The Detroit times., 1908-08-10
HAYDEN STONE eco.
TO Be PERMITTED
TO SELL STOCK
INJUNCTION PREVENTING DIS
POSAL OF THAT PURCHASED
ON MARGIN WILL BE DIsSoLv.
ED-MoRE PETITIONS FILED.

The injunction restraining Hayden,
Stone & Co. from disposing OF the
stock held by them as security for
Cameron Currie & Co.'S loans Is TO be
greatly modified within a few days
The injunction will be dissolved inso-
far as IL restraints the sale OF stock
| against which Cameron Currie 4 Co.
have a loan. Preventing the sale OF
/ this stock, most OF which was bought
on margin. really makes a Spectator
out OF the court. Fortunately for the
court the upward tendency in the mar
ket which has been prevalent since
the failure has added about $l26,0OO
to the estate. Naturally, under these
conditions, the owners OF the stock
are satisfied. but should the market
go the other way Judge Mandell would
probably find himself the center OF a
storm Of protests for acting as a spec.
ulator. It is said that the desire TO
avoid any appearance OF speculation
on the part OF the court has influ-
enced Judge Mandell In his contem.
plated action.
Attorney Herbert Boynton, repre-
senting the receiver, and Judge Man
dell were closeted for more than an
hour. Saturday, discussing affairs in
ceiver had hoped to be able to Ale a
statement as TO the failed firms assets
and liabilities. Saturday, but the state
ment will not be ready until Tuesday.
General Appearance Filed.
A general appearance OF all the part
ners composing the firm Of Hayden.
Stone & Co., was formally entered
Friday, by Dickinson, Stevenson, Gull
len, Warren & Butsel, their attorneys.
1t indicates that Hayden, Stone & Co.
are not intending to raise technical
points against the Jurisdiction OF the
Michigan court over the Arm In re-
spect to It's transactions with Cameron
Currie & Co. Process had been serv-
ed only on Charles Hayden, he being
the only member Of the firm who could
be served In Michigan. While that
service would authorize decree
which would reach Charles Heyden's
Individual property. and also the
property of the Arm, the decree
would not reach the Individual prop
erty of the partners not served. but
this general appearance for all mem
bers of the Arm makes the situation
identically the same as IL all the part
ners had been served with process In
Michigan.
More Intervening Petitions.
Intervening petitions continue to
pile up in the circuit court, almost q
dozen having been fled Saturday.
Lulu z. Weiss, of Monroe, claims that
In 1906 she bought and paid for ten
shares Of Southern Railway stock. In
1907 before her departure for Europe
she deposited the stock with Cameron
Currie & Co. for safekeeping. On
her return she bought 100 shares OF
mining stock, which was also paid for
In full. None of the stock was ever
delivered to her, she says, and Is
now held by Hayden. Stone & Co.
Elsie Weiss, also Of Monroe, had
dealings with Cameron Currie & Co.,
and she claims to be out both cash
and stock. The stock. which she says
she paid for in full, was never deliv-
cred, and two days before the failure
she was notified that she had been
credited with dividend, but the cash
never reached her.
Clara s. Butterfield, of Saginaw, al
leges that In January, 1908, she bought
20 shares OF Victoria mining stock,
paying cash In full. Later she order
ed 20 shares OF Winona, but Cameron
Curric & Co. made a mistake and
bought 25 shares. These she paid
for, but never received.
Several suppressed cases were also
filed.