Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1890-04-10
1-R--7l7l-----l-
A su0CK AN BALL STREET.
George &. SIs;ure's SONS EatI for IL
--- pnnrlsr OF IL NIilinn,


NEW IuEK, April 7.-W4ll street was
startled this Ntterno Il by tho announce.
ment tnut the oli-nstgtlis hsd 1irm Of
George X. Slstare's Sons bAd suspended
owing 20 Il heavy defacation by tbe head
OF ther Philadelphia house, Mr.. Douglass
HllRer. who died two months ago.
The hOnOtonY oil Wall stree was broken
Mt 225 .7hen tle president OF tho Stock
Exchange rapPei on his desk, ana shocked
the brokers by reading this short letter
from the hrm
". Il. Bun, Eaq., President II Ner Po'k S'ort
Ff-ha -REhll SIR: owing o. the discovery Of
u very large lcincati0n and embrz2 cincnt on
tho part ut our late resident partner Ia l'hin-
dolphH, We aye compclIc to announce orr
su-peu-ipn All storks bought aud sold to-day
Will hc Delivered and paid Tor. Vary truly
you;s, GEORGE *. SlsIAEEs SONS.
Ih9 oews spread with great rapidity and
III f9W moments Was sent out on the
tlckeIs md became public property. The
itfn's uillses at Nos. IL aud Is Broad syreet
were crowded by anxious and questioning
brokers; but TO all their questions they re-
ceived meaIre informant n.
Harold Clemm5Ds, the New York partner
and tho only member OF the drm in the
Office, Knew nothing more than was said IN
/ the notice sent to the eSehenge-so he said
but he added thei a. 6 O'Clock there would
4 bs statement Tor the press. When 5
J O'Clock came Mr. Oiemmans had changed
! E's mind, and the statement wns NOT
/ issued. All tnqnlt!es We're referred to the
I firms lawyers 1T Mr.. IL. III. Slstere's home,
1 No. 81 East SiGtieth street. Everybody
was Informed that that gentleman was
! not III.
1 ". II. NJ. Slstare Is the board member Of
4 tho iirm, ami was admit Vi to the stock OK
| change IN 1868, He finally admitted TO Il
| reporter that the Philadelphia shortage was
i known h4iole lliiget's Death but he de-
4 clined TO say Whistler any proceedings had
been commenced against hs de'aulter. He
| was Ia consultation with his lawyers up 10
u Lutte bout, and an as9igl m Mt to them will
| probably ~ recorded 20 GtDrrow.
| At thc Windsor Hotel, where the brokers
70 OF an evening, the statement was made
that tho arm had lost by the emneza emsnt
s3lU,UOD 20 the least, but noe mOEa than
S2j0,Og0.
Three years ago the firm was badly
crippled BY a detHication, ACCOMPLISHED
mncn in the same manner that This ono ii
supposed TO have been done. At that time
the Detroit hrApch WIS IN charga of A. II.
Stanton, and was doing a good business.
Then 1t tran-plred that Stanton had taken
4 slE5,00O III various WAYS, and lost the
amount in speculation on his own hook.
Thia second blow has proven too much for
the finn.
This ended in the employment of four
local detectives about two months ago to
watcb H.iget's act ons and TO apprise the
new 1Ofb partners or mis- WHEREABOUTS
daily. he detectives were, &c is said, ordered
not to permit IIl!ger to so anywhere with.
out being Swallowed. 1t was about three
weeks before Hilget'S death TINT he began
to hs watched.
DouRlass EIlger, the partner managing
tho PHILADELPHIA branch, dlGd of typhoid
fever, although there was q story circulated
that be had committed suicide aud his de-
falcstion had been discovered Aoms days
before. Another story 10 that the shortage
was by the merest accident discovered over
two months ago. and that since then tho
fem hls beAn trying 10 get nj the bottom OF
the whole rlfilr, and to that end Informed
Hil9er OF the discovery.
Ola Nj. Slstare, who died In 1882, though
scrupuousiy honest man, was one OF
Boss rwesd's friends, and It was through
his office that most OF rho city bonds were
negotiated. He made lots OF money in
these days, and It put him away up at the
mead Of the list of EN- who dealt n stocks
and bonds.
= In 1856 Clemens and Hllger were taken
Into the Am. They built IL mp wonderfully
IL tho way OF branch offices, having halt a
dozen right hero In this city, In addition to
those IN Philadelphia, Washington and
Detroit,