The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-08-01
(By the Associated Press }

New York July 31.-An action was
instituted by State Attorney General
Mayer in the Supreme Court, New
York county. in the name of the peo-
pie of the State of New York against
the Equitable Life Assurance Society,
its officers, directors and members OF
the executive committee and finance
committees. all of which are named In
the complaint. The defendants are:
Equitable Life Assurance Society of
the United States, and James w. Alex
:fnder Louis Fitzgerald, ChaHncey NJ
pepeN, Henry. C. snemipge Cornelius
n. Bliss, George II. Squire. Thomas
-, Jordan, CHARLES 5. Smith. Valentine
p. Snyder. Alvin w. Krech William
Forgan, C. Ledyard Blair, Brayton
ala lIa ~. ln~als James II!
Hyde, Alexander J. Cassatt, Jacob Fl.
S,nt,l james j. Hill. II. Jefferson
Coolidge. Alfred G.. Vanderbilt John
Jacog Astor William c. Van Horns
Gage e. Tarbell. Marvin Hughitt,
Charles r. Alexander. Thomas Dewitt
Cuyler, Marcellus Hartley Dodge, Jose
+. DeNavarro, Bradish Johnson, JoE-
cph T.. Low, John a. Stewart Edward
n. Hartman. Levi p. Morton. August
Belmont. Darius Q. Mills, Robert L,
Lincoln. George j. Gould. John sloane,
George T. Wilson. Thomas I. ttckart,
William IL. Mcintyre, Henry M. Alex
ander Henry c. Frick Samue' NJ. Inn
man. Henry c. Haarstick, David ii.
Mofftt, and Henry r. Winthrope.
Edward II. Hartman on the eve OF
his departure for Japan, accepted ser
vice of the summons and today many
other defendants, including James II.
HYDE. were served through their prl-
vate counsel The defendants are al
lowed twenty-five days TO hle answer
The complaint refers TO the Flick
committee report and the inVestlga-
lion made by State Superintendent 0i
Insurance Hendricks and is based on
information and belief
The comuIaint asks that the defend
ants except the society itself account
for theiI. official conduct mi the man
anement and disposition OF 1he funds
and property committed 10 theie
charge.
THAT they pay the Equitable Society
"any money and the value of any
property. any of them. have acquired
ia themselves, or transferred 20 others.
or lost. or wasted, by q violation OF
their duties.
That any of them, now director
or directors or officers in the Equita-
ble Society. upon proof of miscon-
duct be removed and new election
held by the board of the society to
fill the vacancy.
That the net surplus of the society
after deducting sufficient to cover all
outstanding risks and obligations, be
paid to. or credited to, or applled Tor
the benefit of the present pollcy-
holders in equitable proportions, in
accordance with the charter and with
a law any further relief as may pc
inst aQlJit1 bile and profitable.
The complaint charges that the IN
iividual defendants, as directors. meg
Iigently, improperly and improVidently
performed such duties and have habit
ually and continuously and done or
suffered to be done. wrongful, illegal
and improper acts causing great
loss and damage to the society.
The defendpntS are further charoed
with having acquired or permitting
transfer to others, money property,
4. etc. of the society.
Dealing with the lease of premises
in New York to the Mercantile Safe
Deposit Company, the complaint saws
that rental was inadequate and disad-
vantageous to the Equitable Society
that James III. Hyde, Alexander Tar
bell. and other defendants We're direc-
tors in the Mercantile Safe Deposit
Company and thereby derived a profit
i'm violation of their duty to the Equit-
alNfp
The complaint declares that the
Equitable received but a nominal rent
for the premises occupied by the Mer-
camille Safe Deposit Company; that at
the time of the stock purchase 141O
shares out of a total of 1000 were
owned by James H. HYDE and the re-
mainder by others of the individual
defendants, some Of whom were Off
GERS in the Mercantile Safe Deposit
Company, and in the Equitable; that
the Safe Deposit Company then had
no assets beyond the lease )and the
good win.
The complaint charges that the in
dividual defendants ..wastefully. inn
providentiy and improperly permit