New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-27
cArEIED DoUy 81 uETRoFoLIT4N
SUSPENSION or STOUT q co.-HAsTY SAILS UNDER
THE RULE.

srsrrv-ioN or STOUT & Co.-HAsrY SAILS UNDER
THE RULE.
The failure Of Stout q Co., at No. p Broad
A. was announced the stock Exchange about noon
YESTERDAY. The Hun composed OF Joseph : stout
.o, az tie Late Andrew V. stout, WHO was
,rfLroru a president Of the Shoe and Leather
National Bank: and r. r. Purty, who was con
uerted by marriage with tho stout family The senior
member Of the firm dad not reach the ONCE nhih aer
noon and the Junior has been iI for several DAYS W."
said In behalf Of drm hat no statement d lts ahrS
ud lie mace FOR several days. but that negotiations
were pending which might end in the speedy resunIA
ton n business The failure is understood to
have been caused primarily by tie calling
f loan. ON Metropolitan Elevated Railroad stock OF
which the firm has been carrying large amount Tor sew
oral wears The most Of the stock belonged 70 three Gus
toner ,or whom : H. Kneeand was onel' although Mr.
sou, took an active part IN the Elevated Railroad con
test and was q member OF tie board o. director.
Of the Metropolitan company. The resources o!
,be firm have been taxed 70 carry the STOCK
for which there MARKET on account o. the pro
tracted litigation. Ar agreement for the settlement OF
the DISPUTE reached several weeks ago ont " us not
beeu ratified by the stockholders OF the companies
Meetings o. the New-YorE and Manhattan companies
w.. adjourned on Wednesday for tue reason, II was
aid tbat The Metropolitan had not completed the IsgA
rap4r. necessary 10 the adoption OF the plan l. D
Anderson who has been In charge OF the STOCK ExcDage
bpsiuess Of the house said yesterday that the agree
neut had approved by the stocAhO'ers w "suuo
dav the suspension OF the firm would probably
have been avoided. Some people who were
lending us money on the stock" he remarked
" liked WIN the agreement had not bean ratified,
and AT once called their loans our eu-tomeIs
could not put up additional margins anu We nend IN
realize on the stock. We thought It bc-tt suspen9 III
order u protect the interests OF al Win u M
Tue most interesting feature OF the IHIie t va ae
action OF l. Hudson CO., the nrm OF whleh henfy a.
smith SPEC partner Ca me o yo1 centr
stock loaned 10 H. The word quietly wasread 3uic l
H." and Nj Hudson az once seut nolce to inc CnA -a
Of the stock Exchange e. se the stock under me not
read, but the stock was sold In accofdAnoe VIII
It's terms. soon after the saie was ,l.,o may" Nc
lie firm was obliged 10 announce lite suspension ~"
ufe feeling WAS manifested BY the members OF ihe hA
change because the action Of Hudson 20; wac TO
garied attempt 10 deprass the market IneIc Naa
tax about ealing special mretng oi ~, A. 1900
ing Committee consider tne circumstances out u es
nrsi~ft Of BE- Fxehaugc decided that Hudson %
w.re lslrd IN their course by the rules OF VIC n
add Yesterday afternoon but supposed that wa lo
lowing tus'ruot0us. The loan had been renewed noI
naturally read hurriedly Ny mistake exposed On ~,
sDlvency which might have been coIee tlru
of m BAL len sny circumstance although many persons
vii a. that / dld II for a purpose. nave maze an
apology 20 Co for the error and can re@I 10 10
several broker. interested in the Metropolitan stock
said thai the n1ees sent out ~ AZ . pj ~
tuf that hey were act nothing colIa oe EA'no1 tss
ealing the stock under the rule tome ~euv nouees
were Issued, bat no other saIes ahasi me -
Tlls fact proved 10 tAem ihat hu son y "isnsa -
taksevery advantage II Is nnderst "a .Ae oIoAeH
aTn has 90 outstanding contracts a .e asc1 on the
course on prces The market was unse lied and Wsss
ali day under the eadsr.hlP o. we sSP rom
M bisb,s point although Il rallied ~ the close : par
con, canada southern closed pet cent lews o. 20 y
f,r having sold Is, but was not one OF lDr scVe
.o-s iscFawanua aud Missouri Pacific were eAeep-
s,ens a. usual a'ey IN recording maj advances There
saa marked absence OF rumors Of any kind