New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-16
MR.. DORM CAN PAY HIS DEBTS.
THE LIABILITIES OF THESE JOBBERs IN STOCKS
ARE LIMITED.

THE LIABILITIES OF THESE JOBBERS IN STOCKS
ARE LIMITED.
The creditors of the Doran & Wright Company
nimited may be pleased to know that President Dorah
confessed TO officers of the Consolidated Exchange yes
terday that he was perfectly able to pay his DIS.
on account OF the published stories he was summoned
before them to explain Tie statement that the failure
~ the company would be announced at the " htue
exchange The Doran d Wright Company was
formed to supply quotations to bucket shops through
ont the country. IL bucket shop without the
usual unpleasant accompaniment OF an unwashed
crowd The president expressed this arlstocrauc
dieerence by the remark that the company was
&" iobberr in stocks The phrase will be catching
one for it is English and probably every bucket Shop
i'm the country will Immediately adopt 1t. whether
the losses of the creditors Will be sweetened by 1t Is
doubtful question.
The usual custom among bucket shops is TO fail
whenever turn in the stock market makes dsburSe-
ment Of money imperative. The failure OF limited
liability company engaged in the business does
not violate the rule. Tie fact that President Doran
can st prove his solvency and that Mr.. Wright, VINO
vacation may be a substantial satisfaction TO the
creditors Of the The victims are not entitled
to sympathy because they have contlouted 10 lhe
support of "iobbers' in stock.
syracuse, n. y, May 10 (SpeciaD.-The failure OF
Doran Wright has resulted in temporary demoialza
ton Of business In two brokers' Offices In thls cly'
those of Fredercks & Co. and Burnett & Forbes, In
the White Memorial Building. The former firm at
tached the account Of Doran IL Wright on April 70.
Quotations have been suspended at both Of the
Offices referred to- At Fredericks a CO.'S office it was
stated that arrangements WOULD be made 10 carry on
business with another firm, either with Mr. Frederlcks
at the head or some equally responsive person. II
Is thought that Frcdercks Co have suffered TO some
extent. Mr. Forbes stated that 10 one had lost a
dollar from the failure In his Office.
scranton, Penn, May II (SpeciaD.-The stock
brokerage Office of L. e.. Labar Co.. Of this city,
was closed today account of the failure OF
Doran d. Wright, Of New-lork. Labar az Co. trans
acted all their business with Doran & Wright and
their liabilities are estimated at from o-o,OOO To 900,
900.
Philadelphia May 15.-C j. Fisher e Co., pro
pretors of bucket shop, with office in the Girar
House. were unable to pay claims to-day. Fisher and
his brother, who compose the firm, both IN New
York the booccper declares that the embarrdSs-
ment is only temporary. The liabilities are not sup
posed TO exceed $1,000.
Boston, May - (SpeclaD.-The tremendous boom
in stocks has been hard on the bucket shops, John
stetsons establishment being the only large that
has wcathcrcd the gale. some have stopped short
and refused all orders, while others have gone under
Robert +. StraIne, Boston operator, has assigned
for Sls0,o0O. The assets estimated sufficient
TO liqudate in full.
The Doran-wrisht Company of Boston has sus-
pended. The company has branches in nearly every
city and in New-EngLand which has over
10 900 inhabitants.
The New England Stock Exchange posted the fol-
lowing notice to-day:
OWNS TO the present bull market. the New.England
stock Exchange has suspended will probably make
settlement tomorrow. The Liabilities are between
$4,000 and 100000.