Jasper County Democrat, Volume 8, Number 37, Rensselaer, Jasper County, 16 December 1905 — WHAT HARRIMAN SAID [ARTICLE]

WHAT HARRIMAN SAID

Ryan Tells the Story of the Demands Made by the Rail* way Man. WANTED A SHARE OF EQUITABLE Threatened to Use His Political Influence if He Did Not Get It Senator Dryden Testifies to Paying Money to the Republican Campaign Fund and to Hamilton, the Legislative Agent. New York, Dec. 13. Thomas F. tyan appeared before the insurance investigating committee and told what E. H. Harriman did and threatened to do when hedemanded that Ryan concede to him a share in the control of the Equitable Life Assurance society last June. Ryan assured the committee that he had meant no disrespect by his lorrner refusal to disclose their conversations, and said that he had determined to answer the questions to which he had refused replies on Friday last because District Attorney Jerome said he ought to do so. Ryan’s version of what Hnrriman demanded rnd what he threatened to do upon the refusal of his demands, was in substance as follows: What Was Demanded by Harriman. That Harriman demanded one-half of the 502 shares of the stock of the Equitable Life Assurance society which Ryan had purchased from Jas. 11. Hyde, and which gave Ryan control of the property. That Hnrriman threatened, unless he was conceded this share in the control of the society. to exert his political and all other Influences ngaipst Ryan and his project. That Harriman declared there probably would-be legislative action. and that in that event his influence would he important. That Harriman demanded the right to munetwo of five trustees to vote the controlling stock in the election of directors of the society. Was a Strenuous Interview. In reply to repented questions by Attorney Hughes, counsel of the committee. Ryan stated that Hnrriman did not threaten that there should he legislative action unless he was given a share In the Equitable control, but said there probably would be such action. Neither did Harriman threaten any action by an officer of the government. It wns a strenuous Interview. Ryan said, and was held In the presence of Ellhu Root, then Ryan’s counsel, now secretary of state, and Paul D. Cravath, also Ryan’s counsel. Wanted a Share of Control. Ryan told the committee that he drew the Inference from it that Harrintan did not want anybody to control the Equitable society unless he had a share in it. Ryan also stnted that he paid no attention to Harrimnn’s statement that his Influence would be important In the event of legislative action, and informed him that he wanted no partners in the enterprise. Harriman did not get the coveted share in the stock. Ryan that this interview took place within a few days after he got control of the Hyde stock. _ Senator Dryden Gives Testimony. United States Senator John F. Dryden, of New Jersey, president of the Prudential Life Insurance Company of America, was on the witness stand all

the remainder of the day. He testified that his company paid $26,000 to the Republican national campaign fund In 1806. 1900 and 1904. It also paid $5,000 to Andrew Hamilton, formerly the New York legislative agent at Albany. Peabody Heads Mutual. New York, Dec. 14.—Charles A. Peabody was elected president of the Mutual Life Insurance company at a meeting of the board of trustees. Mr. Peabody’s salary Was fixed at $50,000 a year. His predecessor, Richard A. McCurdy, received $150,000 a year. Mr. Peabody will take office on January 1. George W. Perkins tendered his resignation as vice president and chairman of the finance committee of the New York Life Insurance company at a meeting of the hoard of trustees and It was accepted. Alexander E. Orr was elected to sticceed Mr. Perkins as ranking rice president and chairman of the finance committee.