The daily morning journal and courier., 1905-05-10
RECEIVERS APPOINTED
 FOR HAIGHT & FREESE
COMPLAINTS MADE IN BOSTON AND NEW FORK.

Counsel for Receivers Declare the Brokerage Firm Insolvent-sIetropoi- itan Banks and Trust Companies Re-
 strained from Paying Out Any Money Deposited by the Firm-charge That Action is . Case of Spite.
 New York, May s.-on complaint Of
 Wridgway Bowker of Camden, N, j.,
 Judge Lacombe to-day appointed Wal
 ter D. Edmunds, of New York, and
 James D. Colt, of Boston, receivers in
 this state of the Haight & Freese com
 pany. Bowker's claims against the
 company amount to s3,5OO4
 Roger Foster, counsel for the receiv-
 CTS, charges that the Haight < Freese
 company is insolverit; that 1t has for
 long time been engaged in fictitious
 brokerage transactions. It IS further
 charged that members of the company
 have been guilty of misuse of it's as
 sets. The receiver Edmunds. was ln
 charge of the company's main oface to-day, but was unable to give any es- inmates 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. MT. Foster sald later that some assets of the firm had
 been found in the Seaboard and con solidated National banks, but they were insufficient to nxet the debts. Mr.
 Bowker's affidavit states that he depos- ited $6,5OO with the firms Philadelphia office, and alleges he was induced by George w. Turner to permit a man
 named Daniels to manipulate his ac- count. He further alleges that on Jan uary II, 1903, his account, without warn- ing, was closed out. Bowker swears that the firm bought and sold no stocks whatsoever and made up fictitious ac- counts of alleged stock transactions, which were given to it's customers. The firm had, the affidavit declares, more than 5000 customers whose claims
 amounted to more than a million dol | lars.
 An affidavit made by Arthur M. John son stated that lie had been employed by the firm in various capacities and in a number, of the offices. He also swore ] that no stocks were bought and sold on margins for customers and explained l at great length the method employed by l the firms managers in making Up the alleged fictitious sales accounts, so that each customer would be loser. Boston, May s.-The Haight and ! Freese company. stock brokers at S5 i State strset, this city, went into the hands of receivers to-day and all their
 offices, several of which are in this city, with many scattered throughout New
 England, were closed James P. Colt, an attorney, is receiver of the company,
 which is a New York corporation. The | concern was petitioned into bankruptcy
 proceedings by Mrs. Anna L. H. Weiss. administratrix of the estate of her hus- band.
 ! In her petition Mrs. Weiss set forth that her husband, who was g. stock holder, advanced funds which were to | be invested by the corporation. She Drought suit demanding an accounting, and failing to get satisfaction petition
 ed for a receiver
 l The Haight and Freese company was | reorganized about a year and half
 ago, when most of the men identified with the old concern retired. The cor I poration did not belong to either the I New York or Boston stock exchanges. The appointment of Receiver Colt was made by Judge Lebaron Colt in the | ,;, I,.ti in, fc Ef.itu
 Mrs. Weiss is q resident of Needham, | Mass.
 Mrs. Weiss, upon whose petition the receiver was appointed, charged in her I tpetition that her husband was induced l by the company to begin on September l F, 1902, to give orders for the purchase and sale of stocks and securities. He
 was. induced, she alleges, to pay on margins an aggregate of $5,SS0 in small CT sums until his death last February l After his death she was told that there was due on her husbands account only
 $160. She alleges that she was induced | to accept this sum and sign a receipt | for it upon the belief that that was all | that was due her.
 | She alleges in her petition that the whole account was fraudulent and so
 manipulated as to show a loss of the
 money her husband paid, and that the I company owes her S5,380
 I William H. Lillis, treasurer of the company, said tonight: Application will be made to the court tomorrow for a cancellation of the receivership,
 and shortly thereafter we will be doing
 business as usual. ''
 | Says It Is Spite Work. l New York, May 9.--At the office of