New-York tribune., 1906-10-12

which Silveira might go would refuse to give
him up If such contingency should arise. il Is
suggested that strong request from the Ameri-
can Governor of Cuba would be quickly honored
One of the places mentioned as likely refuge
for SIiveira is Venezuela because of his known
friendship with President Castro.
III the mean time every port in the United
States is being watched for the Carmelina- until
whoss arrival the whereabouts OF Silveisa will
continue mystery It Is not probable that the
missing man will be able to land even in a for
eign port. without being apprehended, for cable
messages have been sent broadcast asking that
a lookout be kept for him.
RATING OF COMPANY.
Bradstreet rates the capital of ]. NJ Ceballos
& Co. at from 100000 to S1,OOO.OOO. and Dun
at more than $4,000. and both Of these mer-
camille agencies give the credit OF the firm their
highest rating. Nevertheless. banking insttu-
tions Of this city have for the last two years had
their doubts TO the financial strength of the
firm, and OF late its credit has been known to be
much impaired Within the last month. IL was
said yesterday on excellent authority, friends OF
Mr.. Ceballos have advanced considerable sums
to him or to the firm.
The house Of j. NJ. Cebaos & Co, as has al
ready been said. is an old one having been
founded more than fifty years ago. Around the
time OF the late war with Spain. it was said
downtown yesterday. the firm had lapsed into
condition approaching that which is commonly
described as dry rot" But with the ending Of
Spanish rule in the island, the Ceballoe house
took an active and leading part in the promotion
and development of enterprises OF various sorts
IN Cuba, these undertakings. indeed, being so
numerous and so extensive In scope perhaps
to have had good deal TO do with the growing
difficulties of the firm. Last November. to give
a single instance, machinery costing $4,000
was purchased in Glasgow for installation in the
plant OF the Silveira Sugar Company OF which
corporation Mr.. Cebalos is president and NJ.
Siveira a director, at Ciego de Avila- Cuba: but
no cane has yet been ground there.
Probably the most profitable undertaking OF
the firm has been the purchase OF the Cuban
soldiers warrants in which operation they have
been associated with many firms. both here and
in Europe. with Silveira as their representative
in Cuba About seven thousand Cubans, II is
estimated by competent authority actually per-
formed the military duty, in payment Of which
warrants on the Cuban treasury were 10 be
drawn. Warrants for $4,000 men were actually
issued. it is said; and these warrants which
at the outset appeared to have the remotest OF
chances Of redemption at face value, the Cuban
government being just established and virtually
without funds, were bought up at exceedingly
low prices by the Ceballos interests ana by other
speculative groups In 1909 the republic OF Cuba
negotiated sac, 900 900 loan in this country. and
of this sum SIS, 900 900 was used in the redemp-
tion az par, with interest at per cent a year
from the date Of issuance OF a great number OF
these warrants. Within the last year most Of
the remaining warrants have been redeemed by
the payment OF $16 900 900 cash from the Cuban
treasury and the issuance of S12,000,000 bonds
by the island government an issue TO the au-
thorization of which President Palma personally
was strongly opposed. The profits TO the specu-
lators, who had acquired the warrants at 10 10
10 per cent OF their par value, admitted by
them 10 have been enormous.
SOME OF FIRMS ASSOCIATES
Many firms In this city went into this specula-
ton. Among those associated with the Ceballos-
Silveira operations said to have been Will
lam Solomon s. Co, William A. Read & Co. and
Keech Loew & Co.. but participation in the vent
ure was denied yesterday by OF these
houses Farson. Leach & Co. the New York
business OF which firm is conducted by
A. B. Leach & Co, were also among the pur-
chasers of the warrants but employed coll
leCtor in Havana other than Silveira-
w. V. Rowe. the assignee OF the Ceballos firm.
yesterday said that II would be several days be-
fore he could have ready another statement con-
cerning the FIRMS condition A large force OF
expert accountants are at work on the books,
and the firms employees have been informed
that their services will continue to be needed
for at least two weeks. The only creditor thus
far publicly known is the firm Of William Salo-
mon & Co Robert Waller, jr., one OF the part
ners said yesterday:
THE only interest OF William Saionnon e. Co.
in the failure of ]. NJ. Ceballos & Co. consists
of loan OF 100000. for which we have ample
security
He declined to indicate the nature of the col
lateral or 10 give details concerning the loan.
s