The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1905-12-15
Would Use His Personal
and Political Power to
Break Into Equitable
Life insurance Com
,pany.
The Man Who Bought
IStock Of James t1azen
Hyde Concludes to
Answer Questions to
Escape Prosecution.


New York, Dec. 1.-THE battle OF
sworn statements by the Lden OF high
finance" reached another anti-climax
before the legislative committee on in
surance today, when Thomas l.. Ryan.
the purchaser of the James Hazen
Hyde stock which made him the finan-
cial dictator of the Equitable Life As
surance society told how Edward II.
Hartman had attempted to break into
the Equitable's financial fold by
threatening Ryan with his personal
and political power. II was the latter
influence, which Mr.. Ryan intim&ted
in words too plain to be misundei stood
that Mr.. Har1 imam had swung over Mr.
Ryan in his attempt to "break in" as
partner In the purchase of the Hyde
stock. Former Governor Benjamin b.
odell is known to be close political
friend of Mr.. Hartman.
Mr.. Ryan's testimony today was
along lines which he had refused to
speak before the committee last Fri
day. The committee appealed to Dis
trict Attorney Jerome. who decided
that Mr.. Ryan was compelled by law
to, answer Inquisitor- Hughes ques-
tions- or face an indictment. Upon
the heels of the district attorneys
quick decision came a statement from
Mr.. Ryan through his attorney, Paul
ID. Cravath, that he was willing to api
pear before the committee and talk
frankly. That Is what he did today.
Before answering Mr. Hughes first
questions. however, Mr.. Ryan sad
that he hoped the committee would
not misunderstood his attitude; that
he meant no disrespect to the comm,
tee in refusing to answer but merely
acted upon the conventionality of bus
iness etiquette in refusing to talk of
a private business conversation un-
less he was forced to do so.
Mr.. Hughes asked: ''Mr. Ryan, at
the hearing Friday, you testifier thai
Mr.. Hartman desired to share the
purchase of the Equitable stock with
you and that you refused. What did
Mr.. Hartman say to you in connection
: with that matter?"
Mr.. Ryan deliberated moment and
replied: Immediately after my pur-
chase Of the. Equitable stock Mr.. Har-
riman called upon me and we had a
! conversation. We had several CONVEX
Bations during the few days following.
the purchase. One Of these converse
tions was in the presence Of my coun
eel Mr.. Elihu Root, and Paul d. Cra-
yath. Some OF the conversations were
over the telephone.
"Mr. Hartman, as near as can re
member, said that he had devoted y
large amount of time and work to the
Equitable situation, and that | should
not have come into the situation with
out consulting him; that had bought
Mr.. Hyde's stock and as l bought Mr
Hyde's stock he demanded that I
should sh hare--let him share-in the
purchase and have an equal voice In
the management.
"This I declined. He also objected
to having the stock trusteed. HefiD-
ally said If ! would allow him to
share in the purchase and In the man
agement and allow him to name tive
trustees with Grover cleveland Judge
OBrlen and Mr. westinghouse m
would assent to my plan, :,
" "He also said he did not think
could. carry out my plan without HE
aid. said that ] had determined In
the interests of the policyholders Of
the Equitable and for the public goos.
/, 10 .diycst myself of all, control of the
Equitable and that, while, II desired
very much the, co-operation OF Mr.
Hartman and all other large flnan-
cial interests. the task doubtless wouia
/, be hard one and | regretted very
much to have his opposition. but that
I could not give my intention tt
trustee that stock, as had made VI
my mind to do SO as soon as L .pur'
: chased 1t, and that, whether l had op
r sition or not was going to CARY
out my plan"
Mr.. Ryan then detailed the dates o.
his interviews with Mr.. Hartman.
The first he alleged. was on Friday,
June 8, when Mr.. Ryan came into con-
troll of the Equitable stock of Mr..
Hyde. At that time Mr.. Hartman
did not know. .Mr. Ryan believed. tina.
the transaction had been consummat-
ed, although he suspected that Mr..
Ryan was flirting with the Equitable,
Mr.. Ryan told of Mr., Hariman's
alleged threat to, him that he would
not be able to- carry out n 'sspIan
aYainst opposition. MIR. Hughes ask
cd: -G.. 4 a; NJ Y
what opposition did Mr., Hartman
eay ne would giYe?"