Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1905-08-05
ANOTHER SUIT
AGAINST EQUITABLE
II New Cases and Five More Deaths
in New Orleans
GUARANTEES ARE SEVERE

New York. Aug. IAN action was
instituted by State Attorney General
julius n Mayer in the supreme court,
New York county. in the name OF the
people OF the state OF New York.
against the Equitable Life Assurance
Society. its officers. directors and
members OF the executive and finance
committees. all OF which are named
In the complaint Among the defend.
ants are. The Equitable Life Assur.
ance Society OF the United States and
James w. Alexander, Chauncey 81.
Depew. Cornelius n. Bliss, Brsyton
Ives. Melville e. ingalls,, James II.
Hyde. Alexander J. Cassatt Jacob II.
Schin. James ]. Hill T. Jefferson
Coolidge. Alfred G. Vanderbilt. John
Jacob Aston Gage Z. Tarbell. Marvin
Hughitt. Jose r De Navarro, Edward
II. Hartman. Levi z. Morton. August
Belmont. Darius o. Mills, Robert T.
Lincoln. George J. Gould. John Sloane.
George T. Wilson and Henry c. Frick
The complaint contains 81 sections
and covers 80 pages OF type-written
matter. refers to the Prick committee
State superintendent of Insurance
Hendricks. is based on information
and belief. and Attorney General
Mayer in hts prayer TO the court says
that the action was brought on behalf
OF the people of the state Of New
York. in the public interests and pur-
suant 20 the provisions of law. He
therefore asks:
1.-"That the defendants. each OF
them. other than the defendants. the
Equitable Life Assurance Society OF
the United States, account for their
Official conduct IN the management
and disposition OF the funds and prop
erty committed 10 their charge.
2.-"That the individual defendants.
and each Of them. be compelled TO pay
the defendant. the Equitable LIE As
surance Society OF the United states.
any money and the value OF any prop
erty. which they OF any OF them. have
acquired 10 themselves. or transferred
10 others. or lost. OF wasted by vio-
lation of their duties.
2.-"That any defendant or defend
ants. Esw director or directors or
officer In the defendant society. upon
proof OF misconduct De removed and
that a new election be held by the
board OF the Ge.sndant society. purely
authorized % hold the same. In order
TO supply the vacancy or vacancies Gre
ated by the removal.
4.-"That the act surplus Of defend
ant society. after deducting a sufficient
amount TO cover all outstanding risks
and obligations. be paid 10. or credited
20. or applied for the benefit OF. the
present policyholders in equitable pro
portions. in accordance with the char.
ter and with law.
5.-"That the plaintiff have such
other or further relief as may be Just
equitable and profitable"
The complaint also charges: That
the defendants wrongfully caused tn,
defendant society and a number OF
other societies and corporations In
which the defendant society was a larg,
stakeholder. and in which some of said
individual defendants were also direc
tors and stockholders, to pay larg'
sums OF money TO themselves. or som,
of their number, and to other persons
under the guise OF salaries and fees
for attending TO their duties as officer,
and directors and members OF commit
J tees OF the defendant society. and O
several other societies and corpora
| tons"
Especial mention Is made OF the re
ceipt by Mr.. Hyde OF salaries sggre
eating s27.O annually from the Equit
able. Mercantile and Commercial Trus
companies. in all of which the Equita
BILE Life Is largely interested"
| Allegation is also made Of the pay
ment of illegal and excessive pen
sions TO various persons" and OF tn,
payment OF excessive. improper ant
unwarranted sums 10 various attorney
and councillors at law, the aggregate
amount OF which far exceeded and wa
entirely disproportionate to the ser
vices rendered"