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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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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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BALTIMORE FIRM IN HANDS OF RECEIVERS McKim and Company Make Assignment to Wind Up Affairs. BALTIMORE, MD., July 1.-The banking and brokerage house of McKim & Co., 522 Park Avenue, this city, was placed in the hands of Charles Morris Howard as receiver to-day. Mr. Howard says he could not as yet give any figures as to liabilities, etc. Mr. Morris gave bonds for $300,000, which would seem to indicate that the liabilities were half the amount. Withdrawals of deposits and poor business, coupled with the desire of Hollins McKim, the chief partner, who is getting along in years, to retire from active business, was given as the reason for the action. Receiver Howard issued a statement in which he said: "It was deemed wise to wind up the business and this was considered the best way to do it. The move was not an antagonistic one, but 1 was made by the firm's assoclates and with the full concurrence of Mr. Hollins McKim. It is his capital that is really involved. In addition to the depressed conditions now prevalent in the financial world this bank had the handicap of having a large part of its capital locked up in real estate. This kind of capital is of course not readily available. Some of it 13 very valuable, and it is hoped that it can soon be marketed and that the affairs of the concern can be speedily liquidated." The assignment of the firm created considerable sentimental interest because of its old-established character, but in banking circles it was not regarded as showing weakness in any other quarter.
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BIG BROKERAGE FIRM IN RECEIVER'S HANDS By Associated Press. BALTIMORE, Md., July 1.-The banking and brokerage firm 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 of the liabilities. Mr. Howard gave bonds for $600,000, which would seem :- indicate that the liabilities were half that amount. Withdrawals of deposits and poor business coupled with the desire of Collins McKim, the chief partner, who is getting along in years, to retire from active business were given as the reason for the action.
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MERE-MENTION. By the collapse of a paint factory in course of construction at Cincinnati, Ohio, Tuesday, twelve people were killed and a number were seriously inTwo men and one woman jured were fatally hurt in a general fight in Knott county, Ky., Tuesday Two men were killed and a score of others were injured by a cave-in of the Pennsylvania railroad tunnel in ExNew York city Tuesday Governor Northern of Georgia, delivered the Fourth of July address at Montclair, N. J., yesterday. His subject was "The Problem of the Races." Two men were killed and fifteen persons were injured in the wreck of the Buffalo express at Sunbury, Pa., Street car emafternoon Tuesday ployees of Chicago, have been granted an increase of from 7 to 10 per cent Booker T. Washington in wages wanted to rent a summer home at Mamaroneck, L. I., but his real estate broker has been unable to find a house owner who is willing to rent his sumTen mer home to Washington Italian men and women have been indicted by the grand jury of New Orleans on the charge of kidnapping and murdering Walter Lamana, the Italian boy of New Orleans, who was first kidnapped and then murdered John D. Rockefeller is alleged to be dodging about New York, Connecticut and New Jersey in an automobile to evade Federal court process servers. Nazzaro, an Italian automobilist, covered a distance of 500 miles on French track Tuesday in six hours and forty-seven minutes. The race was witnessed by 200,000 people Jas. R. Duke, president of the American Tobacco company, and Mrs. William Inman, a society leader of Atlanta, Ga., are soon to be married in Hundreds of Armenians London are reported to have been killed by Turks in thé villages of Bittis and Van The during the past few days business of McKim & Co., the oldest private banking concern of Baltimore, having been in business since 1855, has been placed in the hands of a receiver. The strike of New York city street cleaners for an eight-hour day has been ended by the men going back The toto work on the old terms tal of National bank notes in circulation June 29, was $603,788,690, an increase over the previous year of $42,The coinage of the Unit676,330 ed States mints for the month of June, was 26,649,672 pieces, valued at $4,077,The railroads of the United 598 States made a gross gain of $258,000,000 income during the fiscal year ending June 30, over the preceding year. The new terminal station just opened at Birmingham, Ala., is said to be the handsomest in the south. The station cost $1,500,000, is 720 feet Chas. long and covers ten tracks P. Berwin of Burlington, N. J., recovered consciousness Monday after being The in a trance for four years New York Central railroad is now running its trains into and out of the Grand Central station, New York city, by electricity.
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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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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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BANK IN RECEIVER'S HANDS. Business Of McKim & Co. To Be Wound Up. Baltimore (Special).-The banking and brokerage house of McKim & Co., 522 Park Avenue, this city, was placed in the hands of Charles Morris Howard, as receiver. Mr. Howard said he could not give any figures as to liabilities, &c. Mr. Morris gave bond for $300,000, which would seem to indicate that the liabilities were half the amount. Withdrawals of deposits and poor business, 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 reasons for the action.
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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.