Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-02-27
p. X. Guthrie e Co.
Closes Its Doors
Continued from Pass Ono

the tickers. This is regarded as es-
tablishing a precedent for speedy action.
as In some other failures the quotations
have been shown on the tape for days
after the crash.
Guthrie formerly was member Of
the firm of Guthrie & McGovern and
was admitted to the Philadelphia Stock
Exchange November :, 1910. On
March / Of last year Guthrie began
business for himself.
AS the crash Of brokerage houses
here became almost daily occurrence
some patrons Of p. X. Guthrie &
Co. became dubious about the firms
strength. A withdrawal of sc. 900 by
suspicious client Is said to have has
tened the failure.
The firm was suspended from mem.
bership In the Philadelphia Stock Ex-
made public. Board clerks were. pre-.
pairing to begin business for the day in
the presence Of several unsuspecting
clients when another patron came In
and announced the assignment notice
had been posted on the door.
Patrick Burns and Thomas Murphy.
pookkeepers for the firm, did not come
to the Office this morning. 1t is not
known whether any books Of the con.
Cern ure missing.
Mrs. d. Clinton Guthrie. the youth
of the firm was traceable directly to
the series Of brokerage house crashes
here and in New York.
There was no taint Of crookedness
about my sons business" Mrs. Guthrie
declured. His firm failed because Of
the panic caused by other houses going
up. lie was the most economical boy
in the world. was unmarried and lived
with his father and me. He had no
motorcar and was In no way extrava-
giant. lle wouldn't even buy clothes
except when absolutely necessary"
Bankruptcy Action Taken
Bankruptcy proceedings were filed in
the Federal District Court today against
two other local brokerage firms.
Three customers Of Boureau & Evans
l3O South Fifteenth street, whose
members made an assignment for the
benefit Of creditors Saturday, to J.
Howard Patterson, an attorney, filed
involuntary bankruptcy proceedings
against the firm.
President Judge Thompson appointed
Harry Fischer. an attorney. ancillary
receiver in bankruptcy for Rodney s
Co.. brokers. who failed in New York
mcrly In Bellevue Court Building. The
receivers bond was fixed at $500.
The total liabilities of the firm are
estimated at $4,000. and assets OF
$50 900. The local visible assets are
approximately 525OO.
The creditors who filed the bank.
ruptcy suit against Bourenu 4 Evans
have claims aggregating $l447 represent
ing cash advanced and securities delly.
cred for marginal accounts.
Federal Judge Hand today refused the
application in New York of Elmore u,
Dier, formerly of u. y. Dier & Co.
bankrupt brokers', for an order restrain
ing District Attorney Banton from OBJ
timing the books of the company.
-Four more brokerage house failure,
occurred in Now York City TO-DAY
and they, with one other firm, were
suspended from trading. None Of tht
firms have offices in this city.
The Consolidated Stock Exchange q,
New York announced the suspension ri
Mnshcr 4 Wallace and Thomas n
Cowley. Of the firm Of Thomas n
Cowley & Co., Shcwry 4 FalkIorj
The New York Curb Exchange sms
pended Mosher & Wallace, Cowley 4
Co. and Q. II. Smith & Co.
\ short time after the suspension o.
Cowley g. Co. petition in banL,
ruptcy was filed IN Federal Court. Lin .
bilities We're estimated at 500, 900 anf
assets at $40, 600.
Later in the Federal Court a pc,i
tion In bankruptcy was filed agains,
Mosher Il Wallace. Liabilities Wa,
estimated AT $lI5,00O, while tho osset' ,
were not listed
Another petition was filed apo;,s,
Gamble & Yates. Creditors presento"
claims for S545O "'ee
\ petition in bankruptcy was file,
against Shewry n Falklnnd. Jiuhili
ties were said to be $50, 900. Asset.
. were not indicntcd