The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-06-28
RYAN HAS STAKED
ALL ON EQUITABLE.
Walter Wellman Tells Some
Secrets Learned From
Powerful Finance

6 . s = ; +
Secrets Learned From
Powerful Finance
Especial to The Times Dispatch.)
CHICAGO, ILL, June 27.-1n his third
letter to the Record Herald on the Equl-
table situation Walter Wellman SAYS:
Thomas F. Ryan is the greatest plum
ger in town. He stands to make or
break on this Equitable deal. It is u
toss up as to which 1t is to be-
This was the statement made to me by
one Of the most powerful leaders Of 1.-THE
financial world-a man who knows Mr..
Ryan and his career and character thor
ioughly, and to whom the inner secrets
Of the financial district are an open
book. 81 ri
Mr.. Ryan's plans and hopes are thor
oughly understood What he aimed to-
do in this venture was to raise himself
from second or third place In the world
on finance to the very first rank. He
wanted to teach the small but alluring
8em!nence .on which stand the high and
mighty -Rockefellers. James Still
man, j. Pierpont& Morgan, T.. H. 5Harrl-y
man, u George Gould. Henry H. Rogers.
Jacob schiff and August Belmont MI
SS II he could do this at n jump it wa
worth g. 900. It warranted the risk 81
losing outright that sum of money The
courts may place control sof the society
in the hands OF the policyholdersi and re-
tire the stock. leaving Ryan and his
s250o, 0O0in the lurch. On the other hand
these current troubles may blow over.
Paul Morton may be able to save the
ship IN that case Ryan stand to win
Transportation Secrets.
Mr. Ryan has not on ys thes general am
h,tion TO become a. king Sin the finan claii
world; Sbut he has dEf rite stind par tic
ular ambition dearersthan all 70 hers to-
his heart. This rs nothing else than
to combine all the transport atior, systems
OF New y ork city, into one vast trust
with himself at the head Iof Se rs
Sin his amazing career there are two
central facts. One. is the extrao itiy
ability and energy Of the man, his gent.
us for money making, for the peculiar
promoting and combining activity which
has marked the last decade not only
In New York, but throughout the world.
The other is the use OF political power as
the base the folcrum. Of all this OPP
CREATIONS 81 in corporations and finance.
Ryan was the rlght-hand man, the
5understudy Of the late William G. Whit
eny. The foundation OF Mr. Nhitney's
fortune was his political power. Richard
croker Tuleu 1870 " ts'A'.-''
C.gWfitney ruled Croker. Much that mas
seemed peculiar or inexplica BILE In poll
tics, state and national, during the last
fifteen years, embracing the Grover
Cleveland regime in the Democratic par
W and the country, will appear simple
when q referred back to the Whitney
Croker alliance, currently but half IN
aderstood. ss
MI. Ryan's ambition to be king Of
transportation In New YORK mas one
nrac tical 3 and we'll nigh exceeding val
,,nhle asset. n What William g. Whitney
was to Croker Thomas Fortune Ryan IS
10 Murphy. Tammany is still hitched
A "a tho street car. Murphy from all ac-h
counts Ia getting wealth as fast3&as
Y croker did. Whoever seeks 5favors IN the
transnortation line in New York must
reckon withTammany. That means ne
must reckon with Ryan. ne secret OF
Ryan's mastery OF MURPHY 70 as
much a mystery as was ne seG ~.
] OF Whitney's dominance 81 GiYAe' v -
the fact remains. III /. y. &, !, <
y M ~ n,any is not as absolute as It was.
7hs ia mmany5 asset is not worth as
t,,,ch relatively to Ryan AS Y was 70
Whitney. though II. is still worth a goHod
daal.% Hence Ryan's eagerness "
q ranrtten himself in other directions.
lie must gain other power y nan nan tnt y.
n,irely political. He must become :, pote si
IN the circles Of "high ntlanIe, Z, az
st lasInc of i the Eautable, That was ~ BID
s $40 ro ~ That was a purchase Of pres
tge or an attempt to purGn,hsn ~ a.
The man who asp.re sn, 10 bra n chg all Nav
transpo ~ tcsaoptaizing It's prodigous ow
II nckels into billion Of secqr *, n rs Y
power and prestige g neh Bnt there there. Is Al
ho, i 70 handle and AlbanYais Rerubll'
can oans Boss odel is now n ne he 81,
And hack q oao1 ir + ibany 10 Wall
, y toar 20 sstra,eht ana well travelled s
street 'If Ry aTe as manager behind the scenes
Denoeratc politics IN New yor Tnst ls 10
BE- ABLE 70 me en NE s the state capital
he must have a citadel Of power down.
t Is .I He must be able to buck up agans't
Harriman any s Gne s,st trust an inter-.
est j In tie Bank Of commerce, control = ro
Of seaboard aetlytY, II ,yan selmo nIs
etc. we're net eh on gyyal Roths.
nhIlds hack Of him. was stronger; Harr.
man withhis mastery Of the ra'iway X q q
half the area, was MI mi " he
ss wGl os add ht the fEsaHutabe 70 his strngtha
Equitable withits subsidiatrXl eompan1ies,
st assets IA m q yarent surplus
Hts a%s Ms coa Hyap drew Hf lis s
mora mora than a majority Of the capital stock
OF 81 the Multable- 100000 for 80 shares
OF stock, which by law can n net = h,m ony
ss,bit From this standpoint 1t was q good
fransac tion an Investment in prestige
1 As to whether ~ is likely to prove, n, g
ana and its policy-holders. hat is another
story. 1T ! is not necessarily o. bad thing.
There are many Indications that It may
Paul Morton, as a personal and charac-
ter IA ctor, youched FOR by the President
Of the United States, Is INVOLVED, So ale
a former president Of the United Sta tes-
Politics and big persons come into this