The Detroit times., 1908-12-16
RICH MEN TRYING TO
SAVE CURRIE AND CASE
,oon.,nued from Page one.J .

NOnttuucu Ohesy
taken up and Mr.. Currie acknowledged
that he Gid not know whether II nae
been properly kept or not and had net
learned until after the failure. lie
could not say as 10 whether the fr'n
had gained or lost on its interest ac'
count for stocks carried for customers
You. know that interest and com
missions were charged up which were
not collected"
mo, sir; | did not. | did not SUE
pect there were so many bad nc
counts"
Case Always Got His
It,was then brought out that Louis
III. Case got his 10 per cent comm'S'
sion on transactions whether they
, were collected or not. There was
long" and short" book. Currie said,
Ia which he could have turned for In
information as 10 how the firm stood
on It's account had he chosen TO do 40.
He became aware that there was
trouble In delivering stocks the las
few months because customers com
planned to him. He looked after such
complaints personally and get the
stock for them. The delay was tue
firms fault, he admitted. because II
Tad not paid in the money promptly
% get the stocks. Cameron Currie a.
Co. had 10 transmit the money to the
eastern correspondents To get the
stocks. II the Detroit firm had bal
ance with their eastern brokers. the
tocks were sent on without payment
directly OF the customers money
Orders gwen for stocks In which the
money did not accompany the order
Increase the debt owed by Cameron
Currie & Co. To the eastern brokers.
H. response TO queries regarding the
customers right 90 the stocks ha
purchased. Currie said that he though,
Dis firm had a right 10 pledge the
stocks 10 the amount OF the balance
,npaid and the margin. He took the
anne view OF long and short sales
alancing each other that Case had
aiken.
That Union Pacific Deal.
|, With regard to the transaction In
Union Pacific In which 500 shares 81
stock were sold short In the IF. w
Mette special" account, Currie ~
mitted that the firm got the credit los
the sales.
III made a difference OF only a few
points in the stock" explained Currie
IL made a great deal OF difference
10 the customer" said Stevens. Is II
not true that those shares were sold
only 10 increase your credit with the
eastern brokers. with which your Gus
toners had nothing 10 do?'
NO. sir. The firm did not control
that account"
With regard 10 the missing Amalga
mated Copper shares. Currie admitted
that IL looked as ii these had been
SOLD 10 protect the account.
Your acceunt--so that you would
rot be sold out?"
Yes. sir
\ number OF the bad accounts were
aiken up and Cameron Currie tolu
what he thought had been done &C.
lose each He had thought of going
over all the accounts last January
when he was talking with Charles
Hayden about the latter's coming into
the firm. He had not done so, how
ltver.
Currie stated that he had no knowl
edge of the Addie Selfridge account
operated by Case for or In the name
OF cousin, until after the failure
Attorney Stevens then took up q
line of inquiry which may come into
use later In the trial of the case OF
the trustee against Hayden. Stone
Co. He asked various questions to
raw out the information that Hayden
Stone & Co. knew OF the business
methods of Cameron Currie G. Co. anC
that the firm was dealing for variou: