Jasper County Democrat, Volume 11, Number 59, Rensselaer, Jasper County, 26 December 1908 — ARE OUT FOR THREE YEARS [ARTICLE]

ARE OUT FOR THREE YEARS

New York Brokers Suspended by Stock Exchange. REAL REASON IS A MYSTERY Members of Marshall, Spader A Co. Charged with “Doing Business in a Manner Inconsistent with Just and Equitable Principles of Trade”— Firm of Brokers Has Something to Say About the Matter In a Statement to Public. New York. Dec. £5.—W. H. Martin and Thomas W. Moorehead, members of the firm of Marshall, Bpader & Co., stock brokers, were suspended from the New York stock exchange for three years. The two men were charged with “doing business in a manner inconsistent with just and equitable principles of trade.” The suspension was understood to be the result of investigation of dealings with Coster, Knapp & Co., who failed. A statement issued by Marshall, Spader & Co. after the suspension follows: ‘‘The governing committee has dfsclplined the firm by denying us the privilege of the exchange for three years on charges of violation of its rules. The action has nothing to do with our financial responsibilities. No fraud is charged. No one has suffered a loss.” In addition to the stock exchange, the firm holds memberships in the produce and cotton exchanges. It has three branch offices in this city, and one each in Baltimore, Philadelphia, Chicago and Hot Springs, Va. It was organized in 1904.