gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
32180c481d7f43b5
Response Measures
None
Description
The firm was a brokerage house and private banking firm that failed due to market speculation losses, specifically a shortage on sugar stocks.
Events (1)
1.July 13, 1897Suspension
Cause
Bank Specific Adverse Info
Cause Details
The firm was on the wrong side of the market, specifically a shortage on sugar stocks.
Newspaper Excerpt
Decker, Howell & Co, bankers and brokers have assigned, with no preference. The liabilities are not stated. This firm was one of the largest brokerage houses in Wall street.
Source
newspapers
Newspaper Articles (10)
1.July 13, 1897Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
Click image to open full size in new tab
Article Text
Failure of Banking House. New York, July 13.-Decker, Howell & Co, bankers and brokers have assigned, with no preference. The liabilities are not stated. This firm was one of the largest brokerage houses in Wall street. The announcement was made on the stock exchange soon after opening, and created much excitement. The firm is one of the largest doing business on the street, and has conducted a purely brokerage business. The losses will fall on those who had specalative accounts with the firm. According to the assignee, the Decker firm has no creditors outside of New York. Decker said that be believed that the liabilities will prove small. There was no consternation in sugar, when the failure was announced. Opening at $1.34, after closing at $1.351/8 last evening, it declined to $1.34 on the sales of 5,000 shares, but soon rallied to $1.37 / 8 as a new record.
2.July 13, 1897Alexandria GazetteAlexandria, VA
Click image to open full size in new tab
Article Text
A Banking Firm Assigns. NEW YORK, July 13.-Decker, Howell and Company, bankers and brokers of this city, one of the largest brokerage houses on the street, have assigned with no preferences. The firm attributed the trouble to being on the wrong side of the market, their shortage on sugar be ing one of the principal elements. The losses will fall on those who have had speculative accounts with the firm, but it is believed that the liabilities will prove to be small. Five years ago this house failed for $12,000,000 but paid up within sixty days and resumed business.
3.July 14, 1897San Antonio Daily LightSan Antonio, TX
Click image to open full size in new tab
Article Text
BROKERS ASSIGN. New York, July 13.-Decker, Howell & Co., bankers and brokers of this city, have assigned with no preferences. Liabilities not stated. This firm was one of the largest brokerage houses in the city. A representative of the firm attributed the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000 but paid up within sixty days and resumed business.
4.July 14, 1897The Madison Daily LeaderMadison, SD
Click image to open full size in new tab
Article Text
Big Brokerage Firm Assigns. NEW YORK, July 14.-Decker, Howell & Co., bankers and brokers of this city, have assigned with no preferences. Liabilities not stated. The firm was one of the largest brokerage houses in the street.
5.July 14, 1897The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
Decker, Howell & Co. Assign. New York, July 13.-Decker, Howell & Co., bankers and brokers of this city, have assigned, with no preferences. Liabilities not stated. The firm was one of the largest brokerage houses in the street. A report of the firm attributed the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000 but paid up within 60 days and resumed business. The announcement was made on the stock exchange soon after the opening and created much excitement. The firm is one of the largest doing busines on the street and conducted a purely brokerage business. The losses will fall, on those who have had specu live accounts with the firm. Decker, Howell & Co., is peculiarly a local firm. It had a large clientage and, it is said, speculated heavily for its own account. According to Assignee Fisher the firm has no creditors outside of New York. It leased no private wires and had no agents or correspondents in other cities. Mr. Fisher added that he believed that the liabilities would prove to be small. There was no consternation in the sugar pit when the failure was announced. After opening at 134 after closing at 135½ last evening, it declined to 134 on sales of .5,000 shares.
6.July 14, 1897The Houston Daily PostHouston, TX
Click image to open full size in new tab
Article Text
HIDES, TALLOW AND BEESWAL I Prices paid by Houston dealersPer pound. Dry flint hides, selected 10 @114 Dry salied hides 7 @ 8 Wet salted, selected 6 Deer skins 12 @13 Tallow 2½ Beeswax 20 Brokers Assign. New York, July 13.--Decker. Howell & Co., bankers and brokers of this city, have assigned with no preferences. Liabilities are not stated. This firm was one of the largest brokerage houses in the city. A representative of the firm attributed the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000, but paid up within sixty days and resumed business.
7.July 15, 1897Delaware Gazette and State JournalWilmington, DE
Click image to open full size in new tab
Article Text
FAILURE IN NEW YORK. An Assignment Made by Decker, Howell & Co., Bankers and Brokers. New York, July 13, - Decker, Howell & Co., bankers and brokers of this city, have assigned with no preferences. The liabilities are not stated. This firm was one of the largest brokerage houses in Wall atreet. A representative of the firm: attributes the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000, but paid up within 60 days and resumed business.
8.July 16, 1897The Cambria FreemanEbensburg, PA
Click image to open full size in new tab
Article Text
Big Failure In New York. NEW YORK, July 14.-Decker, Howell & Co., bankers and brokers of this city, have assigned with no preferences. Liabilities not stated. This firm was one of the largest brokerage houses in the street. They failed for $12,000,000 three years agoand paid out in six months.
9.July 17, 1897Chicago EagleChicago, IL
Click image to open full size in new tab
Article Text
Athletes of the Diamond. Following is the standing of the clubs of the National Baseball League: W. L. W. L. Boston 46 19 Brooklyn ....31 36 Cincinnati ..48 20 Pittsburg ...30 35 Baltimore ...42 21 Chicago ....29 39 New York...38 25 Louisville ...26 38 Cleveland ...36 30 Washington. 25 39 Philadelphia 33 37 St. Louis....13 53 The showing of the members of the Western League is summarized below: W. L. W. L. Indianapolis. 46 23 Detroit ....35 38 St. Paul.....50 26 G'nd Rapids.24 47 Columbus ...45 24 Minneapolis. 24 51 Milwaukee ..46 28 Kansas City.21 54 Are Short on Sugar. Decker, Howell & Co., bankers and brokers of New York, have assigned. The firm was one of the largest brokerage houses in the street. A representative of the firm attributed the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000, but paid up within sixty days and resumed business.
10.July 22, 1897Eagle River ReviewEagle River, WI
Click image to open full size in new tab
Article Text
Are Short on Sugar. Decker, Howell & Co., bankers and brokers of New York, have assigned. The firm was one of the largest brokerage houses in the street. A representative of the firm attributed the trouble to being on the wrong side of the market, the firm's shortage on sugar being one of the principal elements. Five years ago this firm failed for $12,000,000, but paid up within sixty days and resumed business.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
