The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-08-13
FIGHT BANKRUPTCY
To ESCAPE
PUBLICITY
cURRiE CUSTOMERS TRY TO
SAVE THEMSELVES FROM LIME
LIGHT INJUNCTION AGAINST
BOSTON FIRM TO BE DISSOLVED

Pressure by the many customers OF
Cameron Currie & Co., who do not
wish their names to come out In court
proceedings is being felt in the move
ment TO sQuelch the bankruptcy pro-
ceedings. II the three peuuoning
creditors do not withdraw, IL Is ex-
pected that Currie and his partner.
Louis II. Case, will contest the case
in the interests or these customers.
Griswold-st is just learning how &C.
we're a blow TO stock speculation Was
struck in the Currie failure. Sales o.
securities have been much affected, II
is said, but especially those OF spec
ulative nature Business men or al
grades are worried az the outcome OF
things with regard 10 the investments
and the tendency has been 10 checK
buying.
I'm smiling" said one man who Just
returned from foreshortened vaca'
ton. Il thought | would come home
and show people on Griswold-st. that
am all right yet"
IL develops that the three petition
Ing creditors who filed the bankruptcy
petition will not be losers through nav
ing brought the petition. in case there
is an adjudication, II is customary In
bankruptcy cases to give the petition
ing creditors an allowance 10 cover
the cost OF starting the proceedings.
Firm Had Women Clients.
Inspection OF the many petitions
filed in the circuit court shows that
women customers furnished much OF
Cameron Currie & Co.'S trade. They
dealt with this firm as the oldest es-
tablished and supposedly the safest
Not all Of these deals were specula-
tive. Many were in the nature OF per-
manent investments and the disappear
ance of the collateral which is charged
I'm some cases means a severe loss to
the customers unless a good settle
ment is made in winding up the com,
pany's affairs.
II understand that the creditors
who have begun these proceedings do
not wish receiver appointed until
they have been joined by other cred
itors." said Harlow p Davock, referee
in bankruptcy, Wednesday morning.
Il will not appoint a receiver except
after that due notice through the press
for "a hours and after a hearing in
the United States court"
Mr.. Davock says that until there Is
an adjudication in the bankruptcy
proceedings the state court. which now
has charge OF the case, continues its
jurisdiction. II there be an adjudica-
ton however. the proceedings in the
state court from the time the bank
runtcy action was started would be
subject TO review.
To Dissolve Injunction.
A notice addressed ITO whom IL
may concern" was circulated among
the attorneys interested in the Cam
eron Currie case, Wednesday morn
ing. giving the information that for
NAL motion will be made before Judge
Mandell Thursday, for an order dis
solving the injunction restraining the
sale of the securities now held by
Hayden. stone Il Co. The notice was
unsigned. but il is understood 10 come
from several attorneys who FAVOR ths
dissolution of the injunction.
The motion will be made by the re-
ceiyer. and II Is understood by that
official that no opposition will be Of
fered. With the dissolution OF the
Injunction Hayden, Stone & Co. will
dispose OF securities worth $l,500.O00,
which, since the rise in the market
have increased in value over Sl25.OO0.
HAYDEN, Stone & Cos claim against
Cameron Currie IL Co. amounts TO 81
900 900. and the balance OF the cash,
about $325.00O. will be turned over TO
the receiver.
IL Is generally understood that Judge
Mandell will grant the order. as he
has intimated more than once that
the present arrangement is one OF
great responsibility for him. owing 70
the fluctuations OF the stock market.
AS a "spe culator' the judge has been
success. the market having risen
steadily since the injunction was Is
sued
Although the time for filing interven-
ing petitions has expired. two more
we're entered In the circuit court We'd
nesday morning
William j. Phipps. OF Mackinac.
claims to have owned free Of all lien
% shares Of Foster Cobalt. five shares
OF Nipissing and 90 shares of Silver
Queen, which he left with Cameron
Currie & Co. for safekeeping. The
stock is now pledged with Hayden,
Stone * Co. he alleges.
Irving w. Green alleges that 200
shares Of Cobalt Queen. owned by him.
has gone the same way. He claims
that the stock was paid for In full,
and that Cameron. Currie & Co. owed
him $40.