The sun., 1904-12-09

when the stock was offered for delivery
loans were called and the firm practically
had to suspend. Immediately the price
Of brokers selling out who could not deliver
the stock, and as result the firm is unable
to meet its obligations.
ing seemed TO have full faith in the ultimate
value of the shares and were inclined to hold
pointed TO examine m the Books OF the concern. ono
and. awaiting its report. the meeting ad-
In the meanwhile. negotiations are well
under way looking toward the purchase OF a
large block Of the stock by certain strong
this deal VIII viii be 'eIs eosed nST Sp Wthin the ne1t @
few days. In which event brokers and all
others , M interested inter will probably make profit
BROKERS STUCK WITH THE STOCK.
An attorney for the Montreal and Boston
company, who left the meeting Of the
creditors and was standing In the hall
| outside the doors Of the firms Offices at rs
Broad street. said:
meeting and they resulted in my having to
leave the room. They didn't like what
said, 30 now l am in the corridor. The
trouble is that the firm bought 600 shares
of Montreal aud Boston at sk yesterday,
and when it was 1T rendered to-day , they ~ could
The firm had a lot Of stock Of their own and
had been putting the price OF it up, using
the stock as collateral for loans with Stock
Exchange houses. This went all right
unit Friday, when some news bearing
on copper stocks generally got around,
but they kept the prices up In spite Of this
until yesterday, when the Gtock was thrown
at them in lunches from all sides and they
had to buy it to keep it above the figures
at which their loans were made. To-day
this stock, some II 7 900 shares, was rendered
to them. and they couldn't take it,
On the curb there was sold out under
the rule 5, 700 shares Of Montreal and Boston
copper stock for Stock Exchange houses,
two Of these being John M. Shaw d Co.,
for which $500 shares were sold at 7-lo,
and Alley, Conger d Co.. for whose account
800 shares were sold. Mr.. Conger said
that his firm received about 10000 shares
of stock yesterday morning to clear for
another broker, and when they presented
1t to Munroe d Munroe the latter firm
would not take it,
PROMOTION OF THE BOOM.
The campaign in Montreal and Boston
Copper has been carried On with much
publicity. great deal Of advertising being
done with offers by various firms to carry
the stock on small margins and to accept
puts on it as So a share. One Of the firms
advertising its willingness to accept these
puts was r. p. Ward 4 Co. Of lis Broadway,
which advertised that it would accept the
stock at any time within thirty days at Ss.
At the offices Of the firm yesterday It was
said that the slump IN no way anecUeu
the firm. The Stock Exchange house OF
Ives 4 Whicher Of 90 Broadway notified
Montreal and Boston stockholders several
days ago thatit would pay per cent. in cash
of the par value Of the stock for options on
II to purchase it before April at SO a share.
The firm Of Munroe d Munroe has been
established about four years, coming to
this city from Montreal. 1t has been best
known in Wall Street as managers Of the
underwriting syndicate of the Marconi
Wireless Telegraph Company, whose stocks
It helped distribute. Il was said yesterday
at the Offices Of the firm that the Marconi
company was in no way involved in its
tangle and that all accounts between the
firm and the telegraph company had been
cleaned up
The directors Of the Montreal and Boston
Company are Col. George Pope OF the Pope
Manufacturing Company, g. A. Fish OF
George W. Kissam 4 Co., A. Davidson Of
OF the Stock Exchange house Of John NJ.
Shaw & Co.. John F. Plummer, A. n. Loomis
and K. j. Morrison. Col. Pope is president
1t was understood in Wall Street that
committee of creditors would hold further
meeting, and it was expected that a satis-
factory settlement would be reached.