The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-08-01
STEVENSON MAKES
SAVAGE ATTACK
ON RECEIVER

sale or the stocks and allow the ex-
cess over Hayden. Stone q Co.'S claim
to be paid into court
The most bitter attack made on Re-
ceiver Austin by Stevenson came
when the latter asserted that an at
tempt was being made to play into
the hands OF the preferred creditors
AS against the general creditors.
Rebuked by Court.
AT one time Judge Mandell rebuked
Stevenson for the defiant nature OF
his replies To the courts request for
information
r. w. Stevens, counsel for the re-
ceiver, went after Stevenson hard, say
Ing that the transformation In the at
titude OF Hayden, Stone & Co.'S rep
resentatfve from Indifference to belli-
gerency was due To fear lest a hear
ing might increase the liability OF the
Boston firm.
The receiver represents the inter-
ests or all creditors. Stevens assert
cd, and had the right to question the
deals by which Hayden, Stone & Co.
secured possession OF these stocks.
No writing among the papers OF Cam
eron Currle & Co. showed any con-
tract giving such rights.
The receiver can find no scratch
OF the pen to that effect" said Ste
vens. 1T may be that all these se-
curities are held only by implied
right or oral agreement"
He argued the right of the court
TO dispose of the matter and defended
ne loi Inf Ia
chain OF circumstances tending to
show such state OF things as TO
warrant the receivers action.
Harrison Geer argued for continu-
ance OF the Injunction. as did also
f. II. Canheld. who said that, II the
sale is to be allowed to go on and
Hayden, Stone & Co. to keep all they
claim. other creditors might as well
drop their suits.
Pounds Argument
James II. Pound declared that the
purpose OF the court Is TO protect the
people, and that II would got be
doing so by forcing the claimants to
60 to Boston with their cases to
sue the firm of Hayden. Stone & Co.
individually. He asked that the case
be settled here, and that Hayden,
Stone & Co. be forced to show that
they have real right to the large
interest they claim In the assets.
Judge Mandell asked the attorneys
present, at one juncture, whether they
objected to the continuance Of the re-
straining order. None objected, but
Attorney Stevenson In his final argu.
ment characterized this as an appeal
TO the mob.
After all the parties interested had
been heard. Judge Mandell made .
brief order continuing the Injunction
against Hayden. Stone q Co. to for
bid the sale of the stocks until after
they had fled an answer to tho re-
ceiver's bill and the cause has had
hearing In court.
Stevenson made no reply to sug-
gestion of one attorney that the Sc
cu,.t.es DO sold and the proceeds de-
posted In court or In q bank. subject
To The various claims.
More Interesting Petitions.
While the lawyers were arguing be.
fore Judge Mandell for o continuance
Of the injunction restraining the sale
of the firms assets, several interven-
Ing petitions were being fled In the
county cler's office.
Ward L. Andrus claims that in May.
1908. he paid 1851 for stock benefit
through Cameron Currie & Co.. which
was never delivered to him. but which
eventually found It's way into the
hands OF the Boston firm as collateral
for the Detroit firms debts.
A similar charge Ia made by VIII
liam H. Gamble regarding 10 shares
of Franklin copper stock for which he
says he paid In full.
over $1,700 is involved In the claim
OF Frank Cummings. Of Grand Rap
ids. He claims to have made several
purchases of stock through Currie d
Co., for which he always paid In fun.
but left with the arm for convenience,
should he desire to sell at any time.
He alleges there never was q lien
against the stock, but 1t. like several
thousand shares Of other stock, is now
held by Hayden. Stone q Co.
Recently James II. Bell bought
stock worth $548. on which there Is
a balance due of $3.50. This amount
he stands ready at any time to pay.
and he asks that he be- allowed to pay
Il and have the stock turned over to
him.
Petitions for small amounts Of stock
were handed In during the morning
by Joseph II. Normington, Elizabeth
Johnston. Julius Hager Harold d.
Baker.
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