New-York tribune., 1873-12-19
A NEW COMMERCIAL FAILURE.
SHE SUSPENSION or A BOSTON HOUSE EMPHArl
CAILY DENIED.

,nR SUSPENSION or A BOSTON HOUSE EMIHAll-
CAILY DENIED.
Mcssrs Wight q Tllinghast, dry goods com
mission merchants OF Nos 81 and 9s Franklnst. in
formed their creditors yesterday OF their inability to
meet their maturing obligations. The following state
rnent is by member the firm: The affair is suspen
on by the loss Of credit occasioned by the fa
nre Of MesSrs A. W. spraCue & Co. OF Providence '"
spracue of the latter firm being special partner to the
amount of $4,000 in the firm OF Wight TiliDghasT
The last mentioned firm was organized on the let OF
January. 1874 with capital Of t25o@o Tne firm IS not
position far 10 give even general dea OF el'ne
thelr assets liabilities.
The firm Of Edison Bradley & Co, whose failure was
announced Yesterday is still awaiting the decision OF
Eve Of US principal creditors This committee will
probably report next week. The firm has transacted
great deal Of business in small amounts mainly with
Southern and Western Teaers well as with those IN
New-EURland.
The business was conducted very cautiously the firm
nsnaliy making three notes OF three. four and Ave
months each in OF large sales TO country merchants
The effect OF the panic their customers has been such
compel suspension IN some instances and IN others
forth requests FOR extension OF time on these
notes. As their own bills falling due this month
The pressure somewhat stringent and the hrm felt
that put themselves at once in the hands
az their than 10 exhaust their resources snd
sssets IN desperate attempt 10 continue business
Their sssets, IL available would be enough 10 cover
al their liabilities, bnt While the STOCKS ana
bonds they hold suffer from shrInkage, their
srconnts against Southern and Western custom
.rs are doubtful. 1t is very difficult con-
seauently estimate the real value Of the assets on
hand The committee OF creditors represent only largo
wbolesae houses from whom jobbers usually purchase
Mr. Bradley OF the firm stated yesterday that he was
content 10 ABIDE by any decision the committee might
arrive at
Nothing additional obtained Yesterday In refer
epee 10 the house OF West Can, Whittemore Co. Tne
creditors. committee still investigating their affairs
and will probably soon prepare statement OF their
dition. The committee in charge Of Oberhalzer 4
Eeeyers affairs continued their Investigations hut held
meeting Yesterday and are not YET prepared 10 make
report.
Early IN the day yesterday report was circulated
that large goods commission house or Denny,
Poor n Co. No Broadway had failed. This house
has q Boston and It's connections with various
mill interests in NewEDgand are SO extensive that MS
failure would be very widespread in Its influence The
rufnor occasioned some excitement, but was promptly
contradiced obtained little credence prominent
banser on heing told of the report Yesterday
instantly that he would he willing TO ouy *OO OF tner
It was sad by those familiar with the business Of
rm that they had little paper maturing at pres
enI, and had large surplus capital when they mad
been emp ing in assisting their neigh
bors who were 10 want of money. TRIBUNE reporter
inquired al the couniingroO OF Denny, Poor TO- IN
,efarerre 70 tbe rumOr and was told by member OF
the rth fnat and they had no idea where
could have originated. The reporter was furhef tod
that the danger 10 dry goods houses al the present Time
II true that JoDDers mad ald
in FAN stock before the panic came on ana without
any ANTICIPATION OF IT, but the best houses made tew
on -four months Domestic goods and cOttons
generally purchased on J0or 60 days notes, wool
beng generally bought on four mOnths those VINO
have paper falling due al the present time have had am
Die time preparation. and have had the advantage OF
the yeriod o reaction whcn followed the panic Money
bar since then flowed freely into the West and South IN
large quaBtities gram and cotton, aud coec-
Icue from both sections have been good for
next few weeks Ssuld be sufficiently large TO create
sry noteworthy dBurbance IN the dry goods trade