The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-05
SLIGHT FURRY ON
WALL ST. NOW OYER
Three Failures Are Announced
Some of the Stocks Under Sus-
picion Drop 10 to IS Points.

New York May 5.-The suspension of
Ofenbach & Moore was announced at the
opening of business to-day on the stock
exchange. " s~s,@- r. -.el
New York, May 5.-Henry Bros, II
Broadway, members of the stock exchange
announced their suspension to-day. Mr..
Gordon of that firm is director of the
Dominion Securities company.
New York, May 5.-The suspension Of
Lockwood, Hurd & Co.. was announced on
the stock exchange .s -
New York, May 5.-The DEVELOPMENTS
of the latter half Of last week in. Wall
street in colection with the stocks of the
Dominion Securities companies, the Rut-
land Railroad company and the Hacken-
sack Meadows company, resulted to-day
in the announcement in rapid succession
OF the suspension of stock exchange bro
kerage houses. =. T. 70. -
The hrst firm to declare inability to
meet obligations was Offenbach & Moore.
Henry Bros. and Lockwood, Hurd &, CO.
followed rapidly. ... 80, 49, ..
OHenbach & Moore were known princi-
Pal!y as traders in what were known as
Webb Meyer securities and the announce
ment was made Saturday that they had
| experienced some difficulty in securing
loans to enable them to carry stocks for
| the interests which they represented On
Saturday afternoon, however, a statement
was made in behalf of the firm to the
effect that temporary arrangements had
| been made, and that it was hoped funds
might be obtained to-day to pay off obli-
cations and continue business. To-day's
| suspension shows, however, that these
hopes were not realized. The Offices oil
| Offenbach & Moore were not opened fol
business at all to-day. Mr. Gordon OF
Henry Bros, whose suspension followed
that of Offenbach & Moore, was director
of the Dominion Securities company.
Losses of II and Is Points.
The stock market opened weak with The
knowledge that a number of failures were
| imminent. Support was accorded the mar:
I ket and there were some rallies but wher
sales under the rule for suspended house.
were made the market gave way agaiu
The high priced stocks which had beer
| under recent manipulation were the Sc.
verest sufferers. Rutland preferred
dropped II points, Westinghouse Electric
Is; New York, New Haven & Hartford 5
North American SIS, Northwestern ane
| Tennessee Coal 8. The, coalers were af
fected in addition by fears of miners
strike; Delaware Hudson dropped AZ
Reading 8 and others smaller amounts
| Losses of / to 3 were quite genera
throughout the list. Before the first hour
| had elapsed supporting orders were etfec
tive again and there were some substan
tial rallies. g--.....=. H.. - -.
Some Heavy Depreciations.
On the curb, where stock exchange
securities are traded in, there was an ex
cited group of traders trying, to maxi
sales in Webb Meyer stocks. Dominion
Securities, which sold last Friday at 1881
and on Saturday at 10, was offered to-
day at 70, but the best bid was 20. Late
! it was offered at so and the bid declined
to 10. Hackensack Meadows was offeret
at 40 with no bids. On Saturday it SOLE
at 79. -r-l5': -. .'.-.... ss
DR.. w. Seward Webb, president of tn
Rutland Railroad company, arrived her
to-day from Shelburne Farm. VT. /
was said at his Office that statement OF
his behalf would be issued some time dur
ing the day. ~ ~.
Henry Bros: made an announcement
after their suspension to the effect tina
n their embarrassment would be but tenn
porary; that they were solvent and tina
they had suspended for the time being i
order to protect their customers.
. No statement Of liabilities or asset
J accompanied the suspension notices, an
it was said such statements might not b
Il obtainable for several days.
Up to II o'clock there had been no ser