The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-05
. HOORE FAILURE
80 Two Men. but Does Not
Affect the Companies.
-~naco BANKS ARE PROTECTED


IL
- hrokers outside or the exchange
e - = srad.ng is resumed on the Esoor.
- xxre many inquiries for curb quo
-. &c Match and Biscuit. but nobody
s..xsss1a. a desire 70 trade until matters
- h<sn reduced 70 some definite plan
- ttuisr. Moore was cfo2etea during
q. s~xexoon with his attorney. Dir. Gof-
"a ~<refved All callers during the early
--s,w hut he had little 70 say regard
- sst,,atIon. The officers Of the ba axis
- f,,amoud Match loans were In noe
a. ssss,rfed. They felt confident that
sas..s,..r would come out all right, and
ri. srah<dr outside Of the Moores would
: sriously hurt.
.ra<rs do you find the greatest trouble.
~ rs5auond Match or the New York
1.'.ast y Mr.. Moore was asked.
-. Il worked both ways. due, Of
- II the stringsncy Or money. But
-. an ssy that / do not think there will
80 nanIc. The stock exchange being
sssI there will be time for conser.a-
- srstora 10 preserve values. and We .ili
~.nf,,aIly como out ali right.
'r.-srseut BIZ callers In the American Tx
- budding. wherein are the offices Of
q. Maores. conferred In the elevators.
S.shlnx vas discussed but tire failure,
! i, sverv person who volunteered an ex-
4 100. either 10 the elevator man or TO
Nsfov passenger, was certain the Aoores
sH rot be harmed In the squeeze-that
- would eventually be on top.
"a are q long way from being finan-
- 6ead and viii soon be on top again. :
af II. Moore in his office this noon.
~ having participated In confer
~~ 81 some duration with his attorneys
al a
- ehock, but II Is only temporary"
s-6l1uod the lawyer. while his face wore
sS5a1 not . forced affair. but one that
Sr~1 that his spirits were not droop-
There will DO no statement OF the
Syra1on issued by us I can say that with
4. SOCK exchange closed there will be
= innedlate resort to resources of which
:. heye knowledge and which are access
- ID straigften matters out. The shock
800 from the general stringency In the
-saev market. but We have every hope OF
~ eating things upon their normal
hsiGr
-ru have arranged for money from the
hntsys Mr.. Moore was asked.
sTe ffink We are perfectly safe In say
II hat We will tide over every trouble.
II i but temporary. and We are long
ar from being financially dead.
Thkre vas not q whisper In tho street
V4,srday that any trouble was impending.
~ market for Diamond Match behaved
i manner 10 excite little comment. In
nst thousands OF shares OF the stock
sere handled within fluctuations OF Ia
ssnis. II opened at -. declined to II.
sassncsa TO 22z4 and closed NJ ~ j. Ho-
Asrt Moore and william Coffeen. the conf
ssat.al man OF the Moorea. were absent
fsm their office during the day. but.
sh.le this was known. the reason for their
ahxeute--ln endeavors TO tide over the
sfsssAle--was not suspected. Calls for $780,
sa 81 usarrius on Diamond Match. which
could not be raised. preclpliated the fall
ire That he margins would not be forth
coming xas announced late IN the after
soon. and then came the hasty call Tor
meeting Ct the house OF II. j. Armour last
genlnE At this meeting nearly every
bank n the city was represented. together
via the governing committee OF tne
sock Exchange. Ii was supposed that
III, Armour had had an early inlSling OF
vat was coming. and that much OF the
ssgisnx Of Diamond Match and Biscuit by
raapln q GAYLORD yesterday had been for
NJ Armour's account. but this he denied
TIE meeting, and he said he had no
sspsrion OF trouble until o'clock IN the
sAsrnoon. The whole ground Vas care
Air rane oyer. and II was agreed thaf tho
~ thing 70 arrest a panic was 20 close
a ch,rago Stock EXCHANGE. A resolu-
IA was then and there adopted by the
Earning committee.
ne losers By the collapse OF the Uia-
ssaa Match and New York Biscuit deals
m be the Moores and the spectators
Its are long on the market Tho loss or
IL Nenrc brothers. II II estimated. Is be-
,ssen 81 Loo. 900 and sS.ea1o. They saert-
~ al they made IN the deal while the
eorks were being advanced. ana what
Asy had before. II t. supposed tnat IN
exporting the market the Moores were
sizaeea to take A. per cent. or the entire
tasaal stock of the Diamond Maiea 1ofn-
HsY They had no doubt or their aniiisy
i AIRY the balance through. but the pub
r unloaied upon them TO an extent the
Gasses never dreamed or.
d Armour said this afternoon that
b "a not fear any panic as result or
~ Moore failure. II do not think II Will
assss other Stocks he said. The men
Wa held the bulk OF the stock arc very
xhsshy and viii come out all right
a 30, fear a panic, and believe the doors
eesAess will come out all right IN the sni.
Il 3 the plan for people who advanced
nasey on Diamond Match 10 take care
TIE stock at the prices they advanced
3 AMI all TO form an underwriting syn
data
Carries counseiman. prominent
Nsssr. says: "The deal Is virtually
slssed. The Diamond Match property Is
= right. The company has had nothing
= 10 with the speculation. II earned
A1m last year on 81. 0e1 900 OF capital.
az has sS.sso.e 90 Of quick assets. The
sssalaslon has been by the Noores AMI
tar friends. AIR. Moore SAYS he Il rot
sFaken. He has resources aud plenty OF
sasAge. Rat Moore has Neea away ~ IN
tN ar. He could not sell his stock. and
ss has kept on buying Il az the high
..less Taaf Is AZ an end. TIE people vba
sss loaned on the security VIII hanala
sVn this sirne forward They will
mafAes Il to Investors. Thera viii be no
- hayias ~ fancy prices. Mr.. Moore.
.sa.ak ssll have a generous equity. The
5s.s noek 81 securities VIII Ne under
- ssss'sn ] think IN FOR Diamond Match
- - not. however be the figure That Is
4. The loans were a good deal IN
=. :. -, - hgnre. ! shink that 10 viii pro-
sss heenae who advanced money"
= striking feature o, the failure is
~. s4s1t sAe STOCK exchange. for
-, Tine in us history. al
49, iafefai;ely today. without 20.
- se'lar's worth 81 business. Tha fs,-
go ssss notice was posted. 'eThe Cfiess 30
=. exchange has adjourned eubfer; 70
ns,sa etloa q the governing comutfs. -
ssersssFy." In the corridors
a. -. eseited groups az brokers ard ,raa
en-- s.ss.sstnk The situation. Every enc
'es1 with iha excbaurn svas ss.a,,-
-. . censtnce everyhoaF else hat taera
-. . sasse for alarm They announced
80 So rs ofsscsals % she exe..aa.ss we're
So. ses.ns - form a pool Il buy an the
&c. = Moore Hras. and hold ~ nntn he
g. = over. These hest posted saesate
rsss. = - Tear - general paei,. sfa
-. ss eonmittee adopted THE fel,svs-
-, Resolved. THAT In TIE eases os an
sAsss oeusht ard sold the regular Trades
- e carried cut. and tAat n, s.assz
80 s'eek hsS been bought rsra,arly.
!. &C. sos5 IN account the sgocks shsn 10,
z Aease.~ - '''e e'e'sf-