The New York herald., 1873-12-10
ALLEGED INSOLVENCY OF HOWES
& MACY.
A Petition In Bankruptcy Fiicd-Indebt-
edness, SI,237.OOO.

A Petition In Bankruptcy FiIcd-Indebt-
edness, S1,237 900.
petition has been filed in the United States District
Court by Aonzo Morgan of Long Island City, TO have
Howes Macy bankers OF Wall street, declared bank
rupts This petition placed file Saturday last
but al knowledge of its contents the that such
document in existence, Kept until yesterday
by the officials the the reporters attend
Apce tbereat. omittng tho legal verbiage much
possible, give below the leading and important
features OF the paper
TIE PETITION.
The petition Of Aionso R MORGAN Of Long Island City.
Reuben W Howes and Charles A. Macy, Composing the @
May 81 TG5k under T n
law and that she nature Of his demand as
city and that about the h Of September 1873 Morgan
nm agreed S e
g aIgsn upon den demand and that at the latter about me
Macy nsglested omitted M and refused 70 pay the same
e s'ss 1s as se ssa @
, ns sss ns swss a.
insolvent and unable to pay their just debts OBJ
he at
@ ne nd na m q pay sy ys we dep 6s
and received the money for the purpose Of appreprians
%sSsiensa transasoa they took and 5seeysd various
e an ad Sdspo ro % s
their own use and that in this manner they became the
Morgan and others Of their creditors and customers at
wRsa s 10 e asr S saH sGqG and
UNABLE TO PAY THEIR nRBrs
Fl Sn s ns sna @ i
ss Macy aeSnt s aa
aHa
e hinder Se OF the sans
ruptcy law, ffauduenty stopped and suspended pay.
% 9 Tor @ naae na a
Mated aSG1s snS e esareS sh q S R BY nSes
value and numerous others Of ike or similar charsc
MA! i: $ PIsssd
ad e Ge' Of e S s
ness and Obligations 81 the firm. The petitioner repre-
as = pssica ao@es
nser R hsy opped sG @ Of e their ssR
commercial paper-namely, certiicates OF deposit or
a5ye sSe, sRdeS Ind iS e 4
HSSss SS snS SaS.se
n: ssas s' ap %s ..sasn sae ss 9
months next preceding The date of the ng same
. wit, on na the ION day q SSysmSsr sf being
Suspended and have not Of sr sna
%sfeiai paper within period y i days@ln this
payment q the note certificate above referred TO-
o the @ wn as m pa a mot nG
ever since stopped and suspended and have resumed
therefore prsys that Howes Macy may be declared
sion Of their estate, and hat the may be distributed
according 10 law.
DEPOSITION As ALLEGED BANKRUPTCY
The deposition Of Alfred P chapn states that he has
mentioned creditor, against Howes Macy; that de pom
ents firm OF Logan a Chaplin were depositors and are
1creiors oil Howes Macy that the oath OF september
l1A howes Macy stopped and suspended payment of
beir 10 various creditors numbering de-
further says that Howes Macy admitted 10 him
their inability TO pay their debts and have publicly
stated ana represented under their hands Inability
and have made different offers OF Compromise
making payment in part OF their indebtedness; but
that such compromise have yet been accepted by
the creditors OF the hrm that by the public and
ktatements OF Howes Macy, and OF q commIttee of
their creditors made after examination OF the books OF
accounts affairs OF the nrm by the COMMITTEE Il ap
ONE MILLION rwo HUNDRED AND raIRrr-sEvxS THOUSAND
DOLLARS.
and that the assets of the firm amount only the sum OF
$3.50 600 in that the individual the bank
Macy TO only the sum OF ISL 900 and that there ae
cheney OF assets OF the frm amounting to the sum OF
several hundred thousand dollars; that il 40.
pears BY the books OF the bankrupts aud by
their public statements that they received deposits from
asous creditors u 20 about not quite The day q
sucn deposits were received by the bankrupt from the
creditors without the latter having been made by
the Danupts OF their nsolvent condition that In this
manned As deponent Is informed and believes the bank
Possessed ofmany thousands OF dollars from
oreoiiors with the intention and purpose ofsp-
ptopfAung the same TO their and account
ing TOT ~ m pursuance the terms the contract
unaeI wnien they were deposited, and the deponent
SI.evnes 'nere was an understanding and agreement
nm Tn. "esg sd sums rs should be payable on demand
rtturnsDie on Saturday next, before Judge Batchord
IN the United States District Court.