The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-10-24
a BANK BROKEN :


pear to Have Bcun Too Much for It.
WASHINGTON, Oct. 23.-TheS private
banking house Of H. D. Cooke & Co., this
CITY, displayed the following notice at the
usual opening hour this morning: n
Owing to our inability to meet pressing
demands, we deem it better for the inter-
ests Of all concerned TO- suspend tempor-
arily.". 80 ,,s.72l4 .'s.isgg
The firm consists Of II. D. Cooke, Wash
ington city, and A. G: Campbell, Kansas
aud Utah. The latter is not in tho city
and Mr.. Cooke las remained ut his resi-
dence this morning. From Major John
w: Carson, confidential clerkof the house,
it's learned the total. indebtedness Of the
Of the firm is Sl70,0De, Of which S3O, 1000 is
FULLY secured. The; liabilities arc nearly
all due Washington creditors. there being
only few thousand dollars due creditors
IN Baltimore, New York and Chicago.
The Indebtedness 10 all Washington bank.
ers IS abundantly secured; z Major Carson
says there IS every reason to believe that
the firm will be able, with the did OF some
Indulgence and time. to pay all liabilities
in full t,l ,s.,t.. =, 81
A prominent banker offered Mr.. Cooke
a loan OF $4,000, to bridge him over his
Embarrassment, but the firm has declined
assistance. On the. first Of January last
the Liabilities Of the house slmounted to
S4O0, ,00O. The available assets aggregate
about Sl03, ,00O, which includes third in
terest in the Washington, Ohio 4 Western
Railroad, valued ut sI4 900, and which is
now paying Six percent; and SO, 600, in
bonds Of the Florida; Coast Caral, beside
large interests In telephone stock. None
OF these holdings can be at present real-
lied upon 1t their actual value. It is said
that the outttanding paper Of the firm Is
amply secared by collateral, and this state
ment is borne out by banks holding such,
paper. The firm had. but few depositors;;
their business being principally buying
and selling stocks. .}e i !. ii
Mr. Cooke stated to Q reporter thisa AFTER
noon that he preferred not To discusss the
matter Of the suspension until he had
seen his partner, Mr.. Campbell, whom
tie had been endeavoring to reach by tele-
graph. i IS, d ..i 81 81 Is
"'lhe cause OF the failure" said Mr.
SCoHS1 10 dtL 4UuL1kJlt. " LIE SItIlIlkuHc Ol
values, and The general distrust which
prevails regarding everything and every
body and the consequent inability to col
lect debts due the frln,i and the carrying
out of contracts in their favor! My part-
ner, Mr.. Campbell, is informed ofthe
action that have assumed the RESPONSE
bitity Of taking. Our actual liabiliiles of
Of every sort whatever, after deducting
offsets on our hooks, is about Sl40, 600. i
have no doubt that the assets Of the firm.
including railroad and land interests, and
deducting every questionable debt due US,
are more than ample to- pay of eye;y
liability" ~ = ~ 80 -
New YonK, Oct. o3.-The report on Wall
street is that he failure Of II, D. Cooke &,
Co., bankers, of Washington, is due to,
outside speculation. They have i!been,
the promoters Of the Florida Coal Compa.
ny and the W ashington 4 Ohio Railroad,
both of which have been heavy drawers
on their, resources. Their liabilities arc
$3.50, 900, due individuals in Washington.
Their assets are made up,o securities OF
indefinite value. They have not done any.
stock business for some time. Grosbeck
and Schley, their. New York correspond.
ents, closed their accounts; some months
ago. sy,y.sSS; Isl y ~, 4. gE.