The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1839-07-25
CIRCULAR.
New ORLEANS, 25th May, 1889.

NEW ORLEANS, 25th May, 1889.
{ .GrAFTER the exposition made by NJ |
on the 1st July, 1887, Of the princles upon
which Ne had determined to conduct our bu-
siness, you will doubtless be as much sur 1
prised to be made aware of our suspension,
as we are mortified TO be obliged to confess
it. We think i, is due to you. as friendly
to our firm, and to our own character for in
tegrity and good faith, to make such expla-
nations, as will convince you that our en-
barrassmcnts originate from no other causes
than those, which, situated as we were, must
necessarily have actuated US; motives, 10
have yielded to which, may give cause to
impeacA our judgment, bat which should af-
feet us in no other light. For ne confidence
reposed in us from the origin Of our firm, we !
have to tender our warmest acknowledge
ments: it has more than fulfilled our antici-
pations, and to be insensibie to it, we should
be indeed ungrateful; nor do we for one mo-
ment permit the belief, that you will think
us Sour business has been Of the safest
character, and we question very much If We
shall eventually suffer the loss of one single.
dollar by it. The leading, and indeed, We
may say the only cause of our embarrass-
mcnts, may be found in the fact, that impel-
led by feeling of sympa by for Our senior
pdrtners and their endorsers, and unwilling
to see them constantly annoyed and hafras-
sed by the unsettled business Of our prede
cessors, the late firms OF BULLlTT, SHnr 81
Co., in .nis place, and or SnIrr, FERRmAY
g. Co., in Natchsz,1 we have imprudently
Iyielded to the suggestions of impulse, and
have advanced to these firms more largely
than we should have done. The amount
which we have thus locked UP; and entirely
unavailable mill The Coming sedsois, Is 81
little short Of $500, 600, which Is about equal|
to our Capital paid in and our profits:-W When
we take into considerations, the fact that our
profits have never been extracted from our
business, further than was necessary for our
: personal charges; we can safely assert, thit
the return of one hah Of the loan would harp
) placed us beyond the reach Of accident:
) During the seasons OF 1898, and 1882 Brt
LIT, SHIP & Co, have had agents CON
stantly employed in sDdeavorin9 to collect
TIE accounts outstanding in the upper coun-
e ties Of Mississippi: and Of the very large =
mount due there, il certainly vas not un-
n reasonable to SUPPOSE, that sufiEiency
e would have been obtained to enable item 70
; reimburse US in the amount nece5saft 70 ouI
d preservation. We have; kowevef; bund i
3, impossible 10 replace any portion dfthe larRl
st amount thus loaned, without stf0Reles am
r sacrifices, which, perhaps, 9iien have car
Y, ried US through, but which would casainly
s. in the other event, have. detiacted from ou
st ability to meet our own engagements. On
y der these circumstances We have adopted til
oI
A. to accomplish the epa we had in view, TIA
&c OF paying every one of our creditors in fUl
Give do not entertain doubt but that III
Q, coming season win enable us to liquidatl
h satisfactorily and cospletely every dem1k
re against us.-We have been thus candid o!
att explicit, because conscious ef no w1e& a
n tent, we have nothing which we could de
le sire to conceal. Looked upon u eir;cfl
80 mercantile point of view, We know that -
as are liable to blame; but tl1e error ~ afis&
leI from an oversanguine expectation 81 fsapin
sci sufficient from the means 6f l66 old 6fm {
1tfsepay sas. Tho people Of Mississippi hav
81 been so much pressed BY the coercion Of til
III law in favor of creditors, who were uuai
q, ling o. unable % defer their collections til
le they have not had it in their power to pa
those who have been less peritnptorv 10 the
Idemands.-W6 CANNOT co6cliide this circula
without repeating that We feel indehled % 81
friends fof tie dktire confidence which ths
=, have svhced in Nd and that we ehalf Ssia|
- our liabilities as quickly as poeeibI6; atth
re same time rsmarkihg, thaf al he aSetuess
las negotiation being closed - d ~ prc6
beg oar cseditbrs 10 VIII until ~ no4
ooginS 10 como into 1nSfk0 =
s. Wa are raGn4cfftlfV. - s.