The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-08-05

circles as the collapse OF the Moores in
their efforts so maintain control of the
Diamond Match stocks and New York
Biscuit. 1t has been the talk of every
man connected with the stock exchange
and the board OF trade. Another strik-
ing feature of the failure. and one which
In measure showed its extent and
breadth, Is the fact that the stock ex-
change for the first time in Its history
adjourned indefinitely at once. Its
doors were opened without doing dol
lars worth OF business. The following
notice was posted on tho door OF the
exchange:
Tho Chicago stock exchange has
been closed subject TO the governing
committee. j. K. wilkins. secretary"
Outside the door and through the
corridors OF the building were excl ted
groups OF brokers and traders in esocks
discussing the situation. Everyone
connected with the exchange was
endeavorlng to convince everybody
else that thore was no cause for alarm
They announced that the officials OF
the exchange were endeavoriug to
form pool to buy up the stock OF the
Moore Bros. to hold 1t until the hurry
WAS over.
At meeting OF the governing COM
mittee, areeolution was adopted calling
for the appointment Of committee OF
four, the chairman Of which shall be
the president OF the stock exchange and
the other three to be appointed by him,
to confer with the bankers of CHICAGO
and the Moore Bros. to arrange upon a
basis OF settlement. This action had
the effect to modify the excitement OF
many OF those interested. Those best
posted in the matter declare that there
In fear n Il
erning committee at q meeting todsy
adopted the following:
Resolved, That in cases Of all stocks
bought and sold regular the trades
shsll be carried out, and that in cases
where stock has been bought regular
and sold in the account the stock shall
not be delivered until the opening OF
the clearing house"
The Chicago News Bureau says:
The banks are taking this Diamond
Match furry very comfortably. Their
only anxiety seems to be to help GUS
toners. The basis of bank loans ON the
Moore securities has been a low ono for
a long while. The New York Biscuit
has not been q popular collateral even.
Diamond Match has been popular. bus
the banks have understood there WAS O
lob of water in 1t.
~ 40 bAOoc AL EOblslOn
to know that the Moore Bros. have lost
between $4,000 600 and IS, 500. 900 on the
Diamond Match deal. Son o say that
1t has wiped out every cent OF their
fortunes.
"Chicago banks and bankers who
hold approximately 81 GOO, 900 worth OF
Diamond Match stock as collateral for
money loaned will not press the borrow
ers for settlement. To do 80 10 I'M
wise and might precipitste panic.
This the bankers are bound to avert at
all hazards.
Another thing the banks hsve de-.
cided to do Is to accept the stock of the
Diamond Match owned by the Moore
Bros. at q cash value of TO-"
BISCUIT COMPANY NOT WORRIED.
New York. August 4.-The following
statement WAS given to representative
OF the Associated Press at the Office of
the New York Biscuit Company In this
city:
THE failure OF the Moore Bros. will
in no manner affect the business Of the
New York Biscuit Company. The fsct
that William Ii. Moore, of Moore Bros,
is presidents OF this company is no
reason why we should be affected in
the least. We have heard of the
failure and that is about sll. The
stock Of this company ia we'll protected.
cit is very likely that when full in
formation is received from Chicago 1t
will be found that the affairs of the
Moore Bros. will be sill settled within q
very short time. Whether they are or
not, business here will go on just the
same as II Moore Bros. were perfectly
solvent. William II. Moore, presidents
OF the company. is not in New York
city today, although it Is stated that he
Is in the East"
George P. Johnson, who is manager
Of the New York branch OF the Dla-
mond Ma,ch Company, is also treasurer
Of the New York Biscuit Company.
ARMOUR is NOT SCARED.
Chicago, August 4.-P. D Armour
said this afternoon that he did not fear
panic as the result OF the Moore
Brothers failure. ~ don't think 1t
will affec. other stocks. he said. THE
men who held the bulk OF the stock are
very wealthy and will come out ali
right. don't fear a panic aud believe
the Moore Bros. will con- q cut all right
in the end"
MAY REDUCE THE VALUE.
Akron, Ohio. August Mem bers of
the Diamond Match Compaoy in this
city Say tina, The failure Of sha Moore
Bros. of Chicago, will not affect the
concern in any way except so reduce the
present market quotation OF Diamond
Match Company. 1t Is principally true
that through the efforts Of the Moores
the Diamond Match stock reached the
recent high figures. Their large hold
fnps will doubtlesa no aold AT aacri