New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-01-10
RECEIVER STILL THERE
MunrOe 6 Munroe Fail to Occupy
old Offices.

Contrary to their announced intention the firm
of Munroe & Munroe, about whose activities as
managers of the underwriting syndicate of the
Montreal and Boston Copper Mining Company.
which succeeded in obtaining large loans from the
National City Bank, vice-president of which was
a member of the syndicate, and of whose suspen-
sion and alleged bankruptcy much has been pub
lished within the last month did not yesterday
take possession Of their former offices, in the Broad
Exchange Building and resume business. The of
fees at a late hour yesterday afternoon still
in the undisturbed possession of the receiver, J..
Henry Work. Notice of the purpose of Munroe &
Munroe TO resume business at the old stand" had
been conveyed to Mr.. Work in a letter from the
FIRMS attorneys Rollins & Rollins:
At 80 o'clock Messrs. Rollins and Crocker ap-
peared at the Office OF Munroe s. Munroe and held a
conference with the receiver. Afterward Mr.. Work
said:
They came down here to ask If l would be willing
to let the Messrs Munroe take possession of any
part of the offices If they should come to-day.
preparing a statement to present TO the court in
effort permission to the offices, and
court gave him permits sion would be happy 10 turn
over anything to Mr.. Munroe that 1 might be di-
rected to do.
Mr.. Work in letter sent yesterday to Rollins
e. Rollins, said:
AS to the results of the examination now, pend.
ing as showing the mans by which the firm OF
remind you that the assets turned over to the re-
proximateiy $500 the books, furniture and fxt-
ures and few shares of Marconi Telegraph stock
certainly meagre showing of assets with which
to meet the large Liabilities giIIgs of the firm qa
ceiver took possession. large amount of stock
was delivered to persons from whom the receiver
recovery of these stocks and the enforcement of
Liability 9 the Pb Ia to- hs @ h or m Se
itors this would seem. If realized, to constitute
claim little credit.
Half a score of attorneys were in the United
States District Court interested in various motions
10 be made relative to the Munroe & Munroe bank
ruptcy case. The first question was in regard TO
various lots Of Montreal and Boston stock which
had been pledged TO various brokers by Munroe &
Munroe collateral and margins protect
other shares of the same stock. The attorneys for
a half dozen brokers declared that their clients
had right under their contract TO sell the stock
without further notice to the receiver reimburse
themselves as far as possible the leans.
Maurice Untermyer, of counsel for the creditors.
asked the court to issue restraining order the
effect of which would be to tie up the stock in
the brokers' hands. The amount of the pledged
stock. Mr.. Untermyer said, than 125 900
shares, If the entire stock should be dumped
the market at once the effect would be. the attor
ney argued to send the price down to practically
nothing thereby wipldg out the receivers equity,
strained from disposing of the stock without giving
latter might make arrangements to keep the mar
ket from being glutted with Montreal and Boston
Judge Holt was inclined to think that the brokers
nad r the 30 rtTsDnT order the a9tor1e te
however, agreed among themselves to give the re-
celver few days notice before disposing of the
stock
Notice of motion had been given by Frank
Crocker, representing Rollins & Rollins demurring
TO the petition against his clients. and to compel
the creditors to file petition in bankruptcy.
The contention that the present petition was
defective Objection made to the allegation or
fraud on part of the bankrupt In relation to the
claim of John NJ. Shaw q Co.
The latter concern was employed by Munroe
Munroe to purchase 1900 shares of the Montreal
and Boston stock on December 7. the day of the
failure After $500 shares had been bought by Shaw
q Co. the petition alleges, the discovery was made
by the firm that the alleged bankrupts were also
selling the stock and that the transaction was
fraudulent.
Mr.. Untermyer admitted that the petition was in
some particulars incorrect. and said that he had
then in court amended petition which il was
proposed file at once. The filing of the amended
petition would Judge Holt said dispose of Mr.
Crockers objections and the demurrer tnterposed
bv him o tie petition a originally filed