Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-12
AUTHORIZED BY COURT
SALE OF REAL ESTATE FIRMS IN
TEREsT IN BUSINESS.

Chief Justice CIabaugh yesterday author
izzed Guy II. johnson and Jos. d. Sullivan.
receivers of the firm OF Martin Bros. real
estate brokers. to sell to the II. r. How
enstein Company for $500 the interest Of
Martin Bros. In the rent and insurance
business and the card induces and lists be-
longing to the business. The receivers are
empowered by the order to forthwith de-
liver TN receipt of $500 all the rent agree
ments, leases. insurance lists and card
indices In their possession.
The court also set aside its order OF last
Tuesday directing the paying out by the
receivers Of certain rents collected since
April l by Attorney A. E l.. Leckie, rep
resentng the firm before the appointment
Of the receivers This matter will again
be called to the attention of the court
next week.
In connection with the diligent search
being prosecuted by Lee r. Martin. one OF
the firm. to locate the securities over
which his brother, Thomas R. Martin. Is
said to have had charge. it was rumored
today about the city hall that among the
Cancelled checks of the firm were found
number, the amount of which reached
nearly $4,000. drawn by the firm to the
order Of Thomas r. Martin and by him in
dorsed to a member of the stock exchange
Inquiries made by the receivers. 1t is
said of the broker in question revealed the
fact that In 1905 and 1906 he had purchased
for Thomas r. Martin blocks of stock or
Tue 1dpltdl lTdCtloH COMPANY, Niei Scii
thaler Linotype Company and Washington
Gas Light Company. The information is
that the purchases were made outright and
not margins.
The receivers it is understood. will COM
municate with the companies named in an
effort to find If the stock Is stiIl listed in
the name of Martin.
A person claiming to be conversant with
the firms business said to a Star reporter
today that the published amount of the
firms liabilities is greatly inflated: He told
of two incidents. which he said had come
under his observation, in which claims had
been made against the firm when in
vestigation showed that the claimant was
indebted to Martin Bros
Claim for $4,000
One of these incidents. the speaker as
serted, involved a claim for 5000 which.
he declared was not only wiped out but
overbalanced by loan said to have been
made by Martin Bros. to the claimant for
S11 900. The other case showed the
claimant to be indebted to the firm in the
sum Of $1,s00. it was declared
In the investigation of the firms books
by the receivers. 1t is stated there were
found numerous cases of duplicated notes.
In these cases, it seems, two more
Identical notes were used. purporting to be
secured by the same deed of trust Wher-
ever this occurs. 1t Is said. only one Of
the notes be good, and the holders Of
the others will lose. In their efforts to
trace transactions Of this kind the re-
ceivers are seeking information from all
persons who dealt with the Martins as to
the dates and amounts of their notes and
the location of the property securing them.
Mr.. Sullivan says the books of the firm
will not balance, for the reason that
number of checks have been drawn and
charged up to the various accounts. while
in some instances the checks have not
come in for payment and in others they
We're never sent out
The plan of the receivers is to close out
the Pennsylvania avenue Office as
the sale of the good will is concluded and
to place the books Of the firm in the hands
of an expert bookkeeper who will proceed
with the work of unravelinS the tangled
accounts While the receivers await fur
case.