The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-01
.KEENE REPORTED
READY TO SETTLE
Failure of Pool May
Cost Him Near
$500, 000.
TO RELIEVE HIM
OF LITIGA TION
Creditors of Fiskc & Co., Who
Failed for S3,ooo,ooo, Will Be
Satisfied-Othcr Companies
Which Were Caught in
Crash Arc Demanding
Reimbursement.
Especial TO The Tlmes-plspatcb |

Especial 10 The -Dispatch.l
New York. April 3o.--"A proposition
has been made looking TO a settle
mcut. and II is probable that the offer
Will be accepted said Irving l. Err
nest. receiver FOR the bankrupt stock
brokerage house OF j. NJ. Fiske e.
Co. to-day. riske G. Co. was one OF
the firms which failed, with Liabilities
OF about s3.00Q.ooo, on the collapse of
the pool in Columbus and Hooking
Coal and Iron. Lathrop, Haskins &
Co. and Roberts, Hall G. Criss failed at
the same time. The liabilities of the
three concerns are about s6.o00.o0Q.
James r. Eeene was the manager Of
tho pool. and It SIS from hin and from
his personal broker. Edward Pepper
of Pepper e S,ernbach. that settle-
ment Is expected.
In tho settlement of the claims i. Is
probable that at least 100000. and
perhaps more. Will be turned over
1T will not be possible continued
Mr.. Ernest ito make any definite an
rouncement as TO terms until early
next week, probably Wednesday. The
settlement in the case of a. ". Fiske
e. CO.. however. has nothing TO do with
the Lathrop, Haskins & co. failure, in
Which both James r. keeue and Ed
ward Pepper are under subpoena to-
appear before Referee in Bankruptcy
STANLEY ". Dexter next Tuesday.
VIII End Examination.
'This settlement II accomplished.
will end my examination OF Mr. Keene.
1t will tend to settle to a large ex
tent the Lathrop &: Hasklns matter.
and Will have some indirect bearing
upon the case OF Roberts. Hall G
Criss'
From person who has been inti-
matcly connected with winding Ip Of
the affairs OF j. NJ Fiske & Co, 1,
was learned that there were severai
phases to be considered in the ncgoiia-
tons for II settlement. The receiver.
It is understood. demanded that James
X. Keene should pay over for the
benefit of creditors of j. NJ. Fiske &
Co. the profits of the same OF $500
shares of Hooking stock between April
IS and December O. 1909. He claims
also TIE Inference between the price
obtained by Pepper &. Co, when they
sold $500 shares OF Hooking short
at prices around SO. Immediately pre-
ccdins the collapse OF the Hooking
boom and made deliveries from
Keene's stock. which they held. and
what it would cost them to cover"
at prevailing prices
Agai,st this. however. arr the a,3oo
shares OF stock bousbt by Hugh +.
Criss. of Roberts, Hall & Criss. which
were not delivered because of the fall
ure of his firm. and against which his
seat on the stock Exchange is now
being held during his suspension.
After Pepper & Sternbach had sold
these shares to Criss.' said Tho Times
Dispatch informant. Through other
brokers. criss failed. and he was un
able to take the stock. Therefore the
status of these 1900 shares becomes a
mooted point in the negotiations under
way for q settlement Naturally, In
any settlement to be made Criss would
have to be considered, so far as his
$500 shares OF stock are concerned. be-
cause Criss could not be expected to
contribute either to James r. Keene
or to Pepper s; Sternbach.
Stand for Own Acts.
MY best information Is that set
tlement will probably be reached on
this basis. keene and Pepper are will
ing to stand for their own acts, but not
for the acts of other brokers' ii there
were any, who sold out Hooking Coal
and Iron.
1T IL not possible now TO deter.
mine how much money will have to be
paid over to effect a settlement, but
ii will be very large sum, and shall
not be surprised If it exceeds 100000.
The receiver is to make such terms as
seem 10 him for the best Interests Of
the creditors Of j. NJ Fiske & Co A
settlement certainly will relieve Mr..
Kccne and others of vexatious lltiga-
ton, and | am Informed 1t would be
considerable reliefto more than one
big financial institution"
Solomon Hanford, counsel for James
r. Keene, refused TO discuss the pro-
posed settlement or to admit he was
aware that negotiations were in pro-
Ercss. Mr. Keene's brokers are equally
reticcnt and insist that they are par