The Portland daily press., 1873-09-15
NEW YORK.


NEW YORK, Sept. 13-John A Parker, ex-
President of the Great Western Insurance Co.,
and for a long time prominent member of
the New York Board of Underwriters and very
claims, died at his home to-day from an attack
of paralysis. He left in manuscript volume
entitled THE Origin, Progress and Consumma>
ton of the Treaty of Washington"
The Wall Street FaiIure-DanieI Drew's
House i'm Ruins,
Considerable surprise was occasioned in the
Stock Board this forenoon by the announce
ment of the suspension of Kenyon, Cox & Co.,
one of the Oldest and most respectable firms on
the street. They give as explana ton their
large Endorsements of railroad paper, which
they are unable to meet. They were promoters
and heavily interested in the Canada Southern
read.
1t was believed at first that the failure was
due to heavy dealings in Wabash on Daniel
Drew'S account, and that stock accordingly
dropped four per cent just before the announce
ment was formally made 1t has since been
ascertained, however, that the Wabash pool
was not in their office.
The firm consists of Kenyon, Cox "a brother
of Governor Cox of Ohio) Horace Mannel, W.
III. Hutchinson and Daniel Drew. For year
past the firm has been known on the street as
Daniel Drew's house. The amount of liabili-
ties has not vet been stated, but it is believed
there are sufficient assets to fully meet them
The whole market declined from one to four
per cent. before the announcement, the failure
being known to few. The market has 81 nee,
however, steadily improved.
LATER-The excitement over the suspension
of Kenyon, Cox & Co., has abated. Mr. Ken
yon went to the Stock Exchange and paid up
on all contracts. The suspension is temporary.
Daniel Drew has been telegraphed for to Eu-
rope There is no foundation for the sensation
al statements being telegraphed over the coun-
try. in interest of the Bear speculation, that
the failure was due to Wabash dealings. The
effort to create panic has failed.
Kenyon, Cox, Daniel Drew and others loaned
their paper to assist in completing the Canada
Southern road, trusting to further negotia-
ton of bonds at London. Last Monday advic-
es were received from London stating that it
was impossible to negotiate more bonds, and
consultation was held of the parties in the in
terest of the Canada Southern. Some were
willing to contribute their quota and others
were absent from the city, consequently no uni
ty of action could be had, and Kenyon, Cox &
Co., finally resolved to suspend,
The parties connected with the Canada South
ern Railway are among some of the richest
and most influential railroad men of the coun-
try. In regard to the immediate effect in Wall
street many suppose that the suspension of the
firm would cause large amounts of stock to be
precipitated on the market, and acting on this
theory there was a rush to SELL which caused
decline Of about and per cent in the gener-
al list.
This heavy decline in Wabash was based on
the supposition that the firm and its friends
were large holders, but it appears that they
have been relieving themselves for some time
past, and hence there was comparatively little
stock sold.
Various Matters.
The total imports for the week are $6,676, Cos,
of which SAL 1887 was merchandise and 81
503,7 dry goods.
The specie shipments to Europe to-day were
S114, $40 in solid bars.
General McMahon has reported to the Exec
ptive Committee of the Cuban League, that
Yice-President Wilson has been informed of
his election as President of the League, but has
not yet made an answer. The League is now
preparing an address to the people Of the Unit
ed States.
G. A. Keep & Co., bankers and brokers, who
were fortnight age robbed of $4,000 in gold
notes, bonds and currency by young man in
their employ, have had nearly the whole
amount returned through the feiends of the
embezzler. The small amount withheld was
spent in travelling expenses.