Bankruptcy
But his fall was as dramatic as his rise: in the years from 1888 to 1895, two of David and Louisa Denny's children died, and they suffered such a major financial reversal in the Panic of 1893 that they lost everything, including their nearly new mansion. Adding insult to injury, among the creditors who forced him into bankruptcy was Dexter Horton and Company, the bank where his brother Arthur was senior vice president. Their only salvation was that in their years of wealth, they had given their daughter Emily a tract of land in Licton Springs (in what is now northern Seattle), to which they now retreated.
Read more about this topic: David Denny
Famous quotes containing the word bankruptcy:
“A woman’s whole life is a history of the affections. The heart is her world: it is there her ambition strives for empire; it is there her avarice seeks for hidden treasures. She sends forth her sympathies on adventure; she embarks her whole soul on the traffic of affection; and if shipwrecked, her case is hopeless—for it is a bankruptcy of the heart.”
—Washington Irving (1783–1859)
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)
“The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into the heritage of Europe as though it were its patrimony—unaware, alas, of the fact that Europe’s declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty.”
—Hannah Arendt (1906–1975)