New-York tribune., 1909-05-21
HUB BROKERS SUSPEND.
Sederquist Barry s Go, Hit by
HeGry U7ithdrazcaIs- Branch Here.

Boston. May 2o-Withdrawal of accounts and the
bull market said to have been the causes Of
failure to-day OF the brokerage firms Of Seder-
ouist. Barry & Co. and Edward P. Cramm & Co.
the latter suspending after the assignment Of the
first named Subsequently involuntary bankruptcy
petitions filed against Sederquist. Barry &
Co. and Charles S. Weed appointed
ceiver for the firm. The assignment was made in
this city to the Law firm Whipple. Sears &
ogden. The following statement issued later
in the day:
The heavy Withdrawals caused by the failure Of
have irrpaired The capital Of the firm After con
ferring with counsel therefore and an eNamna-
ton Of thr b'oks II has been deemed In the
examination Of the firms assets viii he made at
and a statement issued.
Both se5erquist Barry & Co and Edward p
Crarnm & CO. We're members Of the Consolidated
Stock Exchange Of New York The sederquist firm
has numerous branch offices throughout New Eng
land and another place or business in New York
Both firms dealt largely in New York stocks, and
had no representatives either the local exchange
or on the curb.
Il was stated that Liabilities of Sederquist,
Barry & Co would be found be comparatively
email. The claims against them by the petitioners
IN the bankruptcy proceedings amount to 1870
The suspension of Sederquist Barry & 60. was
announced on the floor OF the Consolidated Stock
Exchange yesterday, following the announcement
Of the failure Of the firm III Boston, where its main
Offices were situated. Notwithstanding its condi-
tion however. the firm only recently moved into an
enlarged suite Of Offices at No. - Broadway.
The firm is composed Of Arthur B. Sederquist
John E Barry and David e Bgelow. the latter
being ths board member. The firm was formerly
Curtis & Sederquist. Harry Z Curtis being the
board member. About year ago M Curtis with
drew and bought a seat on the New York Stock
Exchange AIr Rigelow succeeded him as the board
member Of the firm Its main Offices are AT No ls
Congress street, Boston. At the New York Office
It vas said that all the members Of the firm were
n Boston, and that the reasons for the assign
rrent were known here.
II other quarters il was learned that the ex-
Y,ected increase in the firms business by the open
.nz Of larger Offices in this city did not materiaze
and that in the last few days il had turned over
sts Consolidated Stock Exchange business to Theo-
Ssore y. Wilson, floor trader. Rumors that all
i1ion in the day SO. result Of which Nj
Wilson went 10 Boston, and after an investigation
Of The firms condition decided, il said, dis
continue his connection with il r. II. Read, chair
man Of the membership committee OF the ConsOli-
dated stock Exchange, also went to Boston to learn
what was behind the reports regarding the firm.
FIe said yesterday that found il in insolvent
condition, and that he told the members that they
would Immediately have TO put more capital in the
business and place il on frmer basis He added
TIA. he had given them certain length OF time in
which 10 meet these conditions, but that they
apparently unable to do 50. and their suspension
followed
UssEatches from Dayton, Ohio announced that
the { ". Wagner Brokerage Company, whose
headquarters We're in that city. had quit business
last Wednesday The company is capitalized
xeaes0 and has branches in thirty-nve cfJies and
Towns IN Ohio Kentucky. Indiana, Virginia. West
Virginia and Tennessee. =. " Wagner, president
OF the concern said that the directors had decided
discontinue business because OF losses sustained
recently. and that all debts would be paid in full.