Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-10-23
!:@Sls575 &
ASSOCIATED PRESS DISPATCHES.
Failure of q. D. Cooke & Co.

WASHINGTON, D. c., October 23.-The
private banking house of H. D. Cooke &
Co., in this city, displayed the following
notice at the usual opening hour this morn
ing Sowing to our inability to meet press
ing demands, We deem it better for the in
terests of all concerned to suspend Temporal
! rily." The firm consists of II. D. Cooke, of
aud Utah The latter is not in the city,
and Dir. Cooke has remained at his resi-
dence this morning. From Major John W..
Carson, who is confidential clerk of the
house, it is learned that the total indebted
ness Of the firm is $4,000, of which amount
$50 900 is fully secured. The liabilities are
nearly all due to Washington creditors,
there being only few thousand dollars due
to creditors in Baltimore, New York and
Chicago. The indebtedness to all Wash
ington bankers is abundantly secured.
Major Carson says there is every reason
to believe that the firm will be able,
with the aid of some indulgence as to
time, to pay all their liabilities in full.
1t is also learned at the bank that the sus-
pension results from unfortunate invest
ments dating back number of years. The
firms unsecured liabilities amounted to
about $4,000 last January and they have
steadily been paid oflSsinee that time until
they are now reduced to $l40,0 The firm
has at last reached point, however, where
the remaining assets prove to be unavail-
able for immediate use in the market, and
can be realized upon only by good manage
meat and waiting for suitable opportunities.
The frp1 had 40 interest in the Washington
and Ohio Railroad, although Mr.. Campbell,
Individually, purchased one-third of it for
S94 900 at a receivers sale two years ago.
Later in the day Mr.. Cooke was seen by
representative of the Associated Press.
He said he preferred not to discuss the mat
ter Of the suspension until he should see his
partaer, Mr.. Campbell, who is absent in the
West, and whom he had been unsuccessfully
endeavoring to reach by telegraph. He,
however, assigned as the cause of the sus.
pension the general shrinkage of values, the
prevalent distrust throughout the country
and the consequent inability of the firm to
collect debts due them and to procure the
carrying out Of contracts in their favor.
"My partner Mr.. Campbell" said Mr..
Cooke, lis uniformed as to the action that
have assumed the responsibility of taking.
Our actual liabilities of every sort whatever
after dcducting offsets on our book are about
$4,000. have no doubt that the assets of
the firm including railroad and land interests
and deductine every questionable debt due
us are more than ample to pay Of every
liability"
New YORK, October 23.-The report in
Wall street is that the failure Of H. d.
Cooke s; Co., bankers in Washington, is
due to outside speculations. They have
been promoters Of 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 individuals in Washington. Assets are
made up Of securities Of indefinite value.
They have not done any stock business for
some time. Grosbeck s Schley, their New
York correspondents, closed their account
some months ago. No creditors in New
York.