New-York tribune., 1905-06-10
WALL STREET GUESSING.
Speculation as to Belmont-Ryan
Financial and Traction alliance.

Although the decisive developments In the
affairs of the Equitable did not become gener-
ally known until early evening, the important
interests of Wall Street were speedily apprised
of them and were quick to draw conclusions
The first feeling was naturally of great re-
lief as it was commonly agreed that salts
factory solution of the Equitable's troubles had
been arrived at which should have an imme-
diately beneficial effect on the stock market
and check the feeling of uneasness which the
progress of the Equitable controversy has
caused in the minds of investors and policy
holders the country over
The entrance of Mr.. Ryan and his associates
into the Equitable as owners of a controlling
amount of it's stock, although their holdings are
to be lodged with a voting trust is taken to
indicate perhaps a practical alliance between
that company and the Mutual Life. The Nor
ton Trust Company. OF which Mr.. Ryan is vice
president and the active head, is closely identi-
fed with the Mutual.
Another important connecting link between
the two great life insurance companies is the
National Bank of Commerce, of which Richard
A McCurdy, president of the Mutual Life Insur-
Company, Mr.. Ryan and James H. Hyde
are vice-presidents, and the president of which,
Valentine P. Snyder, is a director and member
of the executive committee Of the Equitable Life
Assurance Society, as we'll director of the
Washington Life Insurance Company. which Mr..
Ryan and his friends took over early in the
year, the old management having been retired
a consequence of the investigation by the
Superintendent of Insurance, which had dis
closed gross irregularities.
Another suggestion arising from the choice of
Mr. Morton as chairman of the Equitable re-
lates to the traction situation in this city. Au-
gust Belmont. as president of the Interborough
Rapid Transit Company. has been actively COM
peting with Mr.. Ryan, the controlling power in
the Metropolitan system, for the privilege of
building the subWays which have been de-
cided upon by the Rapid Transit Commission;
and the fact that Mr.. Belmont a member Of
the committee which presented the candidate
for chairman Mr.. Morton, who had only a week
or two ago announced that he about to
become associated with Mr.. Ryan in the prep
aration for endeavoring to obtain the subways
was taken / many to signif- that Mr.. Belmont
and Mr.. Ryan had arrived at general under
standing which might include the working out
of the often predicted combination of all of the
traction lines of Northumberland surface
and underground
John B. Mcdonald Mr.. Ryan's associate in
the traffic plans. said that he hardly knew Just
yet what effect Mr.. Mortons leaving them would
have on the subway enterprise. He thought
that no successor to him had been discussed
and could not suggest any one offhand
"Does this mean that truce has been estab-
lished between Mr.. Ryan and Mr.. Belmont in
the transit field?' asked
81 don't know that there ever has been any
especial bitterness replied the contractor
Anyway, it is obvious that can't say anything
at this time"
August Belmont refused to discuss the
c11h{e {ect