Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-05-10
Haight & Freese, Boston,
in Hands Of a Receiver.
Petition Made by wife Of
Former Customer, Who Lost.
canuanv Has Many Branch 0fticss---Pro
ceedings Also at New York.

Doeton Nav 5.-The Haight II FreeSe
=, e,ock brokers, of IS State street
,,is civ. went into the hands of re-
10. today. and their offices in this
s,ata we're closed. The company has
hr,nches scattered throughout New
Engiand.
lanes d. Colt an attorney, is re-
liver Of the company. which is n New
york cornoration. The concern was pc
,;tio,ed into recelvership proceedings
Nv Mrs. Anna l.. II. Weiss, admins
,ra,rix of the estate of her husband.
In her netition Mrs. Weiss sets forth
,h,t her husband. who was stock
hoId.r advanced funds which We're to
be invested by the corporation. In her
suit she demanded an accounting and
f,iling to get satisfaction receiver
vas demanded. The appointment was
made in the United States circuit court
here by Judge Colt.
TIL. Haight & Freese Co. was reor-
sonized about Il year and n half ego
when most of the men identified with
the old concern retired. The corpora
ton did moi belong to either the New
York or Boston Stock Exchanges. 1t
was regarded as the largest so-called
bucket shop house in the country.
At the offices of the company on
Doane and State streets. half a dozen
sronps. most of whom We're custom
ers. stood about the halls and CORR
doris discussing the appointment of a
receiver. a step which appeared to
have SURPRISED most of the patrons.
op,n, but few persons were permitted
to enter. The board rooms We're closed
and the wires were idle. The men in
charge of the Boston offices declined to
discuss the FIRMS affairs at length. The
manager said:
I'VE fail to understand the courts
action. We have never failed to meet
anv legitimate demands made upon us
and We are prepared to meet any that
may hn made"
The managers were in conference
with their attorney. this afternoon. Re-
,eivrr Colt is in Charge Of all the prop
srty IN this state and he has qualified
by giving Il bond Of $4,000. The reCeiv-
81 is uncovered to hold the property
Of tie Ilaisht & Freese Co. whether
.Charlns II. Poor. Junior manager: Will
linn G. Conking. William II. Little.
vice president and treasurer, Cashier
PcHrdeslry. George G.. Turner or Har-
vey Watson directors.
The company has large Office in
Philadelphia and another in New York.
besides branches in many of the small
q cities of the country.
AT the conclusion of the conference
with counsel. n statement was issued
to the effect that the appointment of n
receiver for he company had been made
Without notice of any kind. the first
knovl, ,lgc the concern had of the ac-
ion being when the United States
marshal appeared ut the office with the
receiver 1t is alleged that all claims of
Mrs. Weiss as administrators of the eS-
tate Of her late husband had been set
tied and that in view of the alleged
appoint mcnt without notice rs we'll as
on the ground that the person seeking
the appointment was not creditor,
the company would Immediately apply
for the cancellation of the receivership.
Mrs. Mciss, upon whose petition the
receiver was appointed. charged in her
petition that her husband was induced
by III. company to begin, Sept. II. 1902,
to give it orders for the purchase and
sale Of stock and securities. He was in
duced she alleges. to pay an aggregate
IT $3.50 in smaller sums until his death
last February. His payments We're on
margins After his death she was told
that there was due to her on her hus-
binds account only $3.50. Sh" alleges
That she WAS induced to accept the lat
Ter sum and signed 4 receipt for 1t. up
on the belief that that was all that W.:
due her She alleges in her petition
that the whole account was fraudulent
and so manipulated as to show Il loss
m the money her husband maid and
That the company owes her $3.50.
VIM II. Lilis, the treasurer of the
company. said. tonight:
Application will be made to tho
court tomorrow. for a cancellation 81
the receivershiD. There will be some
WlEg doing when we bring our facts
before tn" court. and shortly thereaf
Ter we will be doing business as usual.
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