The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-10-11

n dcab to DIR. cebalbon he declared his pur-
Doae OF coming to New York and personally
presenting his accounts and delivering the
balance on hand. He was expected In due
course 10 reach New York on' MONDAY Of this
week, but failed 70 appear and IL has Just de-
veloped by cable from Ha vana that instead or
departing for New York he had left on his own
ship for parts unknown. accompanied by his
wife and children. Every cnort Ia being
made 20 locate the absconder.
Sllyeira A Co. were one of the largest and
best known nrms In Havana, were the largest
importers Of cattle in Cuba and were reputed
especially to have made "A large fortune I'M
mediAtely after the war.
Messra. Ceballos 4 Co. having no Fremont
ton OF this conduct of their agent. and con-
fronted with this large loss and the depriva-
ton of their current resources. | have IN TINS
emergency deemed it just 10 all having reia-
tions with them that they shuold make a
general assignment without preference IN
order TO insure equality TO all and opportunity
for examination Of their affairs in connection
with these unexpected and amazing develop
ments. Under the extraordinary conditions
mentioned and the suddenness Of the disaster
which has fallen upon the firm OF CeballoS
A Co. L. Is impTaCticable at the moment
20 make an intelligent statement OF their
assets and liabilities. In a general way
the liabilities are bet 81, 10000 o and
t4.OOO.OOO.
The house OF J. VI, Ceballos 4 Co, was
established over fifty years ago, and mas
established connections in Spain, spanish
America and the European centres. The hrm
in come elton with its American clientele
has devoted much Of its capital to the develop
ment of important railroad, sugar plantation
and other enterprises on the island, besides
having large interests IN TINS country snd
Spain and other ports. The assets are OF 4
very substantial character, but from hasty
examination II il manifest to me that they
will require careful husbandinR. The &C
Cnuntants are At work and we viii ne able
within a few DAYS 10 make a fuller statement.
LONG LIST or FIRM ENTERPRISES
The offices Of the suspended Arm were on
the third floor of Lords Court. n William
street. Mr.. Cehallos, John :. Eiske Of
Wcsthampton and Anderson {. Wilson Of
Plainfeld were the partners. The house did
n general banking business, but 1t was not a
Stock Exchange house, and concerned
itself mostly in purely mercantile AFFAIRS.
At one time it did a good deal in importing
raw sugar and handling sugar bills. or late
years the business has been Principally
what is known in Cuba as merchant bank
ing; that is, handling securities Of COM
panies in which the house itself was heavily
Interested as part owner. Among the more
important Of the firms connections were
the following:
Cardenas Cuba) City Water Works.
Mr.. Ceb allcs, president and director; Mr..
Fiske. secretary. treasurer and director.
Commercial Investment Company OF Porto
Rico, Mr.. Ceballos, president and director;
Mr.. Fiske. vice-president and director.
The Curtin & Golden Company, Mr.. Ceballos,
director; Mr.. Fiske, treasurer and director.
The Development Company Of Cuba, Mr..
Ceballos, vice-president and d~lrector; Mr..
Fiske, director. Horn Silver Mining Com
pany, Mr.. Ceballos, vice president and
director. India Wharf Brewing Company,
a subsidiary Of the recent New York brewery
consolidation, Mr.. Ceballos. president and
director; Mr.. Wilson. director. international
Banking Corporation, Mr.. Ceballos. di-
rector. Iron Steamboat Company, Mr..
Ceballos, ~vice-preSident. New York and
Porto Rico Steamship Company, MIR. Ce-
ballos and Mr.. Fiske, directors. Oil Fields
of Mexico. Mr.. Ceballos. director. Porto
Rico Telephone Company, Mr.. Ceballos,
treasurer and director; Mr.. Fiske director.
Rosario CUBA Sugar Company, Mr.. Ce-
ballos, president. st: Nicholas Skating
dent. silveira Sugar Company Mr., Ceballos.
president; Mr.. Tiske, director. Tacon Realty
Company, Mr.. Jehallos, secretary treasurer
and director. United States and Porto
director; Mr., Fiske, director. Universal
Motor Company, Mr.. Ceballos. treasurer
and director; Mr.. Eiske, vice-president
and director. Fiske Fruit Company of
Cuba, Mr.. Fiske, treasurer and director.
John d. Gordan Company. Mr.. Fiske, vice.
president and director. Jucaro Realty Com
pany, Mr.. Fiske, secretary, treasurer and
director. Manchester Citrus Groves, Mr..
Fiske, president and director. Settle Pack
ing Company Of New York, Mr.. Fiske,
rector. The Newfoundland Syndicate, Mr..
Fiske, director. The Varona Land and Inn
provement Company, Mr.. Fiske, vice
president and director. Monumental Trad
ing Company, MIR. Wilson, secretary, treas
urer an d director.
CREDITORS NAMES NOT YET KNOWN.
To what extent. IL any, any Of the above
concerns ia affected by the failure could
not be learned yesterday. Nor was it
possible to ascertain the names Of the prin-
cipal creditors. IL was said among bankers
that Ceballos 4 Co. had recently been heavy
borrowers but principally in Europe,
many finance bills. Whether or not it rae
borrowed extensively or securities as COL
lateral in either the New York or foreign
markets was not ascertained. 1t was con-
sidered, however, that the failure was likely
to nav not at all as damaging an effect
upon &c New York market, for the reason,
that its heaviest investments we're abroad
as would reasonably be expected from the
suspension of a house Of such importance.
EFFECTS OF THE FAILURE
A mar who has close business relations
with the firm said the loss Of 81 1000 900
really crippled the house to tn extent of
S4,OOO, 900 in curtailing its credit to that
amount. The loss, he said. could not
rave come at a worSe season, for the reason
that the house lends large sums during
the harvest and grinding Of the sugar crop.
Its funds we're tied up very largely, he
declared, in such loans, and il was i'm
possible TO call them.
The failure is considered certain TO have
a damaging effect upon busines in Cuba,
where the firms interests we're most ex-
tensive. Among other things it means
the abandonment Of a comprehensive
Cuban railroad scheme, which contemplated
the construction OF an entire new rail-
road system reaching all the Ceballos prop
critics and covering all that large part
of the island now with inadequate trans
portation facilities.
sILvEIRA AN ACTIVE SPECULATION.
Manuel Silveira, characterized in the
firms statement as an absconher. was said
by persons familiar with Cuban financial
matters to nave been the most active pro-
moter in Cuba since the close Of our war
with Spain and the liberation of the island.
Formerly the business Of his banking house
had to do principally with the importation
of cattle and for this purpose the house
still maintains a fleet Of steamers plying
between Texas, the United States of Colom-
bia and VenezueIa. This bNlainPsa Ia undar-