The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-05


toned. Scores OF persons who are inter
ested I'm the affairs OF the Diamond Match
Company visited the offices of that com
pany in Hudson street. Of which George Z.
at the office to-day. having sent down
word that he was sick. He received news
OF the failure of Moore Bros last evening.
Mr.. Johnson's secretary said that because
in the Diamond Match Company il did not
necessarily follow that their failure would
result In discontinuance of the business
OF the concern
"A great many others besides the Moores
own stock in the company. said the sec
retary ''and the company will certainly go
ahead and fill its orders. Beyond the mere
announcement of the failure of Moore
Bros; Mr. Johnson has no information.
Barber no official statement of just how
much the stock of the company is involved
In the failure of Moore Bros. can be made.
The following statement was given out
at the Office of the New York Biscuit Com
pSny in this city: THE failure OF Moore
Bros, will in no manner affect the business
of the New York Biscuit Company. The
fact that Mr. William II. Moore. OF Moore
Bros, is president of this company is no
reason why we should be affected in the
that is about all. The stock OF this COM
pany IS well protected. IL is very likely
that when full informal ton is received from
Chicago IL will be found that the affairs
OF Moore Bros. will be all settled within
a very short time Whether they are or
not, business here will go on just the same
as IL Moore Bros. were perfectly solvent.
Mr.. William II. Moore. president of the
company, is not in New York city to-day,
although 1t Is stated that he is in the
East"
George p. johnson. who is manager of
the New York branch of the Diamond
Match Company. also represents the New
Edwin Gould is president of the Conti-
nental Match Company, t9e opposition con-
Germ to the Diamond Match Company. Mr..
fn-dn
My opinion Is that the Moore failure
will be severe blow to the Diamond
Match Company. as Judge Moore was the
principal hacker of the stock on the Chi
cago market. and although the stock ex-
change prices do not always reflect con-
ditions. yet the very high prices at which
he kept his Diamond Mach stock uQ-
doubtedly gave great prestige TO the com
pany in a business way. 1t Is only an
misled in the value of stock on account
of the high point to which speculation has
carried it,
The following statement is made by a
New York Biscuit Company official: Since
this company has been organized with
Judge Moore at its head it has always
the capital invested. For the past five
quarters UP TO July l last we have failed
to declare dividend. Our failure to de-
clare dividends at the expiration OF those
quarters was because the money was used
in the construction of two new buildings
which represent to-day between s5.000.000
81 anu Il sf'uvVVu- one OF the buiiolngS, az NO
!s Tenth avenue. cost nearly s2ooo.0oo. IL
Is just about finished. The other new
building has been erected in Chicago Both
these buildings sound assets. When
the last quarter came around we declared
dividend at the rate Of per cent. We
do not expect to pass another dividend
unless. Of course. ii is done TO buy assets. "
On good authority 1t is stated that New
York banks hold practically no paper of
Moore Bros. or of the Diamond Match or
Biscuit companies. Moore Bros paper is.
however, largely held in Providence Pos-
ton and New England generally. The firm
was estimated to be worth about 1900. 900
in 1895. Considerable stock, however. it IS
said. Is held on loans by different banks
and institutions in the East Loans on
Diamond Match for the last few months
have been made. outside of Chicago at
least. at par. Some of the Chicago loans
are at par, and an impression prevails that
the stock may go somewhere near that
figure, perhaps a little lower as the bank
loans will have to be liquidated sooner or
later