The Providence news. (Providence [R.I.]) 1891-1906, 1905-12-30
BROKERS
ASSIGN
AT BOSTON

Boston. Dec. SO,-The recent boom in
copper stocks on ..e Boston stock ex-
change. when prceE went up In bounds
was an important contributing cause 10
the suspension yesterday ~ the stock
brokerage firm OF II r.. leighton & Co.
which assigned for the benefit OF its
creditors.
Although the firm is not a member OF
any stock exchange. the assignment was
adjudged OF considerable importance from
the fact that the frm has some 40 branch
offices; an but three OF them m New Eng.
lana cities and towns. The outside offices
are at Montreal, Halifax. - S.. and ST.
Johns. n. +. The assignee Is Charles h.
Allen. lawyer. of this city.
In a statement the firm declared that
the suspension was due 10 the failure Of
a member OF the Boston stock exchange
10 meet his obligations 10 the company
and 10 outstanding investments-in cop
pers 20 a greater or less eNtent--upon
which necessary money could not be real
tied
Assignee Allen said this afternoon that
he hoped 10 have the affairs OF the com
pany Strengthened out soon and then TO
continue the business as formerly.
The firm Ia West virginia corporation.
@. l. Babcock IL president and III. II.
leighton secretary and treasurer. In
THIS ndn city Ise m .s 9SG1PSed two 99fs
The failure had no effect OF any kind
upon the stock market The losses are
distributed among individual investors.
most of them living outside OF Boston.
No official statement OF liabilities and
assets OF the firm was issued today. but
IL is thought that the liabilities amount
20 about half n million dollars.
The firm was n member OF no stock eX-
Change, but had branch offices I'm various
New England cities and transacted a
large brokerage business
Al the Office OF the Arm the statement
was given out that the trouble was due 10
the failure or member OF the Boston
stock exchanges 10 meet his obligation.
and 10 the fact that money could not be
realized at once on certain outstanding In
vestments.
The arm Of II. R..Leighton &, Go. had
20 branch offices I'M New England and
Canada. The firm is composed OF Il: r.
Leighton and II. w. Pattee. and its office
IS AZ 246 Washington street. The assign
ment was made 20 Charles K. Allen or
this city. No statement was made by the
frm as 10 liabilities or assets.
An extensive business was done IN an-
vertising, the advertisements appearing
at practically the same time that Thomas
w. Lawson made public statements in the
advertising columns predicting huctua-
fions In the stock market
The Massachusetts cities at which
branches were In operation Included
Springfield. Worcester. Lawrence. Lowell.
Lynn New Bedford and Fitchours
Bangor, Livermore Falls. Rumford Falls,
Bfddeford and BHtfT.
In Vermont there were agencies In
Morrisviile Woodstock. Bennington. Brat
tleboro. Bellows Falls and St Johnsbury.
In New HAMPSHIRE offices were main
tained at Concord. Keene. Woodsville.
Berlin and Dover. The Vermont connec-
tions were at Rutland Montpelier Nor
risvllle. Woodstock Burlington. Brattle-
boro. Bellows Falls and 81. Johnsbury
In Rhode Island there were offices at
Providence and Pawtucket.
The Canadinn branches were at Mon
treaL Can. st. Johns, y. f., and Hail.
fax, ". =.