The Montgomery advertiser., 1905-12-09
BREEZY TIMES
 BEFORE COMMITTEE
Owner of Equitable Acts on
 Adv.ce or hlS Attorney.
Chairman Armstrong Endeavors t' Persuade Wltness to Tell the Full Story of Harriman's Effort to @Get In On
 the Deal.


 committee which is investigating life insurance conditions today, decided to send to District Attorney Jerome a request that he institute proceedings against Thomas F.. Ryan. financier and owner of a majority of the stock of the Equitable Life Assurance Society, to punish MT. Ryan for refusing to an- swer questions asked about what E. H. Hartman, President of the Union Pa cffic and Southern Pacific Railroad Companies, had said to him when MT. Hartman tried to induce him to share his control of the Equitable Society with Mir. Hartman.
 MT. Ryan was asked whether MT. Hartman had threatened that results disastrous to MT. Ryan's interests would be taken by the State Legisla- ture or any officer of the Government unless MT. Ryan consented to share his stock with him.
 Acting on the advice of his attorney. Paul D. Cravath. MT. Ryan declined to answer those questions. although Sena- tor William B. Armstrong;, chairman of the committee. directed him to do so. Mir. Ryan, however, did answer one question by saying that MT. Harri- man did not tell him at the time there would be a legislative investigation of the life insurance business unless he gave up part of the Hyde stock.
 
 Mir. Ryan had already testified that he secured control of the Equitable So- ciety by paying James F. Hyde $e,600,- GOO for 502 shares of the total 1000 shares of the society.
 After you had bought that stock was there any proposition to share 1t with you?" asked Charles E. Hughes, counsel for the committee.
 Am I obliged to answer that. ques- Riot1 asked Mir Ryan tH T think you ought to, MT. Ryan" said Mir Hughes.
 MT. F. H. Hartman desired to share the purchase with he and I refused to permit that" replied My. Ryan.
 Mr. Ryan said he tho6ght Mir Harri- man made his request on the day that Mir. Ryan bought the stock and before the purchase was publicly announced. What did Mir Hartman say to you to influence you to make the sale?'
 q do not think, MT. Hughes, ought to be called on to answer a question like that-to characterize or state a conversation I had privately with MT. Hartman" said Mir. Ryan.
 Paul D. Cravath interrupted by say ing to the chairman: T feel bound to say that my client, Mir. Ryan, while he should testify most fully to what he did and what he planned to do, he can not, unless he chooses to do so, be re-
 
 tions which Mir. Hartman or any other man, had with him."
 Matter Deemed Important.
 To this MT. Hughes replied: T deem the mater important in two as- poets. In the first place, that the committee may understand the motive which may actuate those who desire to obtain control of the stock of the in surance company and the proceedings which may be taken to acquire 1t; and. secondly. that we may know whether there is any truth in the report that there was any suggestion that life in surance conditions in this State would be investigated If MT Ryan did not ac- cede to MT. Hartman request. I think that we should have full light upon the transaction and I hope that Mir. Ryan will feel that he can do an- other public service by advising the committee fully
 MT. Cravath said that MT. Ryan would testify freely as to facts, but that he was not required to state what Mir. Hartman said to him in private conversation.
 Mir. Ryan" said Ssnator Armstrong. ''The committee directs you to answer the question"
 The following cclloquy ensued:
 MT. Ryan-.I will answer it so far as to stat that l refused to share the Nurchase with Mir. Hartman"
 What Gid MT. Hartman say to you in connection with the matter?" MT. Cravath My advice is that you are not required to answer that ques- tion.'
 Tho Chairman-"Do you refuse?"
 Refuses 10 Answer.
 MT. Ryan-I refuse to answer on the advice of counsel.
 Did Mir. Hartman say that there would be any result injurious to your interest in case you refused to admit him to share in the ownership?"
 Mir. Crayath-I give you the same ad- vice, Mfr. Ryan. that you are not re- quired to answer that question.
 Mir. Ryan--Same answer.
 At the order of Senator Armstrong the last two questions were repeated to MT. Ryan, who again refused to an- swer. saving he did so "on advice of counsel"
 Mir. Hughes asked the following ques- tions:
 Did Mir. Hartman say to you there would be an investigation by a com mittee of the Legislature and that steps would be taken to have an investiga- tion by committee of the Legislature of New York of insurance companies if you did not permit him to share in the ownership?'
 MT. Cravath-The same advice.
 Mfr. Ryau--He did not say that
 Now did he say that any action on the part of the Legislature or any off cial or officer of the Government would be taken in thS event you refused to accede to his request?"
 Mir. Cravath--I advise you not to an- swer that question.
 Mir Ryan-I refuse to answer on the same grounds.
 Now. Mir Ryan, 1 think you will be entirely discreet to say what you said to Mir Harriman."
 Did Not WaDS Partners.
 Mir. Ryan-Well. I told Mir. Hartman I wanted to be free and did not want any partners iL the transaction.
 Did you tell him why?'
 MT. Ryan-My principal reason was that I wanted to make this trust deed my own way.
 Did you tell him that?'
 Mfr. Ryan--I did.
 "What did he say to you?"
 (...a...aal ad ..a.