New-York tribune., 1910-06-03
SUES FOR s5,OOO,OOO
All the LOO Members of the
Stock Exchange Named.
BANK NOTE COMPANY ACTS
Resort Made to Court In Con-
troversy Over Stock En-
craving Monopoly.

,,-.,so,. p 4. Thomas and the other
ooo ,-.o,,bers Of the New York Stock Ex-
q -r,,se. ifs secretary, George W. Ely, ano
q -. American Bank Note Company are
4 z,.,,e5 as defendants in A suit for S5.oe."~
damages brought yesterday in the United
Il c-s+es Circuit Court by the New forh
Rank Note Company. Of No 75 Sixth ave-
-,,e- which for years has been trying 10
break the engraving monopoly on the eA-
change enjoyed by the American company
conmorIy known as the Bank Note
Trust =,
The New York Bank Note Company al
,eees that IL has been injured 10 the
amount stated through the defendants nav
ir., caused II 10 lose more than % per cent
of its business by entering into a con-
suiracy TO have its work barred from the
exchange.
The original complaint. which was filed
Yesterday with United States Commissioner
Shields by Cass & APPEL. Of No SIS William
street. attorneys for the New York Bank
s Note Company. contains thirty-seven ale
8 rations, the chief OF which IS as follows:
q That the individual defendants, failing
10 incorporate said association 1.-the New
York Stock Exchange) so that ii might De
ssubiect 10 legislative and judicial control.
selves 10 compel interstate railroad com
ranies and the largegindustrial corporations
5of the United States. by reason of their
commercial necessities. TO have their stock
and bond issues engraved only by the de-
Efendant American Bank Note Company and
4its subsidiaries and allied companies.
Bond Engraving Trust"
81 II. has thereby permitted and caused the
FORMATION Of a stock and bond engraving
&tr1Ist. which substantially controls such
fhusiness in the United States and dictates
&eYorbitant prices for its work, 10 the per
sonal aggrandizement of the defendant
khank note company and the individual de-
kfendanfs who are stockholders or infiu-
entiaI therein"
Il one Of the allegations fn the complaint
was that William ". Heaton. chairman of
) the committee on stock list Of the eX-
change was a Stakeholder in the United
Bank Note Corporation, which is the hold
ing company for the American Bank Note
Company. This charge was Indignantly de-
MED by Mr.. Heaton. who said that he did
not oVn a share Of The stock Of the United
company or any of its subsidiaries. either
directly or indirectly, and neither did his
firm. and that any statement 10 the con-
Il I
nor his fellow members were worrying over
the outcome Of the litigation.
In addition 10 Mr.. Heaton. the complaint
also alleges that James B. Mabon, mem
H. Of the committee on stock list. and five
rnenlbers Of the governing committee are
b ockholders Of the United Bank Note Cor
roration. and that thirty-four Stock Ex-
xhange firms are now, or have been within
fhe last three years, owners Of stock in the
torporation.
Complaint Alleges Conspiracy.
Il is further charged in the complaint
.that The individual defendants among
whom are named J. p. Morgan. jr. John n.
Rockefeller. William Rockefeller Edwin
Eawley. James A. Patten and George J.
Couls, in pursuance Of unlawful purpose
and with the intent and purpose Of rfIining
Bis plaintiff and preventing il from carry
trE an-the, business Of stock and bond en-
craving. and preventing II from competing
With The American Bank Note Company.
Entered into and are now engaged in an
tnlawful conspiracy to prevent railroad and
other corporations which are, or desire 10
Become, customers Of this plaintiff from
fsving. stocks and bonds engraved by this
rsintiff, Under penalfy of refusing 70 ac-
tept for listing such stock and bond issues.
snd depriving said corporations and indus
fries Of the market maintained by such
Stock Exchange"
Alvan c. Cass. of Cass & APPEL who
Drew the complaint. said that the case was
based upon the theory that where there
'as a wrong there must be a remedy. and
that the present action consisted chiefly in
ling with the court a record Of a grievous
prong. in the hope that the court might
Discover and enforce the remedy
SunInonses for the defendants named in
fhe action were issued yesterday by the
court The defendants have twenty days in
hich 10 answer the charges in the COM
amt