The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-10-24
Bad Break Of a Washington
Bank.
THE FRENCH GET WHIPPED.
Race ROw-U. p. VictOry-B. =, b.
CoIIision-SnOw-The Bru-
wick Succession-Etc.
BANK BREAK.
Allen G. CampbeII's Washington Bank
Goes Down.

WASHINGTON, October 23.-The private
banking house of H. D. Cooke & Co.,
this city, displayed the following notice
at the usual opening hour this morning:
Owing to our inability to meet press
ing demands, we deem it better for the
interests of all concerned to suspendt en-
porarilv." The firm consists of 81. d.
Cooke. Washington City, and a. u.
Campbell. of Kansas and Utah. The
latter is not in the city, and Mr.. Cooke
has remained at his residence this
morning. From Major John w. Car
son. confidential clerk of the house, 1t
it learnedSsthat the total Indebtedness
of the firm IS 10000, of which $5G,OOJ Is
fully secured. The liabilities are nearly
all due to Washington creditors, there
being only a few thousand dollars due
creditors in Baltimore, New York and
Chicago. The indebtedness to al
Washington bankers is abundantly
secured Mr.. Carson says there Is
every reason to believe the firm will be
able with some indulgence Of time to
paw all liabilities.
New YORK, October 23.-The report
on Wall street is that the failure OF ii.
D. Cooke g. Co., bankers, Washington,
was due to outside speculation. They
have been promoters of the Florida
Canal Company, and Washington and
Ohio railroad, both of which have been
heavy drawers on their resources.
Their Liabilities are $4,000, due to indi-
y1duals in Washington.
1t was learned at the bank that the
suspension results from unfortunate in
yestments dating back number OF
wears. The firms unsecured liabilities
amounted to about 100000 last Janu-
ary. They have steadily been paid OH
since that time, until they are now re-
duced to $40 600. The firm had at last
reached a point, however when the re-
manning assets proved tOfbe unavailable
for immediate use in market, and can
be realized upon only by good manage
ment and waiting for suitable opportu-
mites.
The firm had no interest in the Wash
ington and Ohio railroad, although Air.
Campbell individually purchased one
third of it for some $4,000 at the re-
ceiver's sale year or two ago.
Later in the day Mr.. Cooke was seen
bv a representative of the Associated
Press. He said he preferred not to dis
cuss the matter of the suspension until
he could see his partner, 1r. Campbell,
who is absent in the west and whom he
has been unsuccessfUly endeayOr-
ing to reach by telegraph. He,
however, assigned as the cause for
the susoension the general ssshrinkage OF
values, the present distTust throughout
the country and the consequent inabil.
ity of the firm to collect debts due, and
procure the CARRYING out of contracts III
their favor. My partner, Mr.. Camp,
beH, " said Mr. Cooke, sis unlntormed
As to this action. l have assumed the
responsibility taken. Cur actual liabill
ties of every sort whatever, after deduct
ing offsets on our books, is about $40,
coo. have no doubt the assets of the
firm, including railroad and land inter
ests, and deducting every questionable
debt due US, are more than ample to pay
off every liability"