New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-14
DECKER, HOWELL & co. FAIL
LITTLE SURPRISE AT THE ANNOUNCE
MENT.


MENT.
THE FIRMS TROUBLE rREc1PIrATEp BIZ THE
SHARP RISE IN THE COMMON STOCK OF THE
SUGAR TRUST OK MoSpAr-LABlIL-
TIES ESTIMATED AT s2so'oo
Little surprise was created when the an
nouncement was made from the rostrum OF the
New-York Stock Exchange Immediately aiter
The oneninr Of business at 10 o'clock yesterday
morning Of the failure Of Decker. Howell q Co..
stock brokers at No. "A Broadway. There nao
been rumore the preceding day that the hrm
vo,,d probably have to SO TO the wall Ihese
rumors had been started by notices from Decker
Howell A Co to other firms to close contracts
which Decker. Howell & Co. had with them Inc
contracts were TO be closed "for the account Oh
Decker. Howell & Co." which meant that Deck
or. Howell E. Co would not receive or denver '"e
stocks called for In the contracts, nut 'ha' any
losses on the contracts were TO be charged up "
the firm.
Az one time Decker. Howell & Co. was num-
hered among the leading stock houses |" '''e
Street. The firm failed just prior TO the BIRTHS
manic Of 1880. and although IT soon resume
its prestige was gone. ana is
dwindled until for the last two OF t"iee
I, hod practically no business. Having ios'
-,, oil ,,s customers the firm recently uh-
dertook speculation on its own account ~
"sbort of the market" and was causht III "e
recent rise In values. The sharp rise Vi go
nojn,s in the common stock OF the any
Sugar Refining Company (Susar ir"ap ~
>,onaov nrec,pitated the failure. 1t was stated
that the firm short SooW snareS u '''''
.,no, unon which a loss Of fifteen points or
S120O00 was shown g.,
-. u.-s all sorts Of ridiculous reports In
,.,..,o .hou, the cause extent and effect OF
Oh. failure. While no authoritative statement
-. on,.,ned II was not thought that the
,,s,;,,.,.. would exceed S25O.OO0. 1t was con-
..s Tho, the assets would be found 10 ne
u rh.rs we're no transactions under the
-..,.,, an tho Exchange for the account OF the
-. o.,.eouently the failure was without IN
$3.50. m tho stock market. So far as couio De
..o.r,o,red the loans secured by the hrm from
I.,L. and other lenders Of money were no.
49,. s1oo OoO which Is a small sum Tor "an
Street house.
MAKEUP OF THE FIRM
10 comnosed Of Joseph S. Decker and
1xu,,.no A Williams. Mr.. Decker is the memper
a.. MIN belongs to the Stock Exchange
". io;ned the Exchange on March o. 1910 ne
- ...r IN existence since October ~. IS"-'
a. -. time of its failure. November H. lo""
49, n.-ners were Nj. Decker Mr.. Wiillams
80. Howell and William Evans, lr. MI
T~ops withdrew after this failure ana Mr' n'" ~
81, died october Z. 1892 The nrm sucI 800 ~
~. hus,nes, of the old wall street nous ~,
tne nus Sh.,Son & Co. which was founded IN
Leonard sne'oo"
1870. ooo .a,,ora, IN its char
- When the firm stopped II was uoihs az
acter. w hmsiness and it was borrowing on
nIateyai no less than S1200OOo the faiu .se
,as due to a heavy slump in the securlties ol .'e
Torthern pacific Railroad 1t WAS saiu ma s -,
.n,,oiist prominent in the management oi .l,e
Snr,hern Pacific had a large accoun. III De, M
Howell & Co.'S office. He was IN Lu he Arm
failing to respond to call TOT ma rs ina hIjtv TO
had nothing TO DO out 10 eoi'
meet its obligations. -. a.. low Arm Of
Sullivan Cromwell b OF s his efforts. it was
la the Northern Pacific capitanst We Wa an
ancad 70 come to the aid OF the MIN sd ell ~
Jvar, - 1891 sixty-ore days a1ter tne Iai.
JanuaIs nscIsr was reins.ated to membership
in the stock Exchange ana tne II. II, w. Soiia r
business. having paid nU Te't fses as allowed
with interest ~. nj something like $2500Oo. In
aaa;,ton for his excellent work, the nrnl pr
sented TO Mr.. Cromwell silver dinner sci
worth $4,000.
TO AIANsoN FISHER. JR
When the Arm stopped yesterday II made a"
Assignment to Alanson Fisher )r' without ~
erepces Mr. flSner WAS Cdshiei va
Gov many wears About year ago the nrm cut
down expenses by giving up part or us spa
c,ous office and dispensing with most Oh hs
CLERKS Mr.. Fisher left the Arm at TINS time'
hu, his departure was because Of poor heaith
u. might have retained his place Mr. F1sher
.h u vou,d he a week more before he couid
make any statement as to liabilities ana asse's
There was a story that the failure was caused
nv the neglect or inability Of John G. Emo 70
nro,,ide margin for stocks which Decker How
Ell & Co were carrying for him. MI Deck Ne
.aid Mr. Emo had not speculative contrac' ,o'
q dollar with his firm Mr.. Emo simply hau
desk in the firms office. but was not concei,eu
in or involved by the failure In any way. MI
T,ecker said some Of the firms customers nau
MOI kent up their margins. but the failure was
in reality due 10 the firms own opera,ioiie ~, "a
stocks The firm had to he exact eHhausteu
its resources Not only had the once eAPens
been heavy but also the Individual expenses
OF the members of the Arm. The nrni mao n S
branches in New-York or IN othei oi"e' ~
had no private wires ,,,,, 900 ,,os-
Roth Mr. Decker and Mr.. Williams are pass
the ago 81 fifty Mr.. Decker lives at the Gar
den CITY Hotel Garden City. Long Island, ana
Ur Williams at Tarrytown. 1t is consldeIeu
improba bic that they VIII resume business w !.
r,no was at their office yesterday II was re-
nnrted that among the customers OF Decker
Howell & Co we're Thomas F. cakes e., pTesI-
dent Of the Northern Pacific Railroad ano ). =;
Oelemar owner OF the famous Deiemar eoiu
mines in Idaho.
rI1-RRY IN SUGAR STOCK
IT REACHES 1917. THE HIGHEST PRICE ON REC
oRp-EFFECT OF JUDGE CHESTER
DECISION
.easn great excitement in Sugar