Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1884-10-30
] ,lsE IN .Ka1l1u

N
The banking F1raasef D. II. Cooke, sfaqos,
Its Doo1a Ihey Promise to Pay . Hum
Ssissss lis-s - .
I winnGrox. D. G. October "a
he hnsing house Of d. n. Cooke &
CQ<clo4ed It's doors this morning. The
sohcern had q cafll6e Of $3.50, 900 to ST.
Do0, 700, and had almost unlimited credit.
It Is feared thatcher houses are in
volved, and will be dragged into bank.
ruptcy. Thecrashransed agreat .sensa.
ton in mercantile and financial circles.
The fPpopns,of ssse st fnp liabilities are
D. q. Cooke Is brother to Jay Cooke,
whose failure preclpftated - panic Of
ITS. A meNtmrDk &4xd lated this
,norning tn BE E il III do not
8oo. It is shdl. -, zhsxsss that the
crash will prove disastrous. The
] friends Of Cooke say that the firm Is
only temporarily embarrassed. go
Its generally believed that specula-
ton in RAILROAD stocks In which the
firm has beeh extensively engaged for
some time, is the cause of thesem.
barrassmeut Cooke rsis "a general ia
yorite among his brptaef bankers here,
and it is believed be- can raise any,
amount necessary to resume business.
4. The following notice was placed on the
door OF the banking house tiis morning:
e SOwing to our Inability to msetpressings
demands weA desn i sxpsdient for the
best interest of all c6ncernrd to suspend
temporarily" ~ soA ~
loan of $4,000 to bridge hin. over ! his
tmbarrasslnent, But the Arm declined the
assistance
On the fir#zof January last theIliahili.
ties OF the house amounted to four hun.
ared thousand dol.ars. To-day they are
a huGdfeds and forty tnoh sand dollars.
The available assets aggregate about
hundred and three thousand dollars,
which includes u one-third interest 10
the Washington,s Ohio 81 Western Rail.
road, vaiued at ninety -fodr Thousand dol.
liars, which is now paying six per cant.
and forty thousand dollars In the bonds
Of 5 hsae f.9s,dy GPda 9se pssias
can & i. present ssua tsshasa 9 Sas i actual
value, owing to stringency in the market.
1t is said the outstanding paper iof the
firm is amply secured by collaterais.
This tatement is borne out by the banks
holding such paper. The firm had but q
few depositors, its business being princi-
pally buying and selling of stocks, $3.50
A brother Of Cooke Informed d repre-
sentative of the United Press that the.
firm will pay a hundred cents On the
dollar, but il doing this .thevsecurities
Held Aby@thes bank Which, Ca ~ not be
realized on just now to the extent OF
their par value will have to be used.
Mr.. Cooke stated this morning that he !
preferred not to discuss the mAtterqof !;
the suJpension3until he lad seen his
partner, Campbell, who is absent in the
West, and lWhomrhe had heen~endeavor-
ingstoS reach by telegraph, but as yet
without success.
eThe cause, OF the failure; said Cooke,
sis attributable to shrinkage in values
and the general distrust prevailing re-
gardiug everything aud everybody, and
consequent sinab ility TO collect debts due
thez Arm, and carrWs gsout coftrdcts Id !,
their favor. My partner, Campbell.
is absent in the West, and uniformed
of the action I : have assumed the
responsibility of taking. The actual LA !,
bilites of every scrt, after deducting
offsets ION our books, iSssaboutsa hun.
ldrad and forty thS6sand@ dollars.
have no doubt the assets of the firm,
including railroad and land interests,
and deducting every questionable debt
due us, are more than ample top pay every 4
liability. II i8sf1