New-York tribune., 1909-04-23
CREDITORS AND GLOOM
Continued from first page.

rem was giving up assets to the receiver and not
taking them away. But after further inquiries
by him and others the situation seemed to be
made clear.
statement was read classifying the credit
ors: First employees few entitled TO days
wages; second. persons who bought stock out
right and had it transferred to their names, en-
titled to get it If they trace it and prove
their claim; third persons who have stock In
their names and made part payment court will
probably allow them to get it by paying up if
they trace stock; fourth. persons who have
made part payment stock are not entitled to
il II the stock does not stand in their names.
The last classification created roar of disap
proval, and one old man. who declared. he knew
the law. disputed the statement volubly.-
Gloom settled down like blanket when the
receiver said that purchasers of stock on mar
gin came in only as general creditors as did
persons with money on deposit or those who
had lent money to the firm.
INJUNCTION AGAINST RECEIVER
While the meeting was in progress Frederick
A. Hammond who said he had bought two hun
dred shares OF stock valued at oyer $4,000 last
fall, but had not received the certificates OBJ
tanned injunction in Boston restraining the
receiver from transferring them.
An excited individual asked if the receiver
counted assets stock held margin. Mr..
Russell replied he counted everything in sight.
whereupon he was accused Of knowingly fgur-
ing on assets which belonged to individuals
The high tension of the creditors was shown
when photographer set off fashlight in the
back of the room. Every one jumped, but re-
covered when wag shouted "Oh. that's all
right; they're just taking a picture of the as
sets"
At this juncture a young man with straw
cl{ {pnba tabIo
already held Mr. Russell, Mr.. Wolf his counsel
and Mr.. Grossman.
I was an empioye Of the firm" he announced.
and am a preferred creditor but we are will
ing to let our money 60 l want TO know II
there is q man who ever traded with Ennis &
Stoppani who received a crooked or rotten deal"
'T did, came in angry tones from various
parts of the room.
Undismayed. the young man, who afterward
said his name was W. MUIR. tried to go on. but
cries of Where did you get your automobile?"
We don't want to hear from you,'' and Get
down" caused him TO climb down and disap-
pear.
Frederic W Hinrichs, the Brooklyn lawyer,
tried to find out where the members of the firm
could he found, saying he wanted to make
tender to them" Mr.. Russell said his informa-
ton on that point confidential and the
tender could be made to him. but Mr.. Hinrichs
not satisfied.
Frank Hendrck. who ran for Congress against
Representative Herbert Parsons last fall. kicked
up a considerable rumpus by demanding TO
know whether the stock OF his client was con-
sidered asset liability He said he knew
the law, but wanted to know what the receiver
purposed 10 do. LAS you know the law" said
Mr.. Grossman, II do not propose 10 dispute with
you"
Irving L. Ernst of the law firm of Olcott
retained by the bankrupt firm. told the creditors
the firm hoped TO able TO resume. and in any
case they would have a proposition for settle
ment 10 make to the creditors within week.