New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-13
WALL STREET EASIER.


terday that the firm owed about 3d. 000, 900, which
was covered by collateral at 20 per cent margin
q the time of making the loans. The firm had
ON hand, he said. about 100000 in securities,
and about twice tha* sum was due in cash, which
il was Thought would be paid within the next few
DAYS and would 60 toward making up to creditors
any deficiencies on securities The creditors had
thus far borne themselves most amicably, and
some of the larger ones had offered several days
to straighten out the difficulties il possible. The
Arm owed nothing outside of the 81, 000,0 900 due
on loans, the securities ON which were deemed
sufficient when the loans were made. Mr..
Quintard said that the question of whether Whit
ney & Co. would be able to 60 on with their
. business depended upon the state Of the market
the next few days and the value Of the securities
pledged.
Charles M. Whitney, Frank NJ. Larchar ana
Edwin S. Larcher, members Of the firm OF whit-
ney & Co., yesterday fled individual assignments
to Mr.. Quintard.
j. G. wALCoTT ASSIGNS.
The assignment was announced at the Stock
Exchange shortly afternoon yesterday Of j. T.
Walcott & Co., bankers and brokers, at No. 81
Pipe-st. The firm which formerly did business
under this name dissolved about q year ago, the
other partner retiring, and since that time j. e.
Waloott has conducted the business under the old
firm name. Mr. Walcott has been connected with
the Stock Exchange for about eighteen years. and
his house was deemed perfectly sound Tie sus-
pension was ascribed. at the of1oe OF Walcott q
Co. to the failure of certain clients to meet their
engagements and to the refusal Of the Continental
National Bank to certify the firms checks yester-
day morning This refusal was made, 1T was
said, because, through clerical error in making
up the balances Tuesday night, it appeared that
the firm stood about even with the bank. and the
bank declined to give Mr.. Walcott any credit yes
terday morning. This predpitatcd the failure.
No spproximated statement of the firms affairs
could be given either at its Office, or by Colonel
d. B. Sickels, the assignee. but it was thought
that the liabilities would not amount to more than
$4,000, and the assets would be ample enough
to secure creditors.
The Third National Bank did considerable bust
ness with Mr.. Walcott making loans through
him on the Stock Exchange The house was con-
aidered on the Street to be doing fair business
with safe customers. IL owed the Continental
National Bank loan that was not large. and the
collateral was sufficient to secure it, The assign
ment had little effect on the stock market.
SALES AT THE EXCHANGE.
The sales of Walcott a. Co. at the Stock FIX
change yesterday were as follows Cleveland, Gin
cnnati, Chicago and ST. Louis, 500 shares; Chi
cago Cas- 100; Louisville and Nashville 10:
Toledo and Ann Arbor, 100; Illinois Central,
100; Erie preferred, 100; Wisconsin Central, 90 !:
Erie, 100: Alton and Terre Haute leo; Atchison,
800; Union Pacific, 900; Richmond Terminal,
100; Wabash preferred, 100; Northern Pacific IS,
Columbus, Hooking Valley and Toledo S. 81 900 !;
Louisville, ST. Louis and Texas, first mortgage.
So, 600 East Tennessee, Virginia ard Georgia 5s,
1000 Union Pacific Sinking Fund IS, $1,000 I;
Ohio and Mississippi consolidated seconds $4,000 !;
Wabash second mortgage IS, $1,000: Missouri
Pacific thirds. $4,000: Delaware and Hudson,
1000 shares; Denver preferred. 200: North Amer
lean, 90; st. Paul, 300 Laclyawanna, 1000.
The purchases were: Louisville and Nashville,
100 shares Lackawanna, 800; Cleveland, Cincin-
natl Chicago and St. Louis. $50; Chicago Gas,
100: Richmond Terminal. 100; North American,
100: Illinois Central, 100.
AN UNIMPORTANT SUSPENSION.
b. X. True, broker at the Stock Exchange,
announced his suspension late in the afternoon.
He had no outstanding contracts on the Exchange,
and his failure was regarded as unimportant
Mr.. True has been member of the Exchange
since February, 1885.