Daily press. [volume] (Newport News, Va.) 1896-current, 1905-12-09
Man Who Controls the Fquitable
Refuses to Tell of Threats
Made by Hartman.
CASE UP TO D.STRlcT ATTORNEY
Legislators would Punish tnc Nit.
'ionaire for His Utter Disregard OF
Their Authority-Admits Buying
Control OF the insurance Company
to Prevent Panic in Wall Street
tGv Associated rress.l

SCI
NEW YORK, Dec. S.--Thc lcgisln-
tive cominittcc which is investigating
life insurance. conditions. today de-
torminod Ia send 10 District Attorney
Jerome request that he institute
proceedings against Thomas +. Ryan,
iiuanciSr and owned OF tho majority
Ct the stock oil the Equitable Life
Assurance Society. 10 punish NJ.
Ryan for refusing 10 answer qucs-
lions before The committee.
Mr.. Ryan had refused 10 answer.
when asked what r. II. Hartman,
president OF the Union Pacific and
Southern Pacific railway companies,
had said 10 him when Mr.. Harri-
man tried 10 induce him to share his
control OF tho Equitable society with
Mr.. Hartman.
Did Hartman Threaten Ryan?
Mr.. Ryan was asked whether Mr.
l!irriman had threatened that disaS-
trous results to Mr.. Ryans intcrcs,
would ensuc or ii Mr.. Hartman had
told him that action would he taken
by the State Legislature OF any OF.
iices Ct the government unless Mr..
RYAN consented 10 share his stock
with him.
Acting on tho advice of his at
tcrncy, Paul ID. Cravath. Mr.. Ryan
declined to answer those questions
although Senator Armstrong. chair.
man OF the committee, directed him
to do so
MIR. Ryan, however. did answer one
question by saying that Mr.. Ilarri.
man did not tell him at that time
there would be Il legislative lnvcsti-
cation of the Insurance business IN.
less he gave up part of The Hyde
stock
Pays Gig Price for Control.
MIR. Ryan had already testified that
he secured control OF the Equitable
Society by paying James II. Hyde
$2,500.o00 Tor a02 shares OF the to-
tai 1000 shares Of the society.
After YOU had bought that stoci:.
was there any proposition TO share L
with you?" asked Charles T. Hughes.
counsel for the committee.
Am obliged 10 answer that
question:" asked Mr.. Ryan.
Il think you ought TO. Mr.. Ryan"
said Mr Hughes
IL. II. Hartman dosrcd 10 share
the purchase with ne and / re-
fused 10 Permit that" replied Mr..
Ryan
MIR. Ryan said that re thought Mr..
Hartman made his request on the
day tha, Mr.. Ryan bought the stock
and before The purchase was pub
licly announced.
Ryan Defies the Committee.
What did Mr.. Hartman say 10
You TO influence you to make tho
sale
| Ryan refused To answer on the ad-
vice Of his attorney.
To this Mr.. Hughes said
| Il deem the matter important in
two aspects. In the first place thal
the committee understands the mo-
tive which may actuate those who
desire TO obtain control OF the stock
of the insurance company and the
proceedings which may be taken to
acquire ii; and secondly that We may
| know whittier there is any truth in
! the Athat there was any sug.
gcstidV That life insurance condi-
tons MAhis State would be invcsti-
gated II Mr. Ryan did not accedo to
I Mr.. Harriman's request. think that
, We should have full light upon the
I transaction. and hope that Mr.. Ry-
| an will feel that no can do another
public service by advising the COM
| mittee fully" Ryan still refused to
| answer.
Wealth Against Wealth.
In reply to further questions bear
ing OH this subject Mr.. Ryan said
the relations between Mr.. Hartman
and himself wctnAquitc strained for
several days and %Set tho upshof OF
several Interviews. hotwonn tho f'n,o