The evening world., 1905-12-08

panies-of course 1t would not be II
| the
To Perpetusts Trust
@. OF course you appreciate the fact
that this trust would terminate In iivt
years, and In the event OF yc1r death
nhere would be no machinery for IT.
continuance? A.. / Instructed or re-
dnested Mr.. Cravath. nv counsel, "a
, work out nlan by which the trust
viii be perpetuated How far he has
got N ] do not know. We have
one. moment? Nv Intention IL that
shall never exercise the voting power
OF that stock nor any heirs cf mine.
y, but however clear your Intention
may bo, you. Of course. realize the Diff
Guilty OF imposing your individual will
upon thQse who may succeed your A.
l. recognize It.
@. And the fact that stock ownership
OF II controls the destinies OF an insur-
ance company may ho pregnant with the
evils that were Illustrated under the
former condluons7 A. Well, that Is so
In all corporations, OF course
Q. You have spoken OF stock retire.
ment In your letter to Mr.. Morton, on
the basis Of reimbursement with 4 per
cent interest," You have not consid-
cred the question on any other basis7
A. No, ] have not considered II on any
other basis. OF course some basis ought
to be stated In matter OF that Kind.
q. But II the Legislature should think
stock retirement wise, II would not
have your personal ppposttion7 Al
have not considered that.
@ You are not In position to state,
O. After you had purchased tho stock.
was there any proposition 70 share the
70 answer that question:
A. think YOU ought to, Mr.. Ryan7
A. Mr. u. II. Hartman desired to share
the purchase with me, and refused 10
permit that
Said "No" TO Hartman.
Q. When was thati A. II was at the
time Of the purchase or Just about the
time OF the purchase. the next day I
q, was going TO ask YOU whether
Mr., Hartman had made you propo-
sition as II was stated In the press
that he had, and ask YOU why you
refused TO allow him TO share In the
risk which YOU took in buying UP this
stock9 A. / had made up my mind
that dd not want any persons IN It
beside myself; / dad not want to he
hampered In my plans In regard 10
and another reason was ! did
not think that anybody who had been
as director with amy OF
The large companies should have an
8. How long was II after you bought |
Mr. IIyde's stock that this mattar
sama UP with Mr.. Hartmann A. /
mink II was the day ! bought II.
q. Immediately after its announce |
nent? A. I do not know whether II
VAS Immediately after its announce
nent. rather think II was before II
'cS o. PubIielyf SH A Yes yes; IT, was be-
ore =. was publicly announced.
o. But after your. purchase was
,ompleted7 A. Yes, sir
0. Did you state to Mr.. Hartman the
round upon which you desired to han
lie the matter alone. A. | did,
ernlatfon this plan Of trusteeing the
tockY A 7 ala.
A Private Conversation.
yOu to- influence YOU to make the sele5
\ Influence me to make the sale7
@. To divide with him, yes7 A
What infiuence7
o. What ala ne say to you 10 In
lucnce you to allow him 70 share In
'urchase7 A, Why, I do not think.
dr. Hughes, I ought TO be called upon
y
or state a conversation I
lad privately with Mr.. Hartman.
Q. Well, You can state the substance
" 1t, II you WHIP A. i, do not think
Mr.. Cravath Qnterrupting)-1 viii just
tate, Mr.. Chairman, that feel bound
o say to my client Mr.. Ryah, that
While ne should testify most fully to
mat he did and what ne planned TO
., he cannot, unles he chooses 10 do
"a .un1tspt, I'll IA xaot.f..o4 - /
0 state conversations which Mr. Har-
imam or any other man had with him
mely unofficial conversations. Mr.
yan Is entitled 10 that advice from
a..
Mr.. Hughes: would say that I deem
he matter important in two respects.
n the first place, that the committee
nay understand the motive which may
ctuate those whosdesire to obtain con-
rol Of the stock OF the insurance COM
any and the proceedings which may be
aiken 10 acquire II; and, secondly, that
We may know whether there Is any
ruth In the report that there was any
uggestion that HE Insurance cosd.tIons
n this State would be investigated n
dr, Ryan did not accede TO Mr.. Harri-
mans request. I think that we should
lave full light upon the transaction,
md l hope that Mr. Ryan will feel that |
le can do another public service by
ldvislng the COMMITTEES fully.
A a,o.d e,.,..s..
sarstor rruv-ro yor -,..,, ~. ,hat
bot M ,,,itnsss. ~, Syu ,ya ~" ~ :" sLaS
or or anv ouestlon % wSIcb III III, =" al, % for
yith env nspsona,,ty s a. r NJ n,,rohasa uSEh % -
IA Eo,,itahia staei, a.. ir..e,,sa ,.,,,
~ ui.So'e iqYao9 S'o'A' iV'' ihs'ahDe' "'oh
Mr.. Craya4h-Tha, might ha a ra4har
road statement ana there are certain