The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-30
TO GET EQUITABLE TO COURT
BRACKETT BELIEVES HIS SUIT
WILL BRING OUT TRUTH

About Every waste OF the SOciety's Funds
That Is Aneged-May Join More De-
fendAnts-Tul wants 10 Examine
Hyde About Dummies Before Trial.
Senator Edgar T. Bracket was in town
yesterday comforting with several persons
In Il -ested in Equitable matters about the
action which he is to bring with the con-
ssnt Of the Attorney General against the
Equitable and certain OF its directors to
recover moneys Of the society which be
alleges have been wasted. Mr.. Hyde q
attorneys, it was said yesterday, were
especially interested in getting a line on
Senator Brackets plan Of campaign. A
representative Of at least one firm Of at
torneys representing Mr.. Hyde went 10
see the Senator yesterday and attempted
to get some light, but Senator Bracket,
IL was reported, did not shine. OF at least
what he did tell the Hyde lawyer was rot
the kind Of news that he wanted TO hear.
As a matter Of fact. Senator Bracket
will take steps almost Immediately 20 get
his action under way in Saratoga county.
With the consent that the Attorney General
has given TO him, there is not, in his opinion,
a single one Of the charges whoh have been
made against the Equitable Officers and
directors that cannot be thTeshed out fully
before the public in the action. That he
will be able to get his case tried In a reasO ma
bly, short time was the opinion he expressed
yesterday. When asked how that was,
whether the calendar in Saratoga county
wasn't crowded, the Senator replied:
i have reason 10 believe that there will
not be any very great delay in getting ac-
ton In this case
In regard 10 the report that Mr. Bracket
would name as oodefendRnts in the action
Senator Chauncey NJ. Depew and Z. II.
Hartman, In addition to James u. Hyde
and Jacob II. Schii, Mr.. Bracket would not
talk beyond saying that IL was his intention
10 bring into the suit every director or
ofiioer against whom there was good ground
for believing that he had used his official
position for personal gain.
A. Edward Woodruff, counsel for Herbert
@, Till In his action now pending in the
Supreme Court TO determine whether or
not the stockholders have any right Of
ownership in the Equitable's $50, 900 900
surplus, announced yesterday that he
would apply to the court next Tuesday
for an order TO examine James n. Hyde
before trial on matters relative 10 the
voting Of his stock In the society. Mr..
Woodruff says that he will make an en9rt
TO have President James w. Alexander
and Gage +. Tarbell also called TO the wit
ness stand for examination concerning
the dummy directors Of the Equitable,
Besides the original suit Tull also has
pending in the supreme Court an action
junction restraining the Equitable and the
State Superintendent Of Insurance from
further proceeding 70 carry into ehect
the proposed amended charter.
In the afidavit on which Woodruff will
ask for an order to compel Hyde and the
others TO appear in court he will assert
that he desires Information on which TO
file an amended plea containing specific
allegations, He wants to ascertain who
voted the Hyde stock at the meeting OF
the board Of directors on Feb. Is, at which
the amended charter was adopted At
that meeting, according 20 Mr.. Hyde's
counsel, Tut contends, MIR. Hyde
voted $40 shares Of stock. There were
thirty-sight directors at the meeting, rep
resenting In all $40 shares. As the charter
OF the society requires that each director
shall be the owner Of five shares Of stock
and as Mr.. Hyde alone voted $40, Woodruff
argues that there were twenty-five directors
IN the meeting who were not qualified
twenty-five dummies. He will assert on
this ground that the charter was not legally
adopted and that II cannot be enforced.