| Show gives insurance investigation committee much inside information frankly says bae distrusted ryan and watched his course f new dec 15 H harriman in the insurance investigation today eaid that he was instrumental in pro venting bills from being introduced in the legislature to aid one faction in the equitable to get control 0 the society mr harriman said that when a move was on foot to give the control of the equitable to james W alexander and his friends by means of legislative action at albany be wired tain persons at albany to keep him informed as to tho progress such proceedings ce might make asked who these persons at albany were mr harriman requested that he be excused from answering he said he did not want to answer because he did not want to give occasion tor sensational newspaper headlines the committee and counsel mr hughes retired for consultation mr harriman said he should like to consult before replying the committee decided however that be should answer and he did so saying that the persons from whom he had requested the information were governor and the late speaker nixon of the assembly after mr harriman had answered concerning governor and speaker nixon senator armstrong chairman of the committee said we are sorry you give such an air of mystery to this matter as we all know such inquiries are regular and common mr harriman then said 1 I ask the press to spare these men and not bring their names into the headlines new york dec 15 E H harriman nas called to the stand when the insurance investigating committee opened its session today mr harriman said he learned of the sale of the hyde stock on the day that mr ryan bought it he telephoned to mr ryan and asked him if be had bought it ryan said the purchase was conditional said mr harriman and that be wanted to see me and talk with me and that he wanted my help I 1 ariti cased his plan and wanted to know what he meant by it ten or fifteen minutes later I 1 went to ryans office he told me he had decided to buy the stock and said it was time tor him to make a name tor himself he said he bad decided to buy hydes stock provided he could get bis nominee elected chairman of the board he said he had made a good deal of money and never had done anything to make a name for himself I 1 questioned his motive he had told me ho wanted my help that I 1 was the one man la new york whose help he desired what kind of help asked mr hughes counsel to the investigating committee to help him get his nominee elect od chairman of the board replied amri harriman asked upon what grounds he had criticized criticised mr ryans plan mr harriman replied well it was rather staggering to anybody that ryan wanted to control the equitable or should have control of it 1 I told him continued mr harriman that it I 1 was satisfied that he was acting from a pure and unselfish motive in the interest of the equitable 1 would help him he told me his plan I 1 did not tell him then that I 1 wanted a share in the hyde stock I 1 assisted him to get his nominee elected why did you if you were not satis fied as to the purity of his motives asked mr hughes 1 I became satisfied that with mr morton in charge and it mr ryan were sincere the affairs of the equitable would be sate I 1 was convinced that mr ryan was I 1 did not then think mr ryan would share the stock with me assemblyman roger of the committee here asked when did you resign as director of the equitable when the prick committee made their report this wae june and 2nd the next interview with ryan was on the monday following the purchase of the ryan stock said the witness first however I 1 told mr ryan I 1 had helped to elect president morton and ryan said he wanted to meet me and after morton was elected ryan called up and said he appreciated my help and wanted me to continue and ald he would do nothing further without my consent and wanted to meet me I 1 made an appointment to meet him at 11 mr cravath came and said ryan was sorry he had to proceed without me I 1 told mr cravath I 1 considered this an act of bad faith turned my backon cravath and walked away mr ryan later asked me to come to his office on monday and meet mr root in that interview with cravath be told me that mr root had insisted on the appointment ot the trustees of the equitable at once and that the announcement was made in the morning papers that was the first intimation that mr ryan bad asked the trustees to act 1 I want you all to understand that 2 have something besides life insurance to do and think of my mind miles of railroads waa on tho and 33 or 40 steamships which I 1 have to think of I 1 wanted only to safeguard the equitable mr ryan did not tell me at the first interview what be paid for the hyde stock at the interview root and cravath were present I 1 said to ryan you he eald yes want my operation cooperation co I 1 aid 1 I alu take halt of your stock if you will let me name two trustees ryan refused and told me I 1 bad prom iced to delphim hel phim if I 1 was satisfied eal I 1 said this was my way of being hufled I 1 do not remember what else i taid I 1 may have said what these pen clemen say I 1 did I 1 intended unless I 1 wag of bis motives to oppose MB control of abo society and thought it ought to be stopped 1 knew whom hohag trusties trust pes but did net know his plan to divest himself of control of the stock 7 ald you object asked r hu LS tw trustees independent of mr ryan I 1 think that any trustees named as mr ryan named them must be to a certain extent under his control especially as he had named a man out of his own organization as president I 1 did not demand a right to name two trustees but merely that they should be independent of ryan I 1 offered to turn my stock over to the society it all did I 1 dont see why he should not make the trustees number a hundred if his motives were pure I 1 was not a philanthropist and did auch for him to pay which he was going to get back when he got control of the society it was because of my interest m the equitable that I 1 wanted a share there was no possibility of a panic no one but ryan had such a view I 1 doubt whether he had it did you tell ryan it he did not give you a share ot the stock you would oppose whatever he did asked mr hughes no sir A wrong interpretation has been put on what came out ot this I 1 have no recollection ot having said to ryan I 1 did not intend to let anybody control that stock unless I 1 had a share in it I 1 cannot say positively that I 1 did not say it did you tell him he would have your help if he gave you a share 1 I made no demand for the stock but that he should assure me ot the purity of his motives which he could do by giving me a share did you tell him he could not succeed without your help 1 I was convinced that he intended to center the control of the equitable in himself and I 1 told him that my interference ter would be thrown against him I 1 told him I 1 would use every effort I 1 could it was not so strenuous an interview it lasted only fifteen minutes did you refer to legislative action or say anything about the legislature 1 I do not recall any such thing nor that I 1 would do anything to induce legislation I 1 cannot deny positively that I 1 did I 1 do not know that it would not have been proper everybody knew that there would be legislation on the matter it I 1 recollected it I 1 would be perfectly willing to tell it did you take any steps to thwart his plans not yet I 1 had no conversation with governor odell about advisability of a legislative investigation nor about any kind of legislation whatever I 1 knew nothing about this investigation vesti gation whatever mr harriman said he Is in politics and has some political influence and he did not consider it improper it he did use his political influence against ryan nothing improper in ryans conduct of the equitable has yet come to my attention he said and I 1 have not had time to attend to it it anything had come to my attention I 1 would have acted what Is your political influence it Is such as any man of prominence has who has never asked one to do anything improper I 1 have great interests in new york and am often consulted mr hughes asked how he was consulted 1 I had to do with preventing bills from being introduced in the legislature by one faction in the equitable to get control ot the society it has been charged that through your relation with mr odell you have political influence what would you say as to that asked mr hughes well I 1 should think mr odell has political influence because of his relations with me replied mr harrl man laughter A few minutes later in his testimony mr harriman returned to the subject of former governor odell and political influence and said mr hughes you spoke about governor odell and my having political influence because of my relations or affiliations with him I 1 would like to say that all last spring during the controversy the equitable controversy between its inside factions that governor odell was not here nor was he communicated with about it so that bo had no hand in it whatever and during that period were you la consultation with members of the legislature asked mr hughes not specially in regard to insurance matters 1 I had the matter watched at albany to see what attempts being mado to use the legislature improperly when you refer to the possession ot political influence through relations to you you mean because of tho many important matters in which you are interested te for which you stand yes in many ways you in the prominent position referred to a great man yub that come before the legislature no I 1 ha do interest in many matters that come before tho ee well I 1 waa referring to matters affecting railroads banks and trust 99 1 hand in that no I 1 never had any we ll 11 I 1 dont just understand what meant by political influence you through relation to you said mr an common citizen has some po said tha witness ln fluence it anybody in politics can get the friendship and backing of people who political end to serve why have no them more or less stand that gives governor odell might recent ine now statement a that I 1 dont such a he know whether I 1 would arf in politics think if I 1 was tl possible of to EC as r prominence to ie blends of mine read mr Harrl mans i mr testimony in which lie said lievi ou buy the hyde ahe not W and harriman said be aid not then have in mind his attempt to get the ryan holdings but meant that he made no attempt to buy the stock direct from mr hyde mr harriman asked mr hughes it he did not think tho answer was proper and mr hushes said be thought it was that mr had in mind only that he made no offer to mr hughes asked mr harriman what was his understanding as to the absolute transfer of the hyde stock to him whether there was an arrangement ran gement that tha stock was to be carried for hyde in whole or in part no replied the witness but that was suspected by everybody mr harriman said he did not insist that the two additional trustees sug by him should be appointed by him what he wanted he said was the appointment of two absolutely independent trustees to act as a check on ryan and the ryan trustees mr hughes asked what mr harriman did at albany to prevent the mu of the equitable mr harriman objected to telling but mr hughes insisted and mr harriman said that in the equitable trouble mr hyde offered to trustee the stock as ryan did later A sub of the equitable had recommended mu it was put into the hands of lawyers to take care of this at albany the alexander faction went to albany to oppose the plan said the witness and mr platt went there to represent a committee of ers I 1 was neutral not with either faction I 1 was in communication with men who were to inform me it there was an possibility of the alexander faction succeeding I 1 do not want to tell you what they reported there was no bill introduced I 1 took steps with some members of the legislature to let me know if a bill was introduced mr hubbes brought out the statement that mr harriman did not prevent a bill being introduced and he was not informed that a bill was going to be introduced mr harriman on leaving the witness stand said that his reason for wanting to keep governor higgins and speaker dixons nixons names out of the newspaper headlines is that most people read only the headlines mr harriman was then excused an examination of the affairs of the provident savings life assurance society was then taken up and edward fotr the actuary of the society went on the stand he was examined as to the expenses of the society and many actuarial act uaral matters SWIMMING CLUB HANDICAP chicago dec 15 in the monthly handicap meet of the central young mens christian association swimming club held in the association tank last night H J handy bettered two american records and set six new Y M C A records the new marks were made in the yard swim in which handy contested from scratch against weber and solomon both of whom aad good handicaps but which handy won the american records bettered were the yard in which the Y M C A star lowered the mark of spencer of the new york athletic club from 15 1 5 to 35 3 5 and the CCO yards in which he lowered the mark of brewer of the olympic club of san francisco from to 25 2 5 neither of these will stand as records as they were made in a closed meet the new Y M C A records were 44 yards 24 yards FOR COTTON EXCHANGE SEAT new york dec 15 tho cotton exchange membership of charles bryan was sold yesterday lohenry to Henry schaefer for the record pries for a beat on this exchange the last seat sold brought 2000 A year ago was called a high price for a seat on the exchange |
