8358. E. N. Morrison & Co. (Baltimore, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
January 25, 1904
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
628bcb16

Response Measures

None

Description

Multiple contemporaneous articles (Jan 25–26, 1904) report receivers were appointed for the banking and brokerage firm E. N. Morrison & Co.; failure attributed to heavy cotton losses. No articles describe a depositor run prior to suspension; firm went into receivership (permanent closure).

Events (2)
1. January 25, 1904 Receivership
Newspaper Excerpt
Receivers were appointed today for the banking and brokerage firm of E. N. Morrison & Co. The resources of the house had been wiped out by losses on cotton.
Source
newspapers
2. January 25, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Resources wiped out by losses on cotton after covering customers' margin accounts; liabilities $500,000–$600,000.
Newspaper Excerpt
Receivers were appointed today for the banking and brokerage firm of E. N. Morrison & Co.
Source
newspapers

Newspaper Articles (12)
1. January 25, 1904 Evening Star Washington, DC
Article from Evening Star, January 25, 1904

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Article Text

BALTIMORE FIRM FAILS. E. N. Morrison & Co. Caught on Short Side in Cotton. BALTIMORE, January 25.-Receivers were appointed today for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. E. N. Morrison, the head of the firm. made a statement today that the resources of the house had been wiped out by losses on cotton. He said: "We took over a number of accounts for customers who were unable to make good their margins, and the continuous rise in the price of cotton resulted in heavy losses in covering these accounts." The liabilities of the firm are placed between $500,000 and $600,000. N. H. Morrison of the firm of E. N. Morrison & Co. recently sold his seat on the New York stock exchange to Daniel J. Sully, the cotton speculator.

2. January 25, 1904 The Providence News Providence, RI
Article from The Providence News, January 25, 1904

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Article Text

BANKERS FAIL. One of Firm Recently Sold His Seat on Stock Exchange to Daniel J. Sully. Baltimore, Md., Jan. 25.-The failure of the brokerage and banking firm of E. N. Merrison was announced today, the doors of the establishment being closed. A statement of the causes which made a suspension necessary has not been made by the firm, but is being prepared. N. H. Morrison of the firm of E. N. Morrison & Co., brokers, of Baltimore, recently sold his seat on the New York stock exchange to Daniel J. Sully, the cotton speculator.

3. January 26, 1904 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, January 26, 1904

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Article Text

Brokerage Firm Fails. Baltimore, Jan. 25.-The failure of the brokerage and banking firm of E. N. Morrison & Co., was announced today, the doors of the establishment being closed. A statement of the cause which made a suspension necessary has not been made by the firm, but is being prepared.

4. January 26, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, January 26, 1904

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Article Text

WERE BEARS WHEN THEY SHOULD HAVE BEEN BULLS. E. N. Morrison & Co. of Baltimore Owe Their Failure to Cotton. Baltimore, Jan. 25.-Receivers were appointed to-day for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several davs. E. N. Morrison, the head of the firm, made a statement to-day that the resources of the house had been wiped out by losses on cotton. He said: "We, took over a number of accounts for customers, who were unable to make good their margins, and the continuous rise in the price of cotton resulted in heavy losses in covering these accounts." The liabilities of the firm are placed at between $500,000 and $600,000.

5. January 26, 1904 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 26, 1904

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Article Text

BALTIMORE BANKING FIRM HAS SUSPENDED BALTIMORE, Jan. 25.-Receivers were appointed to-day for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. E. N. Morrison, the head of the firm, made a statement to-day that the resources of the house had been wiped out by losses on cotton. He said: "We took over a number of accounts for customers who were unable to make good their margins, and the continuous rise in the price of cotton resulted in heavy losses in covering these accounts." The liabilities are placed between $500,000 and $600,000. NEW YORK, Jan. 25.-N. H. Morrison, of the firm of E. N. Morrison & Co., brokers, of Baltimore, whose suspension was announced to-day, recently sold his seat on the New York Stock Exchange to Daniel J. Sully, the chief cotton speculator in the recent corner.

6. January 27, 1904 Watertown Republican Watertown, WI
Article from Watertown Republican, January 27, 1904

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Article Text

FAILURE OF BANK FIRM AT BALTIMORE. Losses in Cotton Have Wiped Out the Resources of the House-Liabilities May Reach $600,000. Baltimore, Md., Jan. 25.-Receivers were appointed today for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. E. N. Morrison, the head of the firm, made a statement today that the resources of the house had been wiped out by losses on cotton. He said: We took over a number of accounts for customers who were unable to make good their margins and the continuous rise in the price of cotton resulted in heavy losses in covering these accounts. The liabilities of the firm are placed between $500,000 and $600,000.

7. January 28, 1904 The Hope Pioneer Hope, ND
Article from The Hope Pioneer, January 28, 1904

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Article Text

Brokers Fail. Baltimore, Md., Jan. 26.-Receivers have been appointed for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. The liabilities of the firm are placed between $500,000 and $600,000.

8. January 28, 1904 Courier Democrat Langdon, ND
Article from Courier Democrat, January 28, 1904

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Article Text

HALF MILLION LIABILITIES. Receivers Appointed for Baltimore Brokerage Firm. Baltimore, Jan. 26.-Receivers have been appointed for the banking and brokerage firm of E. N. Morrison & 6. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. The liabilities of the firm.are placed between $500,000 and $600,000.

9. January 28, 1904 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, January 28, 1904

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Article Text

Brokers Fail. Baltimore, Md., Jan. 26.-Receivers have been appointed for the banking and brokerage firm of E. N. "Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. The liabilities of the firm are placed between $500,000 and $600,000.

10. January 28, 1904 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, January 28, 1904

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Article Text

Brokers Fail. Baltimore, Md., Jan. 26.-Receivers have been appointed for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. The liabilities of the firm are placed between $500,000 and $600,000.

11. January 28, 1904 Warren Sheaf Warren, MN
Article from Warren Sheaf, January 28, 1904

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Article Text

Brokers Fail. Baltimore, Md., Jan. 26.-Receivers have been appointed for the banking and brokerage firm of E. N. Morrison & Co. The failure was not a surprise in financial circles here, as the embarrassment of the firm had been known for several days. The liabilities of the firm are placed between $500,000 and $600,000.

12. January 29, 1904 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 29, 1904

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Article Text

killed her. Fire at Brazil, Ind., destroyed the Knight block in the center of the business district and did $50,000 damage. The water mains burst and help was asked from Terre Haute. Hundreds of citizens formed a bucket brigade and notwithstanding the intense cold fought the fire successfully. Receivers have been appointed for the banking and brokerage firm of E. N. Morrison & Co., of Baltimore. E. N. Morrison, the head of the firm, said the resources of the house had been wiped out by losses on cotton. Three boys, Myron Aldrich, aged 14; Lowell Ellis, aged 13, and William Denton, aged 15, have been arrested at Las Vegas, N. M., having confessed to wrecking a Denver & Rio Grande freight train at Florence, Col., January 10. The boys said they were after the passenger train, which was late, and intended to rob the dead and injured passengers. Since 1890 four banking institutions at Nashua, N. H., have closed their doors, and banks in several neighboring towns have been forced to suspend, chiefly through losses sustained in investments in the western states. It is estimated that within ten years, citizens of Nashua have lost $2,000,000 through the embarrassment of banking institutions. On the 25th the senate passed a number of bills on the caleadar. The house passed the army appropriation bill.