Show Stanley Winston Companys Receiver CHICAGO Dec 27According to charges maaein court today the Stanley Winston company a real estate cooperation was wrecked by stock V speculation by President P E Stanley Bertram M Winston treasurer today applied for an appointment appoint-ment Jor a receiver for the concern and L that the affairs of the corporation bo wound L i uy Stanley is charged with misappropriating ating 70000 C M Walker was appointed I receiver Winston says he discovered a few days ago that Stanley had misapplied 70000 and that most of it had gone in wild and I reckless speculation on the Chicago stock exchange Tho wrecked corporation was organized last fall succeeding the old firm I of P E Stanley Co Prior to the organization organ-ization of the new company Stanley was I engaged in confidential business with certain cer-tain customers and a considerable portion ot this private business was never merged I into the business of the firm theI I busioss frm Among the transactions which the Winstons claim wero put through by Stanley in his individual indi-vidual capacity were deals with H Mc Cormick and J F Keeney involving respectively re-spectively 45000 and 15000 After Stanley became convinced of his liability to criminal prosecution he gave it out that the corporation was liable to McCormick Keeney and others for money intrusted band b-and misappropriated bv him Winqtnn said MsCormick threatened to bring suit against tho corporation and asked the court to enjoin him and others from so doing The court took no action on the point today McCormick filed a suit against the company for 50000 damages The assets according to Winston are sufficient suf-ficient to meet all obligations and the value of the securities held by the banks exceed the amount of indebtedness by 10000 |