New-York tribune., 1905-08-26
EQUITABLE ASKS RELIEF.
Continued from first page.

only to the defendants. James w. Alexander.
Thomas ID. Jordan Henry C. Deming and per-
haps to few others of the individual defend
to identity
AS this defendant is informed that there are
certain entries in some OF its books which do
relate to these transactions, but such entries
are obscure and unintegfble except TO those
who were cognizant OF had participated in
the transactions referred to. this defendant
uehies that IL became in any way bound 10 pay
to the Mercantile Trust Company the sum OF
S6So.oOO or any part thereof.
Finally admission is made of the payment OF
this $6S50OO to the Mercantile Trust Company.
on July IA last. but it is stated that this hap
pened only after the trust company had asserted
claim against the Equitable and after this
claim had been resisted and disallowed by the
present managing officers Of the Equitable.
The S2JO.0OD loan to the Depew Improvement
Company is next admitted. with a proviso
which states that this admission is restricted
to those of the Individual defendants who
were. ought TO have been, cOgnizant Of these
transactions
The directors then announce that exam
mation Of all facts in connection with the
Depew improvement Company is being
made with view to recovering either by legal
action by adjustment out of court. any sums
that may be found due to the Equitable So
ciety whether the persons possessing this
money are OfncerS or the EqulIaDle or OF Jue
Depew Improvement Company.
The mysterious s6s5OOO loan charge is
swered follows:
This defendant admits allegations contained in
paragraph II of the complaint. except in so far
as all the defendants, other than the defendant
society. are charged with having permitted the
transactions referred to; and this defendant al
leges that said transactions never came before
this defendants board of directors. and were
known only TO the defendants James w Alex
ander. Thomas D. Jordan Henry C. Deming and
perhaps to a few others of the individual de-
PENDANTS whom this defendant is at present W.
able to identify
This defendant further alleges I'm respect 10
so much of Paragraph II of the complaint
as states that there are entries upon the
books of this defendant in respect to the trans
actions referred to i'm said paragraph that
there are certain entries in some of the de-
fendants books which do relate 10 the said
transa ctions. but that such entries are obscure
cognizant of or participated i'm the said trans
actions and this defendant denies that by rea-
son Of said transaction it became in any way
bound to pay to the Mercantile Trust Company
the sum of S6S5OOO, or any part thereof
LOAN OF SGS5.OOO PAID
and belief, that 1t is true alleged in said
Paragraph II OF the complaint, that on or
about July II. 1898. the amount of said account
then aggregatng about $6S5.OO0. paid 10
said trust company by some person or persons
unknown to this defendant but this defendant
alleges that said payment made only after
the said Mercantile Trust Company had assert
ed a claim against this defendant and a right
10 charge said amount against the funds OG this
defendant then on deposit with the Mercantile
Trust Company and after this claim had been
resisted and dsallowed by the present managing
officers of this defendant.
Regarding the s25O.OOO loan TO the Depew In
provement Company. the answer reads in part:
An examination of all the facts connected
with the loan 10 the Depew Improvement Com
pany is now being prosecuted by this defendant
with view of recovering, either by action Or
be found due to this defendant from the per-
sons. whether officers of this defendant off,
GERS agents of or person interested in OF con-
nected with the Depew Improvement Com
pany, who may be found liable 10 this defendant
by reason of the transactions connected with
said loans.
The nineteenth allegation charges that the
officers of the society kept large sums of money
on deposit with the National Bank of Commerce.
the Mercantile Trust Company and the Com
mercial Trust Company. of Philadelphia. and
nineteen other banks, of which the same off,
cials We're stockholders; that the porcyholders
We're deceived in connection Herewith as they
were made to appear as $10O0O0O0 of loans
on collateral security, but which loans were in
fact. made on December % and called on Jan
uary 3, and the sums redeposited as claimed
greatly to the society's loss.
The defendant admits the allegation restrict
ing it. however. to those having immediate
knowledge of the transaction. Attached 10 the
answer is Paul Morton's affidavit as president
of the Equitable.
1I ~ IfTT DOT TUTTJ s<rC