Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-10
The Security Company Suspen-
sion 81, 100000 Capital and
el,3OO,OOO of Liabilities
The Trouble Only
Temporary.
The FOrgeries Of johnson and
Yates Perfectly Appalling
Jay Gould and Erie
Fearful Accident.
The Catholic Church and the War
on the Public SchOOls-The
State Bank Of New
Brunswick.
THE WAREHOUSE AND SECURITY COM


THE WAREHOUSE AND SECURITY COM
PAEY.
New YORK, September 9.-It is re-
ported that the troubles Of the ware
house and security company are due to
its relations with some of its directors.
Francis Skiddy and Shepherd Candy,
both very heavy sugar importers, were
directors of the New York warehouse
aud security company, and also directors
of the Missouri, Kansas and Texas rail-
way company, now in course Of con-
struction. Skiddy and Candy obtained
loans from the security company, which
had, besides, large amount of paper in
circulation about to mature, and unless
some Of the loans which it had made
to Skiddy and Candy were taken up,
the company could not meet its Obliga-
tiOns, aud was thus forced to suspend
and await the action of creditors. On
Thursday the warehouse company's
claim of extension was granted. 1t will
be able to pay its Indebtedness dollar
for dollar. The secretary of the Kan
sas, Missouri and Texas railroad said
the company had not gone to protest;
that its coupons had been and would be
paid. The company was under no OBJ
legations to the warehouse and security
company, and the Tumor that there
were any relations between them prob
ably arose from the fact that two prom
inent directors of the warehouse COM
pany were embarrassed. Francis Skiddy
had been identified with the steamboat
railroad and other interests for many
years past, and has always borne good
name for financial strength. Neither
Skeddy nor Candy have suspended yet,
both houses being largely engaged in
the commission business. 1t Is believed
the losses will fall mainly upon Havana
merchants and Cuban planters. Mr..
Guion, a director of the New York ware
house and security company, says the
assets of the company amount to about
3 $50, 900; liabilities, 1900 900. The
Missouri, Kansas and Texas railroad
owed the company Sl,000,0OO, One-hali
Of which was secured by bonds
of the road, and notes of migrant OF
the railway and trust company, and the
other half by personal guarantee Of five
of the railway directors. Guion thought
that the loan, which will mature next
month, will be good within a year at
least. The warehouse company also
made loan of 500, 600 to the New Or
leans, Mobile and Texas railroad, whose
road is not completed. This loan ma
tured last spring and remains unpaid,
but it is secured by personal guaranty OF
two persons connected with the road,
and Guion believed that the warehouse
company would eventually obtain
the money. He further said that the
company made lean Of $50, 600 to the
West Wisconsin railroad, which is Sc
cured by bonds of the road and personal
guaranty, and one of its officers said
this loan was good, but had not matured,
and the same was true Of loans made to
several other railroad comp anies, whose
names he could not remember. Guion
was unable to say whether the suspen-
sion of the warehouse company would
be temporary or final, remarking that
this would depend entirely upon the de-
cisiOn of its directors,
JOHNSON AND YATES, THE FORGERs.
Another attempt was made to-day to
have johnson and Yates, indicted for
completely in the recent bond forgeries,
admitted to bail, and in the course of
argument against the motion, the assist
ant-district- attorney said 1t was decided
not to proceed with these cases before
the magistrate. The ramificatious of
these forgeries are so extensive that it is
expected they will appall the commu-
nifty.
ROMAN CATHOLIC PAROCHIAL SCHOOL
TEACHERS.
Rev. Brother Jasper, of the Catholic
order of Christian Brothers, arrived yes
terday with twenty-four young men be-
longing to the society who have been
educated to serve as teachers in the
Roman Catholic parochial schools, about
to be established throughout the United
States. Ten more young men of the
same society are expected, and Mr.. Jas
per has fifty in all on his list. Thirty
seven came to this country last year for
this purpose.
FEARFOL ACCIDENT.
While the seventy-frst regiment was
parading through Fourth street, Will
liamsburg, this morning, a balcony
crowded with people suddenly broke
down, and all were precipitated to the
earth. One person was killed and tif-
teen more or less severely injured.
J. C. AFTER THE ERIE COMPANY.
1t is stated that number of suits, in
spired by Jay Gould, will soon be brought
against the Erie company, and the di-
rectors personally, for alleged illegal acts
done in connection with the recent
declaration of dividends.
GOING FOR JoHNsoN's EFFECTS.
Clement Ritter, one of the brokers
who suffered by the recent bond forger-
les, this morning attached twenty-five
l,,,,Irol o,J fe.xy 1OIIors danocifod hy-
James w. johnson, as trustee, in the
name of his mother.
THE CATHOLIC TOTAL ABSTINENCE
UNION.
The annual session OF the Catholic
total abstinence union of America
and board of government was
held to-day at Plympton hall.
Rsv. James McDevitt presided. Reso-
lutions were passed recommending 3
new form of pledge, ordering the
national union badge to be re-
quired by all societies for their
members, and decreeing that the badge
shall be token of friendship wherever
worn on this continent. Communica-
tions from clergymen in Ireland looking
to the union with societies there, were
acted upon. A committee is to prepare
plans for the October general conven-
ton.
THE STATE BANK OF NEW BRUNSWICK,
NEW JERSEY,
The Express says relative to the mis-
use of money of the State bank Of New
Brunswick, New jersey: 1.-The report
is now that not only the entire surplus
but capital, and even more, is exhausted
by loans made to the carpet company,
and further that securities or loans will
not reach over One-half of the balance
of the money loaned by the officers in
charge"