The sun., 1890-11-21
WHARTON BARkERs FAILURE
The Ola Bankiag Firm sf Barker Brothers
d Co. Goes 90 The Wall.

The Old Baaking Firm OF Bark or Brothers
d Co. Goes 90 The Wall.
PHILADELPHIA. Nov. 2a-Ths failure Of
Barker Brothers 4 Co.. bankers and brokers.
was announced on the Stock Exchange this
afternoon. The firm is composed OF Abraham
and Wharton Barker. The firm at O'Clock
stopped receiving deposits ct their ofhoes at
Fourth and Chestnut streets. and at l:l5
o'clock tho doors were closed. The firm has OF
late boon doing very little business through
the Stock Exchange. An assignment has been
made to Edward Msllor. who Is the son-in-law
OF Mr.. Wharton Barker.
Abraham Barker. tho venerable founder OF
the hank, 70 the father OF Wharton Barker. the
other member He seemed overwhelmed by
the catastrophe which has befsllen the frm.
He 10 one Of tho best-known hnanoiers In the
country, and was formerly President OF the
Stock Exchange.
Mr. Wharton Barker said this afternoon:
The assignment is unavoidable. We hoped
TO be able to avert 1t. but Il was impossible.
People who owed US money. and upon whom
We depended. did not pay US We expected
that they would do 30. but they failed to meet
their engagements. and now We have failed tn
meet ours. That 10 oil that can be said now.
Of course. the condition Of the money market
has much to 40 with the trouble. Ine Inc sM.o syeD
Mr., Abraham Psrksr in December. 1887,
6nnss 70 hs sonSr shs HSs
hsa' sa aes sas faaS ss
dent Of the Stock Board. who sat et the head
q hs Ss ,I.Sna R nS iaS
sriSsts S % to iii him Sb . basiSess ness ma man: '.~ A'-l
Its rers that man n 20! business can
and It i stilI rsrsr in ths BANKING business
TO usn Mr.. Barker's owp words. No man has
hsS to et 5 r % s aas
1898 whsr:oR A., Barker Seesms member
R' His The n S they
hs d TN tn.a ss fh m
sIoI was a. that time highly o1s
whSS en fn saTrns out
The Inns ,nstsuct9ns Of the kus:ian Goystnment @ =,
eauinned them. fSs S .eal p'ss sspend iture was
several millions Of dollars, and the whole
VIZ Rpesa TO the
Nj. A: j; DreIel. who heard Of the failure
~ e too bss hsss
seems to me there was no necessity for max
The failure has been caused largely BY
81 afro %ssh nan
ciers and capitalists avoided, and when the
sSs s.n ISSRS oss 4 |
.9sd ne 0hS and
ssS oSio Sic ma hs SIeEs
down some time ago. and its bonds, which
block Of which = now 6sid 81 : Pr9mlnens
Ransial institltion are ssllin. fss 6eloM PAL.
81 lcsvsr
$500 900 M q sns o Bonds spp].sd ,1r s$s sps p
holders Would Get their money. and advised
nf% Sseson e :s R.ro. another corpo
an deaased BsF oa It's 1s. Co
%end.d % 6y Barker Bros. s I %. $50 Is sood in-
tySest%;ent Snd "a large number Wsrs % s9ld n
h the Bsrters were Interested. They advsneed
q shis
SSs Sss and saisss %s.SS Ssff
is ere Of The diFsesor. 81 the road: 49, ,c,....
fell from ss to 66, but. 4 70 suthoritativsy
% sSe % sDsoa iain nesting Of the directors of tho
e. q ;s Is
President was received and accepted. Woe
President Charlsmegns Tower, yr.. was eleot-
Cd President and DlrSstor Philip 9: Garrett
yisers to tbe frssiden!t i9r t6s present. 4 syn
Bros. d o.. tho freyidens, Life .and
psns ehss ana 5
Ing Of Annuites has been formed for the pur:
pose Of advancing to the Finenoe Company Of
Pennsylvania any amount Of money that may
ties. 1t 10 asserted that the company is GER
talnly solvent and. with the assisiancs s.an Of tie
SsIsis ia ,s I.asss,t ssIss oapFsd R The
Company Of Psnnsyivania Is one oi the newly
created inyestment trust GO companies, and had
snoHptI9s to gniy $4,000. due mostly 70
chiefly banks holding the company,s notes
amply protected by collateral The business
pent Of real estate IN PhilsdelDhia lor the
Heading Terminal Railroad and the floating OF
railway securities and similar Investments.
HONEY EASY IN BALTIMORE