The Detroit times., 1908-12-16
RICH MEN TRYING
To SAVE CURR|E
AND CASE
POWERFUL INFLUENCE AT WORK
TO PREVENT CRIMINAL PROSE
cUTIoN OF BUSTED" BROKERS
HEAD OF FIRM AN INNOCENT.

-HEAO Or flHM AN INNOCENt.
Whether Cameron Currie and Louis
III. Case VIII figure In criminal pro-
ceedings as the result OF the disclos-
ures regarding their brokerage busi-
ness. which have been made in court,
Is now the topic of discussion among
those who have had To do with the
case.
Their examination practically closed
wednesday morning, although the at
torneys representing various credit.
ors have an opportunity TO ask ques-
tons Wednesday afternoon. The ex.
animation did not disclose dollar OF
property additional To what the trus-
tee already has secured for the benfit
OF the creditors. but IL did disclose, I'M
der oath the reckless and unauthorized
use OF customers securities TO bolster
up the credit OF the tottering firm In
its last months.
There Is an immense amount OF In.
fiuence from the biggest men, imam.
cially. In Detroit being exerted to pre-
vent criminal proceedings" said
well-known attorney. Capitalists OF
great power. men who have offices In
the Union Trust building, are anxious
TO prevent criminal action against Cur
rie. He Is a man OF excellent connec-
tons, socially and otherwise. and the
men who are anxious to avert prosecu-
ton are indirectly protecting Case.
Prosecutor Yerkes has assure va
rious attorneys that he will take a
complaint II one is made by loser In
the failure The trouble is that no
one is anxious to make the move. They
Will not get any OF their money back.
anyhow"
Prosecutor Quizzes Clerks.
Three OF the clerks In the Cameron
Currie d Co. office who are said "
have speculated under various names
are said TO have been summoned ID
| the prosecutors Office and closely
questioned. They did not give stories
| that agreed.
Assistant Prosecuting Attorney
Eaman, who has been much OF the
time at the bankruptcy hearing, says
| he Is there to inform the prosecutor
as to any facts which will tend to
show who converted the money or Sc
curities OF Cameron Currie Co.'S
customers to his own use.
| Four of the attorneys who repre-
sent creditors met on the way TO tho
hearing Wednesday morning and each
declared that he had customer who
wanted TO take criminal action, one
stating that three OF his clients had,
expressed this desire.
The most significant fact brought out
i'm the Wednesday hearing was tina
statement OF Attorney Stevens, TOT
Trustee +. c. Austin, tina OF he book
accounts OF about sl,200.000 owing TO
Cameron Currie & Co. only about $50,-
900 is collectable; and that half OF this
has already been taken In. The people
who have had to pay are the small GUS
toners. the big traders being involved
so deeply that collection seems I'm"
possible.
| Cameron Currie was again on tne
stand for about an hour Wednesday.
He ook the same attitude as in his
testimony Tuesday afternoon. saying
that he had been ignorant OF the
workings OF the business and had not
known OF his partners operations.
"You have excused your ignorance
of these things by saying you were
husy with other matters-what wers
they?" inquired Stevens. -
Currie then explained that, wniie
Ibe was about the Office great DEAL
he talked only with customers ana AZ
tended TO some OF the correspondence
He had been busy with promo'ion
nlans. with mining enterprises ana
with underwriting Under the last
head he characterized his interest OK
s25 600 In Philippine railways.
81 do not excuse myself, nor do l
seek to" he said. 1T was simply no.
NV nature TO go behind the work OF
those who we're running the business.
But that is no excuse for me-
Had no Knowledge Of Killing.
Currie declared that he had no
Lrowledee uf kiting operations Ia
checks except that he had given Case
checks for New York exchange NO
= one said anything TO him about the
"hiob fnance" methods used. but he
md learned OF these things since the
failure.
other customers than NJ. ]. Bourke
might have been involved In "kiting
Ioperations, he said. but he did not
l,bipk that Hayden Stone & Co. were
partics TO such deals.
You knew that people paid their
money 10 your firm for investments
ON the strength OF your name?
Yes
"Dld not that put any responsibility
upon you 20 know how the business
was conducted?'
1T ought to-"
Currie admitted his belief that the
firm had been really insolvent before
July Is. the date Of the receivership.
lie placed the date OF the actual IN
solvency AT the time OF the panic of
1907. Had II not been for the office
account" OF employees who specialized.
and the immense loss in the VI. }.
Bourke account he thought the Hrm
might have weathered the storm.
Gould, YOU have stood the loss oil
million dollars In bad accounts"
Yes. a few years ago We could-no-
within the past year or So
The profit and loss account was then
continued on Page Nine.D