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BROKERAGE FIRM FAILS. H. B. Hollins and Company Suspended Today-Liabilities $5,000,000. New York, Nov. 13.-The suspension of H. B. Hollins & Company, a big banking and brokerage firm, was announced on the stock exchange this afternoon. The firm's liability is five million dollars, with assets of fifty thousand.
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New York, Nov. 13.-The suspension of H. B. Hollins & Co., the banking and brokerage firm was announced this afternoon. The firm, organized more than twenty years ago, was one of the best known in the financial district. It had large financial interests in Mexico and represented in this city several of the largest financial interests in that country. Henry B. Hollins, senior of the firm, was for years a business intimate of the late J. P. Morgan. Among his other business associates was William K. Vanderbilt, who was associated with the Hollins firm for some time in its Mexican enterprises. Liabilities Aggregate $5,000,000. An involuntary petition in bankruptcy was filed against the firm in the United States district court, after the suspension was announced, by three creditors with claims aggregating the nominal sum of $61,000. The petition sets forth that the firm's assets are more than $50,000. Creditors and counsel estimated the liabilities at about $5,000,000. A. Leo Everett was appointed receiver under a bond of $75,000.
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H. B. HOLLINS & CO. FAIL. Withdrawal of Large Deposits Impaired Capital of Firm. NEW YORK, Nov. 13-The suspension of the banking and brokerage firm of H. B. Hollins & Co., was announced on the stock exchange this afternoon. The failure is said to be due to the withdrawal of large deposits, impairing the capital of the firm.
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WELL KNOWN WALL STREET FIRM FAILS Involuntary Petition Against H. B. Hollins & Co. Is Filed New York, Nov. 13.-The suspension of H. B. Hollins & Co. a banking and brokerage firm, was announced on the stock exchange this afternoon. The from was organized more than twenty years ago, and was one of the best known in the financial district. It had large interests in Mexico and represented in this city several of the largest financial institutions in that country. Harry B. Hollins, senior member of the firm was for many years a close social and business intimate of the late J. P. Morgan. Among his other business intimates was William K. Vanderbilt. An involuntary petition in bankruptcy was filed against the firm in the United states district court after its suspension by three creditors, with claims aggregating the nominal sums of $661. The petition set forth that the firm's liabilities were five millions, and assets fifty thousand dollars. The petition stated that the failure was due to the withdrawal of large deposits. A Lee Everett was appointed receiver.
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H. B. Hollins & Co. Face Liabilities of Five Millions. TOTAL ASSETS $50,000 Withdrawal of Large Deposits Assigned as Reason for the Collapse of Firm. New York, Nov. 13.-Suspension of the H. B. Hollins & Co., banking and brokerage firm, was announced on the stock exchange this afternoon. The firm organized more than 20 years ago, was one of the best known in the financial district, had large interests in Mexico and represented in this city several of the largest financial institutions in that country. Harry B. Hollins, senior member of the firm, many years was a close social and business intimate of the late J. P. Morgan. Among other business intimates was William K. Vanderbilt. An involuntary petition in bankruptcy was filed against the firm in the United States district court, after-the suspension, by three creditors with claims aggregating the nominal sum of $661. The petition set forth that the firm's liabilities are $5,000,000 with assets of $50,000. The petition stated the failure was due to withdrawal of large deposits. A. Leo Evitt as appointed receiver.
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WALL STREET FIRM FAILS FOR MILLIONS or NEW YORK, Nov. 14.-H. B. Hollins & Co., an old banking and brokerage house of this city announced its suspension when the stock exchange opened this morning. The liabilities were listed at $5,000,000, with assets of $2,000,000. The failure is attributed to the inactivity of the stock market for several months past.
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WELL KNOWN BANKING FIRM OF NEW YORK FAILS H. B. Hollins & Co. in BankWithruptey - Heavy drawals Believed Responsible New York, November 13.-The failure of H. B. Hollins & Co., an old established banking and brokerage house with international connections, was announced simultaneously today on the stock exchange and in the United States district court. An involuntary petition in bankruptcy against the firm had been filed in the court. Liabilities are estimated at $5,000,000 with assets, mostly bank loans, of from $2,500,000 to $3,000,000 The firm was established over 20 years ago, but recently underwent several changes in personnel. Harry B. Hollins, the senior member, was a business associate of the late J. P. Morgan. William K. Vanderbilt was also at one time identified with the firm in its outside enterprises. Mr. Hollins' partners include N. Bush, the board member, and Walter Kutzleb, for some years the manager in this country of the RussoChinese bank. Heavy Withdrawals Responsible According to the firm's lawyers, the failure was precipitated by the withdrawal of some large deposits, which seriously reduced its working capital. At one time Hollins & Co. had extensive interests in Mexico and represented in this country the National Bank of Mexico and the International Mortgage Bank of Mexico City. These connections were severed some years ago. The firm also was interested in some of the former subsidiaries of the American Tobacco company, including the Havana Tobacco company. Hollins &' Co. participated in the preliminary negotiations of the socalled six-power group of bankers which contemplated the issuance of a large loan to the Chinese government. This project was abandoned after the advent of the Wilson administration, which announced its opposition to the plan. The difficulties of the firm are believed to date back to the panic of 1907, at which time they were burdened with a number of unportitable properties, including the Cincinnati, Hamilton and Dayton and Pere Marquette railroads and the Chicago Railways company. The railroad properties were later taken over by J. P. Morgan Co. On the stock exchange it was understood that the firm had closed out its few remaining contracts or commitments a few days ago. In fact, some (Continued on Page Eight)
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OLD LINE BANK CRUSHED IN RUIN New York, Nov. 13.-The failure of H. B. Hollins & Co., an old established banking and brokerage house. with international connections, was announced simultaneously on the stock exchange and in the United States district court. An involuntary petition in bankruptcy against the firm was filed in the court. Liabilities were estimated at $5,000,000, with assets mostly bank loans from $2,500,000 to $3,000,000. According to the firm's lawyers, the failure was precipitated by the withdrawal of some large deposits which reduced its working capital. The firm was established over 20 years ago, and recently underwent a change in its personnel. Harry B. Hollins, senior member of the firm, was a business associate of the late J. Pierpont Morgan.
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BIG BROKERAGE FIRM SUSPENDS NEW YORK, Nov. 14.-The suspension of H. B. Hollins & Co., the banking and brokerage firm, was announced on the stock exchange this afternoon, The firm's liabilities are $5,000,000, with assets of $50,000.
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NEW YORK BANK FAILURE STATED Big House of H. B. Hollins and Company Collapses and Reciever Appointed. New York, Nov. 13---The suspension of H. B. Hollins & Company, an old and well known banking and brokerage firm, was announced on the stock exchange. Involuntary bankruptcy was also-filed against the firm in a federal court petition stating that the liabilities at five milion dollars with assets of fifty thousand. The firm has large interests 11) Mexico and represented in New York several of the largest financial institutions of that country. A. Leo Everett was appointed receiver.
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LARGE BANKERS FAIL. Receiver for H. B. Hollins & Co. of New New York-Liabilities, $5,000,000. New York, Nov. 14.-The suspension of H. B. Hollins & Co., the banking and brokerage firm, was announced on the stock exchange yesterday afternoon. The firm organized more than twenty years ago, was one of the best known in the financial district. It had large interests in Mexico and represented in this city several of the largest financial institutions of that country. Harry B. Hollins, senior member of the firm; was for many years a close social and business intimate of the late J. P. Morgan. Among his other business intimates was William K. Vanderbilt, who was associated with the Hollins firm for some time in its Mexican enterprises. The firm was organized on Oct. 1, 1892, and maintains a branch office at Berlin. An involuntary petition in bankruptcy was filed against the firm in the United States district court shortly after the suspension was announced, by three creditors with claims aggregating the nominal sum of $661. The petition set forth that the firm's liabilities amounted to $5,000,000 with assets of some $50,000. The petition further set forth that the failure was due to the withdrawal of large deposits which impaired the firm's capital. A. Leo Everett was appointed receiver under a bond of $75,000.
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Vanderbilt, who was associated with the Hollins firm for some time in its Mexican erterprise. An involuntary petition in bankruptcy was filed against the firm in the United States district court shortly after the suspension was announced by three creditors with claims ag. gregating the nominal sum of $661. The petition set forth that the firm's liabilities amounted to $5,000,000, with assets of $50,000. The petition stated that the failure was due to the withdrawal of large deposits which impaired the firm's capital. A. Loo Everett was appointed received urder a bond of $75,000. The firm of H. B. Hollins & Co. was composed of Harry B. Hollins, Bernard J. Burke, Briton N. Busch and Rafael R. Govin. Mr. Busch was the board member of the firm. The firm was organized on Oct. 1, 1892, and maintains a branch office at Berlin. Mr. Hollins is prominent socially and a member of many clubs. Recently he leased his Fifth avenue house to Mrs. John Astor.
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BIG BROKERAGE HOUSE SUSPENDS Receivers Appointed for H. B. Hollins & Co.-Liabilities Estimated at $6,000,000. New York, Nov. 13.-Announcement of the suspension of the firm of H. B. Hollins & Co., bankers and brokers, was made today. At the same time today a petition in bankruptcy was filed in United States District Court against the head of the firm, Harry B. Hollins. The failure of Hollins & Co. is the most important that has been recorded in financial circles in several years. The assets of the firm were placed nominally at $50,000. The liabilities are about $4,500,000. A. Leo Everett was appointed receiver.
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Germans Involved. BERLIN, Nov. 14.-The failure in New York of the banking and brokerage firm of H. B. Hollins & Co. was without serious effect on the Berlin bourse. Germans, however, were considerably involved by the suspension of the firm. Several Berlin and provincial bankers maintained stock engagements with the house and had corresponding margins there
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STOCK EXCHANGE FIRM FAILS. Assets of Hollins & Co. $50,000, with Liabilities of $5,000,000. New York, Nov. 13.-The suspension of H. B. Hollins & Co., the banking and brokerage firm, was announced on the stock exchange this afternoon. The firm, organized more than 20 years ago, was one of the best known in the financial district. It had large interests in Mexico and represented in this city several of the largest financial institutions of that country. Harry B. Hollins, senior member of the firm, was for many years a close social business intimate of the late J. P. Morgan. Assets Only $50,000. An involuntary petition in bankruptey was filed against the firm after the suspension was announced, by three creditors with claims aggregating $661. The petition set forth that the firm's liabilities amounted to $5,000,000, with assets of some $50,000. The petition stated that the failure was due to the withdrawal of large deposits which impaired the firm's capital.
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Brokerage Firm Suspends. New York, Nov. 14.-The suspension of H. B. Hollins & Co., the banking and brokerage firm, is announced on 1 the Stock Exchange.
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We're in Midst of Great Changes, Which Will Eventually Mean Prosperity," Declares N. Y. Financier INDUSTRIES GETTING USED TO NEW TARIFF Big Trust Company Official Visits Detroit to Attend State Y. M. C. A. Meeting No serious financial troubles can be seen by William M. Kingsley, vicepresident of the United States Trust Co., of New York, and chairman of the New York state committee of the Y. M. C. A., who was the guest of the Michigan Y. M. C. A. executive committee, Thursday. "Our troubles in New York are largely concerned with a slump in the real estate market-you can't even give real estate away, nowadays-and with unsettled conditions on Wall-st. In Y. M. C. A. work, we're bothered with an attempt to raise $4,000,000. I dan see $3,000,000 of it, but hanged If can figure where we're going to get the extra million." Mr. Kingsley didn't a- oar excited about it. He smiled quietly and talked quietly. He didn't bluster about a dark outlook, and on the other hand he didn't talk in large terms about a utopian era of prosperity. "We've come through many situations that were harder than this," he said "The country can be trusted to face the emergency. "The eastern situation does not seem to have spread into the west, and I hope it will not. I should say that the depression in New England is due primarily to the tariff. and next to the unsettled condition due to the currency bill. with the president's contemplated action against the trusts as a third factor. The tariff has unsettled a great many industries, which are gradually getting used to the new schedules. Of course, the tariff action was foreseen, and the companies concerned had a good deal of time to prepare for the new situation: and this was a good thing. "The general effect of the depression has been to remove from the market a great many securities with which the market was overloaded. forchants and manufacturers are paying closer attention to their finances: here are fewer short-time loans: there a general contraction of credit. "his, in the long run, will be good the country. "I look for the currency bill, in tever form it passes, to cause a porary contraction of circulation alle the reserves of the regional are being built up. That. at is the fear generally expressed, congress and bankers are at work rying to safeguard matters until the banks are established, and situation may not become very are in the midst of many great far-reaching changes. and we are very well. under the circumWe cannot be said to have in the midst of great prosperity these changes have been conlate! and planned, but when they once established, they certainly are tht to pave the way for a very prosous era. The failure of H. B. Hollins & Co. lid not cause much excitement, be. it was not unexpected. The had interests in Cuba and which were not rezarded as promising. It did very little busithe street. so the stock mar-
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of the Panama canal opened by explosion of dynamite, letting the waters of the ocean into the Miraflores locks. SEPTEMBER. 2 Roland Garros, French aviator, flew across the Mediterranean sea from St. Raphael, France, to Bizerta, north Africa, 468 miles, in 8 hours; average speed about 58 miles. 2 21 persons killed and over 40 injured in a collision on the New York, New Haven and Hartford near New Haven. Conn. 9. Zeppelin airship L No. 1 wrecked by a hurricane over the North sea; 15 drowned. 10 Monument commemorating Commodore Oliver Hazard Perry's naval victory over the British fleet Sept. 10, 1813, unveiled on Put-in-Bay island, Lake Erie. Harry K. Thaw deported from Canada across the Vermont border near Norton Mills. OCTOBER. 12. 18 balloons, including the Uncle Sam and the Goodyear from the United States, started from Paris in a race for the Gordon Bennett cup. Eight countries represented. 14. The first vessels lifted into the Pacific entrance of the Panama canal. The American balloon Goodyear landed at Bridlington, England, winning the Gordon Bennett cup: distance traveled from the starting point, Paris, 550 miles: time 44 hours. 17. A Zeppelin dirigible balloon exploded when 3,000 feet in the air at Johannisthal, Prussia, killing 28 passengers, including 5 members of the admiralty commission. 19. In a wreck on the Mobile and Ohio railroad at Bucatunna, Miss., 45 soldiers of the coast artillery were killed and 100 Injured. 22. 263 miners killed by explosion in the Stag Canyon mines, New Mexico. NOVEMBER. 14. H. B. Hollins & Co., noted banking house, New York, failed: liabilities estimated at $5,000,000: assets $50,000. 17. Steam tug Louise carried an official party through the Panama canal from ocean to ocean. 28. New York Real Estate Securities company failed, having liabilities of about $16,000,000. DECEMBER. 6. Gatun dam completed in the Panama canal. 8. Centenary of Holland's revolt against Napoleon Bonaparte celebrated. 10. New York, New Haven and Hartford railroad suspended payment of dividends. 12. The "Mona Lisa," celebrated Da Vinci painting that was stolen from the Louvre, Paris, in 1911. reported found in Florence, Italy. 31. United States commerce court ended by congressional enactment.
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of the Panama canal opened by explosion of dynamite, letting the waters of the ocean into the Miraflores locks. SEPTEMBER. 2 Roland Garros, French aviator, flew across the Mediterranean sea from St. Raphael, France, to Bizerta, north Africa, 468 miles, in 8 hours; average speed about 58 miles. 2 21 persons killed and over 40 injured in a collision on the New York, New Haven and Hartford near New Haven, Conn. 9. Zeppelin airship L No. 1 wrecked by a hurricane over the North sea; 15 drowned. 10. Monument commemorating Commodore Oliver Hazard Perry's naval victory over the British fleet Sept. 10, 1813, unveiled on Put-in-Bay island, Lake Erie. Harry K. Thaw deported from Canada across the Vermont border near Norton Mills. OCTOBER. 12. 18 balloons, including the Uncle Sam and the Goodyear from the United States, started from Paris in a race for the Gordon Bennett cup. Eight countries represented. 14. The first vessels lifted into the Pacific entrance of the Panama canal. The American balloon Goodyear landed at Bridlington, England, winning the Gordon Bennett cup; distance traveled from the starting point, Paris, 550 miles; time 44 hours. 17. A Zeppelin dirigible balloon exploded when 3,000 feet in the air at Johannisthal, Prussia, killing 28 passengers, including 5 members of the admiralty commission. 19. In a wreck on the Mobile and Ohio railroad at Bucatunna, Miss., 45 soldiers of the coast artillery were killed and 100 injured. 22. 263 miners killed by explosion in the Stag Canyon mines, New Mexico. NOVEMBER. 14. H. B. Hollins & Co., noted banking house, New York, failed; liabilities estimated at $5,000,000; assets $50,000. 17. Steam tug Louise carried an official party through the Panama canal from ocean to ocean. 28. New York Real Estate Securities company failed, having liabilities of about $16,000,000. DECEMBER. 6. Gatun dam completed in the Panama canal. 8. Centenary of Holland's revolt against Napoleon Bonaparte celebrated. 10. New York, New Haven and Hartford railroad suspended payment of dividends. 12. The "Mona Lisa," celebrated Da Vinci painting that was stolen from the Louvre, Paris, in 1911, reported found in Florence, Italy. 31. United States commerce court ended by congressional enactment.
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in the streets. H. K. Thaw. 31. The Pacific end of the Panama canal opened by explosion of dynamite, letting the waters of the ocean into the Miraflores locks. SEPTEMBER. 2. Roland Garros, French aviator, flew across the Mediterranean sea from St. Raphael, France, to Bizerta, north Africa, 468 miles, in 8 hours; average speed about 58 miles. 2. 21 persons killed and over 40 injured in a collision on the New York, New Haven and Hartford near New Haven, Conn. 9. Zeppelin airship L No. 1 wrecked by a hurricane over the North sea; 15 drowned. 10. Monument commemorating Commodore Oliver Hazard Perry's naval victory over the British fleet Sept. 10, 1813, unveiled on Put-in-Bay island, Lake Erie. Harry K. Thaw deported from Canada across the Vermont border near Norton Mills. OCTOBER. 12. 18 balloons, including the Uncle Sam and the Goodyear from the United States, started from Paris in a race for the Gordon Bennett cup. Eight countries represented. 14. The first vessels lifted into the Pacific entrance of the Panama canal. The American balloon Goodyear landed at Bridlington, England, winning the Gordon Bennett cup; distance traveled from the starting point, Paris, 550 miles; time 44 hours. 17. A Zeppelin dirigible balloon exploded when 3,000 feet in the air at Johannisthal, Prussia, killing 28 passengers, including 5 members of the admiralty commission. 19. In a wreck on the Mobile and Ohio railroad at Bucatunna, Miss., 45 soldiers of the coast artillery were killed and 100 injured. 22. 263 miners killed by explosion in the Stag Canyon mines, New Mexico. NOVEMBER. 14. H. B. Hollins & Co., noted banking house, New York, failed; liabilities estimated at $5,000,000; assets $50,000. 17. Steam tug Louise carried an official party through the Panama canal from ocean to ocean. 28. New York Real Estate Securities company failed, having liabilities of about $16,000,000. DECEMBER. 6. Gatun dam completed in the Panama canal. 8. Centenary of Holland's revolt against Napoleon Bonaparte celebrated. 10. New York, New Haven and Hartford railroad suspended payment of dividends. 12. The "Mona Lisa," celebrated Da Vinci painting that was stolen from the Louvre, Paris, in 1911, reported found in Florence. Italy. 31. United States commerce court ended by congressional enactment.
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19. In a wreck on the Mobile and Ohio railroad at Bucatunna, Miss., 45 soldiers of the coast artillery were killed and 100 injured. 22. 263 miners killed by explosion in the Stag Canyon mines, New Mexico. NOVEMBER 14. H. B. Hollins & Co., noted banking house, New York, failed: liabilities estimated at $5,000,000; assets $50,000. 17. Steam tug Louise carried an official party through the Panama canal from ocean to ocean. 28. New York Real Estate Securities company failed, having liabilities of about $16,000,000. DECEMBER. 6. Gatun dam completed in the Panama canal. 8. Centenary of Holland's revolt against Napoleon Bonaparte celebrated. 10. New York, New Haven and Hartford railroad suspended payment of dividends. 12. The "Mona Lisa," celebrated Da Vinci painting that was stolen from the Louvre, Paris, in 1911, reported found in Florence, Italy. 31. United States commerce court ended by congressional enactment.
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OUT OF BANKRUPTCY. Hollins Pays His Debts After Failing for $5,000,000. Upon the petition of attorneys for Harry B. Hollins, head of the defunct banking firm of H. B. Hollins & Co., Federal District Judge Mayer to-day dismissed the petition in bankruptcy filed against Hollins in 1913, when his liabilities were stated at more than $5,000,000. The Hollins firm is liquidating Its liabilities by means of the composition plan recently approved by the United States Courts and Hollins says he has settled all his personal debts. Acting on this information, Judge Mayer discharged the receiver. Among the chief creditors named against Hollins in the petition were the estate of J. P. Morgan, Consuelo, Dowager Duchess of Manchester, and W. K. Vanderbilt. His personal liabilities were given as $1,111,093. He had assets of $980,000, but he turned them in to help pay up the debts of the banking firm.