New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-23
STOCKHOLDERSSUE COLER
Continued from first page.

call at from TO 20 per cent. ana that the loss
by reason of Mr.. Coler's action in depositing his
money amounted to $4,000 to the trust COM
pany.
The complaint at considerable length goes into
the action taken last winter by Ernest c Brown
and David h. King. representing stockholders.
and insisting that the loans be paid II tells Of
the organization Of an underwriting syndicate
by Richard W. Jones. jr.. at the alleged insti-
CATION OF Coler composed of Mesers Jones'
Coier. Balkan, Green. Fairchild. Nissen. Levy
and Barton, to deal in the stocks or the Suar-
dian Trust Company. and of which Coler was
made manager and received powers to represent
the syndicate and make any deals that he saw
fit without consulting other members OF the
syndicate The syndicate then underworld the
stock Of Coler. which had been pledged ana oo-
tanned upon it other loans. enabling Coler to
liquidate the first loans made upon 1t. The
complaint next alleges that by reason OF the de-
PENDANTS refusal TO withdraw the funds the
trust company sustained large losses. and the
value Of its stock was greatly deprecated by
such wrongful acts and misuse Of the companys
fund.
The complaint continues:
That shortly after his election The as WPssten part ri
efiq the eOT HP1ea States on private business ara
manned there for several weeks That prior 10
rious political matters and that upon his election
10 he presidency OF the company ne prouisSu
and agreed that he would not thereafter devote ms
time to political matters or seek any once DuI
would devote his entire time 10 the buslutSs ~ ~
company and after his said business trip 10 Ine
west the said defendant devoted a large amount
OF his time for many weeks 10 pollucai matters
and grossly neglected the business OF the COMPANY
and the remaining time as presiGent OF Ins
company he devoted to his private business anu
the manipulation and control OF the synulcates anu
stock. set forth.
MR.. CoLER TALKS ABOUT CASE.
Mr. Coler. when seen last night. said the COM
plant filed yesterday an amended COM
plant in an action begun against him about
two months ago. and that IL was the intention
Of his counsel Barber & Hotchkiss. in a motion
10 he made before United States Circuit Judge
Laconlbe to-day. TO ask for the dismissal of the
first complaint The amended complaint, NJ.
Coler said. had been filed evidently at this time
In order to have something additional before the
court 10 prevent. If possible. the complaint
from being dismissed. Mr.. Barber. Mr.. Coler
also said. would now ask for the dismissal OF
both complaints. He added;
This is all done for political purposes. and the
case is brought for the purpose OF injurtng me.
Ny associates and myself have q standing offer
20 the men named plaintiffs in this action TO
buy all the stock they own in the Guardian Trust
Company al $500 a share. We also offer 20 sell our
holdings them at the same price. Mr.. Brown,
the former Vice-president Of the trust company,
told me that he intended to do me politically
and that he and the men with him would drive me
out OF politics. ] credibly Informed that the
stock in the Guardian company held by these
cannot be bought to-day for A.OOo . share.
men behind these men than those named in The
complaint plaintiffs.