New-York tribune., 1896-12-23
WI7HDRAWS FROM z. B. CUTHBERT CO.

THE RETIREMENT OF WILLIAM EUCLID YOUNG
ANNOUNCED on THE STOCK EXCHANGE
The announcement was made from the rostruin OF
the New-York Stock Exchange just before o'clock
yesterday afternoon that William Euclid Young had
withdrawn from the firm OF +. B. Cuthbert CO..
stock brokers. at No 30 Broad-st.
For some time a special committee of the Govern
ing Committee OF the Exchange has been invcsi-
eating charges that Cuthbert q Co. "bucketed
part OF their business In other words that In the
OF soma OF the orders given TO them they made
no actual transactions, although pretending to
customers that they did So
Jacob Kirkner n member OF the Exchange. re-
fused to open his books to show whether dealings
that Cuthbert & co. claimed 20 have had with him
were genuine. AS consequence at meeting OF
the Governing Committee December he WAS
suspended for one year
The accusations against Cuthbert Co, or rather
against William Euclid Young. the member ni the
firm who belongs to the Exchange. were brought
up before the Governing Committee at special
meeting December lG At this meeting ''eSh
charges were made. and the whole matter was J.
iourned TO n special meeting TO be held Dccem ''r
20. A regular meeting OF the Governing Committee
is 10 be held to-day but 1t Is not expected tna' 'he
Cuthbert charges will be considered In any way
Mr. Young retired from the firm of Cutabcrt d
Co. on the advice Of his lawyer that 1t would prob
ably place him In a better light before the Govern
ing Committee OF the Exchange. He Will still have
to stand trial. the same II he were n member Of
the firm.
BY the retirement Of Nj. Young. Cuthbert & Co
are left without member who belongs 10 the
Stock Exchange. The other members OF the hrin
are Edward b. Cuthbcrt and William Euclid Young
jr Mr. Cuthberts younger brother W. G. Cuth-
bert belongs the Exchange. but he can only do
business for the firm at the full commissions which
would leave profit for the firm Some members
of the Consolidated Stock ahd Petroleum Exchange
IN conference with Mr.. Cuthbert late yestcr-
day afternoon. and II was supposed he Vas arr"ng-
ing have orders executed on the Consolidated
Exchange. where lower commissions prevail
Cuihberf o. take in another
member of the New-Nork Stock Exchange. but II
the Charg "a against them are proved TINS member
will inevitably he commanded TO sever his connec-
tion with the firm In other words. II 'uthbcr' ~
Co are found guilty thcy will be allowed 10 have
connection whatever with the Exchange I'm the
future.
Cuthbert e. Co have been In existence firm
an enormous business. II Is reported t.a' Cuthbert
& co. are charged with having made arrangements
with n score more OF brokers to use their names
as having bought from sold stocks to the frm
when in fact purchases sales were made,
The Conside is said to have been ;he favoring
these brokers when actual orders vet" given out
by the nrm
Mr. Young IS OF the oldest members of the
Stock Exchange In length Of connection with H.
He Joined May s. 1863. He executed orders for
Commodore Vanderbilt. William H. Vanderbilt ami
Jay Gould NJ different times when they were active
IT. the stock market.