New-York tribune., 1908-08-29
RECEIVER FOR BROWNS
LIKELY TO BE N4MED-
Ill Night Ride to Find Judge Holt
-Hearing at HIS Homo.

Judge Holt. of the United States Circuit Court al
his home in Woodstock Conn, yesterday. after
listening TO application for the appointment OF
q temporary receiver for the firm OF A, Q. Brown
& Co, made by creditors of thc failed firm, took
the matter under advisement. promising TO make
known his decision at o'clock this morning 1t
is understood that he will grant the application
In effort to find Judge Holt and get his sigma
tuire TO the application two young law clerks from
tho office of House Grossman Yorhaus maze
an al night rid in automobile from New Lon
dor Woodstock the judges country nome
The reason for their haste was that another Ia"
firm, which had ob aimed similar petition also mao
a man searching for the judge.
When the representatives OF House, cirossrnan q
Norhaue reached Judge Holt's home, which was al
about II o'clock yesterday morning. he Vae away
from home. They teIesraphed their III success 10
their employers and received word To await Ms
return
In the mean time Edward I.auterbach counsel
for A, O. Brown & Co.. had consultation Win
members of that firm AT their BROAD street office
at which il decided that the latter should be
represented at the hearing for the appointment OF
a temporary receiver. One of Mr.. 1-auterbach g
law clerks once starteI by rail for Woodstock
and expected to reach there late in the after
noon. Word was telegraI Ihed to Judge Holt that
he the way. and if WAS expected That the
Judge would await his arrival before taking any
action in the receivership proceedings
Asked If there would he any objection on the part
cciver, Mr.. Lauterbach SAID;
i don't know of any objection. but cannot say
at this time whether the firm will contest the pro-
ceeding not"
He added that any statement that could he made
concerning the affairs of the firm would be
merely guesswork but declared that the general
impression seemed to be that the firm was solvent
and that the members certainly believed SC.
Moses II. Grossman of House, Grossman a Nor-
haus, said that mis- firm had one in mind for
the TeCeiverShip hut that what they wanted was a
man who understood banking and Stock Exchange
practice.
The claims against the firm" he added "are
very much involved and cover a large number of
transactions for long time hack. II is hard TO
tell Just what the situation is and to say when
there will br 4 complete accounting. We cannot
toll what the developments Will be, but Ue are in
a position TO demand order for the examination
of the books of s. O. Brown & Co., and ex-
change authorities We proceed only aiong
searching one and public The Stock Exchange
authorities can admit hearsay evidence"
Mr. Grossman added he was confident that
Judge fIofI. after hearing the application of the
petitioning creditors. would the appoint
nent of a temporary receiver.
The special committee OF five appointed by Presi-
dent Thomas Of the Stock Exchange TO investigate
Saturdays stock market transactions held another
session yesterday afternoon. Several witnesses
were examined, bun all information 10 who they
we're or what happened ct the meeting refused,
E +. Buchanan the Broad office
Of a @. Brown IL Co for the creator part of the
day, hut sent word that he had no further
statement to make in regard TO the firms affairs