The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-11-08
SENSATION
In GERMANY.
Two Berlin Bankers Commit
Suicide.
Reckless Business Management - Heavy
Losses Of The NObiIity-Tle EmperOT'S
Social Reform Measures.
Copyrighted 1891. by the New York Associated
Press

Copyrighted 1891, by the New York Associated
Press
BERLIN, Nov. IA sensation was caused
IN financial and social circles to-day by the
collapse of the banking Institution of Fried
lander & Sommerfeld. The usual scenes OF
excitement among the creditors occurred
sround the offices, and the effect may be
Imagined when it was announced that the
leading partner In the concern, together
Sith his son, had committed suicide. The
failure is associated with the recent sus-
pension OF Hirschfeld & Wolff. The fact
Shat FTiedlandeT & Sommerfeld were finan-
ciAlly embarrassed and would find difficulty
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
10 local financial troubles. These sales
caused general and heavy fall in prices.
but the business Of the day was over before
the tragic incidents closing the careers of
the bankers became generally known. As
the facts in the case developed it appeared
that father and son met in their Office in the
bank early this morning and discussed the
crisis in their affairs. After talking over
the matter they concluded that, as they were
bopelessly embarrassed, they would die.
RESOLVED TO DIE.
1t Is understood this resolution to take
their own lives was in sreat measure due
10 the fact that their arrest was impending,
as Felix S0mmerfeli, the son, had become
involved in Speculations 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 dis
gTa e, both father and son shot themselves
in the head, using revolYers. When the
clerks in the Office. alarmed at the reports
of the pistols, ran to the private office, they
found that father and son we're still alive.
They were conveyed TO the hospital in a
dying condition. The firm had been in ex-
istence for long time, aud held good po-
sitiOn in the financial world. Since the
Hirschfed & Wolf failure many of the
principal clients OF Freidlander & Sommer-
field, becoming alarmed regarding the sta
bility of private banking houses, made
many Withdrawals of their deposits.
Herr S3mmerfeld tried to meet the diff
Guilty by attempting TO realize on their
up in industrial and other stocks which
were not readily marketable and eventually
II WAS found impossible for the firm to meet
its engagements. The best informed men,
bers Of the BouTse say they do not expect
the failure Will pTeciptate period OF gen.
eral disaster, though il is certain that it will
greatly increase the alarm among the in
vesting classes. This evening large crowd
assembled in front of the bank and threat
ened TO carry the building by storm TO re-
cover their securities. The police had great
difficulty In restraining the mob from carry
Ing their threats into execution. Fried
lander, the senior and surviving partner, is
staying at Mentone. A telegram has been
sent summOning him to return TO Berlin.
A RECKLESS BANKERS DOWNFALL.
Inquiry into tie affairs of Hirschfeld &
Wolff realizes the worst aDtieipations. The
firm has been in business sixty-four years
and had as its chief HrT Wolff, who occu-
pied several other positions of trust. BE
was prominent society man, who lived
life of ostentatious wealth, his household
expenses running up to 100000 MARKS year.
He did little in the speculative line until re-
cent years, when his private extraVagances
and losses at the gaming table led to en-
barrassment. He tried 10 recoup his losses
through dealing on the Paris AID Berlin
bourses. A. matter of fact, the firm has
been insolv-nt since 1873. For q number or
years Wolf has been living by selling and
paw LIus klt etCuI lies Cl Ills OEpUSllOIS,
working In connection with Banker Joseph
Leipslger 1t IS asserted that Wolff, with
all the facts being known to Leipsiger,
fOated spurious drafts through Lepsiger
and pawned the securities of depositors
amounting IN value to 100000 mar ks
Lripsiger finally went To the wall, and his
failure hastened the downfall Of Hirschfeld
& Wolf.
LOSSES OF ROYALTY.
Among the numerous arstocratic credit
OTIS of the firm are Prince Henry of Prussia,
who loses 800 600 marks: Prince Gunther of
vigil OlSteln, brother of the En-
press of Germany, 100000 marks, and Count
Luttichow, n prominent leader In German
society, 100000 marks. Other members of
the aristOcTacy are severely hit. Wolff is
confined in the Mgabit Prison. Be says he
Is unable to make any estimate Of his liabil-
ities. he has number Of heavy gambling
debts. Wolff was Pres dent Of the Resource
Club, an organization composed Of wealthy
parvenUes and hnanciers, who are addicted
TO reckless playing. 1t is recorded thar upon
the eve OF the failure of the frm Wolff re-
fused to pick up a couple of thousand marks
In bills which he had accidentally dropped
at the gambling table. He LETT the money
on the floor for the walters.
PURIFYING THE SOCIAL CONDITIONS.
The Emperor designs to cleanse high as
well as low society, and his good intentions
have received an Impetus from these dis
closures. The Wolf clique faunted nOtori-
GUS women In sumptuous rsiment in the
best boxes in the Opera House and with
their frail companions drove in baTouches
through the Thiergarten. The officers be-
longing to the Berlin and other garrisons.
who are following the same life as the
Molf crowd. have received a caution
through the COlODels Of their regiments that
the Emperor will wipe them out of the army
and use Ills influence to OstFaciZe them in
society unless they mend their ways forth
with. Tho police continue their efforts to
place a check upon the social evil, for which
Berlin Is notorious, being pronpIei thereto
by the Emperor, who is fully determined to
bring an end 10 this crying evil. They have
escorted TO the frontiers or placed in prison
40 men who were subssting upon the earn
fngs OF vicious women. The move
ment inaugurdted by tile Emperor to
suppress the morally depraved classes
extends 70 every populous center of the
empire. The problem is a serious one and is
engaging the attention of the press AMI the
pulpit The religious papers advise close
scrutiny, and the repression of immoral
dramas, the supervision of singing saloons,
the prohibition OF the exposure and sale OF
obscene photographs, pictures, etc.
Albert Olto. hailing from Chicago. but
now banker Of Stuttgart, has brought an
action against Herr Leo, editor of COM
merclal paper IN this CITY. for publishing a
defamatory article regarding him,
Since the dinner given by United States
Minister Phelps, at which Indian corn
meal and American pork we're introduced to
q select circle, Iudian corn meal has been
booming Berlin bakeries are unable to
supply the demand for the various prepara-
tlons OF Indian corn meal.