New-York tribune., 1908-12-27
LIABILITIES NOT HE4VY,
GENERAL BELIEF.
SAID to Haze Been WOrth Fire
Million Dollars Fec Years 4go
-Nark 4. Cor assignee.

day morning for the benefit OF creditors 20 Marx
T. Cox OF the firm Of Robert Winthrop & Co
II is understood that the vast sums Mr.. Poor
expended on his houses and the art treasures
contained in them at Tuxedo and Bar Haroor
and on his home. At No I Lexington avenue, n
this city as well as the cost Of his Hbrary-
which was SOLD ar auction recently had made
such inroeds on his private fortune said by his
old associates TO have amounted At one time 20
SJOfOOOO that ne was short OF availabls capl-
tai when the financial storm came last rear ana
had been struggling 20 keep his head above
water ever since
The first 1ntimatiou the public received thas
the banker might be in financial straits vas
the announcement that his library which vas
regarded as among the finest private collections
Of rare books in the world. was % BE- sold N
Wall street however the real situation Of af-
fairs had been known for some months. and =
was understood also that the bustress of rs
firm which had once been prominent IN the
Street. was suffering from what - generally
known there as "drv rot
The firm OF H " Poor & Co. which vas
formed or July l. 1890 until recently included
in addition 20 Mr Poor. who was tire board
member Frederick 4 Farrar- Franklin L
Hunt and Charles 2. Cushman- representa-
tive OF the law firm OF Hawkins & Deiaaeid-
counsel for the creditors said yesterday. how
ever that all OF the members OF the hrm sN-
Cepting Mr. Poor had retired When they I'D
so he was unable to state. but IL must have
been since the latest issue OF the New York
Stock Exchange Directory, in July. 1879 m
witch the membership OF the firm was given as
just noted
SAY CREDITORS ARE FEW
The o7lv statement in regard to the assign
I rnent Of the firm that was given out yesterday
! was the following. which was authorized oy
/ John l. C,advaIader. Of strong & Cadwalsders
+ representing the assignee. and Lewis L Dela-
/ field. OF Hawkins & Delaheld, representing Ger
/ tain large creditors
/ Henry " Poor. trarsacrfnz 5us5nszz= 4 tns s5sss
/ has made a general assignment for the benefit =
Go Thsrs are no preferences beyond such tas
s1perfciai azsriinatou i1sJiaes the belief thar
If the cTeciJoTs VINO are ~ n y Rls@ s4gr -" gsv9@
abe li9udsu9R "a Of re ] assets tfsT M zs-ancs % -
Important financial assistance 70 such creditors as
/ N-.i,5e+ A. 60 - as=ir1ee nor Rohe-r VIM
i wise in the assigned estate.
! This notice vas posted on the door o. the Of
! fees OF the firm which were closed
/ Henry W Poor. transactGaz business in t1e efty
~ New York uncer the ualle ol II " 80 sz = =,
cTedifoTz e7yitHout any rsfe-euces Marx T. Cox.
! Of The firm Of Robert V,iutlroP < 20
sTRONG : lsADyvAI.t0EE.
4
) Mr. DeIaheld said that it vas unlikely aur
/ further announcements would be made before
/ Monday at the earliest. as the attorneys wanted
I time 70 examine the books It is not believed
however that the liabilities viii be extensive n
/ the business Of the firm had not been large -
/ late
| Leading bankers expressed the opinion ysstsr-
/ dav that the failure would have no projudiciaI
/ effect on the stock market the financial dis
{
/ pected for some time The firm did a consider
/ able volume Of business in the first few years
I OF its career but Of late years II had not bee1
prominent in the business activity Of the Street.
/ confning its operations principally 70 invest
I nlent business and the marketing Of securities
/ OF certain high class corporations
/ MADE MONEY N ICE
/ Mr.. Poor is president and a director OF Poor's
/ Railroad Manual Company. which publishes
/ -Poor's Manual for many years a STANDARD
| authority on the railroads OF the United States
+ He is director OF The Missouri Kansas L
/ Texas Railway Company and president and a
/ director Of the Postal TeIegraph-CabFe Company
/ of Texas He was formerly vice-presidsnt ami
I a director OF the Colonial Sugar Company, and
/ was interested in other sugar concerns dong
/ business in Louisiana and Cuba 1Ir Poor was
! also identified with the early history OF rns
] American Ice Company and Is understood IN
{ Wall Street 10 have Deer prominent III pte-iiS
its securities He is credited with having made
; d great deal OF money IN American Ice in which
John 2 Carroll. ex-Mayor Van Wyck and other
( prominent Tarnrnanv men made fortunes through
/ the instrumeutaIity OF their close associate
/ Charles " Morse the banker. who is now n
+ the Tonbs
/ M Poor was elected a member Of the NeT
/ York stock Exchange on October - 1880 ara
/ before the organization OF the frn 0f H " Poor
/ s. Co. was the board member OF the firm OF Poor
/ & Creenough which consisted OF John Green ugh
and himself This was one OF the leading broker
( age firms in Wall street and promoted many IN
dustrfaI concerns among them being the United
states Leather Company
MORTGAGE PUT on HOME
The first evidence that Henry ". Poor al
/ suffered in the panic last year was the placing
/ OF A mortgage for 100000 Oy his wife on -
home at No. lexington avenue. on Gramerry
Square This mortgage vas boEg1r on Decer1-
/ Der by Mrs Russell sage. a friend ~ Mrs
/ Poor and associated with her in charitable work
| Then the sale Of the library was begun last
/ month II was the work OF careful collection
extending over a period Of thirty years The
/ sale netted s4sss7. Among the purchasers Vers
[ agents Of ] p Morgan. Senator Henry c. Lodse.
Mrs Joseph Pulitzer and Howard and GeOrgs
Gould
/ While the library sale was in progress SuIt
was brought against Mr. Poor BY Howard VIII
lets for set9.500. with interest. less S5i.s5a oz
account Of a deal In railroad bonds into which
Mr. Wiuets said he entered because % advics
from Mr. POOR The suit is stiu pending
In 1908 Miss Edith Poor daughter of NJ
n -Fza n raj lar fr.rf,-