Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1883-11-15

MORRIS HANGER.
Special Cable to the |
Nows.
Liverpool, Novcm-
Der IA survey o. the |
wreck caused by the
failure II Ranger, |
Wednesday last, now
shows that 10 firms |
were bankruptcd and |
several were 80 badly |
crippled ms to be al.
ready topping. II is |
not believed the list of |
evil results is yet COM
plctcd, and next set
Ting day, saturday, Is |
with anxious |
fOrebodlng and con
ylctlon that 10 will !
bring the announce
mcnt of several more |
failures.
a meeting of Ran
gers creditors was |
yesterday announced |
to take place on the |
22d instant. Tits prob |
able that IL will be n |
stormy one, as the |
feeling against Ran. |
ger is very bitter on
the part Of many OF
the creditors.
Ranger lived quiet
ly, and his habits were
remarkably simple
and regular. He
walked to the cX-
change every morn
Ing, lunched modest
ly at the same table
IN the Angel hotel for
many years, and mt
the end of the days
business was driven
home quietly In n cab
tie gave to certain
charities freely, and
was generally respect
ed. In fact, excepting |
some his victims in
the exchange, no one
can be found TO speak |
har-hly of him. In
order to get Rangers
own explanation OF
his failure and of his
huS ness methods,
your correspondent
to-day Obtained an in
terview with the great
SPECTATOR, which was
as pnrcntly frank and
unrcservcd on his
part. In answer to In
qnirics concerning his
misfortune, Mr.. Ran
ger prlskly replied:
"pshuw, tits useless
to grleVc over this
trouble-it Is only for
for tune of war ana
| might have expected
to receive II knock
down blow once
in n lifetime.
l have been an
operator on the Liver
pool exchange for
sixteen years, ana |
can unhositatingly
say that during all
these years / have
never used unworthy
means to in u Z any
one to speculate. My
operations have al
ways been open SIS
daylight, and every
one could see my
methods of business.
"Whut, then, caused
the unexpected crash
and Immense losscs?"
"Slinply that the
brokers rushed for
ward too fast and too
far In the face OF plain
facts which should
have made them eau
lious. Those who
have been betting un-
derstood perfectly the
risk they were incur
ring. and If the tide
had turned the otner
way they would have
pockctcd their gains
without n remark.
However / hnVe had
the satisfaction Of rc.
cpiVing assurances of
sympathy rom many
quarters, and can not
but be grntiilcd to
note the absence of
reproaches from these
with whom ! deal.
My transactions have
often extended to SjD,-
20 900.
"What were tho facts
which you say should
have given the warn
ing of trouble?"
"The principal one
was the partial failure
OF the American cotton
crop. This necessarily
caused a rise in prices,
and those who had
been operating on the
bear side of the boursa
suffered by the ups ct.
ting of their calcutta
lions. Then the bulls
pushed their advan-
tage and short Operat-
nrs had To go 10 the
wall"
" y hat about the cx.
tcnSive speculations
You ARE said u have
had In Americn?'
"rhat is all u mis-
take. ! have done
absolutely nothing In
the New York and
New orleans markets
during the last eight
months, and | owe
nothing In those
cities, despite asser-
tlons To the contrary,
which have been 50
freely made by some
of the newspapers. My
operations have been
almost exclusively
confined to Liverpool
since the spring of
1882. Some of the news.
papers, / see, iuclud-
Ing the Times, have
urged the adoption of
the American system
OF lodging margins in
cotton operations as
the means of prevent.
ing speculation.