, 1891-12-19
have been realised only too soon in one


have been realised only too soon in one
case.
Early on Saturday afternoon the news few
like lightningi through the city that the
house of IFriedIander and Sominerfeld had
suspended payment, and hat the disasters
was accompanied by a tragedy.
One of the members Of the firm, Herr Fried
lander has been absent at Mentone for some
months on account of his health the other,
Herr Sigmund Sommerfeld, and his brother
Herr Felix Sommerfeld, who had a high APP
pointment in the bank, withdrew into the
private room of their house of business shortly
. after one o'clock on Saturday, AMI each imm8.
diately afterwards cut the veins in his wrist,
and fred a bullet from a revolver into his
head.
VIII en- the door, which had been locked, was
burst open, Felix Sommerfeld was found un-
conscious and lying in a pool of blood on the
sofa, whilst his elder brother still retained his
senses as he sat wounded and bleeding-but
not SO profusely-in his arm chair. Both
men were removed to the Royal Hospital
where the former expired in the evening.
- So far itisnot known whether any persons on
the Stock Exchange are deeply involve. in
this unhappy business, but l. gather that un-
less anything unexpected should be disclosedit
Ao0 @SAAOAN bAGS W Al AOO Wiz II I1C O1OhON
market, though an immense number of private
individuals of high and low rank doubtless
will find themselves ruined. The bank was
interested heavily in a number of speculative
and commercial enterprises, and as a further
drain on the assets of the firm the two broth,
ers Sommerfeld lived in princely luxury.
During the last few days, since the fall of
Hirschfeld and Wolff, a number of customers
had applied to withdraw their deposits, and
it is said that it was not possible to comply
with the requests. The Sommerfelds were
menoced with an interference on the part Of
the officers of justice, and t it is affirmed that the
immediate cause of the decision to commit
suicide was a sudden announcement that an
order had been issued for their arrest.
From the details so far known it is clear
that neither had contemplated the act of self
destruction up to within half-an-honr of the
act. Herr Sigmund Sommerf3ld, who has been
for years a'hard worker, and a very active man
of business, Was about to be divorced from his
wife his brother, who was married happily to
a daughter of Herr Pinkus. a financial mag
nate of this city, leaves a widow and child to
mourn his loss.
THE eff )rts made to obtain the assistance of
relatives to ward off the disaster were unsuc-
cessful. The house is only about twenty
years old, having been founded shortly after
&. the Franco-German war, and was not looked
upon as one of much Importance, although the
members of the firm were Court bankers to
the Duke of Sake oburg- Gotha, and were much
patronised bya certain portion of the aristo-
crazy.
Amongst the commercial and industrial
enterprises which will also suffer are the Der.
lin and Guben Hat Factory, the company form
ed for developing the Baltic watering place
of Binz, in the buildings of which the firm had
sunk over G30.U0 the Posen Spirit Factory,
the Thuringian Needle Factory, and the Com
pany that owns the Bersen Courier, a Berlin
financial organ.
AS all the money of the firm, including the
deposits of customers was tied up in the above
concerns, and asst was impossible to raise funds
to tide over the unexpected demands referred
to, the Sommerfelds preferred suicide to ex-
posure.
: The incident is causing no slight sensation,
but except that prices are low on the Bourbe
and the public in general is frightened, there
'is no apparent danger Of the panic. 1t is
only-as a distinguished inancier assured me
Ian extremely critical time for those estab-
lishnents the financial status of which is-
and always has been-rotten.