Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-12
MEANT NO D|SRESP[CT
7. F. Ryan Explains Why He
Refused to Answer
AT TINSURANCEINQUIRY
RECoUNTS WHAT PASSED BE-
TWEEN HIM AND HARTMAN.
latter Eo1f That Former Should Mo-
Latter Felt That Former Should No:
Have Bought Hyde Stock Without
Consulting Him.

NEW YORK, December 12.-Thomas F.
Ryan, who purchased the Hyde stock of
the Equitable Life Assurance Society, was
the first witness before the insurance inves-
tigat ting committee today. He said to MIR.
Hughes, counsel for the committee, that he
had meant disrespect by his declinaton
to tell what E. II. Hartman had said to
him at the time that Mr.. Hartman sought
to obtain share in Mr. Ryan's purchase
of the Hyde stock
Mr.. Ryan said: Il did not mean any dis
respect to the committee. 1 wish to pre-
serve harmony. 1 did not wish to answer
the question until I was satisfied that !
was obliged to answer it. The district at
torney has determined that 1 shall answer
the question and l shall give my best rec.
objection Of the conversation
What did Mr. Hartman say to you
about sharing the Hyde stock?" asked Mr..
Hughes.
Immediately after my purchase of the
stock" said Mr.. Ryan, Mr. Hartman
called on me. We had several conversa-
tions. Mr.. Hartman said that 1 should
not have come into the situation without
consulting him, and that ought to let him
have an equal share in the Hyde stock. I
declined. He objected to the trustees and
wanted to name two of them. He said he
did not think 1 could carry out my plans
without his aid. / said l intended to .divest
lnS sell VI toilllOi VI llt diiu L
regretted very much to have his opposition,
but l was going to carry out my plan
whether had his opposition or not
Purchase of the Hyde Stock.
The purchase of the Hyde stock, Mr. Ryan
said, was made on Friday, June 8. Mr..
Ryan first heard from Mr.. Hartman on
that day. Mr.. Hartman, said the witness,
suspected that he Ryan) was in the
deal and had talk with him on that day.
Mr.. Hartman saw him again on the follow
ing Monday or Tuesday, in company with
Elihu Root and Paul Cravath. Most of the
things said were said at this second inter-
view. Mr.. Ryan told Mr. Hartman who the
trustees We're to be. Hartman then said
that he had given much time to straighten
out the Equitable. The witness said that
Hartman gave no other reason than that
for demanding a share in the purchase of
the Hyde. stock.
For what reason did Mr.. Hartman want
half the stock?" asked Mr.. Hughes.
For, the reason that he had been in the
Equitable as a director and was not salts
fed that the stock should be in my hands,
replied Mr.. Ryan. He said his whole infiu-
ence would be against me.
Did he refer to the political influence
that he would assert, at the interview at
which Mr.. Root and Mr.. Cravath were
present. asked Mr.. Hughes.
My recollection is that he did
Did h1 refer to the probability of legis-
lative action at that same interview
He did.
And you understood fully that in re-
fusing to meet his wishes you were taking
the chance of whatever opposition he could
bring to bear upon your
Il did,
And you told him that you intended
that the management of the Equitable
should be entirely independents
Il did,
independent of what?'
Independent of me and everybody else
He said his political influence would
be against me, but he did not mention
any names. He said the legislature
would probably take action, but I
don't think he mentioned an investiga-
ton. 1 think he said legislative action
would probably result and that his influence
would be important. Mr. Hartman did not
say anything about legislative action in the
event l acceded to his request. He did not
say how his actions in the matter would be
important