The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1905-07-13
RYAN A VERY BAD
MAN SAYS LAWSON
Part Of "Frenzied Finance" Au.
thor's Speech Is Devoted
to Mr. Ryan
He ALSO FLAWS MORTON
Ryan 10 Declared 20 De q skinf'int 81
the Worst Order Who 10 Not
Particular How He Makes
and Keeps Money.

Ottawa. Kan. July i2.--onc OF the
greatest features OF Thomas W. Law
sons speech here Saturday was his
bitter attack on Thomas r.. Ryan. head
OF the Equitable Life Assurance so
ciety. and Paul Morton, chairman Of
the board OF directors. He said:
loudly in my story "Frenxied Finance'
that the ofticers and directors OF the
Equitable Life Insurance company got
alarmed. and two faction. began grab:
so as TO put the evidence OF past rob.
berries out OF sight before the people
closed In on them. They made such n
titles were compelled TO take cogniIance
OF the scandal. and then In their panic
such n condition OF rottenncss was un-
to straighten out the muddle. II was one
OF those sharp crises which even the "sys-
tenn IL sometimes unexpectedly confront
cd with. and something had 20 be done
whose 500. 10000 OF savings were involved.
How did they deal with this terrific situ-
ation-their bars all down. Wall street at
rising in their WRATH Did they so out
and select some man OF unquestioned
problty and character to rehabilitate the
met at night and next morning Il was an
nouuccd to the world that the whole AZ
fair had been properly. fairly and squarely
and mat the people s,Y Sss
surplus. for one Thomas r. Ryan had pur-
chased from the dicreditcd Hyde I'VE hun
drcd and two shares OF the Equitable
stock for two and one-half million dollars
and that he would see that no one else
got away with the hundreds OF millions
OF your savings which the great Equit-
these i've hundred and two shares for
which Ryan was willing 90 pay two and
a half million are only entitled. legally.
and arc actually worth, at the outside. not
more than 100000. As his representative.
AIR. Ryan appointed Mr.. Paul Morton.
the rcbatc-giving vicc-prcsidcnt Of the
Atchison railroad. TO manage the corpo-
ration and TO see 10 Il that you policy
holders arc given a square deal. Who are
these two men 90 whom you are asked &c
dren and mothers In cases OF your dcathf
Personally know neither OF them, and
In their Individual capacity I am told they
a generous and whole -souied gentleman.
who gives back 90 the people In charity,
just as other good fellows do a mill on
each OF the dollars he takes from the pco.
You may nave read what n certain Bal
timorc banker % high reputation and
standing. John SHELTON Williams. prcsi-
dent OF the Seaboaru air line, has been
telling about the manner In which he OBJ
tanned control OF this important railway
system for a comparatively small sum OF
promises and asr:emen,s and other plcS
ges he had held on TO Il. bleeding u TO the
extent OF &.ooo.ooo by his clever manipula-
ton.
II IL not 10 many years ago that this
Thomas J.. Ryan, soon after putting to-
gether the various Eub-companies which
form the tobacco trust. had been baked
IN hoating some hundred odd millions OF
bonds AMI stocks on tho public at three or
four times their real value and was
pinched for ready money. Al about thi.
time New York bank examiner pounced
panies Among the securities of this cor
poraton. the State Trust company, was
a note signed by one Dan Shea for s. 0oo.-
20. As IL was criminal offcnse for tho
never mind how good the collateral. over
a small fraction OF the amount OF this
note, the examiner called In the officers
and directors and gave them n choice OF
telling what they knew about Mr.. Shea
or summoning them before the grand jury
Thcreupon Mr.. Ryan boldly announced
that Shea was his lt-year.old office boy on
1850 week This r. the same Thomas =.
Ryan who has been called In rs the savior
OF the sc.ooo polcyholders OF the Equitable
With It's tto,ooo.ooo odd OF accumulated
funds.
As for Paul Morton. YOU Of the west
know more about his morals and methods
than do. for he ran your Atchlson road
ana when he was testifying before the in
terstatc commerce commission as TO ia.
rebate evil. calmly admitted IL was a bad
practice. but he allowed II because ne had
TO do as the Romans did. I don't know
myself just what Romans do. hut as said
before, President Roosevelt said Morton
was all right. aud that's good enough for
me. but whether the president meant that
MaA all right enough TO run the epO.D0
Equitable policy holders tl2 millions NJ
lieutenant for the frcnzicdlest OF all
frcnzled financiers In the home OF 'frcn-
Eicd finance IL something I must leave
TO our good president TO answer