| Show I i i U RECEIVER f f FOR A m THE T f ff mm f UIT LIFE Lift Bill UI Filed in U S S Circuit Court Chicago o Asking That One Due Onelie Be Ue Appointed POLICYHOLDERS BROUGHT SUIT General Committee Arr Ar n e a i Conference With Supt of In ChIcago April Api 21 A bill bi for tor or the wp ap lP of a 1 receiver for rOl am time the able Life Ie Society of ot the United States mid eel sum HII al account accountIng lug Ing was WI tiled filed led In Iii II thu the United dr Il cult court coutt here hele today loday by h Atty Al I D J Schuyler Th petition petton Is IH Iliad In th the namu of Abraham und of ot the time society Sin on says 18 he ii holds n it I 2000 policy polky In tim II thu hu t socIety ol ly hi hil his Interests are urn being by h the time anti of the He lie le nismes lv J W 5 Alexander and auth Vim kl President H II 1 Hyde GI AG lH Syracuse N Y V April 21 The gen general Iel eral ersi of ot the I Life Lite society arrived today Rud arranged n ii I with Supt or Fraud Joseph Howes of nt was wall noUe of nt the tIme committee 01 1 I tee To 10 Mr mir h time thu state of ot Mr Mm h Howes flosses reviewed the time ac tic action Il thou tion of the I ti convention In lim fa favor tl ii vor 01 of and amid timen made madeRI an RI IU address He lie le deflated the thu agents were lyon weT In imi 11 position H to tim know what policy halleY policyholders holders I ders Tho rim Ii lii g con conditions I t t lied had a ha lullEd tho tl t ho policyholders 1111 ii hollems The he original plan 1111 of or tho thit founder he lie lieis slid is Id cont iii I izu t For O thu tho time thu Iho question of ot ownership of o 0 C the VAt vast Va it surplus rid ims hail ima I ii thou oU Time Tho time tinie hued hAd come lOle for tor the t he change and amid when hel the society could no 10 longer be tia regarded mega us its 1 tho t patrimony i mm t vi of ot one cue Olt man ilia mm He lt h he was Informed on 1 ii I authority ho ito said Nail sit kl t iii t HS 3 i or nm n 40 10 directors ii t do 10 to not notown lot own 01 the tho requisite amount of ot stock re mc required 1 by hy the charter There lhee IH is no IU animosity among the agents I Mr Mm h Hyde I ho sold but hut a n change must lull be he him of ot C him Ini lim made to 10 t o deprive a t 1 m menso melMO power poster he be hI wields The Tue commit committee tee promise effected was a mu I miserable one Ole 0 ne which si uk ii Is disappointing ii ian i I n g the t itt real realization Jul reit I of IC which will wi he be delayed by b litigation The lime policy In Iii the tue meantime stiffer Huler s1 Ir Ol he ht assorted asserted sits Ilia 1 o of ot hIs hi descent from t om time the founder For VOl lisi Ih i years yearn Or he had been Ien watched helped AIll I forgiven until sentiment wits was exhaust exhausted ed el K g 1 A Woods of or president of at tile the agents next addressed fd Mr 11 lieu Hen len He lie le told 1011 of ot tho the Immense tan tail tangible lUl gible Ihlo Interest of or time the agents and 1111 de tie declared that under the present system ter of control the tho stork stock lork could coull be hI transferred to 10 n a ty oven onn more dangerous then In rn Ii time the hull bill bil President W V Alex Ale Alexander ander ami Vice ll President James H J I I II Hyde I I I yde d are re charged with wi h misappropriation Ilso Ion inn t I nf ot funds and cull mismanagement h bill hiI Ilc IIII rye that thaI for or 10 0 the timo char chur charter charter amid time the laws of ter of ot the thic Ald o New Ness York have been bel violated Inasmuch mis U th this base failed to distribute tile the t of n f the th tho the Time The he Joll AId RO seven Resell In Imi number lumber holding policies of from roun to 10 Sl 8 I o I IA o Atty A I who tiled filed time the suld 1111 that time the n a I meet aol and ald decided 1 to t Ilke tithe ke the tue matter flatter Into 1110 the tho federal court ourt It Is their he lie le mild pm Id to tn hIve havi hll a appointed and alimi thus the of the society IchI ended endel so 80 that the poll holders nin have n a I Just die dis distribution I of at time the fund and tIll profits now 1101 no on 01 di hand No o further steps than thol tho Ihn request In II time the bill hi have been he Il taken for forte inc te appointment of 01 a l receiver but hul Atty AU Schuyler saul said that within n U few tew days he ime will 1 go Into Inlo court in ii this connection tion lon The rime he bill hi alleges thet for fol a I number of mouths months the pre anti vice sire prell president least dent and directors of ot time the corporation on us Red In a 1 L controversy In rela relation lIon tion to 10 thIs Ihl management linn nf of o time the bud iii ss of at time the th company and amid also 1110 In ill to time the disposition unit und 1111 of or time the This controversy It I Is lit declared Is lii proving detrimental i l rd md r destructive to 10 ih the business of ot time the corporation and Ild this the luit t 1 of ot time the pol policy try icy tr holders The ho It II Is he II nl mu Is between J Jamsa m W Alexander and H Ii 1 Hyde and other of the time society Time The petitioners allege mar on Oil 01 their part tint that the controversy corporation 1111 In II the Ihl of ot time the The Time bill bil further recites James W V timid and James Jamel H II I Hyde certain directors director and executive eX U UtO tive tivo tO heads of ot tho time corporation have In Iii violation of or the time corporations charter chArier and and time the thC laws of ot tin the Ih state of o New Ness York and converted money ind Ii mulCh assets of the company to 10 their own in iii II p C and anil have hl ha vs fraudulently um lea I I y lined iliad mini mm ll I lii hit d it ad i helps tei and a mm ml otherwise ut disposed of ot time the mooney money mono and amid Ind n lell In II Midi Mill 1 i way WiY amid manner that tile the tar cor corporation Imi h In lilet t 1 time the money mon auth mi del manipulated by h Hyde and other directors and Ind that tl I Alexander Hyde u I yule and a ld mit the ime Ihl t directors elred it I reit r have inada m liiK laige ns is a a result of lt these lan The Tue til while belong belonging jig ing to the time corporation have been nn 11 I i a iii I y mid it fraudulently no I um t I y retained reta iii eu and MII it nul nulI I I od by b Hyde lIle I I Ide and anul Alexander I to their own use le without any an account II for tor th t the HO so I used 11 or for the time AllN and profit to so 1 a I its un till In InI lawfully I 1 tl I and nd fraudulently made malte by liy theta them In th the manipulation of ot the assets The Tims agents were opposed to 10 ally Iny change chona which ltd did not hot coni the time In iii U of ot policyholders und and had aug ug Bested a I committee for rr as I trustees appointed by President Rooi noo e veil Pl or nr to 10 nat Oro Gro sue vor fr Cleveland or ur a 11 of ot lOge lexe I Ke presidents He II I ha believed hel level adverse In other could be bi pre entel by prompt action In New NI York Archibald Iu e of 01 Portland Maine followed with 11 l HendrIck In ilm 11 reply salu that he Imd imad expressed clearly In favor of ot and 1111 situ that h he WIS sure relief rolel could I be obtain od cut It h He lie le saul said fl hi that thit If it I Judge Maddux decides In tIme the Lord cult fult that he lie hits haM no power ower to put Jut In hI force forto the he t amended charter an mIll appeal will wil bo hc mato to II the time court of or appeals or to lu thu time States courts He lie le asserted that he lie did dill tint not nl believe belev the Ihl Hydo In hI 11 diluted the lord suits cults 11 I Mr Ir Lurd Is hi op opposed II Ii posed IUM to 10 the time in U I till I Ian t In mm plan il mu said MhlI hI Mr I II ks nily because he lIe believes his hi stock will ihil wi ba be bi Impaired by h time the charter Mr I r 1 ex ox expressed pressed In II favor of or the proposition thou tion In lim II thu nf Of time the oral eral ol representation ell tation upon time the Ih directorate 11 It only emIly n a question lestol nf tiC time when hel PolitY policy policyholders poll holders will wi be lie In tim II control In 11 closing clo ln Mr II Hon said And Auth 11 I will wil tell you Ol too that hut before I get gel el through with wih this company I wilt will wi In out omIt who vimo are dummies I 11 will Und Inc out ont absolutely You YOI omm can rely on omi this When Alman we W get lel done we wp will tell tel you nl time the true condition of or time the Ihl society I cannot tell lel how long Ionic It 1 will wil be whether days weeks or months tint but bi It 1 will wili 11 be he thor done In the meantime m the committee hiss has hii aled a questions which will wi take lako 3 or 40 O hays days do to 10 an Un answer In saver Another allegation 1 lon of tile the bill Jl ests ts faith foith that one on or nr more macre 1011 of ot time the and slid directors under tinder the time unlawful and Imd frau fraudulent nt lulle of ot pretenses of ot promoting the lumpiness business III of ot the time corporation by ail util have charged to time the company haige In IK amounts fix by h theta them for tOl their own personal use aunt ami 1111 pleasure null for or which the time corporation never received any mid ald that the Ia Is have had back lam c Ic to 10 I a the t he company Coil 1111 fly out omit of the money taken from frol time the assets mid used 1101 for t r their own on and atHI pleasure certain luire sums nf ot money lono 11 i It that these sums mums arc HI but hul an In In lii part halt of ot time the mount amount it drawn out of ot time the of 01 time the corporation and by b the for rol forI their I im ci u nun 01 0 III pleasure ami a nd Individual hid t V I RII not lot for fI em time the of ot time thu corporation lon nr am 01 Us its 1 The Time huh bill hii that tilt an ami 11 accounting he ime of ot time the Ih surplus mind assets In lii or order orIel orden den der that the time amount of ot stir mir lr plu for fOI distribution I let I may 1 be hI ascer ascertained A reservation reHm Is II made In II the time pet I tomi whereby s nil ni ii hi death tim ti it I ins nitty 1 I li is paid tiel should Id the us Ih t affairs ii fRh I re of ot the t lie com coin 1 Ida Ii y be he hI Involved I soil In I ii initiation I it lOut as lie 11 a it 1 re tt result I stilt sult 1 of time the bill hi Time The hp bill bil also aio asks that tho tile affair bo Iw h referred to In ns as al a 1 master IR tel In chancery so 80 that thai this due ehli to In each Ilch out ot of ot the time I surplus may mis 11 be he ii determined for tor time the purpose of distribution Time The h l llO further asks for tor Injunction restraining Helling manipulating or In tim any way WiY disposing of ft time the Ihl surplus soil assets of time the t except to tn pay iia death delih 1111 o amid that a I receiver welver be he le appointed tp In take charge of or the money mone iro erty and assets RS of ot time the company cO I pa n Supt were ap up applauded lp bv hut h thus the who this after lter lion muon 10 left for tOl Albany where they th will wi call upon by 00 Ilg tomorrow |
