The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-07-27
SUSPENDED.
Failure of Edwin s. HOoIey &
Co.'S on Stock Exchange.
Was Recorded Soon After To-
days Opening.
PROMINENT BROKERS
In the Days of Roswell p.
Flowers Bull Campaign.
The Collapse Had Little Effect
on the Market.

New York. July 27.-Another stock
exchange failure was recorded soon
after the opening of today's market,
when formal announcement was made
on the exchange of the suspension Of
Edwin S. Hooley & Co. The firm in
cludes besides Mr.. Hooley, Frank
Brumley and Norbert Heinsheimef.
Hooley & Co. were especially prominent
brokers in the days of the Roswell P.
Flower bull campaign. Hooley & Co.
were specialists in Evansville & Terre
Haute and Des Moines & Fort Dodge
securities
In stock exchange circles Hooley &
Co.'S suspension caused little surprise
In some quarters in fact the announce
ment had been discounted The market
opened irregular. and fractionaIly lower.
IL rallied just before the Hooley fail
ure was announced. after which it de-
clined slightly and then rallied again.
The members of the firm of Z. S. Hoo
ley d Co.. whose suspension was an
nounced this morning. had no statement
TO make I'D to IL O'Clock. The general
belief is that the failure of the firm was
due largely to the heavy drop in the
prices of Des Moines and Fort Dodge
and Evansville and Terre Haute stocks
on Saturday. 1t is authoritatively sta
ted that w. l.. Stow & Co. had no inter-
est in Evansville and Terre Haute Sc
curities, of which company e. S Hooley
is the president and in which his firm
is understood to have been largely in
terested. Last year Mr.. Hooley and Mr..
Stow bought control of the Des Moines
and Fort Dodge property and at the an
nual meeting year ago, elected three
directors representing their interests and
at the annual meeting this year elected
three more. The lease under which the
Rock Island operates the property is
still in force.
Toward II o'clock there was a strong
advance, led by New York Central,
Brooklyn Transit and Delaware & Hud-
son, st. Paul, Pennsylvania, Canadian
Pacific and United States Steel which
rose from 1 to pa. The market seemed
to reflect relief that the expected failure
had been announced
Shortly after noon announcement was
made of the failure of William Basset K
Co, members of the Boston and New
York stock exchange. The firm had
practically no contracts outstanding on
the New York exchange for more than
a year and the failure was regarded as
comparatively unimportant.
Philip J. Britt, the assignee of Talbot
J. Taylor & Co. said today that he was
not prepared as yet to make a state
ment regarding the cOmpany's affairs
which are found to be better than expected.
This friend. said that if the market re-
mains at all good the firm should be
able to resume soon.
At the office of w. L. Stow & Co.. the
assignee is still at work on the books.
A BOSTON FAILURE.
Boston, July 27.-William Bassett of
So State street, a commission broker,
member of the Boston and New York
stock exchanges, failed to day. Mr.. Bas-
sett had been in business in Boston for Il
long time handling mainly municipal
bonds. No statement is available at
present but the failure is not regarded
in financial circles as important.
EXCITES INTEREST IN LONDON.
London, July 27--The keenest interest
is manifested on the stock exchange in
the financial situation in New York, the
effect of which was today shown by the
decline in Americans of half to points
below Saturdays closing prices.
The American bank statement was re-
garded as disappointing, the fact that
there was reduction in loans in spite of
the heavy liquidation, causing uneasi-
ness. Operators on the stock exchange
were nervous awaiting news of the de-
velopments in Wall street.
Lord Rothschild said to a representa-
tive of the Associated Press:
There is no English news 1t is
American news-what has taken place
in New York-that we desire. No one
here knows about the depression in New
York. One person says it is due to pri-