The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-05
FLEW HIGH AWHILE
HISTORY OF THE OPERATIONS OF
THE MOORE BROTHERS

They Began Their Financial Career. Poor
But Honest. a Pronosers of the Fra
grant and Necessary Axle Grease. of the
Frazer Variety. and so Highly Prixed by
the Rural waSoper-Then They Added
IIiuntnants and Breadstufis and Made
Them Pay-Factories Not Necessarily
Anected-Banks are Not Worrying.
New York. Aug. 4.-The announce
ment- exclusively made in dispatches 10
the Associated Press, of the failure IN
Chicago yesterday Of Moore Brothers.
the promoters OF the Diamond Match
company, and the New York Biscuit
/ company, resulted in the prevalence
here today of all sorts Of ruInors con-
| corning the effect upon the business
ct the New York Offices OF the concerns
mentioned Scores of persons who are
interested in the affairs of the Diamond
Match company visited the Office Of that
George P. johnson is manager. Mr..
| johnson was not at the Office today.
| having sent down word that he was
sick. He received news OF the failure
OF Moore Brothers last evening. Mr..
| Johnson's secretary said that because
| Moore Brothers owned . good Geal Of
stock in the Diamond Match company.
| It did not necessarily follow that their
failure would result in discontinuance
| ~ b.a hrr1 ~ -la cn0rArU
"a great many others besides the
| Moores own stock IN the company"
said the secretary. and the company
viii certainly go ahead and I'LL it's or
ders- Beyond the mere announcement
| Of the failure Of the Moore Brothers, Mr..
Johnson has no information.
BUSINESS WILL co ON.
| Until word is received from President
| o. C. Barber no official statement Of
/ just how much the stock OF the COM
pany is involved IN the failure OF Moore
| Brothers can be made.
/ The following statement was given
out 10 a representative Of the AsSooi-
ated Press in this city:
'-Th failure OF Moore Brothers viii in
no manner effect the business of the
New York Biscuit company. The fact
] that Mr. william II. Moore, OF Moore
Brothers, is president Of this company
| is no reason why we should be effected
| in the least We have heard Of the fall
UT. and that is about all. The stock Of
the company Is wei protected It is
very likely that when the full inforTna-
ton IS received from Chicago IL will be
| found that the affairs OF the Moore
Brothers viii be settled within a very
short time. Whether they are or not,
business here viii GO on just the same
as If Moore Brothers were perfectly
solvent Mr. William n. Moore pres
| ident OF the company is not in New
York City today although 1t is stated
| that he Is In the east"
| George p. johnson. who IS mana ger
OF the New York branch OF the Diamond
company, is also treasurer Of the New
| York Biscuit company.
EDWIN GOULDS VIEWS.
Edwin Could is president OF the Con-
tinenta1 Match company, the opposition
concern to the Diamond Match COM
pany. Mr.. Gould said today: My
| opinion is that the Moore failure will
| be a severe blow to the Diamond Match
company, as Judge Moore was the prin-
cipai hacker of the stock on the Chicago
| market, and although the stock prices
| do not always reflect conditions. yet
! the very high price he kept his Diamond
/ Match stock undoubtedly gave great
/ prestige TO the company in a business
way.
! "It is only another case OF where the
| public has been misled IN the value Of
a stock on account OF the high point to
which speculation has carried it,
Mr. Gould expressed sympathy for
Judge Moore IN 1is misfortune and also
/ for the stockholders OF the Diamond
| Match company.
| DIAMOND MATCH DIVIDENDS.
| The following statement regarding
the New York Biscuit company was
made by an official:
Since the company has been organ
/ ;zed with Judge Moore at it's head, IL
! has always earned from to 10 per cent
annually on the capital invested. For
the past five quarters, up 20 July l, last,
We have failed TO declare dividends.
Our failure TO declare dividends at
/ the expira ton OF those quarters was
| because the money was used IN the con-
strlctiol OF two new building which
| represent today between Sc oo0. 90 and
| 81 .Oo0 900. One Of che buildings. az IS
/ Tenth avenue. cost nearly SOC. 600. 1t
IS just about finished The other new
I
/ Both these buildings are sound assets
When the last quarter came around
we declared a dividend at the rate Of s
| per cent We do not expect to pass an
| other dividend unless, OF course. s. IS
| done 10 buy assets
| GOOD FOR PAR on LOANS.
On rood authority II is stated that
/ the New York banks hold practically
/ . DIT
Diamond Match and Biscuit cornoan-
les. Moore Brothers paper is. however.
| largely held in Providence. Boston and
| New England generally. The firm was
estimated TO be worth about 5000 600
\ n 1895.
! Consi 6erabie stock however. Il IS said.
| Is held "A loans By different banks and
! institutions N the east Loans on Dsa-
| moad Match for -he last few morths
have been made outside of Chicago. at
| least, at par Some OF the Chicago
/ loans are az par and an impression pre-
/ vaIis that the stock may 20 somewhere
! mar that figure: perhaps iitIie lower.
! as the hank lo,ns VIII have 70 Be Iiqu4-
D dated sooner or later.
BEGAN WITH AXLE GREASE
Chicago Anz 4--Wflliam and J. II.
/ Moore members OF the finn OF William
and J. Il. Moore and PJrsel made thar
| first move a. promoters N putting on
/ the market the stock Of the Frazer
Axe Grease company. WhEe -1ts oon-
1 pzny has been but little known The
I Moo-es made considerable money cot of
( = The fnsc corporation Of any moment
I il which they were interested vas re
/ Diamond Match company This CON-
s psuy Tss originally a ConnecticT.- cor
I Po-atio1 aEsf = had been formed S1- rhe
/ purpose % controlling TIRE man 1fsctrr-e
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