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Show tiVDE ASKS TO COhRECT. . YESTERDAY'S TESTIMONY; HE EOMETS MANY DEALS Admits That He Had four Offers for His Stock, Besides That of Thomas f. Ryan; Story of the Mercantile Trust Company's Charter. i ODELL WANTS TO ANSWER HYDE. (i) () NEW YORK. Nov. 13. Former Gov. B. B. Odell. ' Jr.. today re- quested Chairman Armstrong of the insurance investigating commit- tee. to call him before the committee and give him an opportunity to testify under oath in reply to the testimony of Mr. Hyde, given before the committee. ft,.S)(i)ffi s BULLETIN. NEW YORK, Nov. 15. E. H. Har-riman, Har-riman, president of the Union Pacific and Southern Pacific railways, was called to he stand in the insurance investigation this afternoon. Mr. Harriman testified that a 5 per cent participation in the Union Pacific Pa-cific syndicate was offered to James H. Hyde, but Mr. Hyde said h - could not feign such a large thing, and that he would interest the Equitable 2fe. Mr. Harriman said he did not wsnt the Equitable in the syndicate unless bis confidence could be guarded. NEW YORK, Nov. 13. James Hazen Hyde was a witness today before the .Armstrong committee on Insurance investigation. in-vestigation. He asked to correct 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. Harriman and Mr. Frick. He was offered $5,000.-000 $5,000.-000 for his entire holdings and $2,500,000 for half of them. George Gould also made such an' offer, of-fer, but these were all declined because witness did not think one man should control the society. Gage E. Tarbell made an offer; said he had a syndicate ready to buy the stock. George W. Young also offered to buy M. Hyde's stock. These were all verbal offers. Story of Trust's Charter. ReaJing from the acts of IStiS, IS6rf and 1870. incorporating the Fire Proof Warehousing company and amending the act to change the name to the Mercantile Mer-cantile Loan and Warehouse company, j and subsequently in 1S75 changing the name to the Mercantile Trust company's com-pany's charter. He then read a bill introduced in-troduced by Senator Ambler In the Senate Sen-ate in March. 1904. to repeal all these acts and amendments. The effect of this bill if passed would have been to leave the Mercantile Trust company without a charter. Mr. Hyde neve made a statement denying that he or the Equitable Life Assurance Boclety had anything to do with, or any interest In the United States Shipbuilding Shipbuild-ing company or its securities. Bought and Sold Shares. On March 6, 1901, the Equitable Life Assurance society bought 2000 shares of the Lawyers' Title Insurance company at $174 per share, and two days later sold 1100 shares at the same price to George H. Squire. Mr. Hyde said he did not know of the sale, though he was a member of the executive committee, com-mittee, and did rot know that the stock was worth a great deal more a short aftsr. r. Hyde said fce sold to the society on October 13. A. 2S8 shares of this stock at J315 and that was the only transaction he had In the stock. The price was the market price at that time. . Brokers Picking Up Stocks. Stocks were bou ' u SM r, Hyde's account ac-count from WifWrrtson & Hqulre. but Mr. Hyde denied that he had bought from them r.nd said that no one had hi" power of attorney. He knew brokers were picking up this stoc k, but did not know it was being bought for any of his own committee. Some of the purchases, pur-chases, he said, were made for Thomas D. Jordan, but Mr. Hyde knew nothing about It ard never had any conversation conversa-tion with Mr. Jordan upon it. ! Taking Profits. After the change of name from American Amer-ican Deposit and Loan company to the Equitable Trust company officers of the Equitable Life Assurance Company society so-ciety were buying the stock of the Lawyers' Law-yers' Title Insurance company in the name of the American Deptoslt and Loan company and taking the profits on the stock. This was the first Mr. Hyde had heard of this transaction. Books in Confused Shape. Mr. Hyde said he could not remember that he had ever received any money or division of profits from George H. Squire and it would be difficult to refresh re-fresh his memory because his books have been in a most confused state since he left the Equitable Life. He did not know that it was possible for Squire to sell stock to the society without with-out the knowledge of the executive committee, but thought it could be done by an arrangement with the president. Mr. Hyde said he was unable to ascertain as-certain who had his jower of attorney while he was abroad, because when he returned the papers' wore always destroyed. de-stroyed. Embarrassing Situation. Senator Armstrong aked the witness if an obligation purioi ti::? to have been made at a time when Mr. Hyde was abroad should turn up now. how he could determine if it was a legitimate tiansaction. Mr. Hyde replied: "I don't know: it would be very embarrassing." em-barrassing." Question of Expense. The amount o? expenses Incurred by Mr. Hyde on behalf of the society wu- no; gone into. Mr. Hughes announcins that this matter was covered In th-report th-report of Superintendent Hendricks, and it was not his Dunxjse to go Into matters so covered because of the limitation limi-tation of the committee's time. Mr. Hyde added to his statement in that report an explanation of the tare used in making up the report of these expei. vs. He said that he woald hav.-I hav.-I en ?l;id at any time to have gone ovc -these expenses with any of the members mem-bers of the executive committee, but h.-was h.-was n-ver asked a question about them, nor was he ever asked for an Itemized account of them. |
