[doug@Douglass-MacBook-Pro slice-cme]$ cat test2.rb
require "net/http"
http = Net::HTTP.new("http://1.1.1.1:80")
http.open_timeout = 2
http.read_timeout = 3
begin
  http.start
  begin
    http.request_get("/whatever?") do |res|
      res.read_body
    end
  rescue Timeout::Error
    puts "Timeout due to reading"
  end
rescue Timeout::Error
  puts "Timeout due to connecting"
end
[doug@Douglass-MacBook-Pro slice-cme]$ ruby test2.rb
/System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:878:in `initialize': getaddrinfo: nodename nor servname provided, or not known (SocketError)
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:878:in `open'
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:878:in `block in connect'
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/timeout.rb:66:in `timeout'
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:877:in `connect'
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:862:in `do_start'
	from /System/Library/Frameworks/Ruby.framework/Versions/2.0/usr/lib/ruby/2.0.0/net/http.rb:857:in `start'
	from test2.rb:6:in `<main>'
[doug@Douglass-MacBook-Pro slice-cme]$ ruby -v
ruby 2.0.0p247 (2013-06-27 revision 41674) [universal.x86_64-darwin13]