The sun., 1908-05-03
NSURGNCEMAN GCCUSESRYAN
SAYS NE AND II. WHILNEY AND
T.. =. MORTON CONSPIRED

To Aecentuate Financial stress So ~ TO
Dlscredlt Roosevelt and increase Their
own Profts-ACcuser SUES washing
ton Life for Breach Of Contract.
Charges Of conspiracy against Thomas
+. Ryan. Harry Payne Whitney aud Lew
=. Morton az directors Of the Washington
Life Insurance Company Of New York are
contained in a declaration filed In the Su-
preme Court at Newark yesterday by Ed
mond A. Whittier OF East Orange In his sult
for S2O, 600 damages against the company,
Whittier was the New Jersey State man
ager Of the insurance concern and sets up
the claim that the company violated its con-
tract with him. He singled opt Ryan,
Whitney and Morton as cOconspirators'
Among other things the declaration relates
that ii was through their Vaccinations
with others in the directorate for the pur-
pose Of causng a dearth Of money in Imam
cial districts outside Of New York that the
company through rule imposed upon him
50 hampered his opportunity as to amount
20 violation OF the contract.
II is averred by the complainant in his
paper that the Washington Life IL domi-
mated by Ryan, Whitney and Morton and
the board Of directors is characterized as
dummy board" exercising no real power
over the affairs Of the corporation ana
merely used as cloak to defraud the public.
The plaintiff alleges he had learned since
the making Of the agency contract WIN
che corporation that Ryan, Whitney ana
Morton used their control Of the company
not for the benefit Of the stockholders but
for their own selfish and fraudulent protit.
The declaration recites IL vas the custom
Of the company TO Keep in q local bank the
current local collections on deposit To the
account Of the local manager 80 that the
manager, with hs private account IN the
| bank could discount notes and cOmmerclal
paper on the strength Of the company5
| deposit, thereby being able to obtain for
| the company the bulk of its new business
and making for the manager greater profits
! because OF increased commissions. The
/ plaintiff says he received a letter from John
! TatlOCk, president Of the company, ON June
| T.. 1907, to the effect that all moneys IN eH-
cess of $500 should be remitted to New York
weekly.
The change, the plaintiff asserts, seriously
| interfered with the business transacted by
thim. He declares the order was not made
for the good Of the company, but on orders
| Of Ryan, Whitney and Morton, in collabora-
ton with other unpatfiOtic and wicked per-
sons In cooonspiraCy with the SAID Ryan.
Whitney and Morton 10 procure dearth ot
| moneys in other parts Of the country other
than the financial district OF New York in
order that a financial panic would be- pro-
cured to bring into cOntulne!y and into
disgrace the administration Of his Excel
enCy Theodore Roosevelt. as President Of
the nited States; procure bear market
| in Wall Street, bring commercial panic
and unhappiness to the majority ol the
American people in order not only 20 bring
profits TO them but TO falsely demonstrate
10 the American people that dishonest com
merciul methods we're the price or rather
the prerequisite to the commercial pros
peIity and economic welfare Of the Amer
| ican people"