Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1905-12-14
RYAN To ANSWER
ALL QUESTIONS
HIS ATTORNEYS HAVE ADVISED
HIM TO DO so.
NEVER REPAID LOANS
President Scott of Providence SAVINGS
Life Assurance Society Testjhss
That Frank f. HadIey, Who 6or,
rowed $t62,ooo and That Company
Realized Only $4,000.

NsdilZeo Ohly SSO,UOu,
New York, Dec, 1.-THE insurance
investigating committee appeared last
night 70 have succeeded in its attempt
TO make Thomas +. Ryan divulge what
r., II, Hartman said or threatened II
do to influence him to divide his con.
troll of the Equitable Life District
Attorney Jerome who was asked by
the committee to take steps to punisa
Ryan for refusing to answer the Ques-
tons about Hartman, reported to the
committee yesterday that he has IN.
formed Ryan's counsel that Ryan ougR,
to answer, Jocome also wrote the
committee that he believes Ryan will
answer il brought before the commit
tee again. Ryan when on the witness
stand last Friday testified that on thA
day he got possession of the EquitablN
stock, Hartman asked him for share
of the stock. What Hartman said to
him to induce him 10 part with that
stock Ryan refused 10 tCll the commit,
tee, The committee asked Jerome TO
punish him. Al the conclusion OF yes
terday's hearing Senator Armstrong
made public letter from Jerome III
which the district attorney Expressed
the opinion that Ryan would answer II
recalled. 1t was not announced when
Ryan would be recalled, but ii is pro
sumed he will take the stand today or
tomorrow.
Advised to Answer by Counsel.
Guthrie, CraVath and Henderson
counsel for Ryan, gave out a statement
that they have advised Ryan that he
should answer the questions and that
he is prepared 10 do SO whenever re-
called by the investigating committee.
Never Repaid Loans.
The committee was engaged part OF
the time yesterday in inQuring into
the affairs OF the proyidcnt Savings
Life Assurance society OF New York
1t was brought ont by questioning that
Edward w. Scott, president OF than
company, that when Frank F. Hadcy
of New Bedford, Mass, secured controi
of the company in 1896 he borrowed
100000 from the company on his col,
lateral notes TO pay up for stock OF
Insurance company, Scott testified
that Hadley never repaid those
Loans and that ne insurance company
realized only $4,000 on the sale of the
collateral. The companies in which
Hadley was interested failed ana
shortly afterwards he died
ut cost the Insurance company lust
$4,000 for Hdalcy to get control of
it, said Hughes.
Besides the 100000 Hadloy had Dor
rowed 100000 TO pay for the Assur-
ance company stock and had put up
that stock as collateral. Scott test
fed that he bought that stock at auc
ton after Hadley's death and borrowed
the amount to DO it from the New YOrk
Security and Trust company. John A.
Mccall, president OF the New York
Life, Scott said, stood back" of him IN
the negotiation OF the loan
Other witnesses have testified that
the New York Life controlled the Sew
York Security and Trust company
After he got control of the company.
Scott said, John A. Koran, brotherln
law of John A. Mccall, was made
comptroller Of me Proyident Savings
Life at $4,000 year. Scott testified
also that his -four sons and a nephew
are employed by the company of which
he is president.
Discuss Uniform Insurance Laws.
Washington, Dec. 12.-Insurance
Commissioners Drake of the District Of
Columbia; Carroll of Iowa, and O'Bren
Of Minnesota called on President
Roosevelt yesterday and discussed The
subject of uniform insurance laws for
the various states Commissioners OF
insurance Of many states have been 10
session here and have decided 10 make
an earnest effort to secure the enact.
ment by various state legislatures Of
uniform law regulating insurance.
The commissioners informed the prcsi
dent that Mr.. Drake had been author
lied by the convention to call a meet
ing of governors, attorney generals
and insurance commissioners February
next in Chicago At that meeting II
is proposed TO discuss the question u
uniform state law on insurance and to
induce, If possible, a concerted action
in favor Of the enactment Of such legis.
lation. The president expressed hts
hearty svmpathy with the movement