The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-11-08
GERMAN IMMORTALITY
Two Berlin Bankers Who Fail
Commit Suicide.
THE EMPEROR PLAYS HERCULES
He Is Determined to Cleanse Society Of tbe
Social Evit-The Fast Army Officers
Warned by Their Colonels.

DEhLlN, NOV. G.-l Copyright, 1891, by the
New ork Associated Press. IA sensation
was caused in financial circles to-day by
the collapse Of the banking institution OF
trledlsnder 81 Summerfeld. The usual
scenes OF excitement among creditors o.
CURED around the offices, and the effect
may be imagined when il was announced
the leading party in the concern, together
with his son, had committed suicide. The
failure Is associated with the recent sus
pension of Hirschfeld g. Wolff. The fact
mat trledlander 81 Sommerield were fl
nanclally embarrassed and would find Diff
hculJy In meeting their obligations was
known to some OF the operators on the
bourse here early in the day. Large forced
sales were made, and this action was
vaguely attributed to local financial
troubles. These sales caused general and
heavy fall in prices, but the business of the
day was over before the tragic incident
closing the career Of the bankers became
generally known.
AS the facts in the case developed. 1t an
pears the father and son met in their Office
IN the Dank early this morning and dis
cussed the crisis in their affairs. Altar
talking over the matter pro and con thew
NoHSAu ueu IHat, Us tney were hopelesSly
embarrassed, they would die. 1t ia under
STOOD this resolution to take their own
ives was In great measure due to the
Iact tnat thelr arrest was pending as Felix
Sommerfeld, the son, had become involved
In speculat1onS which were more than
likely TO lead to his arrest on a criminal
charge. Having arrived at the decision
that death was preferable to arrest and
disgrace, both the father and son shot them
selves in the head, using revolvers. When
the clerks IN the Office, alarmed at the re-
ports OF pistols, ran to the private office
they found the father and son still alive.
Ihey were conveyed to the hospital in q
dying condition.
The firm has been in existence for long
time and held good position in the financial
world. Since the Hlrschfeld 81 Wolf fail
ure many or the principal clients Of Fried
lander q Sommerfeld becoming alarmed
regarding the stability of private banking
houses, made heavy withdrawals of de-
posits. Herr Sommerfeld tried to meet the
difficulty by attempting to realize en- invest
ments. These, however, were locked m in
industrial and other stocks which were not
readily marketable, and eventually it was
found impossible for the firm to meet their
engagements. The best informed mem bers
of the bourse say they do not expect the
failure Will precipitate period of general
disaster, though 1t is certain to greatly in
crease alarm among the investing classes
Ihls evening large crowd assembled in
front of the bank and threatened to carry
the building by storm TO recover their
securities. The police had great difficulty
| in restraining the mob from carving their
| threats into execution. Friedlander. the
| senior and surviving partner, is staying at
| Mentone. A telegram has been semi sum
| monlng him to return to Berlin.
| Inquiry into the affairs Of Hirschfeld &,
! Wolff realizes the worst anticipations The
| firm has been in business sixty four years
and has as its chief Herr Wolff, who occu-
| pied several other positions Of trust. He
was prominent society man and lived a
| life OF ostentatlous wealth, his household
| expenses running to 400, 900 marks a wear
He did little in the speculative line until
recent years, when his private extraya-
gance and losses at the gaming table led to
| his embarrassment. He tried to recoup
his losses through dealings on the Paris
and Berlin houses. AS a matter of fact
the firm has been iEsolvent since 1873. For
q number OF years Wolff has been living bv
selling and paWnlng the securities of de
pOsitors, working in connection with
Banker Joseph Leipsiger. 1t is asserted
| that Violin, with all the facts being known
to Deipsiger, tiOated a spurious draft
! through Leipsiger and pawned securities
of depositors amounting in value TO $50, 600
marks. Leipsiger finally went to the wall,
Hirschfeld 81 Wolff.
Among the numerous aristocratic credi-
tors OF the firm are Prince Henry, OF Prus-
STA, who loses 100000 marks; Prince Gun
Their, OF Schleswig- Holstein, brother of
the Empress of Germany, 100000 marks,
and Count Luttichon, a prominent leader
in German society, 800 O0O marks. Other
members of the aristocracy are severely
hit. Wolff Is confined in Moabist prison
He is unable to make an estimate of his
liabilities. He has a number of heavy
gambling debts. Wolff was president Of
the Resource club, an organization com
posed OF wealthy parVenus and hnanciers
who are addicted TO reckless playing. tits
recorded that upon the eve of the failure
of the firm Wolff refused to pick up a
couple Of thousand marks in a bill which
had accidentally dropped at the gambling
table. He left the money on the floor for
the walters.
The Emperor designs to cleanse high az
well as low society, and his good intentions
have received an impetus from these dis
closures. The Wolff clique Haunted demi-
rips in sumptuous raiment in the bess
boxes of the opera houze, and with their
frail companions drove in barouches
through the Thiergarten. Officers belonging
to the Berlin and other garrisons, who ara
following the same life as the Wolff crowd,
have received q caution through the
colouels of their regiments that the EN-
peror will wipe them out of the army and
use his influence to 0stracise them in So
ciety unless they mend their ways forth
with.
The police continue their efforts to place
check upon the social evil for which
} Berlin Is notorious, being prompted thereto
J by the Emperor, who is fully determined
, to bring an end to this crying evil. They
!, have escorted to the frontiers or placed Ia
prison 40 men who were subsisting upon
the earnings Of vicious women. The move.
ment inaugurated by the Emperor to sup
press morally depraved classes extends tc
every populous centre Of the empire. The
problem is q serious one, and is engaging
the attention of the press and palpit. Re-
: ligious papers advise the close scrutiny
: and repression of immoral dramas, supel
!. vision of singing saloons, prohibition of the
exposure and the sale Of obscene photo
; graphs, pictures, etc.
Albert Otto, hailing from Chicago, but
u now q banker of Stuttgart has brought ar
, action against Herr Leo. editor of com
mercial paper in this city, for publishing
defamatory article regarding him.
y Since the dinner given by United State
o Minister Phelps az which Indian corn mea
aud American pork were introduced, Indian
corn meal has been booming. The Berlin
bakeries are unable to supply the demant
A for various preparations OF Indian corr