Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1903-08-05
TWO Big FIRMS FAIL.
CRASH IN WALL STREET CAUSES
SUSPENSIONS.
Talbot J. Taylor s. Co. and w. L. stow
s. Co., Prominent Brokers, Go Down
James h. keene Connected with
Former H-ouse-Loses sI,5oo,ooo.

The decline in the stock market, which
has been going on almost without inter
ruption for the last six months. culmi.
mated Friday in the failure of T. ]. Tag
lor & Co. and w. l.. Stow & Co., two
of the lqrgest Stock Exchange houses in
New York City. The failure of Talbot
j. Taylor & Co, through which firm
James r, Keene does considerable busi-
ness, was due to operations on the long
side of Southern Pacific, Atchison, Bal
timore and Ohio, Reading, Brooklyn Rap
i'd Transit and Pennsylvania. Talbot j.
Taylor. is the son-in-law of james K.
Keene and Foxhall keene, a special part
ner, is a son of the big operator.
1t is learned that the Taylor liabili-
ties are likely to reach $6,000.00 o 1t is
understood that only six menths ago MIR.
Keene gave Taylor a sun approximating
81 100000 to tide the firm over dificui-
ties 1t was then said to be in. and since
then other generous contributions have
been made by him. Estimates of Stow
s. Co.'S Liabilities range from S1.250.o00
to $2,50o.O00.
Keene's Loss Is ST., 100000.
James r. Keene puts his personal loss
by the failure Of Talbot ]. Taylor & Ca.
at $1,000, 900. Mr.. keene said;
II am the largest loser by this fail
ure so far as the creditors are concerned.
| reckon | lose about $l,500,000. / have
seen solie statements in the papers this
afternoon intimating that | am heavily
involved. but that is not so.
"Exceps for the amount Of money /
have stated, my personal fortune is not
impaired. l was not connected with the
firm in any way, shape or form. | had
my office there, it is true, hut l was not
interested ii the firm outside of the fact
that it did my business. and that the
head of ii was my son-in-law. / want
to make It clear that the fortune of my
self and Of my family Is in no way af-
fected. A +
II am not embarrassed. / am only fan
noyed chat this should haze happened. |
am annoyed, also. becnHsef think they
have conducted their business in an inn
proyiilent way. They allowed certain
people TO stick them, AMI they are now
suffering for it. | would have seen them
through it, because Nr. Taylor is my
s~on-in-law, and | would AVE liked 10 see
the firm weather the storm. but the on
dition of the market was so gloomy and
discouraging that, in justice to myself, |
could not see my say clear 10 give them
any further help.
81 never saw such a hopeless market
as we have. When you can get such
stocks as United States Steel preferred
for 6S, is there any wonder that re-
fuse to help my son-in-law out any
longer
The severest shake-down since the
panic Of May . was witnessed in stocks
during the day. From the time the mar
ket opened very disquieting rumors were
in circulation and the continued outpour-
ing Of large blocks of stocks. with the
selling Of an apparently forced eharae-
ter. extending to the best stocks on the
list, was plainly indicative of some pend
ing disaster.
1t was evident that the decline had got
to a point where some big brokers were
In trouble. Efforts TO find out where the
trouble was were futile, as the am Of
some of the best houses in the street We're
mentioned. " 10 noon nearly 100000
shares were thrown on the market.