Multistring vertices and the overlap identities which they satisfy are exploited to understand properties of hyperbolic Kac Moody algebras, and E_1_0 in particular. Since any such algebra can be embedded in the larger Lie algebra of physical states of an associated completely compactified subcritical bosonic string, one can in principle determine the root spaces by analyzing which (positive norm) physical states decouple from the N-string vertex. Consequently, the Lie algebra of physical states decomposes into a direct sum of the hyperbolic algebra and the space of decoupled states. Both these spaces contain transversal and longitudinal states. Longitudinal decoupling holds generally, and may also be valid for uncompacitified strings, with ...