The Birmingham age-herald., 1908-12-27
Henry w. Poor Makes Assign
 ment In Nam9 of Firm
MAY BE FEDERAL RECEIVER
Liabilities of the Firm Are Estimated By Millions, But Attorneys De- clare That Favorable Liqui-
 dation May Be Made.

New York, December 2s.-(special) )-The assignment of H. W. Poor & Co.,, bankers and brokers at No. 33 Wall street, startled the financial world today.
 Definite facts as to the liabilities, as- sets and creditors were withheld for the present by the attorneys in charge, but in Wall street circles the liabilities are estimated at from $50O0,OOO to s150O0,O GOO.
 From the moment that a typewritten notice appeared upon the doors of the banking firm this morning announcing the assignment, those directly concerned mys- tified the public by concealmer facts and an indefinite statement.
 When the statement appeared t was issued by the personal counsel for Mr. Poor, who also was announced as attor- ney for "certain creditors" and to him the lawyers for the assignees referred all in- Quirers.
 Members of Firm.
 The members of the firm are said to be Henry ". Poor, Henry V. Poor, Will liam N. Phoenix, Franklin w. Hunt Charles F. Cushman and Frederick F. FArrar. The latter is manager of the Boston branch. Cushman also resides in Massachusetts.
 Henry V. Poor, a lawyer, is the son of Henry W. Poor He corroborated the statement that his father was the sole member of the Wall street banking house conducted under the corporate name. Be- yond that admission he refused to make a statement.
 When the lawyers were asked if Mir. Poor was also the sole member of Poor S Railroad Manual company of New York, of which he is listed as president in the corporation directories, the attorneys con- suited moment and then said they could not give a definite answer. The directory gives H. W. Poor as president, William N. Phoenix as secretary and Henry " Poor and Adrian H. Larkn as directors
 Other records show that Henry W. Poor is a director of the Postal Telegraph Cable company of Texas and director of the Missouri, Kansas and Texas Rail- way company and of the United States Casualty company.
 Assignee Named.
 The formal announcement of the as- signment gave Mark T. Cox of the firm of Robert Winthrop & Co. as assignee Officials of the Winthrop company re- ferred interviewers to Hawkins & Dela- field, the representatives of MT. Poor and certain creditors" Hawkins & Delafield issued a statement saying:
 "A superficial examination justifes the belief that If the creditors who are few in number, will cooperate in en- abling the assignee to effect a favora- ble liquidation of the assets, a large sum will be realized for their benefit Written assurance of important finan- cial assistance to such creditors as will cooperate to that end have been given"
 It soon became known that an inde- pendent creditors action was on foot for the purpose of having a federal re- ceiyer appointed.
 According to gossip In Wall street the losses which brought about the downfall of the banking firm were the result of dealings in sugar. Claimant for Big Sum.
 Howard Willetts is one claimant against MT. Poor who has a case pend ing in court. He brought suit to re- cover $245,000 which he claims he had invested upon the advice of MT. Poor in western railroad. The suit was started a year ago but did not become public until last month.
 Henry w. Poor has been prominently identified with the banking business since 1880. For 15 years previous to that date he was widely known as one of the publishers of Poor's Manual of the Railroads of the United States Since 1899 he has been considered in Wall street to be the capitalist of the firm of H. W. Poor & Co. and has claimed that the firm was worth $3, 50O,- 900. He became a member of the New York stock exchange in 1890.
 During many years he has enjoyed the confidence and close friendship of J. P. Morgan, the street understands, and this was one element which added surprise to the news of the failure tie, MT. Gray. the president, voted aye"
 The next entry was about MT. Leath being paired with MT. Blaclsmon, and the next entry noting adjournment.
 Amended By Governor.
 The next reference to the bill is on the forty-seventh day, August 1, when 1t was returned from the house with an amend ment offered by Governor Conner This had to do with taking in some North Bir- mlngham territory It passed 26 to O. the journal setting out in full the amendment and the vote thereon.
 Secretary of State Frank N Julian, who is an old clerk can see that the errors could have resulted from copying. He re- lated how the records are made each day and how from these journals are made for the secretary of state and for the printer. In one the entire vote seems to have been copied, in one it is left out. He remem- bers that the revenue bill of 1S9S-9 was lost In the court. the supreme tribunal hold ing that the record of the secretary of the senate or house cannot be taken but the record on file with the secretary of state only.
 | It is a matter of pleasure to the friends of MT. Julian and of Cyrus B. Brown, nlo of ha a hn11sa that 10 Ia