The Detroit times., 1910-11-21
.CURR|E CREDITORS
TO GET s390,0OO
Stocks Given Firm For Safe-keeping
or Transfer To Be Paid in Full,
Judge Mandell Rules.

An argument on the proposed ue-
cree to be made by Judge Mandel III
the case of the creditors OF Cameron
Curr,e & Co., against Hayden. Stone
az Co., brought into court, Monday,
more thsn 80 lawyers and occupied
he attention OF the Judge nearly all
day. Judge Mandell remarked. in
presenting the decree. that he feared
II would please no one, and when the
attorneys were given a chance to cx-
press their approval or disapproval.
dozen men were on their feet to ad-
dress the court.
A feature OF the session was the
petition of Attorney b. b. Selling for
permission to intervene on behalf of
creditors OF Cameron Currie, person
oily. his clients holding claims which
aggregated $4,000. These creditors
are Trueman H. Newberry. Stratheain
Hendrie, and Mrs. Alice Ducharmc.
Mr.. Selling argued that up TO this
time, the personal creditors had never
had nn opportunity OF presenting their
claims, and he held that II his petition
were denied, his clients would have
no more remedy than II the claims
never existed.
Mr.. Selling claimed that the stock
exchange seats OF Mr.. Currie, which
were his own personal property.
should go toward the liquidation OF HIS
personal debts, and he asked that
special receiver be appointed to look
after this matter. He claimed that
MIR. Austin, In his capacity as re-
ceiver for the firm, could not at the
same time protect the interests or the
personal creditors. as their interests
were opposed.
Attorney Herbert Boynton, who has
acted as solicitor for the receiver
through the two years OF litigation.
construed some OF Mr.. Settings re-
marks as personal charge against
Mr.. Austin, and in an impassioned all
dress in which he was moved almost
10 tears and could scarcely control MS
voice he claimed that Mr.. Austin had
acted throughout as promptly and as
honestly as it was possible for any
mar TO do. Mr.. Selling replied that
he never for an instant questioned MI.
Austin's honesty.
MIR. Settings petition aroused
storm Of protest at the delay 1t would
cause.
why q you come in at this elev-
enth hour and present such a petit
tion?" Judge MandeE asked.
1--WE Lad right to presume that
the referee in bankruptcy was LOOT
ing after the interests of the individ'
ual creditors. Mr.. Selling replied.
A number OF leading attorneys pres
ent. opposed his petition, and 1t was
dismissed.
Tie decree as presented by Judge
Mardell, leaves in the possession OF
HAYDEN, Stone & Co., stocks valued at
s4.31I,1SG. Leo M. Butzel, represent
ing the Boston firm, sought to have IN
serted I'm the decree clause releasing
them from any further liability occa-
stoned by the crash OF Cameron Cur
lie e. Co, but Judge Mandell refused
Under the decree, 100000 will be d.
yidod among the creditors OF the de-
fin,t firm. Those stocks placed in
the firms hands for safekeeping or
for transfer, will be paid for In fuil
Marginal dealers will get nothing. The
other classifications OF creditors, OF
which there are more than score,
will receive only small percentages
or rothing.
II is admitted that Judge Mandeirs
decree will not settle the matter.
which will probably be carried
through the different courts to the
United States supreme court before 1t
IS finally adjusted.