The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-12-09
JEROME CALLED UPON
TO BEGIN PROCEEDINGS
Thomas F. Ryan, Who Bought the Hyde Stock,
Refused to Answer Questions
H. Hartman Who Tried to Get Share of the Holdings A.
Legged TO Have Made Threats-Ryan Declined 10
Repeat Words Used by Hartman.

Odd you tell him why?
Mr.. Ryan-My principal reason was
that | wanted to make this trust deed
in my own way.
Odd You tell him that
Mr.. Ryan did
Q.-What did he say to you?
MIR. Cravath-I advise that you are
not required to answer, Mr.. Ryan
Mr.. Ryan-The same answer, AIr
Chairman.
The Chairman-Mr. Ryan. the com
mittee does not want you 10 think that
it is seeking to be oficiOus in the mat
ter.
Mr.. Ryan, know that.
The Chairman-It thinks you per-
formed a great public service and is
only seeking TO get YOU TO complete
that service.
Mr.. Ryan, still feel that / should
not be required TO answer.
Again Ordered to Answer.
The Chairman-The committee di-
reefs you to answer the question which
is asked in regard to what Mr. Harri-
man said TO you. Do YOU still refuse?
Mr.. Ryan, stin refuse on advice of
counsel
In reply TO further questions bearing
on this subject Mr.. Ryan said the re-
latons between Mr.. Hartman and him
self were quite strained for several days
and that the upshot Of several interviews
between the two men was thar Mr.. Ryan
told Mr.. Hartman that he intended 10
carry out his original plan regardless OF
what he or any one else might do. Mr..
Hartman would have taken any part OF
the stock which he could have got. said
Mr.. Ryan. The witness again declined
to answer when he was asked whether
I In rsFlfF Naa.a
that he might get into the trust which
was afterward created by Mr.. Ryan.
Request to Jerome.
Neither Mr. Hughes nor the members
OF the committee insisted any further
upon answers on this subject. but asked
Mr.. Ryan about other matters. Later
in the day, however, Senator Armstrong
made an announcement that the commit
tee had determined 10 transmit q cert
fled copy of Mr.. Ryaus testimony 10
District Attorney Jerome with a request
that proceedings be instituted by him TO
punish Mr. Ryan for refusing to answer
the questions.
This course IS rendered necessary, %
said Senator Armstrong. by reason OF
the fact that the committee has no sum-
mary power TO punish for contempt while
, the legislature is not in session.
Counsel for Mr.. Ryan gave out q state
ment tonight IN which they stated that
1 n the committee had decided 60 refer
me HidlltI TO Tie ObsificL attorney Lucte
should be no difficulty IN obtaining a
ruling as to whether or not Mr. Ryan
rs compelled 20 answer the questions,
Why He Bought the Stock
When Mr.. Ryan was asked why he PAID
nearly 5000 a share for stock that paid
only ! per cent dividends he said he did
il to avert liquidation that would cause
the greatest panic this country
had ever seen if the Equitable society
were forced into the hands of q receiver
( by the situation prevailing when he
bought the stock. Ffightful losses, he
said, would have followed such a re-
Ownership, and his own large enterprises
would have been seriously affected. TO
I take this company out Of the hands i'm
which II was going TO destruction, and
/ give II clean. economical and efficient
management and restore its prosperity for
the benefit OF all honest interests. Mr..
Ryan testified. seem 10 him 10 be worth
/ doing. and that was one OF his reasons
for buying control of the property. Mr..
Ryan declared that he regarded as ideal
the plan now in operation by which a
| board of trustees votes the stock he
1 bought and that he has promised to make
the trust perpetual and intends To do So.
If. however, the Legislature so besides,
h win not object. he said. 10 the cleo
/ tiOn Of a majority Of the board of di-
rectors by the pOlicyh0ldeTs direct