OCR Text |
Show i FAILURE OF A WALL STREET FIRM New York, Sept. 12. Tho suspension suspen-sion of Van Scalck & Co., mombors of tho acw York stock exchange, was . announced this morning on the ex-1 ex-1 change floor. , The fir inwas formed In 1907, and was composed of John B. Van Schalk, who was the board member, and Derby Der-by Crandall. The company has branch offices Jn New Jersey and Baltimore. Bal-timore. A representative of the firm said tho falluro was duo mainly to overextension over-extension of credit and the failure of customers to make good on marginal mar-ginal accounts. It was said tho Uablll-. Uablll-. ties would be under 51,000,000, and that the outstanding loans of about . $1,500,000 were al secured. The fail-. fail-. ure Is not regarded as Important. The assets of the firm are not known t "William H. Jacfeson, who was' shot ' by Paul Geldcl, was cashier of the i firm at the time of his death |