The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-14
DECKER, HOWELL&CO.F FAIL
THIS TIME THE RISE IN SUGAR WlS
TOO MUCH FOL THEM.

Liabilities smni1-John G. Emo n Cuatouer-
when the Firm Went Down In the Rnrinr
Panic, Loaded with Willard stocks, ut Owed
$4,000. o and Resumed In 90 Days.
Decker, Howell & Co. Of Al Broadway, one of
the Oldest OF Stock Exchange firms, suspended
yesterday. The failure was not wholly unex-
pected and II caused no stir. The firm had been
one of the biggest houses In tho business, but
since its failure in the Barring panic In 1890 10
has not been a large factor in Wall street. Tho
failure of 1890 involved moro than $12, DOC, 900.
1t was the general opinion yesterday that the
present liabilities amount to not moro than
100000 or S25, 600. These liabilities arc under
stood to he pretty well distributed.
Tho immediate cause OF tho failure was the
sharp rise In Sugar certificates. The firm had
been operating on the bear aide, and IL is under
stood was short of Leather and some othoz
stocks besides Sugar. The s~ix-point advance In
Sugar on Monday tho firm was unable to sur
vivc. and IN assignment was made to Alanson
Fisher, Jr., the firms cashier. The assignment
was announced on the Stock Exchange yester-
day morning at 1920 o'clock. 1t was said that
some of the heavy buying Of Sugar late on Mon
day was due to the firms covering of shorts.
The assignee's counsel are Sullivan & Crom-
well OF 10 Wall street, who were counsel to the
assignee in the failure of 1890 also. William Nell
son Cromwell of that firm being the assignee ON
thhb OCChblOn.
Mr.. Decker said yesterday that outside Of the
immediate causes already related, the dulness
in business affairs and high expenses had con-
tributed TO the failure. The firm maintained
spacious offices on the ground floor at 81 Broad
way. big enough for a big banking house. In
contradiction of q current report Mr.. Decker
said that John c. Emo had no speculative account
with the firm, and had had none, although he
had done business with them. II was known In
Wall street that John g. Emo had been a Gus
toner of the firm, and no was the only customer
that OF late the firm had been known to have.
He had desk room at Al Broadway and is an old
friend OF Mr.. Decker.
The present firm OF Decker, Howell & Co. is
made up of Joseph $. Decker and William A.
half:,century mark. Mr.. Decker Joined tho Stock
Exchange on March q, 1873. His other part
ners. besides Mr.. Williams, In 1890, we're
George X. Howell, who has since died. and viii
Liam Evans. Jr., Prior to the 1890 failure tho
Henry Willard, and dealt very largely in the
Willard stocks. The close of business on the day
1t failed, Nov. IL, 1880, marked a drop of IL per
cent. in Northern Pacific and about 8 per cent,
IN North American: On the following day the
North American Company went down, turning
over Its affairs to its creditors.
The Decker firm resumed business sixty days
after the failure of 1880, the assignee having In
that time brought the affairs to a basis that per-
mitted him to pay dollar for dollar. He issued q
claims against the firm, with interest, and at the
same time felicitating himself as well as the
creditors on the success and despatch with
which the assigneeship has bcen conducted.
The court allowed him S25. 900 for his work, and
the members of the firm gave him a magnificent
was worth $4,000, but that has been authenti-
cally denied.