The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-07-28
CLAIM s AGA|NS I
CURR|E & CD. MAY .
BEF|LED T00CT.1
LIMIT FOR THOSE WHO ALLEoE
INTEREST IN STOCKS SET AT
AUGUST INFORMAL ORDERS
MADE BY COURT.

Affairs In the Cameron Currie q
Co. case In the circuit court have set
tied down into a routine of filing pc
titions and making official orders. I'm
less some of the more impatient gen
eral creditors take the case into the
Bankruptcy court. the matter bids fair
to run along in the manner OF ordin
airy suits.
The next definite action promised
in the state court comes Saturday.
when final action is to be had with re.
gard To the securities In the hands OF
Hayden, Stone & Co.. OF Boston.
When the court orders sale. there
will be fight made by the attorneys
representing customers who bought
their stock outright. to have their
particular stocks set aside from the
sale. General creditors will also fight
to make Hayden; Stone & Co. pay into
court the proceeds of the sale and
share equally therein with other cred
itors.
Two orders were made by Judge
Mandell Monday morning. One pro-
vides that intervening petitions may
be filed by persons claiming an inter
est In stocks held by Hayden, Stone
& Co. and the receiver up to Aug. 10.
The other provides that claims against
Cameron Currie q Co may be filed
up to Oct. / and that these will be
open to inspection until Oct. IS.
While many attorneys have urged
action in bankruptcy. none of the
creditors seems ready to take this
plunge. The bankruptcy proceedings
would not set aside the preference
OF Hayden, Stone & Co. but would
make them come into court to fprove
1t. 1t would also give the general
creditors a chance to select the trus-
tee and would allow OF bringing the
me mbers OF the defunct brokerage
firm TO the stand TO explain transac
tons.
In an intervening petition filed Mon
day. Minnie b. Stoneman alleges that
Cameron Currie & Co were commits
stoned TO buy for her ten shares OF
New York Central stock. The stock
vas purchased. but was never deliv-
cred to her. and later was deposited
Stoneman claims that the stock was
never the property of Cameron Cur
RE & Co. and that Hayden, Stone &
Co. had special knowledge Of that
fact
Another suit arising out OF the Cam
eron Currie failure was started in the
circuit court Monday morning by
Joseph G.. STANDARD. who names the
Peoples State bank and the Northern
works as defendants.
STANDARD alleges that In September,
1901, he deposited with Cameron Cur
rio & Co. $50 shares Of Northern En-
works stock, which they In
turn pledged TO the bank. The plain
tiff alleges that he has applied TO the
bunk for the stock and has offered
the amount for which the shares were
but the bank refused to de-
liver the stock TO him.
Or Standards petition Judge Man
scl granted an injunction restraining
the bank from disposing Of the stock
A meeting of the creditors commit
tee was held Monday morning, at
which a request for Information was
drafted TO be sent to Fred G. Austin,
receiver for Cameron Currie & Co.
The information desired Is in regard
to stocks held by the receiver and by
Stone & Co, and also In re-
gard to matters OF preference among
the creditors. A reply Is expected
during the day.
Receiver Austin has also prepared
to file with the court large amount
Of data secured from a going through
Of the books OF Cameron Currie a.
Co. The information desired Is In re-
gard to stocks held by the receiver
and by Hayden. Stone & Co., and also
In regard to matters OF preference
among the creditors. A reply is ex-
pected during the day.
Receiver Austin has also prepared
to file with the court a large amount
Of data secured from going through
OF the books OF Cameron Gurrie & Co.,
by Accountant F. II. Macpherson.
This shows the apparent balances on
the books without regard to the values
of stocks.