New-York tribune., 1912-03-31
IHAYER, Of SMART S;ET,' '
SUES COL. ". D'A. MANN
sIIeues s15O,OOO Profits, Con-
' verted Into Realty, Went to
Mrs. Emma Mann Wray.
.wsoN GOT NO DIVIDEND
,,,bor of "Frenzied Finance
passes Stock to His Publisher,
Who Demands Receiver
Justice Deuel. Defendant.

,,bn Adams ThaNer, fCrmerlN aSsoci-
...s with f. J. Ridgway in the publica-
~. of "Everybody's Magazine ami
-. little more than month ago
oh, from Colonel William dalton
,,,,, the controlling interest in the Ess
e. Companv. publishers of The Smart
G., q monthly magazine, began suit
..s,srdav in the Supreme Court against
-, defendants. with Colonel Mann
"a his daughter. Mrs Emma Mann
~ ,s r~,rrfpal defendants, alleging
...r5,rert appropriation cf the funds Of
the company.
rrstice Joseph VI. Deuel. of the Court
., srecial Sessions. and Mrs Sophie
y,,7 wife Of Colonel Mann. were named
- attendants hv Thayer. but he makes
:. clear that he expects no relief from
,,sr, IN the action. but only from Colonel
,f,rr and Mrs. Wrav colonel Mann is
,srbaps best known through his pubh-
,,tior Of Town Topics
Srerfcal.r Mr. Thayer charged in his
complaint that Mann, between the years
1a,0 and 1903 fraudclenIv withdrew
and misapnropriated from the funds ot
.hs Ess Ess Company S15OOoo or a sub
SANTA, rarr ~ this amount. with which
he bought land and tonemen,s which he
rlaced IN the name Of his daughter. Mrs
Wray.
Magazine Stock and Profits.
Nr Thayer said that Colonel Mann pro-
NOTED the Ess Ess Company in 1901. The
concern had a capital stock Of 100000.
The plaintiff Eot control Of the maga-
zine by the purchase Of thirty shares u
The preferred stock at $1,000 a share,
there being $4,000 worth outstanding.
He also gave $50. 600 in notes. and bonds
valued b. 100000. Mr. Thayer had sat
isfed himself that in 1902, 1903 and 1901
the magazine had earned $7S193, S92
9S5 and S65 045.
Mr Thavar bought his stock from
Thomas W. Lawson, the Boston fnan-
cier. with whom the magazine publisher
had been associated in the publication OF
Mr. Lawson's book, "Frenzied Finance. "
Mr Lawson had bought some Of the
stock from Colonel Mann. but he had
received no dividends, according to Mr.
Thayer Colonel Mann having told him
that there were no dividends available
for stockholders. Il was not until he
had taken charge of the property that
NJ Thayer discovered the condition Ia
the affairs Of the company that he de-
scribed in his complaint.
The Property Sued For.
The plaintiff submitted in his COM
plant list Of the properties that ha
charged Colonel Mann bought with the
money Of the Ess Ess Company and
placed in the name Of his daughter
They are No. 80 10 324 West 3Sth
street Nos. 326 and 82S West 3Stl
street, Nos. 82- and 800 West 37th
street and No. 323 West 37th street.
Al these were bought 10y the princira,
defendant by the alleged wrongful con
version from the treasury Of the Ess Ess
Company. said Mr.. Thayer. As 10 tn.
defendants other than Colonel Mann and
Mrs. Wray. Mr.. Thayer said that they
failed IN their duty as directors, al
though he does not expect any relief
from them in his suit. What Mr.
Thayer now asks is an accounting Of tn,
rents collected from the propertie.
bought with the money of the Ess Es.
Company as alleged, the appointment o.
q receiver for the properties and an in
Junction restraining the defendants
from selling the properties.
The announcement Of the change OF
ownership Of The Smart Set" was made
on February p. Colonel Mann said that
ne parted with the magazine because hi,
many other interests left him no time
10 devote to IT, The colonel added: 81
gct big price for it. and # was worth
Il The Smart Set has made $500. OOC