The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-12-12

ONE to Institute Proceedings Against
Mr.. Ryan.
New York, December S.--The legis-
Iative committee which is investigating
life insurance conditions today deter
William L. Jerome a request that hel
institute proceedings against Thomas
+. Ryan, tinancier and owner of the
majority of the stock of the Equitable
Life Assurance Society, to punish AR.
Ryan for refusing to answer questions
before them. Mr.. Ryan had refused
when asked what +. II. Hartman,
president Ut the Union Pacific and
Southern Pacific railroad companies
had said to him when Mr.. Hartman
tried to- induce him to share his con-
, troll OF the Equitable Society with Mr..
.@tripan.
- Ryan was asked whether Mr..
Nriman had threatened that results
disastrous to Mr.. Ryan'S interests
would ensure or if Mr.. Hartman had
told him that some action would be
taken by the state legislature or my
officer of the government unless Mr..
Ryan consented t o share his stock with
bin.
Acting on the advice OF his attorney
Paul ID. Cravath, Nh. Ryan declined to
answer hose questions, although Sen
ator William w. Armstrong, chairman
Of the committee directed him to do
81 air. Ryan, however, did answer
Ahuestion by saying that Mr.. Harri-
R4n did not tell him at that time there
woild be Il Legislative investigation OF
the life insurance 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 II. Hyde 81
100000 for 5O2 shares Of the total LOO
shares Of the society.
After o lad bought that stock
was there any proposition to share il
with you?' asked Charles f. Hughes,
counsel for the committee.
Am | obliged to answer hat ques-
tion:" asked Mr.. Ryan. .
Il think you ought to. Mr.. Ryan,
said Mr.. Hughes.
Mr.. EH. H. Hartman desired TIC
share the purchase with me, and re
fused TO permit that" replied MI
Ryan.
Mr.. Ryan said he thought Mr.. Har,
riman made his request on the day tina
MI. Ryan bought the stock, and before
the purchase was publicly announced.
Il do not think Mr.. Hughes, | ough
to be called upon to answer II question
like that-to characterize or state ;
conversation | had privately with MI
Hartman" said Mr.. Ryan.
Paul d. Cravath interrupted by say
ing TO the chairman:
AE'I feel bound TO say 10 my client
@Ir. Ryan. that while | should testify
most fully 10 what be did and III
MANNED to 90. he cannot, unless IL
chooses 10 do so voluntarily, be requir
ed 10 attempt to state conversation
which MIR. Hartman or any other ma
had with him
To this MI. Hughes said:
Il deem the matter important IN NV
ASPECTS. In the first place that tn
committee may understand the mot1V'
which may actuate those who desire L
obtain control of the stock of the lnsul
ance and the proceedlHS
which may be taken to acquire IL, an
secondly that we may know Whethe
there is any truth in the report tina
there was any suggestion that life III
surance conditions in this state woul
he investigated if Mr.. Ryan did not &C
cede TO Mr.. Harriman's que
think thai we should have full hgh
npon the transaction, and / hope tina
Mr., RYAN will feel that he can do an
other public service by advising Tn
committee fully
Mr.. Crayath said that MI. /!
would testify freely as to facts, pu
that he was not required to state VIVA
AR Hartman said to him in prlvat
conversation.
Mr.. Ryan," said Senator Arm
strong, 1.-The committee directs you
answer the question"
The following colloquy ensued:
Mr.. RYAN, will answer it so ia
rs to state that | refused to share tn
purchase with Mr.. Hartman.
What did Mr.. Hartman say TO 70
in connection with the matter?
Mr.. Cravath-"My advice is that yo
YOU are not required to answe tina
question"
&c chairman-''Do you refuse!'
~ Ryan-'I refuse TO answer o
the advice of counsel.
did Mr.. Hartman say tnat thei
would be any result injurious to yot