New-York tribune., 1908-12-29
POOR FAILURE INQUIRY
CHANGE PROBE RUMORED.
No Dissolution of Partnership Pub
hshed IN Bulletins.

Reports were current yesterday that the soverTi-
Ing consnittse of the Stock Exchange might decide
e make inquiry into the failure OF the firm OF
Il " Poor & Co. which occurred Saturday
and formal announcement ot which was made on
The exchange yesterday morning. The assignment
was made by Henry ". Poor. tTansecting business
under the name Of H ". Poor & Co. while.
sccording 70 the latest edition Of the Stock Ex-
change directory. the frEn Of H ". Poor & Co. is
composed Of Henry ". Poor. the board member;
Frederick A FarTar. Franklin L Hunt and Charles
:. Cushman and the weekly bulletins issued by
the exchange since the publication Of the direc-
tory last July have shown withdrawals from the
partnership
The stock Exchange constitution provides that
notice of dissolution OF partnership must tnlme-
cia-eIv ts registered with the secretary. official
announcement be made &c the exchange and notice
posted the bulletin for ten days the penalty for
failure TO comply with this requirement being sus-
pension for not more than ore year. Almost every
week the bulletin contains one more items IN
der the head OF Changes in firms The July di-
rector also says that H v. Poor & Co have q
branch oHice IN Boston. in charge Of a resident
partner but. according dispatches from Boston
yesterday there Is z separate firm OF II. ". Poor
& Co II Boston. in which Henry w Poor is a
partner the other members Of the firm being the
three named IA the Stock Exchange directory
a. mis- partners. and thus liable with him in the
.-ru CT Il ". Poor & CO. OF this city.
The attorneys for the assignee and for certain
creditors declined yesterday 20 make any state
rent concerning any phase OF the failure. but the
change il the partnership status appears 10 have
taken place some time ago, Henry ". Poor
vas quoted as having said November z. in an
interview regarding the suit brought against the
f--r Of H u. Poor & Co. by Howard Willets for
more than Seeo0oa, account Of his Investment
IL bonds Of the Newton & Northwestern Railroad.
y Iowa. that EIr- WiIlets had bought the bonds
-'on -he strength Of circular sent out by the
Boston frul C Henry " Poor & Co. Of which I
an g partner"
Il was said yesterday that the failure was caused
y the withdrawal OF a number Of important ac-
courts from the firm Immediately following the
t-s7EinE u the action by Mr.. WIIIeJs. The firm
Is understood also 70 have tied up a large amount
Of money II The bonds Of z railroad IN the South
which has been under construction for several
gears. and have sustained serious losses through
lis connection with the Colonial Sugar Company
The failure had 10 influence on the stock market,
vaich was conspicuousy strong and active through
CT and shovel handsome net gains IN many OF
Ihe issues.
= mechanics lien vas fled yesterday against the
home of Alr. Poor. No. ! Lexington avenue By
Hull. Crippen & Co. for S196 SS.
P 4 Care, managing editor OF ''Poor's Man
Eal.' said yesterday that the assignment Of H. "
Poor & CO. in way affected the publication OF
the manual as il IS published by z separate cor
po-s1ion- According 70 NJ Carey the Poor Rail
.-oad Manual Company Is not creditor OF the
1siled firm and. further the publication OF the 1893
manual is now going
Boston. Dec z-No business was transacted to
cay q the Office Of H. u. Poor & Co, following
t1e assignment IN New York on Saturday OF Henry
y Poor The checks Of the LEGAL firm. which has
account Al the ShawT-ut National Bank were
returned unpaid On Saturday. and today ali in
Cui-ies we're referred James f Jackson an at
JCrney and former chairman OF the Railroad Com
mission. who said ne had been asked TO act as
assignee NJ Jackson said later:
meeting CT the creditors VII be called at once
baby "A Wednesday Meanwhile. statement Of
affairs is IN preparation be submitted that
T--ls- / should expect that AZ this meeting some
pan VIII - adopted which would recognize the
that i VIII be for Tte best interest of ali con-
Csr1eG take such action VIII make II pos
Eihie 10 realize the fun value Of tte collateral
has been pledged 70 secure Indebtedness
Z my understanding that claims are generally
scored that assets represented by equities
securities that have been pledged.