The Detroit times., 1908-12-16

customers. Currie explained that the
Boston firm held the relation OF bank.
er and broker asol and dheld Cameron
Currie a. Co. responsible for every
thing.
Turned over All His Property.
During the first half OF the year.
Currie said, he had drawn out $l3 800
In cash and deposited with the firm
$4,000 In securities on which TO get
money. He drew only $500 a month
for his living expenses. all his other
Withdrawals being for investments.
All his property OF every kind except
wearing apparel he had turned over
10 the receiver. His wife Is the bene-
ficiary In sS7 900 OF life insurance and
also owns the family automobile. BY
losing his stock exchange seat, he lost
the $4,000 life insurance accompany
ing IL.
What are your present means OF
support"
My salary from the Michigan
Street Car Advertising Co. simply
aid them in getting contracts. | have
no money or other property on depos-
IL anywhere"
Trustee Fred G.. Austin stated, af-
ter adjournment that he now has on
hand s35S,000 OF money secured from
the assets OF the bankrupt firm. The
fund may be increased by portion
OF the sum realized from sales OF
stock exchange seats and there Is a
possibility OF getting some money
from Hayden, Stone e. Co. Until the
preferences are settled. there is NO
way OF telling whether the general
creditors will get anything or not.
An Innocent Abroad.
Cameron Currie appeared in the role
OF the innocent partner In the
hearing. Tuesday afternoon. His
testimony threw the entire blame
OF the crash which spewt away
his private fortune as we'll as the mon
ey of hundreds OF customers, upon
! Louis III. Case, the junior partner
What he said followed largely the
lines of his original receivership petit
ton. He confided the brokerage bust
ness largely 10 Case. he said. occupy
ing himself more particularly with
mining operations. When he learned
the true status OF affairs, the firm was
ruined. All knowledge OF the ques-
tionable transactions in "kiting"
I 'h'NhN anu oNiAiHb 1hSiOhiNio StONA
without their knowledge, was disclaim-
ed by Currie.
The statements of the senior part
ner were unexpected, inasmuch as h
has maintained apparently amicable
relations with Case all through. He
spoke without bitterness.
The partnership between Currie and
! Case had been formed In 1902, Currie
| putting in approximately $4,000 and
10000 shares OF Copper Range stock.
The business had apparently prosper
ed. No inventory was ever taken. but
! statements were taken from the books
! from time TO time. showing an appar-
emily prosperous condition. He real
lied TOO late that these statements
were not accurate, inasmuch as worth
/ less accounts were not charged of to
/ profit and loss.
Frank c. Andrews Account.
! The Frank c. Andrews account had
| been carried on the books, Currie said
/ because of litigation In which the firm
was involved with the Preston bank.
J He had not known of the bad state OF
! the NJ. j. Bourke account. which has a
/ debit balance of 1927. 900 until last
| May. Then he shut of Bourke's trad
ing and tried to rally all resources To
save the firm.
He then went east to negotiate with
/ Hayden. Stone 4 Co. In rgard To the
latter firm taking over ali OF Currie a.
Co.'S eastern business. This was done.
and Hayden, Stone g. Co. advanced
( $50. 900 TO Cameron Currie AZ Co. At
this time. Currie said he did not know
OF the deals that were being engineer
cd by employees OF the firm. He took
an approximate state Of the business
east with him and showed il to Hay
den. Stone 4 Co. 1t did not show the