New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-10
NEW xORKs
Suspension of the Warehouse and Eeeas
ritS COmpRnys

Suspension of the Warehouse 8EA SePHs
city Companys
New York. september gs~Ys appears
that the erouble in the New Ioqk Wareo
house and Security Company arose from dw,o
lations with two OF its directors Francis
Skiddy, importers of Ne. IOa Wall street.
and Shepherd Candy, OF No. 60 Wal2 street,
both heavy sugar importers They were
directors Of the New York Warehouse and
Security Company and alsU directors of
the Missouri, Kansas and Texas Railroad
Company, now in course of construction.
They had invested so heavily IN fhis aoad
and elsewhere that their large resources
and excellent credit could not carry them
throughs and they therefore obtained loans
from the Security Company og stock and
bonds OF the latter and other coqporasOnsO
The Warehouse and Security Companyo
however, had large amount Of paper ~
circulation, which was abouS fpaSUIee ana
unless some of the loans which st lad made
to Messrs. Skiddy & GandS were Sasen up,
they could not meet their obligations
Frequent consultations were hadS iyut witho
out satisfactory gesults, as She aisordered
condition Of the money fnaraea and the
fact that Kansas Missouri Snd Texas see
curtfes were not negotiable in Wall street
precludes making loans iD other and less
partial quarters "A meeting of directors
hado therefore, been called yesterday morne
ing, and it was gesOlved 30 suspend tempee
rarilv, and call meeting ot Che ereditoSs
on Thursday to take action IN the mattero
Francis Skiddy is the head Of she firm OF
Skiddy, MUnford & Coz et NO. S0s Wall
street, who are among the heaviest jmpogso
ers in this cityo Mro SkiddT has been ideno
tilted with the steamboat SailrOad and
other interests for many years. and his has
always been q good .name fog financial
strength
Sheppard Candy Is member OF the firm
of Sheppard Candy & Co, OF Noe so Wall
street. Neither Of these houses base suso
pended as yet.
director of the New York Warehouse
Company states the companys assets are
about $3.50, ESQ., but does not know how
much Of this is in the form of unpaid loans.
The liabilities are Sl3, 100000. The Mis-
souri, Kansas and Texas railroad owes the
company 81 100000, cne-haf of which was
secured by bonds of the road and notes of
land grants to the railway and trust com
pany and the other halt by the personal
guarantee of five of the railway directors
Two of these were Skiddy and Candy
directors also of the warehouse company.
The notes Of the land grants of the rail-
way company of which Skiddy is the presi-
dent he considered to be good. The ware
house company also made loan OF $1,000
900 to the New Orleans, Mobile and Texas
railroad, not yet completed. The loan ma
tured last spring, and has not yet been paid,
but is secured by personal guarantees. A
loan was also made TO the Wisconsin rail
road, amounting to 50,000o which loan was
coed, though not yet matured.
The same was true Of several OSheF rail
roads. Whether the suspension OF the
warehouse company b9 tempory or6inal de
pends entirely on the decision OF Its credit
Ors.
Susan Coates. the Baby qarmeso was Co.
day released on bale tw9 pb5SicGaSS sestp
flying she did no wrong.
The President Invited to Attend 9he SYexis
can War Celebratione
Commodore Meade and other officers a9Is
tied the President day with an invitation
to join them in celebrating the anniversary
Of the capture Of the City of Mexico
An Appeal tor Aid.
An appeal for aid for the destitute who
were burned out of their homes by Che
Plaza Vapor fire, which involved loss of
$4,000, 900, has been made by Alexander
& Sons. owners Of the Havana steamship
line, of this city. The firm was to-day ap-
pealed to by telegram from Havana. the
dispatch stating there is great destitution
there.
Suits Against the Erie Railroad.
1t is stated that number of suits by Jay
Gould will soon be brought againt the Erie
sonally, for alleged illegal acts done in con-
dends.
New York County Affairs.
Controller Gceea has communicated to