The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-02-13
h arnold SUSPENSION
,eIs Made Of Having the
Ability TO Pay Out
,,,stH HAS CLOSED DOORS
-, II Had About $4,000 Be-
ET lN'' twenty five People-the
s'' Nancy Was Not Returned

r,sruary l2.-As during the
i''s, ,,-nnrs thronss, largely com
= y, M poor classes, surrounded ,, ths
vi Of wv ne various Cooperative Turf
|ntcss y .,nnauy's Offices this morning.
sT0ilne Arnold & Co., while no
ss = nelug paid out, it was asserted
~ Nsy A Gil that the company is
Y, solvent. I'VE will pay on every
prey ~ ave. be said. In fact, the
~ y. A,bilties will not exceed So
sl'n, 10 assets are twice That sum.
n 'nu ,Ime. II these people had not
would have realized ON $780,
IN Of property before this time and
IA of subscribers
r. RYAN Of j. Il. Ryan d Co. re-
"a 10 St. Louis from cinalni"'t this
w. q don't know what our cash
Ill., ~ /, Just yet" said Mr., iSan' but
lA@ IS not sufficient to meet the
w" our subscribers. Investors viii
tIinu' AZ, u whatever is left.
" eSss,y syndicate company an
ie .ndSV that they had suspended all
- IN A few days and would neither
N. AM money, return any deposit or
\ ,py dividends .s h.,o.o a.. ~,
AZ "a the international Investment com
ksTs Offices today, Ofhcers guarded me
y e. s and permitted only few to enter
.,r,s THE international company has
Il " Investors Curing the two dnys OF
,so and snpounced that the payments
IA NJ continued today. The United
. M investment company clos1d It's
-. today. A Sign posted on the door
gtsee closed until further notice. Due
I IN ii' sfIS continued payment Of dividends
1 IN Wednesday night, but no deposits
~ bseu received since the run began.
v III end Of the third days run on the
lucrative turf companies by investors
9ssdlng the return of their deposits, the
~. stand; 2. j. Arnold & Co. all pay
M saspended; John i, Ryan & CO., all
.r5sns suspended, International Invest
N company. all payments suspended;
tl3sr Syndicate Investment company, all
,snsuts suspended; United Turf Invest
M company. office closed. Grand jury
&tsigating methods,
'fnEls Of men and women eager to re-
IN Investments surged into the Offices of
n various Investment companies today
IN an we're doomed to disappointment, cX-
M he International Investment company
Iis,ors. About . o'clock this company
8spsbded payments and demanded the
s5ahttd thirty days notice of with
tnyL The United Turf Investment COM
I'M did not open Its offices today and Il
i d Oh the door announced that payments
4 d been suspended indefinitely.
lvystors IN the firm of John j. Ryan 4
n visited With hope the return to the
ty II the manager, John j. Ryan. He
a,iv.d this morning and the hope was dis
sntM by his announcement that the as
" f hs firm were not sufficient to meet
II demands for Withdrawals. The In
fgsy In the firm Of II. j. Arnold & Co.
A,agally say that they have given up all
\ ~ q recovering anything. This was the
~ concern TO suspend business.
h late this afternoon the February grand
tr dropped all other business In order ia
he up the lnvestlga tion of the turf In
'SRent companies Ryan was summoned
n ,ppear before that body aud n similar
GNpem was issued for Arnold. Eho Is III
IA Springs.
y'v Orleans, February PA lot Of
twes the property Of Il. J. Arnold & Co,
Hs seized by the civil sheriff at the race
facl The officer was acting under a writ
y attachment Issued Yesterday afternoon
y lodge John 81 Paul Of the civil district
aH IN the application If j t. Morrison
4 % claims that the 1rm Is Indebted 10 him
ne sun Of $500
y Soon ms the writ was issued nm the
FIVE Of the petition for an attachment
e,,hgs went to the track and seized al
tne property they could dnd that he
FRs,g 70 Arnold & Go. This consists main
A horses, The horses. II Is alleged, he
The firm, but they were here II
z care q a trainer.
4 " petition ayers that the firm of r
4 Arnold Co., doing business In St Louis
Z members NJ which firm nre unknown tc
IL plaintlh. Is indebted 10 the petitioner
4 lne sum Of $500 The petition further
IT9ss maj the defendants, although domi
\ INV nv outside OF the state. have property
.as me jurisdiction Of the court. consist
\ ~, 4" nefses BoN stabbed at the race track
4 N,ANrFed that the defendant company
4 disposed OF the property or intends II
Autonio' Texas, February 10. TIL
's'n 81 the E. J Arnold Co-Operativ,
.uus stables in this city suspended pay
~ On deposits here today. The locA
psentsilTe, Manager r.. Il. Ware
~l mat the companvs liabilities OF
sa,As 10 this city were about $4,000. dis
,9,ea among about twenty-five investors
brnls,u put In from s2j to $1,000 each.
br MI s,1 u these creditors made a deman,
IN M, money today and were told tha
ts,k ~ hsd been withdrawn from tn
sah AZ svold run on the deposits. IL
Sa Ia Soon as the concern could rcaiiz
bia IN gtS n1 all its liabilities would b