New-York tribune., 1903-06-03
TORONTO FIRM FAILS.
1mes 8 Co. Suspend-Fau in Cana
dim Stocks-Pamc at Montreal.

-,,-,n,o June IA F. Annes Co. bankers and
Aroters closed their doors at noon to-day III hac
been a bad morning in the stock market IA suL.
oessiou 60 many. The news spread quickly 'hrousn
fh. city. and hundreds gathered around the nrnl >
pfnos On window posted the following
o~sns 70 IN. continuous severe decline IN the ne
s.orifes market have found @ It ,n1S@ence Of
suspeno psyTFen, me- sg feG Says Until We prepare
statement of our affairs and decide Mnat Is CO
&c be done
Ro1;ghly estimated. the liabilities Oh Nle M, ~, -,
f.,osstors In the savings bank prahch WIN
,h-. es1o ean No estimate be given OF @ tne
,Iab5iities 20 customers whose stocks "eI We s.-n,
carried On Il argsn. hut these haolIlues Mi' ~ - -
TO hundreds OF thousands OF oolaIs' ,,t,it+ies
siiG q axoe@ted will reach S00o0cV9 5ld tps
under this head. however; are tbsTe is small pos
fI51v - loss to the lenders unless aA s'ooN
relPes & sI managers Of the city are oRtims5TSe
one banker said: We anS aTe any a money advanced
10 A E Anes & Co.. was secured
Montreal. June 7-The worst panic IN 1ne
history OF the Montreal stock market was So
ty the announcement to-day Of the IaaiV CO. Of
TtS oTato poes declining the lowest Level OF me
year.
Ro.ton Jun. 2-The failure Of the TORONTO TORONTO
brokerage house OF A Z. Arnes q Co. eNci'eo e NJ NJ
.nte-est in this city. IN view o. the laoL -,
-, has had large dealings with Boston pIoAeiS
~ Ar,es head Of the firm, is son-lh-la" %
s-.to- George A Cox of Toronto, who Is one one @ O.
the IeaSng hranciers IN C4l1a,a@1 45a1- Of Commerce
PIa5. sfa insurance Company ana otheI .t ~
errs besides being Hice-preslGehl % ~ In COM
Coal Company ano D2InlIllph ~ coal and iron
nsnv Of late the ContTol o. " 1Earcs1I, hald in
.o,1,,arsS j supposed TO have been iaIselS @ g
sToId1to Arcording Boston brokers' An aIleS S,SI
co were principally inteTestsd IN ;ts i1aa been
and Dominion Iron. whi'h 1or ,s-s.nsai ~tsnS 20
lcclinIng in this market aIG dt ~, tei,, l,v the
aeaI Interests are not affected seriously -! tio @
-.-i-,-s ss The firm several weeks ago cleeIe1 W
-9rscrscallv all interests here f5osto laI
-rae li-lft
81, 4i7e announcement OF the failure Dominion
,-C1I s,on714aDv shares this market TaEiolH zen
.-a,a = - - Dominion Iron and Steel. willcIl
oeI1ej al a. touched 12aa d new low record pIJ
,-al;ied 10 u later declining CANADIAN fdciS ie
points TO lls's
The panic IN Montreal was reflected in the New
York stock market only IN such stocks as are
,raded il OF! Montreal account, which ars known
here as the Canadian group. Twin Ol1y i>ap''
-arsi. was the principal sufferer. breaking from
par TO S7 bat recovering 10 20 at the close, ne.
loss for the day OF - points. Canadian Paclfc SOLD
sou, 10 11s. closing at l2lTs, unchanged from
Monday Minneapolis. St Paul and sault sc MARE re
slrOrYred rallied at the ciOSS 10
I6lv TO 1872. closing with = net loss OF poIItS
no The news the Toronto lalIure nae d so"C
effect on the local market as II had been rulnoIe
little tine that lls '-Hit-uie ,i -f
likely to fail owing the decline IN leading seeu-a
1ies in when Montreal ana toronto - -s
parties have been heavily inter si.I >
:fat the Impending failure had at length occurred
had a good effect on local setltnei-l, the ma
fn general being strong and advancing -.
Ames a. CO. have several correspondents IN Ina
civ including two Stock Exchange hrIIls-l1aloIdM
( co. and W u. GOadbY " CO Ilelf ttIdt W..
gears The ineoiveut firm is said TO be one OF t ne
largest and best known in canada Ihe amount o o.
,5roNjnately known here. The firm had . coInI.eF-
clal rating OF more than 9.0oe+.