William G. Hopper & Company (Philadelphia, PA)

Episode Information

Episode UID
8020802891152
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
802080289 hash
Start Date
December 24, 1895
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6c8719ad42cbae97

Response Measures

None

Description

Firm made an assignment to Walter Godley; failure attributed to prior New York market panic.

Events (1)
1. December 24, 1895 Suspension
Cause
Macro News
Cause Details
Failure described as a direct result of last week's panic in the New York stock market.
Newspaper Excerpt
William G. Hopper & Co., bankers and brokers, made an assignment to-day.
Source
newspapers

Newspaper Articles (4)
1. December 25, 1895 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 25, 1895

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Article Text

American Railroads Recover in London, Lodon, Decmeebr 24.-The stock market opened quiet but firm. The settlement in the mining stocks began today. American railroads were firm and the dealings were nominal. The other stocks recoevred by noon were all railroads were better and the general aspect was quieter. As compared with yesterday's quotations consols at 12.30 this afternoon were up 9-16 for money and 1-2 for the account Stocks showed gains ranging to 4 1-2. In Boston. Boston, December 24.-The Boston Clearing House Association at a" special meeting today voted that clearing house certificates be issued to any of the banks that may apply for them. The certificates will bear 7 3-10 per cent interest. Another Assignment. Philadelphia, December 24.-William G. Hopper & Co., bankers and brokers, as. signed today as a result of last week's panic in New York. The firm has been in business 20 years and has a high reputation in financial circles.

2. December 25, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 25, 1895

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Article Text

Business Failures. New York, Dec. 24.-J. B. Bennett, of Brooklyn, has been appointed receiver of the Rockaway Electric Light Company. The liabilities are $100,000, assets $150,000. Chancellor MeGill, of Jersey City, has appointed Thomas C. Reneger temporary receiver for the St. James hotel of this city. The stockholders are ordered by the chancellor to appear before him January 6 and show cause why the receivership should not be continued. The liabilitles are: Furniture $25,000, book accounts $40,000, mortgage on furniture $40,000, attachments $11,000, outstanding debts $28,000. Philadelphia, Dec. 24.-William G. and H. S. Hopper, trading as William G. Hopper & Co., bankers and brokers, failed today. The firm declines to give any statement, but the liabilities will probably be heavy, as they did a big business.

3. December 25, 1895 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, December 25, 1895

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Article Text

FAILED AT PHILADELPHIA. Brokers Went Under as a Result of the Flurry. PHILADELPHIA, PA., Dec. 24.-William G. Hopper & Co., bankers and brokers at 26 South Third street, made an assignment to-day. Neither the firm nor the assignee is prepared to make any statement concerning the failnre, except that it is a direct result of last week's panic in the New York stock market. The failure had no effect upon the local stock market, and it is believed, although no figures are yet obtainable, that the assets will not be greatly exceeded by the liabilities.

4. December 25, 1895 New-York Tribune New York, NY
Article from New-York Tribune, December 25, 1895

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Article Text

A FAILURE IN PHILADELPHIA. ASSIGNMENT OF* WILLIAM G. HOPPER & CO.CLEARING-HOUSE CERTIFICATES AUTHORIZED. Philadelphia, Dec. 24.-William G. Hopper & Co., bankers and brokers at No. 28 South Third-st., made an assignment to-day to Walter Godley. Neither the firm nor the assignee is prepared to make any statement concerning the failure, except that it is a direct result of last week's panic in the New-York stock market. The firm has been in business for more than twenty years, and has always enjoyed a high reputation in financial circles. The failure had no effect on the local stock market, and it is believed, although no figures are yet obtainable, that the liabilities will not greatly exceed the assets. The local banks will lose no money by reason of the assignment. The firm consists of William G. and H. S. Hopper, both of whom are members of the Philadelphia Stock Exchange. The firm's New-York business is transacted through the firm of Bickley, Keech & Wood. The Philadelphia Clearing House Association today authorized the issue of Clearing-House certificates to any banks which may desire to make use of them. No certificates were taken out to-day, and it is not believed that any of the local banks will ask for them unless the financial situation changes considerably for the worse. The committee's action was taken merely as a precautionary measure, and is in line with similar action on the part of the New-York and Boston associations. The local money market is firm, but there is plenty of money to be had on call at 4½ per cent, and on time at 6 per cent. There are no indications of any undue stringency. The only previous occasions on which certificates were issued by the Philadelphia association were during the panics of 1873, 1890 and 1893.