Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-05
The Firm of silsby & Co. Make
an Assignment.
A REMITTANCE THAT DID NOT COME
Statement of Assets and Liabilities
Made Today.
MR.. sILsBY OUT OF TOWN

The stockbroking firm Of Silsby & Co.
made an assignment today to ]. A. Burk-
hart and w. R. Mitchell. The liabilities
were said today by the manager to be
$4,000. and the assets about $4,000. 1t is
claimed that the firm will pay dollar for
dollar and resume business by the end of
this week Silsby & Co. have three Offices
In this city. on 18th street between r and
C streets, corner of 7th and streets. and
corner of 7th and Pennsylvania avenue
I'VE are suffering only temporary sus-
pension Of business" said Mr.. George ID.
Hopkins, the general manager of Silsby &
Co., to Star reporter today. 1.-THE assign
ment was caused by the failure to receive
remittance from New York which should
nave been here. We could not do business
without it, and the only way to stop doing
business until things are Strengthened out
was TO make an assignment Mr.. Silsby is
now in New York. We expect he will re-
turn Immediately and we will resume busi-
ness; mes; probably before Saturday. Our liza
blhtles are about $4,000, while our sheets
show assets to the extent Of $4,000 No one
VIII lose dollar, everything will be paid
up promptly and We will go ahead as be-
fore.
Former Trouble.
This same trouble occurred to us about
two years ago, and we came out all right
in a few days. Everything was cleared off.
and the firm started in and did more busi-
ness than before. Instead of hurting our
trade, it seemed to bring more to us. The
necessity for making this assignment today
came very Unexpectedly. I knew nothing
OF 1t until IL O'Clock last night, when 1 re-
celVed instructions from Mr.. Sllsby in New
YORK to take the protective precautions
today which did"
At the 18th street office of Silsby & Co.
this afternoon quotations were being re-
ceived for the benefit of the customers pres
ent, but no business was being transacted
The rooms were well filled with the regular
customers of the firm, but there was no ex-
citement of any kind, and casual visitor
would think nothing unusual had happened.
The same condition existed at the down.
town offices, the telegraph instruments
ticking away merrily ever, and groups
OF customers making themselves comfort
able in the easy chairs watching the quota
tions on the board, but not placing any Or
ders.
Si.sby e. Co. have been operat ng in Wash.
ington for several years, and have done q
and afterward opened branch Offices down
town. Mr.. H c. Ward is the manager of
the Office corner 7th and + streets. and Mr..
W. c. Duke manager of the Pennsylvania
avenue branch. There are also offices at
Baltimore. Philadelphia and Atlantic City.
Deny That 1t Was "a Beclset Shop.
Among the regular brokers in Washing
seems to have occasioned little surprise.
Indeed, on the other hand, many of them
were expecting it. They based their opin-
ion on the result of long experience, which
had taught them that a steadily rising
or "bulr' market continued with any stead
mess proved invariably fatal to business
conducted on the lines of Silsby G. Com
pany. Such firms must of necessity be
bears" when their customers are bulls"
and vice versa. 1t has been generally
supposed that Silsby & Co. conducted what
is known as a bucket shop business, but
They say that while this was formerly
true since December Z last their business
has been legitimate brokerage business
that of executing bona fide orders on the
exchanges.
The Assignment Recorded.
The record of the assignment was placed
on file this afternoon by Geo. w. Silsby-
1t sets forth that he has been engaged in
business here, Baltimore. Nd, Philadel-
phia, Pa, and Atlantic City, n. J., as a
dealer in stocks under the name of Silsby
& Co. The assigneeS named are Joseph
A. Burkart and William r. Mitchell.
To them is assigned the effects of the
local offices of the assignor here, viz: Glib
18th street. 7th and F streets and 7th
street and Pennsylvania avenue, as well as
those in the three Philadelphia offices and
the one in Baltimore and Atlantic City.
The assets, consisting principally of
So. .000 while the liabilities amount to
s95,325. $4,000 of which amount, the as
signor states. are due from him TO persons
unknown to him.