The Montgomery advertiser., 1908-12-27
HENRY W. W.P00RFAIS
IMPORTANT BANKER OF NEW YORK
 MAKES ASSIGNMENT.
Liabilities of weII-I<novvn Man May Reach as High as S5,O0O, ,OOO-- Financial Circles are
 Surnrfned.

New York. Dee. .2s.--Henry ". Poor, a well known banker and broker of Wall Street, and for years the pub. fisher of Poor's Manual of Railroads. failed today, His banking and brok- 9efsEe fIFnf Known As H. W. Poor e Co. with oiiices at4ss wall Street, made an assignment to Mark T. Cox, of the Arm of Robert r. Winthrop & Co, without preferenee. No statement re- garding liabilities or assets was forth coming today. but as Mir. Poor has been prominent In the street and has influential connections. 1t IS probable hts liabilities will reach 95.0o0. .00O. The entire brunt of the failure Is borne by MT. Poors his former partners hav- ing withdrawn from the firm. The former partners Included Mir. Poor's son, William N. Phoenix, Frank W. Hunt, Charles r. Cushman and Fred. erick A. Warrar. -
 The failure fs probably one of the largest in the financial district in some time. Mfr. Poor was looked upon not only as very wealthy man, but his family has long held high soOiaI poe sition, He has two magnificent homes. one the old Cyrus W. Field mansion at No. 1 Lexington Avenue. and the other a stone chateausat Tuxedo. which has been the. gathering place for the ultra fashionable for years.
 As the Stock Exchange was closed today. the annothcement of the fail- ure could not influence market condi- tions. An effort was made by lawyers for several of the large creditors to present a bankruptcy petition to a Federal judge. but none could be found sitting.
 Rscent incidents in tKe anaits of Mir. Poor are given significance now. since his failure. It Is said that six weeks ago Mir. Poor began the sale of his magnificent library, which he had been thirty years in collecting and which was one of the best in the country Five thousand works were offered and Mrs John D. Rockefeller. Senator Henry O. Lodge. George and Howard Gould.
 Another development was the bring ing of a suit by Howard Willetts. of West Chester. against Henry F. Poor & Co.,. for more than s200.000, on ac- count of deal in railroad bonds into which MT, Willetts says he went be- cause of the advfce he received by Mir. Poor, this suit Is still pending. The transactions of the Fl. w. Poor con- cern. 1t is stated, were on an extensive scale. including big syndicate operaS tfons., Mir. Poor.s connection With that of President and Director. He was also President and Director Of the Postal Telegraph Company of Texas. co
 J. l.. Cadwalader, representing the assianee and Lewis L. Delafield, repre- senting certain large creditors. author ized the statement that there are no preferences beyond such as the statute gives to employees, adding:
 "A superficial examination justified the belief that If the creditors. who are few in number. win cooperate in enabling the assignee to effect a favorable liquidation of the assets. a large sum will be realized for. their benefit. Written assurance of impor- tant financial assistance to such credi- tors as will cooperate to that end has been given"
 Henry W. Poor, it was stated at the office of counsel. constitutes the en- tire firm of H, W. Poor and Company.
 Interested in Alabama.
 Boston. Dec. 26-H W. Poor and Company of New York has maintained a branch office in this city for many wears. dealing exclusively In bonds.
 Local banks hold a considerable quantity of their paper secured by various bond Issues which are being .r,a ,rtad fon the firm.