H. L. Evans & Company (Wilmington, DE)

Episode Information

Episode UID
3614759291274
Episode Type
Suspension → Closure
Bank Type
investment
Bank ID
361475929 hash
Start Date
February 15, 1906
Location
Wilmington, Delaware (39.746, -75.547)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0e1f0506adbcf2a3

Response Measures

None

Description

Firm made an assignment and was adjudicated bankrupt with a receiver appointed.

Events (2)
1. February 15, 1906 Other
Newspaper Excerpt
The failure of H. L. Evans & Co., bankers and brokers, in this city, was announced to-day. Wilmington, Del., Feb. 15.-The failure of H. L. Evans & Co., bankers and brokers, in this city, was announced to-day.
Source
newspapers
2. March 10, 1906 Receivership
Newspaper Excerpt
Judge Bradford appointed Thomas F. Bayard receiver.
Source
newspapers

Newspaper Articles (2)
1. February 16, 1906 New-York Tribune New York, NY
Article from New-York Tribune, February 16, 1906

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Article Text

BROKERS FAIL FOR $300,000. Wilmington Firm's Assets Put at $100,000-Speculation Alleged. [By Telegraph to The Tribune.] Wilmington, Del., Feb. 15.-The failure of H. L. Evans & Co., bankers and brokers, in this city, was announced to-day. The liabilities exceed $300,000. The assets are said to be about $100,000. Unfortunate investments and speculation on the part of the firm are given as the causes of the failure. The firm, which was one of the leading brokerage houses in Wilmington, comprises Henry L. Evans and his brother, John H. Evans. The failure was not made known until the close of the stock market, when it was announced that H. L. Evans and his wife, Mrs. May Evans, and John H. Evans had assigned all of their real and personal holdings to John H. Danby. Financial institutions in Wilmington hold the firm's paper to the total amount of $100,000. The largest liabilities are the accounts of customers, they ranging from $100 to $25,000. James W. Ponder, attorney for the firm, made a statement to-night in which he said the firm lost heavily through the failure of customers to make good their accounts.

2. March 10, 1906 Every Evening, Wilmington Daily Commercial Wilmington, DE
Article from Every Evening, Wilmington Daily Commercial, March 10, 1906

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Article Text

SECOND EDITION EVANS & CO. LITIGATION The Firm's Attorney Decides Not to Resist the Bankruptcy Proceedings. ADJUDICATION OFOLLOW Likely to be Thrown Into Bankruptcy Next Monday. NO PAPERS WERE FILED TODAY The Last Opportunity for Opposing the Motion. THE ASSIGNEESHIP MAY TERMINATE The firm of H. L. Evans & Co., bankers and brokers, who, about a month ago, made an assignment, naming John H. Danby as the assignee, will, in all probability, be adjudicated an involuntary bankrupt in the United States Court on Monday, and Thomas F. Bayard, as receiver in bankruptcy, will continue to have charge of the affairs of the company until the creditors select a trustee. The petition a sking the court to adjudicate the firm a bankrupt, was filed early last week by C.L. Ward and David J. Reinhardt, counsel for several creditors. Today was the last day for counsel for the company to file papers setting out any objections to such a proceeding. No papers were filed and when H. H. Ward, counsel for Evans & Co., was seen early this afternoon, in regard to the matter, he stated that he had decided to let the proceedings against the firm go by default and therefore the adjudication will, most likely, take place on Monday. The first of this week Messrs. Ward and Reinhardt, representing Isaac C. Elliott, a creditor to the extent of $4,500, asked the court that a receiver be appointed to take charge of the affairs of the company until the bankruptcy petition was disposed of. Judge Bradford appointed Thomas F. Bayard receiver. After the firm has been adjudicated a bankrupt it will be required to file a schedule, which will be a list of the liabilities and assets. This will probably take some days, and after that is done the creditors will hold a meeting and elect a trustee to take charge of the firm's affairs. A large amount of bonds and stocks belonging to the company are said to be advertised for sale on Tuesday. Some action may be taken on Monday to restrain the sale.