The Detroit times., 1908-08-12
FIGHT BANKRUPTCY
To ESCAPE
PUBLICITY
oURRiE CUSTOMERS TRY TO
SAVE AHEMsgLvEs FROM LIME
LIGHT - INJUNCTION AGAINST
sosToN FIRM TO BE DISSOLVED

Camerone Currie q 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 petitioning
creditors do not withdraw. 1t Is ex-
pected that Currie and his partner.
Louis II. Case. will contest the case
in the interests Of these customers.
Griswold-st. Is just learning how 3e-
we're a blow to stock speculation was
struck In the Currie failure. Sales OF
securities have been much affected, 1t
Is said, but especially those OF spec
ulative nature. Business men OF all
grades are worried at the outcome OF
things with regard to the investments
and the tendency has been to check
buying.
Pm smiling" said one man who just
returned from foreshortened vaca-
ton. Il thought / would come home
and show people on Griswold-st. that
I am all right yet"
IL develops that the three petition
ing creditors who filed the bankruptcy
petition will not be losers through hav-
ing brought the petition, in case there
Is an adjudication. 1t Is customary In
bankruptcy cases 70 give the petition
Ing creditors an allowance to cover
the cost Of starting the proceedings.
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
In some cases means a severe loss to
the customers unless q good setIie-
ment Is made in winding up the COM
pany's affairs.
Court Won't Hurry.
81 understand that the creditors
who have begun these proceedings do
not wish a receiver appointed until
they have been joined by other cred
itors," said Harlow p. Davock. referee
In bankruptcy. Wednesday morning.
Il will not appoint receiver except
after that due notice through the press
for "a hours and after 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
ruptcy action was started would be
subject to review.
To Dissolve injunction.
A notice addressed ITO whom 1t
may concern" was circulated among
H. al TN ha Gam
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 & Co. The notice was
unsigned, but it is understood to come
from several attorneys who favor tho
dissolution of the injunction.
The motion will be made by the re-
ceiver, and IL Is understood by that
official that no opposition will be OF
fered. With the dissolution of the
Injunction Hayden, Stone & Co. VIII
dispose of securities worth $1.500.OO
which, since the rise In the market
have increased In value over $126.0O0.
Hayden, Stone & Co.'S claim against
Cameron Currie q Co. amounts to $l,-
900, 900, and the balance Of the cash.
about $325,000, will be turned over TO
the receiver.
It 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 to
the fluctuations Of the stock market.
AS Spectator" the judge has been
a success, the market having risen
steadily since the injunction was Is
sued. \
Although the time for fling interven-
ing petitions has expired. two mere
we're entered In the circuit court Wed
nesday morning.
William J. Phipps, OF MacNnac'
claims to have owned free or all len
rs shares of Foster Cobalt. Ave shares
of Nipissing and 20 shares OF silver
Queen, which he left with Cameron
Currie e. Co. for safekeeping. Tne
stock is now pledged with Hayden,
Stone & Co., he alleges.
Irving w. Green alleges that zoo
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