New-York tribune., 1922-02-24

lieved We could avert receivcrship
and | drew on every asset I had-the
savings OF my entire lifetime and
threw them into the breach. ! made
no preparations for the event of re
ceivership; did not assign one dollar
to my wife or any one else, but gave
everything ! had until to-day YOU sec
me with everything lost evcrything
"This has been year Of hard luck.
think 1t has hit ME worse than most
people. MY old law partner. Henry G..
Middauyh. now cf Duluth. and start
cd up two men in business IN Califor-
mia in a bank This through misman-
sgement went on the rocks. Mr. Mid
daugh and / sold our bonds at loss,
turned every liquid asset We had into
the receivers hands and paid cent for
cent every obligation that either of us
had This cost me $50, 10000 Next came
tho brokerage failure. had about
$4,000 left in quick assets and some
property, which I Immediately turned
over TO the business in an effort to
save the money of my customers and
others.
Ready to Start Life Anew
Gas soon as this thing is over shall
start anew to build my fortunes, but
as lawyer this time. ] ask only that
my health holds up.
Mr.. Burke WIS asked about the third
partner in the firm, Jay A. Grcenwald,
of 236 West Seventeen Street, whose
connection with the firm was discov-
cred by the attorneys for the receiver
"Mr Greenwald is young man
shout thirty" said MIR. Burke "Fe was
formerly connected with Marks &
Graham"
The bankruptcy petition against
James W Ball e. Co. was fled by Anna
L. Cunningham with claim of $500
Gertrude A. Nolan. $50, and Agnes n
Bukey, $50. The petition alleged that
the liabilities are $150,000 and the as
sets $4,000. Shame g. Wenrib, 299
Broadway, are attorneys for the
creditors
Judge Hand appointed Isaac G. Dsl-
zicl, receiver for the firm under bond
had told him the assets would not
realize over $4,000 and that the liza
bilites might exceed $200,000 S. Ed
ward Glnsburg, assignee, said that MIR.
Ball the sole member Of the firm, had
been in business for twenty years
he had been q member of the Curb
Exchange until about month ago,
when he sold his seat to raise funds.
Mr.. Ginsburg attributed tho failure
to the bucketshop agitation, although
he said that he had found no. evidence
OF bucketing in Mr.. Balls business.
The general clamor against bucket
shops, he said, had caused heavy with
drawals by customers of the firm.
Cause of Failure
The failure of another BROKERAGE
house, which held some of it's bal
ances, was given as The reason for the
assignment of Rasmussen & Co. George
A. Mclaughlin was appointed assignee.
1he firm was member Of the Chicago
board of Trade, the New York Produce
Exchange and the New York Curb
Market and consisted of Joseph 4. Ras-
mussen and Fred Hansen. general
partners, and John Firth, special pat
ner. NO statement as to the financial
condlton of the firm was made. Henry
H. Kaufman, 1l5 Broadway, is attor-
ney for the petitioning creditors-Gra-
ham Chisholm & Co., the Sorg Printing
Company and the Peerless Quality
Company.
The petition against Rodney & Co.
was filed on the complaint of Solomon
fokol, with claim of $420; Joseph
Rose, $3.50. and Sarah TurnbulI. 81 900.
The petition did not disclose either the
assets or liabilities. Flaherty, Turner e.
W Ouoc AcPi eoSut tNe creators. Judge
Hand appointed Harold Remington re-
ceiver for the firm under bond of
81 900.
MIR. Silkworth said that meeting
Of the board of governors of the Con-
solidated had been held late in the
afternoon to discuss this and other,
failures, but no evidence had been pre-
sented to show that there had been any
bucketing of orders. He said that the
exchange would continue its investiga-
tion of members, and if any evidence
we're found Of bucketing they would be
expelled
MIR. Sikworth asserted he had been
in communication with Rodney & Co. IS
result of which he thought that their
liabilities would not exceed $4,000.
against assets of $35.000 in cash and
100000 of other assets.
The brokerage firm Of Higgins e.
Dias is composed Of Bernard ]. Hig-
gins and Samuel II. 'Dias. Three credi-
tors joined in the bankruptcy petition,