Evening star., 1903-07-27
and traversed the streets to the city hail.
where the king unveiled a statue erected in
honor OF Queen Victoria.
The reception which their majesties met
with everywhere was most enthusiastic.
TWO MORE FIRMS FAIL
ONE IN NEW YORK, OTHER IN
BOSTON.
Latter Regarded as Unimportant-The
New York Failure More
Serious.

NEW YORK, July 27.-The failure Of e.
S. Hooley & Co. was announced on
the stock exchange today. The firm was
heavily interested in Evansville and Terre
Haute.
The stock Of the Evansville and Terre
Haute Railroad Company sold today at $40
a share. Last week is sold as high as $50.
The members of the firm of Edwin s..
Hooley & Co, whose suspension was an
nounced this morning. had no statement to
make today 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. it is authoritatively
stated that w. L. Stow & Co. had no inter
est in Evansville and Terre Haute secur-
tiles, of which company Edwin S. Hooley
is the president, and in which his firm is
understood to have been largely interested.
Last year Mr.. Hooley and Mr.. Stow bought
control of the Des Moines and Fort Dodge
property, and at the annual meeting a 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.
Shortly after noon announcement was
made on the stock exchange of the failure
ton stock exchange and of the New York
stock exchange The firm had had pracu-
cally no contracts outstanding on the New
York exchange for more than a year. and
the failure was regarded as comparatively
unimportant.
Philip ]. Britt. the assignee of Talbot ].
Taylor d Co.. was at the office of the
company today. He said he was not pre-
pared yet to make n statement regard
ing the company's affairs but he hoped
that he could prepare one before night.
James r. Keene was also at the office, but
would not be seen. A friend of Mr.. Keene
said that Mr.. Keene was in a pleasant
frame of mind as the condition Of affairs
was found to be better than expected.
This friend said that II the market re-
mains at all good. the firm should be able
to resume business very soon.
At the office of.W l.. Stow & Co the as
signee is still at work on the books.
BOSTON. July 27-Wm. Bassett Of 53
State street. a commission broker, member
Of the Boston and New York stock ex
changes failed today. Mr.. Bassett has been
in business in Boston q long time, ham
ding mainly municipal bonds. No state
ment is available al present, but the failure
is not regarded in financial circles as i'm
portant. George r. Miller, lawyer, has been
named as assignee.
London Keenly Interested.
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 Il to points below Satur-
days closing prices. The American bank
statement was regarded as disappointing.
the fact that there was no reduction in
leans in spite of the heavy liquidation.
causing uneasiness. Operators the stock
exchange were nervous. awaiting news Of
the developments in Wall street.
Lord Rothschild said to a representative
OF the Associated Press:
There is no English news. 1t is Amer
ican news-what has taken place in New
Tork-that We desire. All the markets OF
the world hang together. If New York Is
very much depressed. naturally the market
here is upset. If New York and London are
depressed. the market at Amsterdam Is up
set. If New York. London and Amsterdam
are depressed. Berlin is affected. 1t Is
quite an endless chain. Here no one knows
anything about the depression in New York.
One persons says 1t is due to private spec
ulation. another says it is due to the trusts
and another claims that the American
financial laws are not sufficiently elastic.
AT the present moment there is no specula-
ton here in Americans but investments
are always being made"