The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-08-29
TT, RYAN ON THE EQUITABLE.
IRIS As SOUND AS THE BANK or
ENGLAND, HE SAYS.

ENGLAND, me- SAfS.
Any wrougdoer should Surfer and An,
Graft Must he Returned-Let the
investigates Have tho Same Insight
Int All the Insurance Companies.
SEATTLE, Wash, Aug. 2s.-Thomas F.
Ryan. the man who recently bought the
control Of the Equitable Life Assurance
Society OF New York from James H. Hyde,
arrived in Seattle yesterday afternoon In
his private car Pere Marquette over the
Northern Pacific from Vancouver. He left
New York on Aug. Is, coming west from
Montreal over the Canadian Pacific. In
answer to questions Mr.. Ryan said:
This Is my eighth visit to the Pacific
Coast. ! am astounded at the progress Of
the country since my last visit. In 1901, and
the evidences Of prosperity to be seen on
all sides.
.As to Equitable Life, my purchase OF
the control OF the stock and inducing Of
Mr. Morton to take the presidency was only
q public duty which any number Of other
men would readily have performed had
they been aware Of the consequences Of q
continuation OF the dissensions among the
odofficers and soneof the directors. hap
pened. from my relations to some Of the
parties engaged in the conflict, to have q
better view OF the, situation than some
others. That was all.
.There is not the slightest doubt about
the strength Of the Equitable. 1t Is as
sound as the, Bank OF England. 1t will
hereafter be run as an insurance company
pure and simple, with an eye single to the
investigation BY the New York Legislature.
nothing could be better for the policy
will afford the committee every facility
and will aid In every way to the end that
full and thorough Investigation , shall pc Pc
company has been guilty Of wrong doing
he should suffer. II anybody has anything
in his possession belonging to the company
he must give 1t back.
'We insist, howe yer; that the investiga-
ting committee shall demand from all the
other insurance companies that the COM
mittee be given the same facilities for an
insight into their management as the Equi-
table offers. We feel that this Is not only
fair but clearly in the interest Of all policy
life insurance companies must become
an open book, or confidence. which Is the
very foundation upon which they exist,
will not be soon restored.
"The Federal Government should have
practically the came supervision OF life
banks. The officers and managers Of these
companies have In their keeping a trust
OF the most sacred character and they
should not object to the strictest super vision
Of their conduct consistent with the best
that President Roosev elt has given this
question much thought and hope he will
express his opinions to Congress in his
usual vigorous and straightforward way"
Il suppose that you are not pleased at
A.. i Nf - tSo
papers regarding your purchase OF the
control Of the Eauitable?"
-Oh. that can't be helped. 1t will come
out RICH. in the end when they see that
the directors. Mr.. Cleveland and his CO.
Morton in bis discrimination to have a
thorough house cleaning put the company
on an economical business basis, reduce
the cost Of insurance to policyholders
manage the company In their interest
and with due regard to the public senti-
this way appeal to the public conscience;
II will then command confidence every
where"
'Are you candidate for United States
Senator from Virginia."
political office. 4 have responsibilities
enough without that"
you are e course interested IN ma
YES. always, and in Virginia State politics
son has been nominated by the Democrats
for Governor OF that State. The Presi-
Dental election Is a long way OF and it is
too soon to talk about the candidates.
Democratic success can only come by
ganizing and forcing the party to take .
stand for conservatism and by appealing
to the sober minded and thoughtful in the
country. In the solid South lies the party's
greatest hope Of a revival Of the principles Of
Democratic party would long since have
been a memory OF the past. It Is there
fore entitled by right to dictate its policy"