The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-07-25
BLACK FRIDAY
IN WALL STREET
lcoatIaaed lrom 20 ~
years. that famous operator making the
~ .-Ln-. naion his haaanmarlars
Keene Would Not Talk.

Keene Would Not Talk.
Foxhan Keene is now abroad. His
father was at the latter's Office TODAY
but denied himself to all save a few
close friends.
The effect Of the Taylor failure upon
James Il. keene's personal affairs is
purely a matter Of conjecture. Accord
ing to some reports, the veteran oner-
ator Is heavily involved. and according
TO Others scarcely at all There are
many who believe that the TAYLOR fail
ure is directly due to the bad blood
stirred up by the firm and Mr. Keene
IN the Southern Pacific and MetropoI-
tan suits. In fact, it has frequently
been SAID that the Harriman and Whit
ney interests would not be satisfied
Win anything less than the SCALP of
the keenes and Taylors because of
these episodes.
Sympathy For Stow.
The firm of w. L. Stow & Co. CIV. L.
Coohdge) was organized in 1899 and has
been known almost ever since as the
stock market representatives of the
Mexican Central railroad. The firms
manipulation of Mexican Central Sc
curlties was frequently a matter of gem
eral gossip. Mr.. Stow is well known in
club and social circles and has had a
handsome country estate at Great
Neck. He is a prominent automobiles.
his partner, Mr.. Coolidge. is very pop
ular on the exchange and much sym
pathy was expressed for him today
Almost 10000 shares of Mexican Cen
tral were dealt in today. the stock sell
ing down violently from 10 to IL and
closing at 125I. a net loss of 61k points.
The first income bonds declined more
than points. During last years bull
movement Mexican Central stock sold
as high as BIS.
The Mexican Central Railway Qim-
itedl Of Mexico was Incorporated Feb.
Is, 1880, under the Massachusetts law
and holds a Mexican charter and sub
sidy. It's main line IS from Mexico City
to Juarez, a distance of 1924 miles.
In March, 1901. a syndicate headed by
III. Clay Pierce of st. Louis acquired a
majority of the stock. the amount Of
which outstanding at that time was
about S4S. 100000. In January, 1902. the
company issued 100000 900 collateral
trust five year 1-2 per cent bonds, Sc
cured by S16,12s, 900 consolidated 4 per
cents, held IN the treasury, the pro-
ceeds of which were used for the re-
tirement OF $4,000, 900 notes Issued in
payment Of the Monterey & Mexican
railroad. The balance was used, ac-
cording 70 report, for the extension
Of the Monterey road.
The Mexican Central Securities COM
Pany, limited, was founded in 1899 to
acquire the 4 per cent consols of the
Mexican Central railroad land to issue
in their place two classes Of securi-
ties" Several prominent Englishmen,
including Lord Hollingdon and Lord
ReNelstoke, were among the original
trustees Of the securities company.
Statement Issued.
The appended statement was issued
at the Office of Taylor & Co. this even
ing:
Talbot Taylor & Co. have this day
executed a general assignment for the
benefit of creditors to Philip J. Britt.
and he has accepted the assignment
and has taken charge of the property
and assets of the firm.
1.-THE assignment of the firm is due
to their inability TO liauidate the stocks
which the banks held for their account
All banks having loans with them are
well protected. but inability to liqui-
date the stocks so held has caused the
suspension, which, it is hoped, will be
temporary, if the banks take reason
able view that by waiting gradual Ii
quidatiOn can be effected without dis
tUrbance to the stock market. The
largest unsecured creditor of the firm
is Mr.. James r. Keene."
Efforts to ascertain the amount of the
firms indebtedness to Mr.. Keene were
unsuccessful.
The assignee is a prominent Tam
many politician and is well known as
close friend of Mr.. Keene.
Today's failures on the exchange
were the first since May last year
That day three firms, all of them in
volv9d in the Webb-Meyer syndicate, |
went under. Two resumed business.
The Liabilities.
No statement Of Taylor & Co.'S as
sets and liabilities has been made, but !
from the president of n leading bank it
is learned that the liabilities may be
well on to $6.000,000. Estimates of
stow & Co.'s liabilities range from 81
100000 to s., ZOO, 0OO