Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-04
TIE MOORE FAILURE
Strenuous Efforts 10 PFlV.ll a Gen.
tFal PaBIC.
80 EXCITEMENT IN the BANKS,
Edwin Gould rNpr ss's sympathy with
the Atuckhrld rs-iho Public
Was Nisled,

has caused such illrfy In commercial
circles ~ the collapse Of tho Moore
Bros. In their Efforts 10 maiutain the
control Of tho Diamond Match oom.
pany. aud tho New York Biscuit com.
pAny. The striking feature Of the
failure Il tho fact that tue stock tx-
change Tor tho fr.t time in its history
adjourned initn 1Iiuly today, wiih0u,
doing dollars worth OF hu.iutBs. Tuc
following notice was posted; "Ihu
Chicago stock exchange has adjourned
~ blcct 10 action Of the governing
committee. Wilkinr, secretary"
In tho corridors were excited group1
Of brokers and tfadefs, drcuesing thu
situation. Everyons connected with
the Exchange was ondcav0rlug 10 con.
vince everybody else that thufo wnp no
cause Tor alarm. They announced that
the officials n tho exchange was en-.
deav0ring 90 form a pool 90 buy up tho
stock Of Moore BtIthurs, 20 hllu 1.
until tho furry was ovof AZ tho
meeting VI tho gOvcrnine committee
n resolution was adopted calling Tor the
appointment by the president OF tue
committee OF four % confer with
bankers Of Chicago and the Moore
brothers TO arrange upon basis OF
settlement. This committee will meet
At y. IN. today. This action hud tue
effect to modify the excl emont. Thosu
beet posted declare there 10 ~ iont Of u
general panic.
The governing committee alec adopt
cd the foil1wingi
"ltuA0lvod, TAit Ia caauJ OF all stocks
bought ald sold regular trAles shsil
rc carried uui, ani tlai la cases where
stock hns been bought ~ luiaf ami sold
va account, stock shall MT DO delivered
until the opening VI the clearing
unuse.D
II Ia estimated that Moore brothers
loot between 50 ono, 900 nud ij,UU1, 900
Ia the Diamond match uUaI SImr
say u has wiped cut every cUuG Of shelf
fortunes.
Tue Chicugo News bureau says hl
tho bauhs uto iaking tue Diamond
Match Il Irfy very comfortably Their
only anxiety seems 10 DO 10 help tbs
customers.
Toe basis Of the bank loans on Moore
securities has boeu low TOT long time.
Diamond Maioh has been popular but
the b INKS undtrrtO0I lhat there was u
lot OF water la 10.
The anxiety Of the bauts 10 not 20
great regarding tho Diamond Match
loans, however, a. regarding New
YORK Biscuit, whlgA wa marked up
from under 30 10 over par. rnero IL
hardly rich man Ia the town that h
MT somewhat interested, usually a.
money lenders. Boston anu Baltimore
are largely Interested.
ALL SORTS OF RUMORs.
NEW York, Aug. I.-rne an.
n0unCumeut Vi the allure at Chicago
VI Moore Btstiora, she Dt1m, ters 0f
thu Diamond Match company ami tho
New YORK Biscuit. company resulted
In the prevalence h1tu today Of all
sorts Of funiurs concerning the effect
upon the business At the New lOTa
gfiice Of the concern m sntiJned. a
aoIru OF persons Interested In the a.
fairs OF tbs Diamond Match company
vioitul tho offices OF that company IL
HUDSON street, VI whiuh George JUnn.
son " The mAnagor. Johnson was not
NJ the III 80 today, having cent w0TJ
down tuht he was sick, J1hnt0L's
secretary Hsid thst beususo the Moore
Brothers owned n good deal OF stock IN
the Diamond Match company il did
act necessarily follow that the failure
would result in n uisuOntinuance Of
the business OF the concern. "Many
others besides M0orss own stock, nlsaid
the FsCretafy, "And the company Will
certainly 20 ahead, anu nj Its orders.
Beyond the mere announcement "
tho failure OF the Moore BroIhets,
johnson has no Information,
Until word was received from Prssi.
dent .. &. Barber, no official state.
ment OF Just how much the stock com.
pauy Is involved IN thu failure OF the
Moore Brothers eau be- made.
Tue following statement was given
out TO tbs Associated Press Ut the Office
Mt New York, by the Biscuit company
OF this CITY! "The failure OF tue Moore
Brothers will Ia no manner affect the
business Of the New YORK Biscuit
company. The fact that William II 4,
Moore Of the Moore Brothers IL pTsti.
dent OF the company N no reason why
We shoulu be affected In the least. We
have heard OF tho failure anu that IL
about all. Ths Biscuit company 10
| well protected. II Is very likely whom
full Information IL received from chi.
cagO that II will DO found that the nj.
fairs VI the Moore Br1Iners viii be- ali
settled within "a very short time.
Wheiher they arc OF not, tue business
here viii 20 on lust tho same us II the
Moore Bgolhers were perfectly Hol.
vent"
William II. Moore, president OF tho
company n not IA New York CITY,
although II Ia stated that no Ia In the
East. George Il. Johnson, manager
u the New YotR brbnch Of tue Dia.
mond Match company, 10 also treas.
user OF the New YORK Biscuit oem.
lany.
EDWIN 0OULD's EXPLANATION.
Edwin Gould, tho president OF the
Continental Match company, an oppo-
sitlou TO Tue damon match COMPANY,
SAID to-day; "My opinion 10 that the
Moore failure will DO "A severe blow to
tue Diamond Matun, ~ Moore was the
| principal baokor OF the stock on the
| Chicago market, anu although stock
| prices do not always reflect the oOndi.
lions, yet tho very high price at which
he kept Diamond Match stock uulOubt.
edly gave great prestige TO tho com.
| pauy In business way. IL IL only au.
other case where the public have been
mialel la tbs value 0, stock 0u account
OF tue nigh point TO whloh speculation
has carried IT,"
Gould expressed sympathy for Judge
Moore and tue stockholders.
TuE BISCUIT COMPANY.
An official OF the New York Biscuit
company said today; "Since this COM