New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-10
IGNORANT, SAYS HYDE,
Of CUNM|NS LOANS
Chamberlain Charges Con
suiracy Is Behind Misrepre-
sentations" Against Him.
TIRED OF BEING ASSAILED
defending His Administration,
Declares No City Money Has
Been Lost, Nor Is Any
in Jeopardy.


.,sd a long statement Yesterday. in
nbich for the first time he takes cog
-;,o,ce Of the aCcusative stories which
have grown up around his friendship
nth william J. Cummins. of the Car
,eeie Trust Company.
There is a malign political conspiracy
hAhind these reports and msrepresenta-
,,ons." saws Mr. Hyde. and though he
Rae I'D to this time. by the advice of
,,s counsel. Samuel Untermyer, re-
Grained from answering the reports. he
has now grown tired Of sitting by while
his reputation is being assailed in the
dark
With passing reference TO the famous
,,uise OF the Stop-a- While in the Flor
,se Everglades. as the time when |
uas IN and away last winter" Mr.. Hyde
goes on 10 give q statement of the rela-
,ions between the Northern Bank and
the City Chamberlain's office. when
Sums I'D the statements and letters pre-
,jouslv given out on this matter by Mr..
Hvde and Controller Prendergast.
His statement then. after limiting that
Tho deliberations and testimony before
the grand jury which is investigating
tho Carnegie Trust tangle are not as
sacredlv guarded as they should be.
makes fat denial Of any knowledge OF
tho Cummins syndicate loans. which 1t
has been learned were secured from
hanks in which city deposits were made.
The CITY chamberlain declares that
"verv few banks and trust companies
failed 10 solicit deposits of city money
and that ne had no knowledge OF the
manner in which that money or other
funds If the banks which received such
deposits we're loaned out.
specifc as to Savoy Trust.
~ makes his denial Of such knowledge
sneciic in the case of the Savoy Trust
COMPANY. and as 20 the augmented city
deposit in the Hungarian-American
Bank. coincident with a loan ~ that
bank 10 tn, Cummins group. Mr.. Hyde
savs he has looked the matter mp. and
found that on the day he made tnat de-
poit in the Hungarian American Bank
he made deposits of city money in nine
teen other banks and trust companies.
The average bank balances of city
money in 1910. says the Chamberlain
we're far more than double those AT any
time in the citys history. reaching
high water mark of SCI, ,5OO.e0 on March
- of that year. following the bond sale.
The average bank balance during April,
MAY and June Of that year. he con-
tinues was over SJo.0O0.Ooo.
MIR. HYDE begins as follows:
By the advice Of my counsel. Mr.. Samuel
Uutermyer. ! nave up 10 this time reluct-
en,lv refrained from reply ing 10 the IN
spiIed reports that are being announced
from day 10 day as representing testimony
given before the grand jury affecting my
lieve that The grand jury room is being
thus invaded and its secrets 1oled out daily
for publication. in violation Of law, but the
stories purporting 10 emanate therefrom
are so persistent and circumstantial that
10 other conclusion is possible.
There is a malign political conspiracy
behind these reports and mlsrepresenta-
tons. and ] have grown tired Of sitting BY
whilst my reputation is being assailed in
the dark The reports and the daily re-
iteration Of them IN one form or another
can nave Dut one puipoSe-to lnHuence an"
Prejudice the grand jury and discredit me
IN the public mind The attempt Is COW
ard,y and underhanded II is Impossible
for me 70 reply IN detail since ! have no
right 20 believe that the secrecy Of the
grand jury investigation is being openly
and shamefullv defed
When | was i'll and away last winter the
most grotesque falsehoods we've circulated
about me-, only To be COMP. e:ely refuted
when | returned and went upon the witness
stand before properly constituted Judi
cisl tribunal No account was taken OF the
fact that ] was in New York for months
ready 10 talk oefOre the legislative inves-
ugaung committee yet ! was held up from
these sources a. almost q fugitive
IL ~ also because these reports tend tC
iniurs the fair name and credit Of the city
and ~ its government that ] have decided
10 warn the public against placing any
CTedence in them