Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1905-05-13
RECEIVERS FOR HAloHT & FREEsE
Brokerage Firm Charged With Fictl.
tious Transactions.

Brokerage Firm Charged With Flctl.
tious Transactions.
New York. May 1O.-On complaint
of Wridgway Bowker, of Camden. N.
j.. Judge Lacombe appointed Walter
ID. Edmunds. of New York. and James
ID. Colt, of Boston. receivers In this
state of the Haight & Freese company.
Bowker's claims against the company
amount to $4,000.
Roger Foster, counsel for the receiv-
ers. charges that the Haight & Fresse
company is insolvent, that II has for a
long period been engaged In fictitious
brokerage transactions. II Is further
charged that members of the company
have been guilty of misuse of its as
sets. The receiver. Edmunds, was In
charge of the company's main Office.
but was unable to give any estimate
of its assets or liabilities.
Judge Lacombe also granted an order
restraining New York banks and trust
companies from paying out any money
deposited by the firm. Mr. Foster said
later that some assets of the firm had
been found In the Seaboard and Con-
solidated National Banks, but they
were insufficient to meet the debts. Mr..
Bowker's affidavit states that he de-
posted $500 with the firms Philadel-
phia offices. and alleges he was in
duced by George w. Turner to permit
a man named Daniels to manipulate
his account. He further alleges that on
January IL. 1903. his account. without
warming was closed out Bowker
swears that the firm bought and sold
fictitious accounts of alleged stock
transactions. which were given to its
customers. The firm had, the affidavit
declares. more than 5000 customers,
whose claims amounted to more than
$1,000. 900.
NEW POINT IN CHURCH UNION
1t Is Now Questioned " Courts Would
Approve Merging Of Prcsbyterians.
Philadelphia, May 11.-After two
years of agitation on the question OF
union between the Presbyterian and
Cumberland Presbyterian Churches.
and after both bodies have decided the
issue favorably. the point has been
suddenly raised on the eve Of the
meeting of the two general assemblies
whether such a reunion will be valid
and sustained by the courts. An emil
nent Presbyterian layman, Judge Will
liam NJ. Lanning. of the United States
district court of New Jersey, declares
that the united church would not have
legal right to the property of the
Cumberland body.
Judge Lanning made this statement:
Though union has been formally
approved by both churches II Is not
yet effected. Further action is neces-
sary. The Presbyterian church has APP
proved the basis of union and also
amended Its standards to comply with
the condition las to separate presby-
teries) imposed upon 1t. The Cumber-
land church has approved the basis OF
union, but has not amended its stand
ards. The doctrinal standards of the
two churches must now be brought
into one form, the basis of union hav-
ing settled what that form shall be.
"The Cumberland church should
now, in the manner prescribed by its
constitution. that is by sending over
lures down to its presbyterfes for their
adoption. amend its standards SO that
they shall be the same as the stand
ards of the Presbyterian church In the
United States of America. Such pro-
cedure is necessary to assure to the
united church all the legal and cor
porate rights and powers which the
separate churches now possess"