New-York tribune., 1909-09-04
STOCK BROKERS ASSIGN
Freeman, Rollins s Co. Suspension
FoHosced By Bankruptcy Petition.

Freeman. Rollins Co. OF No. 25 Broad street,
made assignment yesterday, the suspension
being announced soon after the floor of the
Stock Exchange The failure not regarded as
important from market point OF view, as the firm
had large commitments outstanding and the
suspension had effect on prices.
The difficulties of the firm said to he due to
the failure of customers to respond to calls for
more margin and shortage of cash because of
heavy Withdrawals by other customers and in
ability to collect outstanding contracts. These
Withdrawals il said caused by the re-
cent publication of the alleged transactions be-
tween the firm and the Boston brokerage firm OF
Sederquist Barry Co, which failed in May.
Shortly after the assignment involuntary pc
ttion in bankruptcy filed against the firm by
James A. Anderson, William l. Mclennon and
Dean Edmunds. with claims aggregatng $2,52 on
balances. The liabilities placed at 100000 and
the assets at 100000 Judge Holt appointed Robert
T. Oliver, lawyer of No. % William street, re-
ceiver under bond of $4,000.
John G. SAKE counsel for the receiver, said
after cursory examination of the books, the as
and liabilities would he nearer each other in
size than stated in the bankruptcy petition, and
that there fair chance of the creditors re-
ceiving fifty the dollar.
In regard to reports that the firm had been short
Of Steel common and Reading. Mr.. SAKE said he
had found no evidence of that fact the books.
had he been able to confirm the rumor that
Thomas w. Lawson had been a customer of the
firm
The firm Of Freeman, Rollins & Co. formed
January 1S 1862 and consisted of Perley l..
Freeman. who the board member Joseph +.
Freeman and Charles II. Rollins The firm which
was a successor TO the firm OF Curtis, Freeman &
Co. which dissolved January on the retirement
OF Harry F. Curtis, had Offices at No. 154 Nassau
street, this city; in Boston and n Providence.
PeIley l.. Freeman became member of the New
York Stock Exchange January 23, 1908.
Harry f Curtis was formerly member of the
Consolidated Stock Exchange house Of Curtis,
Sederqust & Co, which, as Sederquist Barry Il
Co failed on May 20 Mr. Curtis has made his
headquarters with Freeman, Rollins q Co, al
though rot a member of the firm.
Boston Sept. 3.-The alleged transactions between
Freeman Rollins & Co. and the Boston broker
age firm of Sederqust. Barry & Co We're dis
ctssed in a report made by creditors committee
to meeting of the creditors of the latter firm held
here on August :. The committee in its report men
toned "a reported Indebtedness by the bankrupts
10 the New York Stock Exchange house of Free
man. Rollins & Co of about 10000
Regarding the reported Indebtedness, the COM
mittee in its report said:
1t appears very significant to you that this debt
has not been scheduled by the bankrup}s among
their liabilities nor has any claim Tor II peeh hleu
by Freeman. Rollins & Co
The committee believed that the relation of the
bankrupt concern with Freeman. Rollins & Co.
and the relation of Harry F, Curtis to Freeman.
Rollins 6, Co should be most rigdly investigated.
Arthur B. Sederquist. OF Sederquist, Barry &
Co.. was arrested in Wolfeboro \. H, yesterday,
charged with the conversion of money given TO him
by H. s. Gregor, of Manchester, y. H, 10 pur-
chase stock.