Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1905-08-03
EQUITABLERECEVER
CLAIM rHE SOCIETY IS HSOLVESr


III 6IuouuOu QtAAbA@AAS ~ -
last April suit was begun Thursday
IN tho United States circuit court fol
the Southern New York district 70
throw the entiFs sA2 900 900 OF TIT
aassts Of tho Equitable Life Assur-
ancs Society into the hands Of 70
osavsra, who shail 'take possession Of
ell tho ninda, assets and property
hold BIZ tha defendant society Of o.
cry chAractes and description and a.
minister the same - thay may b d.
rected By tho court
More than 10 pOaiyhoinen b tne
Equitable, representing @ dozen dit-
ferent states arc included @ COM
plsinants IN The present suit which
IL based In part upon the allegation
that the society has no funds with
which 10 meet III eDntmOus losses
and 10 insolyent
with J. WILCOX Brown, 0 MaryI
land. the holder Of q $4,000 policy. %
complainant. papers were filed hast
April to compel g distribution Cd the
SS4 900 900 surplus fund Of the society.
to compel the management to mako
an accounting 70 the poltcyholdara
and fos The appointment Of receivers
for the surplus fund. pending judicial
asceEtainment OF the FlsntS " t"" w
tcyh0lders tnelen x,, -,
Since the nllng " Una" Va" $3.50
sion was Obtained 70 mo Gn a S.,,
complaint since ~ oa n1Ha. 49,, ,.
was nled ~ othss pot"S""A' INV
intarEened IN the sui!, ~ - ~.
In the AMENDED D'll' wnlcn - ~ ..
more s~eeplnS ~ NS o"1- ~ ~ -. 80
its appea! for Fe'lel tna0 va ~ ,' -
inal bill 0 iaEn April tnesS - -.
porated many ctailOus ~" -. ~
FrtcE and HennEacXS ~ ~,
lished Some months la.at. t ~
alleSeS tnaA tne t-AAov - ..ssoat.
~ q miSnanaeemenV IN e ~
tEansncnmA tnat unrAD1S ~
Un@tw salaries nave Dn 49,
and th1 HaIge etnns "a -, n - ~ 'O -
ing from S2OpOO % 04NNAO"", ~ u,
lOug1nS to the sa1n InarancS tui, -
If the a1C1ety weSN dilcN1d " u On
remain uninvaned On GeUsif 10 nanA1
ind trust cDmpmtD vt11uns dueVuAOe
Interest, In mazU q w1dch banD end
trust companies ne Gaid oGACge ann
directors Of the GurisfR or many a
tham, vars larIp stDckhDidarA fcs tne
purpose If seeming pecmiaE5 nenen'
to such OHfCeas and diSectoTS nd1San-
ually; and such unfuS ana unIeaA-
able Clzh batanas edstad sin1 a
lsasa Ghs year 1900
RsC1ting thu purcnaD o. 1ne Hyus
sturA bV TAGmas p. Ryan tnS cm'
plaiut Than danias tho laGatty q hH
alati0n Of direCtMs Who are npH
stuCkhoadMs Of the ectsE% Tue nm-
paaint gnes ont
sThe assurance funds hhad " tne
sucdety have beu. framAlSmuy Gno
neg1EtfCily. and ue being vested
and mlsmanaged and iust 70 Che ca
tent OF many millions Of dollars; e u
wfthUui o legally chqgsn .hosrd q al
rectcts and inc reAA va1us " ws 49,
atty held % y % unX" ~"
iiatiuA 49,. -. -.
Rewriting % erAI ~ ".
derendMrt scGety mas Mau1N -
neg1Dduuy and ne09aI0"Ly M
aged and. tnsousn Hs 0 -
aeSntA mAsAuptops ua1e1 lIne 80 ~
surHnce rnnda tne ntppla-IA 49,. =
that ~the said detendant y vnCg IN
able To repay me aoun. sucu
wasted and mSappsop1sA1o1 s
to eaid flIad nf Nne Ooalt N 49,
annuitantA ana YOU
that the said CepenuanI Y xnUv ~
solvent IN consequence tn -
II is ri1tneI aaoeu 'aAs uao to y.
y Of me detenoants " NV ~
handA Or unoet eno uOHuv - -
sockholdera whose repreSentaeiVeo naYe
been guilty o. m'sapptOItI'Alt'o' 49,. ~.
fraud and neelec1 IN tne n ao1'
Of its affairs ana propeftv Ine Uus
mess and anatrs o. me sonety arg ~
q standstill; its morale - an 'nsuier
Is Destroyed Vnetever puslntss tA
do viii be q an enormous loss ana W
rincs on the part Of the present. POI
Icy holders. Their supreme mteresV .
to place the assets IN the hands o.
competent receivers, appointed oy 1nls