Watertown leader. [volume] (Watertown, Jefferson County, Wis.) 1909-1911, 1910-01-21
ROBERTS, HALL & CRISIS SUSPEN-
SION FOLLOWS FALL OF CoLUM-
BUS AND HOOKING STOCK.
LIABILITIES MAY BE S3,00O,OOO.
President Crisis Acknowledges This
Amount, but Roberts Declares the
House Is Not Involved.
ALL CONTRACTS WILL BE SOLD.

NEW YORK, Jan. 2O.-The suspen-
sion of Roberts, Hall and Crisis, brokers
on the stock exchange, was announced
this morning.
Mr.. Crisis, the board member of the sus-
pended firm, was the specialist who
handled the orders of the Columbus and
Hooking Coal and Iron company stock
pool on the floor.
Nearly Collapses on Floor.
Crisis endeavored Wednesday to stop
The flood tide of selling orders in the
stock, and before the day was over al
most collapsed and had to be assisted
from the exchange floor.
In announcing the suspension, Presi-
dent Thomas of the stock exchange
added that all contracts on Hooking Coal
held by members of the exchange with
the suspended firm would be sold under
the rules
The suspended firm, composed of j.
Nevins Roberts, Thomas Il. Crisis, Hugh
+. Crisis and Walker Hall, has its prin-
cipal office in Cincinnati. The firm was
formed in 1902.
In Il statement issued by President
Thomas Crisis, the firm acknowledged
liabilities OF $3,0O0,000 The amount of
the assets is not yet determined.
Sympathy for Criss.
Much sympathy was expressed for Mr..
Criss on the exchange today 1t is said
brokers who refused to accept his pur-
chases Wednesday acted in bad faith
and probably will be required to recon
slider their action. Mr.. Crisis acted in
accordance with the usual practice of
the exchange in giving names of his
principals and it was Il matter of honor
for them to accept transactions made in
their name until proper notice that they
will no longer do SO is given to the trad
er on the floor The brokers' who refused
TO honor Mr.. Crisis purchases yesterday
were scored III many quarters and one
prominent banker said that the governors
would be derelict in their duty if they
did not compel them to accept the pur-
chases. They accepted Tuesdays trans
actions by Mr.. Crisis without any demur,
Firm May Not Be Involved.
CINCINNATI, O., Jan. 90. Nevin
Roberts of Roberts, Hall II Crisis, de-
clared that the firm is not involved in the
transactions which led to the suspension.
A ccording to Mr.. Roberts, Hugh f. Crisis
New York member of the firm, acting as
an individual broker, had executed or
ders for Il number Of 500share lots of
Columbus and Hooking coal and iron
stock following yesterdays collapse of
the pool in that stock
Roberts asserted that when Crisis sent
slips showing his executed orders to the
house that We're the real purchasers, the
deals were repudlated. He said that the
subject was then taken before the gov
errors of the exchange by Crisis.
Stock Market Uneasy.
NEW YORK, Jan. 2O.-The stock
market was still violently disturbed i'll
the early dealings today as IA sequel to
the crash i'll Hooking Coal Wednesday
and the financial embarrasSments which
that involved. Arrangements effected
over night affords hopes of avoiding
further trouble, and there was a rush
Of uncovered bears to cover their shorts,
which ran up opening prices in the gen
eral list. in some of the leading active
stocks between one and two points.
Another slump in Hooking Coal and
urgent liquidation in some other stocks
recently the center Of speculation I'M
settled the tone almost Immediately and
caused sharp reaction. Many of the
opening gains We're wiped out and frac-
tional losses established.
Chesapeake x Ohio was under special
pressure, and was forced down to 3lA
Rock Island also broke 21s. Hecking
Coal sold at the opening at %, yester-
days low price, compared with 80 the
last price of Wednesday, After the
opening today the price ran off to %
and rallied to %.
Money was freely offered at 4 per
cent.
The governors of the stock exchange
met today and had before them Hugh
f. Crisis. the broker who executed many
of the buying orders in Hooking Coal
stock Wednesday. There was no early
statement by the governors. but the
disputed contracts growing out Of the
Hooking Coal complications were be-
lieved to be under consideration.
Cotton Not Settled.
NEW YORK, Jan. 2O.-The recovery
of Wednesday was followed by Il renew
al of nervous excitement in the cotton
market today as a result of fresh liquida-
ton and because Of apprehension that
further difficulties might develop in stock
exchange circles.
The selling for long account was by no
meansf as heavy or as general as it had
been early in the week but three or four
houses with southern connections evil
IDENTITY had good deal of cotton to
liquidate and after an opening decline of
10 or 10 points. followed by a rally to
within two or three points Of Wednes-
day nights finals on arbitrage buying
the market had Il severe break. March
selling off to 1869 and May to 1880. or
Al to Al net lower.
The announcement Of the suspension
of a stock exchange house which held a
membership on the New York Cotton ex-
change, but which had no open trade in
the cotton market, seemed to clear the
atmosphere TO some extent and prices
rallied a few points from the lowest TO-