New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-07-29
MIR. RYAN AND THE EQUITABLE
From The Val street Journal.

rFom me wall street Journal.
Reasons have been named why hostile criticism
Of the Equitable should give place criticism that
Is constructive and helpful The reasons would
place in the reorganization Of the Equitable show
new management to cut out the old corruption and
to establish the society a clean business basis.
Ryan would mean little more than a transfer from
p rdn e and foolish Gung man to bold t
aysa INTENDED to use the society and its i
schemes, rather than promote the interests OF it's
p Tsf While Il may on the whole, be
he has no large of moral responsibility. than
doned,just as it is safer, to stand on a powder
magazine than on g quicksand-the change from
HYDE to Ryan would not amount to much If this
i Is not all We are not greatly concerned with
saDs trying 10 50Ye 5ho oc das wy this noted
ate Of the school Of WSifnoy master Of the great
game Of financial manipulation concerned in many
stock the limit of whose lawful dividends is only
ST heg IT 90 @ e16ry motive except the
one which is most creditable to him. Mr.. Ryan has
reputation for doing something better than the
mere making OF money? we should imagine that
worth even as much as s2.5OOO00 to rescue the
and especially that part Of it represented by the
100000 900 Of securities Of the companies in which
would De produced by such a disaster. and in ad-
SOes g ahd the the 90e T put the policy
Mr.. Ryan would indeed have achieved a remark
quired the Hyde stock. he had promptly annoTnceS
poltcyhoders and would hold 10 only until the leg
islature passed act enabling the society to take
complete naturalization We believe that This Ef' Is
IN Iae1 Mc Kya az sb plan His mistake was in not
misunderstanding and suspicion We know that
that some Who are closely identified with him him
feel that he missed unique opportunity in failing
It makes, after all. little difference what Mr..
done, and dOing7 is
test OF the whole transaction. Here are the
First~He bought from Mr.. Hyde his controlling
second-He trusted this stock with men of
national reputation. ex-President of the
OF eighty million OF people; the second a Judge
OF the Supreme Court OF New-York, and the third
Third|Fe made the deed Of trust so strong that
S SX no Of be tre can r 1se 0%er & T 9s
fered with during the life OF the trust.
rqG oras p ffs sess o is
board OF directors Paul Morton. exi,SSecretaTy Of
monial Of Endorsement from the President OF the
United States al, strong as the Presidents strong
Here are some things, Mr Ryan has not done:
with the work OF the Equitable stock trustees
1eadng to the selection of any Of the new d7ectoTs
Of the society. Not one Of them was recon-
Third-He has steadfastly refused to take any
part in the ,msa fom or 5ne society and has
Here is one thing which Mr.. Ryan will soon do:
society. e.
sumably at the price he paid for it, with interest
Mr. Ryan may have deep designs of a diabolcal
Character IN regard TO the Equitable but thus FAR
least his record is clear Until It can be shown
10 the contrary there is but conclusion possible
from the facts namely. that he is acting in entire
good faith What he has done must be accented
at par value And what he has done is 10 save the
Equitable and the business OF the country from
disaster The polieyholders have secured large rep
time. undoubtedly obtain full power OF control
There has been attempt 10 use the EquitabIe 10
further any ones personal schemes If there shall
hereafter be acknowledgment the blame II seems
to us, will be less Mr.. Rvans than that OF the
directors chosen by Mr.. Cleveland and his two
holders. = - 49,