The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-05-11
EDITION.
A HEAVY FAILUREs
Collapse Of an Old and Well
Known Banking Firm.
ennsed by strinsency In tho Money
Market und Depreciation of Stocks.

The air has been filed with rumors
Tor several days concerning the eta.
bility of several business firms In this
city, among them being that OF r. Il.
Robinson Il Co.. the well-known bank,
ers, at Fourth and Market streets. =. 8 I.
This morning 1t was announced that
the firm had boon driven to the wan.
and from q number of causes had
been obliged to suspend payment. Az
soon as the news was made public a
reporter called at the banking house
and found that unfortunately the
news was but too truo.
He then visited the house Of Mr.. II.
u Robinson. and found that the
shock had been SO great that he was
Frustrated and unable to see any one.
Lie then saw Mr.. j. Norris Robiueon.
the son of II. G. Robinson. and book.
keeper for the firm. That gentleman
stated that the liabilities were about
$3.50. 900, but he could not state posi.
lively the amount Of the assets. 10
is. however feared that they will fall
below the liabilities. He said how.
ever. that there were quite a large
amount OF trust funds in their hands
which have been provided for.
He stated that the failure was caused
by the unexpected stringency In the
money market, combined with tho do.
probation In stocks OF which they
carry a large amount for their Gus.
toners. Mr.. Robinson could not say
whether any other firms would DO
affected or not, and It may be day or
81 before the fact OF this is ascertaIned.
1t Is not thought the failure will Of.
feet the banks, but at the present
It is difficult to tell what the outcome
will be. 1t Is we'll known that thsre
Is risis In the money market, and
this combined with the break In st ocks
has shaken many business house
throughout the entire country.
Mr.. Ro binson said: "Tho firm have
not dollar left, and scarcely know
what tosay. except that the failure IL
not through any fault OF theirs, ex-
cept In helping Others to try and stem
the storm. Father has always been
too good hearted and has never re.
fused to assist customer In time Of
need"
1.-THE firm Intends to pay to the last
d dollar they possess. and II some Of
our customers would have dons tie
same toward US, we would not not 10
In the condition we are to-day.
Willie Mr.. Robinson was speaking,
he was very much affected, and con.
Il naing he said:
"What hurt me tho most this morn.
ing, was to ha We the people come In
and ask for their money. whom we did
not have 1t for them. and were obliged
to send them away empty handed"
The firm Is one of the oldest In this
city. and has always been noted for
thor honesty aud generosity toward
1hose In need.
Mr. Robinson has the sympathy Of
the entire community, and every ono
will BIO ready to extend TO him a help.
ing hand In the re organization OF his
business. II tho various makers OF
notes on which he Is endorser could
SEQ their way clear 10 pay tho same, he
would be relieved In great measure
OF the liability which placed him In
this unfortunate position.
The parties who haye given him duo
bills should pay the same at once. L.
was not through any speculation In
stocks that the failure occurred, but
through operations of others for
whom he endorsed.