, 1873-12-30
Condition and Prospects of the
Firm.

yalno, and the percentage they arc likely to
renlize on thoir claims. a much larger number
houpo was favorito deposit bank for capital-
ists and business mon, md for pco-
plo OF moderate resources who had accu-
mulatcd small s,lms which they wished to
put BY In 2 aafc PLACE." very largo proportion
OF its liabilities nro to individual depositors and
mercantile and manufacturing firms. Tho Wash-
ington houso also did considerable deposit bus.
iness. chiefly, howoyor, with persons connoctcd
mover had lerge transactions with tho business
community Of that city. Tho Now York house
had yory extensive doa'ings with country banks,
and gloat share Of its liabilities are to these
institutions for balances 10 lts hands at tho
time Of suspension. Forty-aovon National Lanks,
II savings bnnks, and over 900 banking firms arc
among tts orodltora- Tho leases Of tile wash
ington house arc In snnl sums and do not mn
terialiy aloct tho business intorosts Of tho city
Tho principal members Of tho bankrupt firm
reside llore, md tho incrost in tue result Of tho
failure IL not only moro Intense in ths city than
elsewhere. but information with regard to 1t is
moro accurate and easy to obtain, Tho iccrco
Court for this district, so that tho settlomont Of
the uairs Of all throo of tho banking holBcs Of
tho firm must bo ma&o helo. The creditors arc
generally
SURPRISED At THE EXTENT OF THE LIABILITIES.
On the 9th Of September tho firm publIstad
statement in Which tho liabilities wero act down
at 81. .937 40o aud the estimated valuo Of tho as
nets, Including tho property of tho individual
,nollborB, At !s15s75,12o. The result. Of
mogS ag ,n ssr'fa tat, examination "a tna .; h1s bGGn @
Of tho account, aud TO shrink tho
other. Tho claims upon tho firm arc now stated
% follows: Philadelphia house. 99.40s, 40;
phtladclphia louao: secured. =, m, TIL; Now
total eo,s48, $50; individual liabilities, si,l60,-
5oG; grand totat, Oil ,oo5, ,750.
Tho number Of creditors is as follows; phi1n-
Washington house. Isl. The estimate v If ssses' 'sa
cato . little over s13,0oo,0o Of Which over
S3,8oo0 600 is the property OF tho individual
me@oors: mem II This item does not inclalo tho
stock. which will mako probably ovor. r.a5 600 900
in addition. OF tho firm assets, &0,O00,O00 in
round nnmbors ie in obligations Of the Northern
Pacific Natlroad compeny, principally notes for
deposit Of tho Compnty's bonds as eollnterals,
Or by certificates OF stock ct tho Oregon Steam
Navigation Company. There is also n
very large. amount Of other railroad
rior 4 mississippi Railroad figuring for 81, ,25l,-
000), beside miscellaneous stocks and bonds, and
Wcstoru lands, tho present worth Of which call-
not bo accurately nscortaincd.
Tho undetermined value Of tho assets of tho
firm makes tho creditors almost
AS UNCERTAIN AS EYER
about the worth Of their claims now that tho
statements have been furnished them. They
are however, uoqneetiouahly encouraged by the
prominent lawyer, who ia tho attorney for o
number OF claimants, snid ho did not belfovo the
estate would pay over 40 conts ou the dollar, aud
mon who estimated the dividend as high us 25
per cent wero spoken OF nj absurdlY Bauguino.
To-day therc arc plenty Of people who hope to
realize 80 per cont, but these are mon who do
not know tho flightful shrinkase an estimate is
subject to In going through the n.ill Of bank
ruptoy.
TIE bankrupt laws, like The hriers in the fablo
that tore the wool from the lamb. rob tie poor
debtor Of lis substance at every step Of his
nrogreaB. II the property OF the Cookies could
have leon put In the hands Of trustees and cato-
fully managed In tue interest Of creditors, tho
one can p,odict tho result. The principal crcd
itors, and in fact, nino-tenths Of NIL tho cred
itors, desired to Haro the firm from tho Bank
r11ptcy Court. But tho public was then 80 Bus.
tromo aud disastrous results Of Insolvency wero
denounced ~ evidences OF dishonest purposes.
The present pau Of tho large oreditors
hero is to try to avoid tho loss inseparablo
from M Immediate liquidation Of the estate by
trustee under tho forty-thirl section Of tho
Bankrupt law. This course must be asscntetl to
by two.tlirds Of the orcditora. 1t Is belIoyod
1nat tnere M MlA Do no trouble ~ getting Tug con,
nnt,'. nsnt " ~ 'se ugur aL 'uo Eonctai
4aogtt1S "a e1'o4'oia ~ 10 aele Aofe oh sao 4otA
" '"Aoass' .....-.....
THE MOST HAHaulNE MAN
~ Phlauoipilia w to the anal result Of tho 6et-
t!omcnt Of tue affairs Of Jay Cooke 4 Co. is by
al odd5 Alr. Jay COOKE himself. Ills bump OF
hopo'u!ncsa wonId aatoniEh q phren2loglst.. In
!he midst OF "Tock that IN TUG eyes OF others
is lrrosrleVao!o and appa'llng. he con-
tluues cheerful, and actually believes
hls firm WILL In tue cnd pay dollar
Tor dollar. II allowed to nlanage tho
assets, be shys ho could have realized hand
somo fortune after paying all liabilities. The
pnlattnl ba,lhing house OF tho tirn. IN, Third
street is still regularly opened every day. but tic
atmosphere of tho place seems heavy with dis
aster. Dust aceu1nulntos on tho massive wul-
nut conltcrs. There il no olink Of coin Or rustic
OF banS notes to bo hoard, or bustle OF borrow
e,s and lenders coming and golne. 4 fow ena-
ployes fa!ti, to the ast Hti haunt the place
occasionally \ friend OF one OF tho partners