The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-11-26

FINANCIAL TROUBLES.
New York Suspensions Failure Of an
Old Cotton Firm,

NEW YORK, Nov 25.-The suspension OF
j. G. Waldron was announced to-day in the
Stock Exchange.
Richard N. Allen & Co., bankers and COM
mission merchants at 81 and 80 Broad
street, have made an assignment. Their
liabilities are Sl,eO0,0o0 The firm was
composed of Thomas and Henry Allen OF
Memphis, Tenn, and Richard Allen of
New York. ..".. ::
MEMPHIS (Tenn.), Nov. 25.-Thomas S.
Allen & Co., one OF the oldest cotton factor
firms in the South, has failed. The an
nOuneement has caused sensation. The
firm claims to be able to pay dollar for dol :
lar. Liabilities. s75o,0Oo; assets. 81, ,50o. 900.
The assets consist largely of plantations in
the Mississippi VALLEY. Offers Of assistance
were rendered the firm yesterday by the
bank, but were declined. No mopeyed in
stitution OF Memphis will suffer by the sus-
pension, as they are amply secured. =. -. =:
DETROIT (Alich.), Nov 25. Mortgages ag-
gregating 100000 were filed by the Potts
Salt and Lumber Company to-day. This is
looked upon as the forerunner of an exten-
sive failure. Attorney Lucking says it is
optional Tor creditors 10 seize or permit the.
value are worth twice the Indebtedness, but
in the case of forced sale the result will be
bad. Mr.. Potts has been sick a long tlme,:s
and by some the embarrassment OF the c0lfl-
pany is attributed to bad management dur.
ing his absence. 1t is said the liabilities OF
the company will amount to million and a
half and the assets two millions, much Of
which is hard to realize on. -
SALEM On. J.), Nov. 25.-Starr & Co., can
ners, have assigned. Liabilities, Sl06,O0o;
assets. $4,000. -;
BUESos AYREs, Nov. 25-Tne premium
on gold has advanced from 225 to $50 and
closed at the latter figure. A financial
crisis prevails. Several credit houses are
closed. There was tumult on the Bourse,
and the police are called to Quell the dis
turbance.
The Argentine premium on gold is .
rumored to have reached 800. No further
kilograms have been received here.
PARIS, Nov. pa dispatch from Buenos
Ayres states that the President has issued a
decree SuppreSsing the publication OF BOurse
quotations Of the premium on gold, and
obliging bill discounters to quote paper ex-
change on Europe.
LONDON, Nov. 25.-The London Weekly
Dispatch, in the course of a remarkable
article on the late financial situation, says:
There is little doubt tnat the financial dfi-
culties of Barring Bros, who are Russias
bankers. we're Immediately caused by the
Jews. whose hatred of Russia is an excuse
for it. Being aware OF Messrs. Barngs'
reckless speculations. they dealt the blow.
hoping the Barings would be forced to fail
ure. and thereby Russia lose sewers millions
and have all her financial arrangements
thrown into confusion.
Thomas Barring has placed his large fo r.
tune at the disposal of the reorganized
Barring Company as a reserve liability. By
the articles of the association the company
agrees. with six months notice any time be-
fore December 81, 1895, 10 retransfer the
business to transferrers on the payment of
sum equal to 120 per cent OF the cont
pany's paid-up capital, or will convert the
then existing share capital into deferred
shares for trsnsferrers, and per cent pref
erence as shares at the rate OF 40 for each
100 for. new Shareholders