deposited and the coincidence is said
exist in some nineteen cases.
That all Of these banks were city depos
tories long before my time is CAREFUL
ignored. as is the fac, that in some OF III
administration than formerly. notwiti
standing that the average bank balance
o. city money in 1910 were far more tina
double those az any time in the citys hi
tory. On March q. 1910 there was bon
sale and $50 900 900 came at once into III
treasury. The high water mark was abo'
Tl 800 .o0 on March II. 1910, and the averaH
balance for April May and June OF that yes
was over S0cOo 600 | protested again,
maintaining these vast balances. II
money had 10 be deposited. lt was distril
uted among upward OF hundred banks an
trust companies. Very few banks or tru
companies in the city failed to solicit d.
rosits. This was done through the
onicers. directors. depositors. stockholder
newspaper men and friends, and l doul
NOT that many OF them were borrower
although | knew nothing OF II and il WI
none OF my business 1t would have bee
dlfcult for any man or group OF men
lave borrowed from banks that were n
city repositories: indeed, II would be mo
OF a coincidence 10 find bank able to ioi
any considerable sum that was not ci
depository
The public has read and heard much abo
me moneys deposited in the Savoy Tru
company which are said to have bee
loaned 10 Mr.. Cummns or his associate
nls nsinuated that the deposits were MAJ
Wv me lof 'hat purpose or upon some su'
understanding. or that ] knew that th'
taa been or were to be so used. The fac
are II The Savoy Trust Company vi
snty depository before | became Char
lfrlan l. vas called the Italian Americ:
rus, Company until December l. IN
oh February /. 1910. II was redesignat'
Under its new name. ~ I did not know al
never heard that Mr.. Cummins or al
o tls associates had borrowed or intend
10 borrow any money there or that th
we're acquainted with or had any relati
Ni'h the Savoy Trust Company. 49, n
'et'' the PRESIDENT. had been codirect
WIN me- in the Broadway Trust CompaI
oh' knew him to be conservative m
o' ability and integrity. Il, The compar
through lis secretary by letters and int
views. had requested me to make deposi
~ Mr. Hammerling. one OF the directt
'to testified before tho Grand Jury. "
ven known TO me and had also request
ms 70 muse deposits.
Nr Hyde submits letters from Hal
h'eFl!ns dated March 10 and rs and June
1910 soliciting deposits. There ia also
Nt"9 from Secretary Bauer OF the tr,
company written in March saying III
an earlier deposit Of $50 900 had been
uuced ~ $4,000, although the compa
haa $4,000 city bonds on deposit with I
Ramb'rlan as security and had offer