The daily morning journal and courier., 1904-08-05

. GCACnAC-A-aA6N
 Complaints from All over the state.
 Attorney Alderman Who Represents
 Most of the Local Creditors Acting in
 Conjunction With Judge Garvin of
 Hartford in Attempt to Recover Some
 of the Money Paid to Concern by
 Clients. ! A number of lawyers in this city have been consulted by local citizens and others about the county, who claim that they have paid various sums or money to the Equitable Home Assur- ance company, which had a local or
 flee in this city, and which was incor- porated under the laws of the state Of Rhode Island, for which they have re- ceived no return, and from which they claim they cannot under the present conditions.
 Although the company had many branch offices in this state, the nam office for the state was apparently at Hartford. The business of the com pany was to deal in real estate upon a system of cooperation The officers of ithe company were advertised as Will liam H. Dodge, president; H. Q. Lund, treasurer; c. V. c. Bacon, secretary; w. R. Dodge, son of William H. Dodge, general manager.
 There have been a number of actions brought against this company or it's agents in various parts of the state, and from present indications there are a large number now in the works. Since the original form of contract was issued by the company, a new form was afterwards adopted. A number of 1.-the old contracts are yet in force, and it is on these that most of the suits are based. Under the terms of the contract the party of the first part was desirous of purchasing a home, the val + ue of which shall be specified sum. Under this arrangement the party ot the first part pays $5 down, which was known as an application fee, and the fund was credited to what was known as the operating fund, and on the car rying out of the conditions by the GUS toner the company agreed to purchase for him a home of the value of the sum specified in the original form of contract.
 The principal terms and conditions of the contract were that the customer agreed to pay a certain sum every month, in most cases this being $1.50, until the number of his contract was matured. Contracts matured as fol- lows. .sWhenever there shall be the sum of $50 paid monthly into the prop erty fund, the company natures it's contracts in numerical order, commence ling with number one: each contract being numbered as it arrives at the of flee with the next consecutive number" The company had three depository funds: First the real estate or proper lty fund, from which property was to be bought and mortgages redeemed; second, thes operating. fund, to supply the company with money to defray the necessary running expenses; third, the sinking fund, to be used in any enler- gency that might arise.
 From all payments to be made under the contract, ten percent. was to be de- posited in the sinking fund, forty per cent. in the operating fund and the balance in the property fund. Upon the maturity of contract the party of the first part has the right to select such home or land and plans as he might de- lsire. the entire cost of which should not be more than $1 1000. After the se- Election was made, the company, under I the contract was to arrange the terms with the owner or contractors of the Iproperty upon series of payments of not more than $50 month until the property was paid for.
 Holders of the contracts in Hartford, New Haven, Thompsonville, Manches- ter, New London, Waterbury and Bridgeport have consulted lawyers in Hartford or in towns where they live, land Hartford lawyers have received letters regarding the company from lawyers in other towns of the state. Some of the contract holders say that lthey were told their contracts would mature in three months, but that they have been paying on them for more lthan three years. One contract holder told his lawyer that he went to the Hartford office of the company ana asked to see the books, so that he I1QlSnL 16dIIl5 Il ally Ol 5lIlS SOAtA 1S1o had expired, but his request was de- nfed and no satisfaction was given him. An officer of the company has said within a few days that about forty of the contracts had expired.
 l Judge Garvin of Hartford has placed an attachment on the office of the com pany in that city, and he also repre- sents large number of creditors in that city.
 Attorney Samuel Alderman repre- sents most of the creditors in this city, and he is cooperating with Judge Gar- win in an attempt to get something for his clients.
 Attorney Alderman recently received I the following letter from Judge Gar yin, which is self explanatory: Samuel Alderman, Attorney -at-Law Tontine. Hotel, New Haven, Conn. Dear Sir: Your letter of July 27 to hand and contents noted.
 There is disposition among the con- tract holders in the Equitable Home Assurance company here to join to- gether for the purpose of taking some action against the company. I have been consulted by number of the con- tract holders, and think that the re- suit will be that they will pool togeth-s 1 CT and take some action against the company in Providence. I understand