The Detroit times., 1908-08-14
ASK COURT TO NAME
DETROIT TRUST CO.
NEW RECEIVER
CONTINUED from Page Oneo

represent expense items, office ae-
counts which would seem to have no
aS5et value have beer eliminated
from the statement, that the accounts
included under the heading 'other APP
paren. assets" are as taken from the
books and, like some others, are sub
ject to realization" and that the liza
bility to banks and trust companies
is made up from statements and in
formation furnished by financial in
stitutions.
The report continues:
Interest has not been calculated
on any of the accounts since June 80,
and all transactions are subject to the
addition OF interest where 1t is prop
erly chargeable and to credit for in
terest where such should be allowed.
Commissions attendant upon the clos
ing out OF the transactions have not
been taken into consideration"
Hayden, Stone & Co. Securities.
With reference TO the securities
held by Hayden, Stone a. Co.. Boston,
mentioned in the schedule OF assets,
the report says:
These securities are the subject of
the pending suit brought by the re-
ceiver against Hayden, Stone a. Co.,
in which numerous petitions have
been fled asserting special rights in
particular securities. For obvious
reasons, and with no intention of pre-
JUDGING any such asserted rights.
these securities are here treated az
firm assets. The fully paid accounts
OF customers having reference to Sc
curities held by Hayden, Stone & Co.
IN ta anaArIinn ~ In
formation, about $lS0,000. The total
value of the securities with Hayden,
Stone & Co. has enhanced since July
49,"
A list of these securities Is given.
Stock Exchange Seats Assigned.
Concerning the stock exchange
memberships the accountants make
some interesting regulations, as fol-
lows:
For the information OF all concern
ed and without intending TO draw con-
illusions as to the status OF the same,
these stock exchange memberships.
or seats. are included in the statement
in a separate column, at valuations
according to the best inform.
alton obtanable. The several ex-
changes are said TO treat the mem
berships as personal to Cameron Cur
RE: they were charged against Cam
eron Curries personal account in Feb
uary, 1902, and the receiver has been
notified that the memberships in the
New York, Chicago and Boston ex-
changes were assigned TO Charles L..
Freer In March. 1902, as security for
a loan of 500 shares OF American Rad
iator Co preferred stock valued as OF
July IS, 1908, at $4,000 That stock
seems to have been used for the ben
eft OF Cameron Currie x Co. and that
sum has been included in the liabili-
ties OF 81 .42S,7 3443 mentioned In the
schedule. the particular stocks not be-
ing In the possession OF the receiver
The sum mentioned, which appears
| in the schedule OF liabilities as due to
customers. is the aggregate OF about
$50 accounts brought down 10 date, 1t
| is explained The sum OF $5l5,929.71.
under the classification or Hayden.
Stone x Goa account" in The liabili-
| ties, represents the balance due the
! firm on July IS. according TO Cameron
tCurrie & Co.'S books. The receiver,
! however, does not cOncFde that this
balance Is due the firm and the ac-
count will be subject 20 review In the
suit for an accounting. now pending
against the Boston brokers.
The item, Cameron Currie ON SCI
curities account" put down al Ss7.'
5O61C in, the liability schedule, Is thus
explained:
This apparent credit OF ISL 800 is
is more than Offset by the debit bal
ance Of slOs. 4S9.S5 Ia the personal ac-
count OF Cameron Currie, shown In
the assets
General Creditors Have Inning.
With the first argument Friday aft
ernoon in the Bankruptcy proceedings
| against Cameron Curre & Co.. there