Article Text
Brokerage Firm Fails
Baltimore, July 1.-The banking and brokerage house of McKim & Co. was placed in the hands of a receiver today. No statement as to liabilities and assets has been announced.
Mckim & Company (Baltimore, MD)
Episode Information
- Episode Type
- Run → Suspension → Closure
- Start Date
- July 1, 1907
- Location
- Baltimore, Maryland (39.290, -76.612)
- Bank Type
- private
Metadata
Notes
The suspension was triggered by a combination of deposit withdrawals and the illiquidity of assets (real estate) during a period of poor business.
Events (3)
1.
July 1, 1907
Run
- Cause Details
- Withdrawals of deposits combined with poor business and illiquid real estate investments.
- Newspaper Excerpt
- Withdrawals of deposits and poor bustness, coupled with the desire of Hollins McKim... to retire from active business, were given as the reason for the action.
- Source
- newspapers
2.
July 1, 1907
Suspension
- Cause Details
- Withdrawals of deposits and inability to realize on real estate investments led to the appointment of a receiver.
- Newspaper Excerpt
- The banking and brokerage house of McKim & Co. was placed in the hands of a receiver today.
- Source
- newspapers
3.
July 1, 1907
Receivership
- Newspaper Excerpt
- The banking and brokerage house of McKim & Co., at No. 522 Park avenue, this city, was placed in the hands of Charles Morrls Howard as receiver to-day.
- Source
- newspapers
Newspaper Articles (11)
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Article Text
Receiver in Charge
Baltimore, July 1.-The banking and brokerage house of McKim & Co of this city was placed in the hands of a receiver, Charles Howard, today. who furnished bonds of $300,000. It is not known how much the liabilities are.
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Article Text
Big Firm Fails Baltimore, Md., July 1.-The banking and brokerage firm of McKim & Co., 622 Park avenue, this city, was placed in the hands of Charles Morris Howard as receiver today. Mr. Howard said he could not as yet give any figures as to liabilities, etc.
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Baltimore Brokers Fail
Baltimore, Md., July 1.-The banking and brokerage house of McKim & Co., was placed in the hands of Charles Morris Howard, as receiver today. Mr. Howard said he could not as yet give any figures as to the liabilities, etc.
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Article Text
RECEIVER FOR BALTIMORE BROKER
Suspension of Banking House of McKim & Co. Announced. Baltimore, July 1-The banking and brokerage house of McKim & Co., at No. 522 Park avenue, this city, was placed in the hands of Charles Morrls Howard as receiver to-day. Mr. Howard said he could not as yet give any figures as to liabilities. S. Sterrett McKim, one of the members of the firm, is vice-president of the Baltimore Stock Exchange. Although the appointment of a receiver for the firm was known on the exchange, it was not officially announced until a few minutes before the closing. The publication of the condition of the firm aroused little interest on the floor. Mr. Howard gave bonds for $300,000. which would seem to indicate that the liabilities were half the amount. Withdrawals of deposits and poor bustness, coupled with the desire of Hollins McKim, the chief partner, who is getting along in years, to retire from active business, were given as the reason for the action. The house was established in 1852. It is composed of Hollins McKim, E. A. Betsworth and S. Sterrett McKim. The assignment was not regarded as showing weakness in any other quarter. The concern had not embarked in any new enterprises for several years, it was said. It was set forth in the petition for a receiver that the firm's capital was largely invested in real estate in Baltimore city and county, some of which was unimproved and could not be readily realized upon.
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McKim & Co
's Settlement. BALTIMORE, July 6.-Charles Morris Howard, who was on Monday last appointed receiver for the banking and brokerage firm of McKim & Co., made a statement today in which he says that after going over the books of the firm he is satisfied that all creditors will be paid in full, and that there will in all probability be a comfortable surplus.
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Article Text
According to a statement made by the receiver for McKim & Co., bankers and brokers, of Baltimore, the assets of the firm are sufficient to pay dollar for dollar to the creditors of the concern, and it is probable there will be a small balance over.
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McKim & Co
Fail. The failure is announced of McKim & Co., of Baltimore, the oldest private banking house in Maryland. Charles Morris Howard was appointed receiver and gave a bond for $300,000.
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Baltimore Bank Goes Under
The banking and brokerage house of McKim & Co., 522 Park avenue, Baltimore, was placed in the hands of Charles Morris Howard as receiver the other day. Mr. Howard said he could not as yet give any figures as to liabilities. The receiver gave bonds for $300,000, which would seem to indicate that the liabilities were half the amount.
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Article Text
McKim & Co
Fail. The failure is announced of McKim & Co., of Baltimore, the oldest private banking house in Maryland. Charles Morris Howard was appointed receiver and gave a bond for $300,000.
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Article Text
McKim & Co
Fail. The failure is announced of McKim & Co., of Baltimore, the oldest private banking house in Maryland. Charles Morris Howard was appointed receiver and gave a bond for $300,000.