The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-08-08
AYDEN,ST0NE&C0.
To Be PERMITTED
To SELL STOCK
PREVENTING DIS.
POSAl OF THAT PURCHASED
ON MARGIN WILL BE DiSSOlV.
Eo-MoRE PETITIONS FILED.

The Injunction restraining Hayden,
Stone Il Co. from disposing OF the
stock held by them as security for
Cameron Currie & Co.'S loans is 10 be
greatly modified within 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 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 $l25.00J
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 IL is said that the desire 10
avoid any appearance or 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 all
hour Saturday discussing affairs in
connection with the failure. The re
ceiver had hoped 10 be able 10 file a
statement as 10 the failed firms assets
and liabilities. Saturday but the state
ment will not be ready until Tuesday.
General Appearance Filed.
A general appearance or all the part
ners composing the firm OF Hayden.
Stone d Co, was formally entered
Friday, by Dickinson. Stevenson, Cul-
len, Warren & Butzel, their attorneys.
Ii indicates that Hayden, Stone & Co.
are not intending 10 raise technical
points against the jurisdiction of the
Michigan court over the Arm in re-
spect TO its transactions with Cameron
Currie 4 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 partnaras not served, but
this general appearance for all mem
bers of the firm makes the situation
identically the same as II 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
dozen having been fled Saturday.
Lulu f. Weiss, OF Monroe. claims that
In 1895 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 a. Co for su!ekeeping. 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 a dividend, but the cash
never reached her
Clara s. Butterheld. 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 Winond. but Cameron
Curric K Co. made a mistake and
bought 20 shares These she paid
for. but never received.
Several suppressed cases were also
hlcd