The Providence news. (Providence [R.I.]) 1891-1906, 1905-07-31
DIRECTORS
TO ACCOUNT
FOR FUNDS

New York. July 31-Attorney General
Mayer, having at last decided to act
against the directors of the old regime of
the Equitable Life A~urance society, Is
10 bring suits today against these defend
ants James w. Alexander, Louis Fitz-
gerald, Chauncey NJ. Depew, Henry c.
Deming. Cornelius y. Bliss. George II.
Squire, Thomas u, Jordan Charles Stew
art Smith, Valentine p. Snyder, Alvin w.
Krech, William Alexander, John j. Nc
Cook. James B. Forgan. I,edyard Blair,
Brayton Ives. Melville L. Ingalls,. James
III. Hyde, Alexander j. Cassatt Jacob
II. Schiff, James J. Hnl, T. Jefferson
Coolidge, Alfred G.. Vanderbilt, John
Jacob Astor, William c. Van Horne.
Gage +. Tarbell Marvin Hughitt. Charles
p. Alexander. Thomas Dewitt Cuyler,
Marcellus Hartley Dodge. Jesse +. De-
Navarro. Bradish Johnson, Joseph T..
Low, John \. Stewart, Edward II. Harri-
man. Levi T. Morton. August Belmont.
Darius O. Mills. Robert l. Lincoln, George
J. Gould, John Sloane, George T. Wilson,
Henry NJ. Alexander. Henry c. Frck.
Thomas T. Eckert. William II. Mcintyre,
Samuel NJ. 1nman. Henry c. Haarstick,
David II. Moffat and Henry r. Win
throp.
ACCOUNT TO STATE.
The complaint will demand that the de-
PENDANTS account To the state for their
official conduct, their management OF the
company and the disposition made of
its funds and property committed 10 their
charge. that each Of the directors be
compelled 20 pay TO the Equitable So
ciety any moneys which he acquired by
connection with the society. and moneys
which under his management were lost
or wasted because OF neglect of their
duties as directors, or violation OF their
trust: that all OF the directors found to
be guilty shall be removed and that the
money recovered in the suits shall he
credited to the policyholders in equita-
BILE proportion.
Defendant Edward II. Hartman was
speeding yesterday in a swift special train
out OF Ntah for the Pacific coast, whert
he is 10 take ship for Japan 10 be alb
sent for six months.
A SPECIFIC PROVISION.
The attorney general has decided to
bring the suits, for the reason that with
out any statutes the courts have long
entertained actions to make directors or
trustees of corporations account for
waste, wrongdoing or neglect.
There is however. a specific provision
I'm the code OF civil procedure which reads
as fOllOWSs
Compelling the defendants TO account
for their official conduct in the manage
ment and disposition of the funds and
property committed 10 their charge
Compelling them To pay TO the cor
poration which they represent, or 10 it's
creditors. any money. and the value OF
any property which they have acquired
10 themselves or transferred TO others
or lost or wasted by "A violation of their
duties
Removing a defendant from his office
upon proof or conviction OF misconduct
and directing n new election TO be held
by the body or board duly authorized 10
hold the same. I'm order 20 supply the
vacancy created by the removal: or
where there are no such body or board, or
where all the members thereof are re-
moved. directing the removal TO be re-
ported TO the governor. who may with
tho advice md consent Of the senate nll
the vacancies