Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-20
FILE PETITION
IN BANKRUPTCY
AGAINST D. c. FIRM
Moorhead & EImore, Stock
Brokers, in Financial
Difficulties.

Frank B. CroSthwaite, Stanton j.
Peelle and Howard r. Watkins,
creditors of A. Robert Elmore and
Harry r Duryee, trading as Moor
head & Elmore, stock brokers, at 1416
District Supreme Court to adjudge the
firm bankrupt. The court is told,
through Attorneys Hoehling, Peelle &
Ogilby. that the brokers are insolvent
and that they admitted in writing to-
day their inability to pay their debts
and their willingness to be adjudged
bankrupt.
The petitioning creditors have
claims aggregating $500. In addi-
ton Mr.. Crosthwaite claims 1920 in
liberty bonds and twenty shares of
common stock left with the firm for
safekeeping. The total assets and
liabilities of the firm are not stated.
The firms admission as to it's finan-
cial condition was filed with the petit
ton of the creditors.
Wade H. Ellis, counsel for the firm,
said today that he was confident his
client would pay 100 cents on the dol
lar, provided the liquidation was
properly conducted. In this view of
the situation "A. Robert Elmore of
the firm concurred. e;
Firm Organized Five Years Ago.
The firm Of ,Moorhead & Elmore
was organized some Eve years ago
with ]. Upshar Moorhead and 4.
1sssest 8 E@96 6fhxa Il partners; : n.as... They
in thG Be sepett of1ces of 729 18th
street, and liter purchased the build
Ing ana lot. 1416 H street northwest,
establishing themselves in one of the
most pretentlous brokerage offices in
the city. using the entire building.
Last year. In common with all other
brokerage housess in the security
business, the nrm made large profits.
Mr.. Moorhead died about a year ago,
victim Of influenza. Henry r.
Duryee was then admitted to the firm
1t is understood that Mr.. Elmore
in a number of under
writings that did not prove successful
and that he took quite a block of the
notes of the Washington-Vir-
gifia Railway Company
Mr. Gilmore has spent some weeks
in California.
Financial Troubles known.
For month or more it has been
known in financial circles that the firm
was In trouble. but 1t was also reported
that Messrs. Goodbody & Co. of New
York were negotiating for the absorption
OF tne urn to avoid suspension. Later
they abandoned negotiations.
Saturday last affairs reached an
acute stage and an effort was made to
enlist local security and financial inter-
est In a movement to save the firm, with
the result that thorough investigation
into the affairs Of the firm was made,
but the parties interested could not see
their way clear to intervene.
The assets will include the build
ing, which cost the firm bout $4,000
and is said to be salable at or near
$l5o,00o, and an equity. amount not
known, in a seat on the New York
Stock Exchange.
Few Investors Affected.
1t is not thought that many in
vestors or traders will be affected, as
the matter of the condition has been
more or less of an open secret for
some time. New York correspondents
may be involved to some extent, as
it is understood Goodbody & Co. have
taken over a very large trading ac-
count.
Both Messrs. Moorhead and Elmore
enlisted in 1913, but did not get to
France.