New-York tribune., 1908-03-07
OLD EQUITABLE CASE Up
1ppeHate Diyiaon Upholds Dcmur-
rcrs Intcrp0sed by Board.

The Appellate Division sustained yesterday the
denurrers iuterposed by the old board Of directors
Of the Equitable Life Assurance Society ind1vld-
,1aIIv in the action brought by Attorney General
Jackson against the Equitable Life Assurance
Society and its board OF directors. The court r.
verses the iuterocutory Judgment obtained IN the
Supreme Court. granting at the same time tn MT-
Jackson permission to amend his action or SHTaraFS
his actions as against the members OF the board Of
directors
The action was brought by the Attorney Cen
oral against former and present directors ~ ~
F,u1Iitable Life Assurance Society 70 require them
70 account for their official conduct in the manage
n1Art and disposition of the funds and properly
committed TO their charge directors. and %
compel them 70 paw TO the society any money ana
the value of any property which they or any OF
them have acquired themselves or tra7SterTe1
n others or lost
c.,s-s+a zrpaaIs were taken by Levi ? Morton.
Chaunray NJ Depew Alfred G. Vanderbilt, r. q
Mills Marion Hughitt. o. o Ledyard, Gage h.
TarbeI Bradish Johnson. David r Morrat' george
T Wilson john J NcCook. Charles B AlexandeT.
George J. Gould. Louis Fitzgerald. James J Hill
Henry . Frick John Jacob AstOr, E H Harm
man. sir w C. Van Horne. J. F De Navarro. g. y
Squrre August Belmont. II. G.. Deming and sam
ua NJ fnr1an. and by Thomas he Witt tuvler. e7d
nv James " Alexander. William Alexander and
Henry NJ Alexander. and by Thomas n Jordan
and hv James II HYDE. and by William r Nc
Tntyre and by Joseph Low and Charles stewart
smith and by Valentine ? SNYDER from an inter
IorlItorv Judgment overrlling fhHt' dNIHf''' ' '-
amended complaint
There are thirty-two separate demurrers 70 tn-
cor,rIaint The demurrers intarp0sed hy ali t1s
anneIlarts excepting n O Mills present group
IN common. that is. that causes of action have
baen improperly united in that cause ot action
against tho den1Irring defendant mas been united
with \ cause Of action against another "f The
dafaudants in which he IS NOS interested Inc
ancsa1 of r .. Mills upon the ground that
farrs sufficient 10 constitute ii cause of arri'n
against him are not stated and the plaintiff has
no legal capacity TO sue
There are 1orty y-nIne Individual defendants.
tv-ont,--four OF whom had resigned or prior 70
August q 1893. when action was begun Their
terms of service began on dates fro" SfPt'r''eF
a fS59 to December e. 1894. and twelve % them
were not directors prior 10 October 81. l'e
There are twenty more charges IN tHe com.
piainr-
a. Is charged that the defendants borrowed money
from the society virtually lending tn th"n7 Ives
rbsr the defendants permitted the Equitable Trust
t.onpauv and rhc Mercantile Trust Company To
nav James II. Hyde large sums of money as salary
in addition TO the salary he was receiving from
the society. and that payment was made by the
society Of illegal expenses To various persons IL -
also charged that defendants permitted the society
10 loan Sree0 10 the DepeW Improvement Com
panv on Inadequate security. which. It is alleged,
resulted IN Joss To thc society of upward ~
SO 900.
Tho lona opinion was written by Justice Laushlin.
in which Justices Patterson and Scott concur
Justice Inxraham writes opinion, in which I.'--