Rocky Ford enterprise., 1905-08-04
EQUITABLE IN COURT
NEW YORK STATE BEGINS SUIT
otheers Charged With Gross Misman-
ssement-ceurt Asked TO Gem
pei Them 20 Make Good
All Losses.

New York. July 5i.-An action was
Instituted to-day by State Attorney
General Julius -. Mayer In the Su-
preme Court Of New York county. In
the name Of the people OF the state OF
New York against the Equitable Life
Assurance Society. It's officers. direc-
tors and members OF the executive and
fiscal committees. all Of which are
named in the complaint
IL charges that the soelety's funds
have been grossly mismanaged and
wasted by the officers and directors.
and asks the court TO compel them 10
make good all losses caused by their
acts.
II recItes that when the Depew I'm
proyement Company failed Senator De
pew and associates promised to pay
the difference between the loans from
the Equitable and the amount realized
from sale of the Improvement com
pany's property, but that the promise
has no, been kept
The defendants are the Equitable
Life Assurance Society Of the United
States and James w. Alexander. Louis
Fitzgerald. chauncey II. Depew. Henry
&. Deming. Cornelius y. Bliss. George
II. Squire. Thomas u. Jordan. Charles
S. Smith. Valentine r. Snyder. Alvin
". Krech. William Alexander. John J.
Mccook. James II. Forsan. G. Ledyard
Blair. Drayton Ives. Melville E. ingalls,,
James II. Hyde. Alexander J. cassatt,
Jacob II. sehin. James J. Hili. r. JET.
fcrson Coolidge. Alfred q. Vanderbilt.
John Jacob Astor. William c. Van.
Horne. Gage z. Tarbeli. Marvin Hugh
lit, Charles Is. Alexander. Thomas De
Witt Cuyier. Mareeilus Hartley Dodge.
lwt
Joseph r. Lowe. John a. Stewart. Ed.
ward II. Hartman. Levi y. Morton.
Angus, belmont. Darius O. Mills. Rob.
ert T. Lincoln. George J. Gould. Joan
Sloane. George r. Wilson. Thomas T.
Eckert. William II. Mcintyre. Henry N.
Alexander. Henry G. frick. Samuel NJ.
Inman. Henry c. Hnrtick. David II.
Monat and Henry II. Winthrop.
The complaint contains twcnty-onc
sections and covers thirty.threc pages
Of typewriter matter: refers TO the
Frick committee report and tho invcs.
iigation made by State Superintendent
of INSURANCE. Hendricks: IL based on
Information and belief. and Attorney
General Mayer In his prayer to the
court says that action was brought
on behalf Of the people Of the state of
New York In tho public interests and
purtuhut 10 tue pEobih8ouh VI Jaw. ite
therefore asks:
"i-That tho defendants. each of
them. other than the defendant. the
Equitable Life Assurance Society of
the United States. account for their Of.
fetal conduct In the management and
disposition Of the funds and property
committed to their charge.
"2-That tho individual defendants
and each OF them be compelled TO pay
the defendant. the Equitable Life As
surnnce Society OF the United States.
any money and the value Of any prop
erty which they or any OF them have
to others or lost. or wasted. by vio-
lation Of their duties.
"3-Thnt any defendant or defend.
ants now director or directors or Of
ficers In the defendant society. upon
proof OF misconduct. be removed. and
that n new election be held by the
board of defendant society purely au-
thorized to hold same. In order to sup.
ply the vacancy or vacancies created
by the removal.
"i-Thnt the net surplus Of defend.
ant society. after deducting n sufficient
amount to cover all outstanding risks
and obligations. be paid to. or credited
to. or applied for the benefit Of. the
present policy holders In the Equit-
able In proportion in accordance with
the charter and with the law.
"5-That the plaintiffs have such
other further relief as may be Just.
equitable and profitable"