The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-16
NO MOURSERS ON 'CHANGE.
The Dorian a. Wright Smash Not An.
nounced on the Com olIdated.

The Doran IL Wright Smash Not An.
nounced on the Consolidated.
The Doran e Wright companies of this
city and Boston. which were separately CAPT.
tailed for 100000. both suspended yesterday,
| according 10 announcement. Their business
| was something of the bucket shop order. and
their creditors are widely scattered none be-
ing In New York. A conservative estimate
places tho liabilities from $500. 900 to 100000.
Letters and kilograms began pouring into
tho Office ut 10 Wall street yesterday, aud as
Secretary y. d. Williams said. some were of q
character to make one cry. Some wore from
brokers whose only resources were placed with
the firm.
Mr.. Williams said that it would take several
days to ascertain how they stand. lie could
not say in what city tho most creditors are or
name the largest creditors. He said there
were practically no assets. Since they had
issued notes to their creditors some tme be-
fore to stave OH a suspension they had let
their creditors trade with them on the notes.
Since that time there had been an almost con-
slant rise in the market, and the companies
they issued tho notes. Everything they had
had been converted into cash and they had
nothing left
They owe nothing on the exchanges. Their
failure was not announced on tho tonsol-
dated Exchange. The officers of the COnsol-
the bucket shop would formally announce Its
suspension i'll that Exchange, and some OF the
members OF the Consolidated Board were con-
siderably worked up at the assumption that
the bucket shop had any connection with them
This resulted In formal announcement by
the prominent members that such an assump-
ton was grossly misleading. President Wilson
Of the Cone oIdated Exchange had an interview
with s. J. Doran early in the day. He said that
DOran denied the correctness OF the statement
that he intended to announce his individual
suspension. as he did not owe dollar to any
one. Tie DorHn \ Wright Company which
sent ont its second letter OF regret on Wednes-
SYRACUSE, May l5.-Tho failure OF Doran Il
Wright has resulted in tho temporary demon
ali2Hrion OF business in two brokers' Offices in
this city-those OF Fredercks d Co. and Barnet
Forbes, in the White Memorial building. The
two offices received their quotations from
Ioran 4 Wright. and did business through
them. No trading has been done since tho 18th
suspension. Fredericks * Co. attached the nc
count OF Doran \ Wright on April 26. At bred
cricks i co. 4 ONCE IT WAS stated that arrange
ments would be- made TO carry on business
with anot her flrnL
Sir. Forbes stated that no ono had lost dol
prepared TO say whether be would continue
business or not. I he branch house of UoTan
n Wright in this city was closed TO- day 1t had
charge OF all business of the firm south of Phil
adelphia, and large number OF EMPLOYEES
were on the pay roll. Customers had as a gen
eral thing Withdrawn their money several
weeks ago, and the loss In this city will amount
ness n ashinGton during the last year or two |
has boon Noiy disastrous to the proprietors. |
and tnoro are but few bucket shops REMAINING |
in business.