The Washington herald., 1906-10-11

New York, Oct. IO-The banking house
Of J. NJ. Ceballos & Co, New York and
Havana, made a general assignment for
the benefit of creditors to-day 10 VIII
liam V. Rowe, of the lew firm Of Sulli-
van & Cromwell.
The house was very important one
iE Wall street. its resources being gen
orally placed between Sl,0e0.990 and S5,OoO,-
Gg0. and it was the most important
American banking house 50 far as re-
lotions with Cuba and Porto Rico are
concerned. The assignee, after a Cursory
examination, roughly estimated the la
bIites at between 100000 and $4,000. .O00
No prediction of the value Of the assets
was ventured.
The man responsible for the failure
according 10 William Nelson Cromwell
attorney for the assignee. is on the high
seas. just where no one knows. He is
Manuel Silviera, Of Havana, head Of the
house Of Snyiera < Co, bankers and mer-
chants, Of Havana, q lifelong friend
and close business associate of J. n
Ceballos, and Cuban correspondent Of J.
NJ. CebalIOs & Co
Either lost by him in speculation or in
his possession is $1.5C0000 in money and
other property belonging TO the New
York house.
Hard to Make Collections.
Two months ago, so Mr.. Silviera wrote
Mr.. Ceballos, connections got slack in
Cuba. Cuban revolution was impending,
and ii was impossible to secure anything
like prompt payments. He would do the
best he could later, he wrote, but the
situation was really getting worse, and
from that time up to last week d null
tItude Of excuses and very little money
came to the New York house from its
Havana agent
Eventually, Mr. Ceballos got a cable
last week CAIonday) from Mr.. Silviera. in
which the latter said he had just been
successful in r-a-isjng on the most haz-
ardous risks. and that he would start on
the following day to bring a complete
accounting and large sums Of buIlioR- and
drafts to CeballOs < Co. TO take a long
rest. and TO spend a long visit with his
old and true friend. the head Of the firm.
lie started from Havana, according TO
his announcement. on one OF his own
steamers. the CaTmelina, carrying as its
sole passengers his wife and children and
manned entirely by his own employees.
Mr.. CeballOs expected his friends on
Sunday. but he knew that the CaTmelina
was a cattle boat Of but 1900 tons bur
den, and was not greatly worried when
the ship failed to make port tnat day. ON
Monday he had a sharp lookout kept foV
the overdue steamer, and began 70 feel a
bit concerned. though not yet seriously
anxious over the deal
On Tuesday Mr.. Ceballos began to make
inquiries for the missing ship. He made
as thorough inquiries as possible. Gables
have been sent TO every port which the
CarmeIna could have reached I'm the time
elapsed since October ., The Carmelina
has entered none of these ports. nor has
there come in. as far as can be ascer-
tanned any vessel which has spoken or
sighted her.
ships Whereabouts Unknown.
Consequently no member of the firm. and
no lawyer connected with the investiga-
tion. can tell whether the Carmelina has
made FOR the ends Of the earth, whether
it has been sunk with the Silviera family,
the crew seeking hiding place on some
little unknown coast. or whether It is
cruising about the Spanish Main as a
pirate. or whether il has net with some
accident.
All the circumstances inspire Epecula-
ton, but il is noteworthy that in the
statements given out ~ the counsel to
day not even d suggeision IS made that
the ship has met with some ordinary
mishap on the high seas
As alleged by William Nelson Crom-
well, attorney for the assignee, the cir
cumstances are as follows:
81. NJ. Ceballos d Co. bankers. of New
York and Havana, have to-day made a
general assignment for the benefit to VIII
liam Y. Rowe, of the law firm of Sullivan
& Cromwell with William -,elson Crom-
well as counsel TO the assignee. The sus-
pension is stated by the firm TO be due to
the defalcation of Manuel SiIviera. Of Sill
viera & Co. bankers and merchants. of
Havana, who. for several years have rep
resented the business Office of Ceballos &
Co His deficiency amounts to $l000.000 in
money and other property.
Disappears from Havana.
Snviera disappeared from Havana on
Tuesday, the ID inst, in one Of his own
steamers. named the Carmelina. with
New York as his ostensible destination.
In local publications ne announced his IN
tenuon Of going TO New York, and in
letters TO Mr.. Ceballos he declared his
purpose of coming to New York and per
sOually presenting his accounts and de-
livering the balance on hand
He was expected in due course 10
reach New York on Monday of this
week, but failed 20 appear, and 1t has just
developed by cable from Havana that in
stead of departing for New York he had
LETT for parts unknown, accompanied by
his wife and children. Every effort IS
being made 10 locate the absconder
Silviera & Co We're one of the largest
and gest known firms in Havana, were
the largest importers of cattle in Cuba,
and were reputed especially to have made
a large fortune Immediately after the
war"
Mr. Rowe, the assignee, Immediately
took charge OF the business.
Mr.. Cromwell. counsel for the assignee,
stated:
''Messrs. Ceballos & Co. had no pre-
mention OF this conduct of their agent,
CONTINUED on SECOND PAGE.
The Johnson Cafe, 18th ana f, Is