New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-05-12
ENNIS & STOPPANI UP
WOULD RESUME BUSINESS
Bankrupts Appear Before Commit
tee of Consolidated Exchange.

Thomas A Ennis and Charles f Stoppanl' OF the
defunct brokerage firm of Ennis & Stoppan1' ap-
peared before the committee on membership OF tne
Consolidated Stock Exchange yesterday afternoon
10 explain the cause of their insolvency. The hear
ing was star chamber affair, not even the attor-
ney for the two bankrupts, Irving L. Ernst oelns
admitted. and statement of what tTansplred was
given out after the meeting II was stated how
ever, that the committee had reached no decision
in regard to what recommendation it would make
TO the board Of governors and that ii might be de-
cided to call the two members again before hnai
decision reached
If the explanation Of the two men as to the
causes of their failure is satisfactory. the COM
mittee can either recommend their suspension for
a certain period-probably six months or a year
or their expulsion. The board Of governors will
then consider the evidence and render its decision
accordingly.
Yesterday was the third time that the two men
had been cited to appear before the committee on
membership II they had failed to appear on this
occasion and had been unable 10 give a good rea-
son for their absence, representative of the eA~
change said. the committee would doubtless have
recommended their expulsion
The two bankrupts we're before the committee Tor
nearly two hours and on leaving instead of going
out by the regular entrance. they were spirited
away by some of the Underlings of the institution
After they had safely got away. the publicity agent
of the exchange appeared and told the
throng that the men they waiting for had
gone" How they had managed 10 do so unob-
served. with the outlets to the building closely
watched, he did not explain. but no balloons or
airships were seen in the neighborhood it was con-
Guided that there must be some way OF getting
out Of the exchange that Wall Street hangers-on
do not know about. Whether not the two bank
rupts feared being arrested in criminal proceed
ings is not known.
report that the question OF their readmission
10 the exchange had been considered at the meet
ing was denied by the chairman Of the committee,
r. H Reid.
The examination of the two bankrupts. that was
TO have taken place yesterday before United States
Commissioner Alexander, adjourned until next
Tuesday on the explanation of Mr.. Ernst that his
clients undergoing investigation before the
Oren J. Howell. through his attorney, Lewis H
Moos. asked for opportunity TO examine either
member of the firm, so a meeting was arranged 10
take place this afternoon at the Office Of Lindsay
Russell the receiver. It is expected by Irving J..
Ernst that the bankruptcy proceedings will come to
an early termination He has sent out notices to all
promised Immediately, and for the rest of the
amount due, notes payable in six. twelve eighteen
and twenty-four months are TO be given
These propositions have been sent out ct the rate
Of 500 a day. Up to yesterday morning aS con-
sents had been received from the first output and
Mr. Ernst has little that he will be able to get
more than half Of the $500 creditors TO assent to
the plan. AS soon as he gets the requisite num-
her he VIII ask to have the bankruptcy proceedings
ended and if the Consolidated Exchange does not
give an adverse decision against the firm. business
will be resumed in the old Offices