, 1874-10-24
NEW YORK FAILURES.

Suspension OF tho Auction naotlso Of
Wslnncrslinn Il MNMnts-'Thu Clexh
Fnilnrc-Oahcr Eirnna E,nl,,rrn.sctI.
snte'at D'apattA 10 1Ae cateaao Tribune.
NEW 1onK, Oct. 23.--Tho failures which havo
boon snnouucod on Change here from DIV to
day begin to excito aomo apprehension among
tho tl'nid, but aound business men look upol,
thoso outbreaks ma tho legitimate postHorlpta of
tho Inst panic. Tho roasonB for them do not lio
doop. Men who woro embarrassed then, but
sl'ccocdcd III passng through tho crisis apparont-
u solvent, havo boon obliged to confoss thor
woakncss. Firms which fnilod during tho panlc,
and received MI extension, llnyo been uuablo to
meet their rapor, and thoir notos bavo agaiu
gono to protest. Mono Of tito failures have re-
Rnltod from transactions aatsa since last fall.
To-dAY's contribution TO tho blaol list ,sus tho
old auction commiBsion-houao Of
wlLMEnDl&d MOUNTS.
Tho firm once Stood at tho very top OF tho a,lc-
ton tiado., Tho explanation is tint thoy hhvo
oooh receiving conbign1nenrs Of n,olclIanliFo
upon which heavy advances wore required, aud
after Tho goods woro sold the paper Which waa
giVnn IL payment had to be guarnntocd by tho
auctloneors for consideration Of & per cent.
This IL always considered perilous busnous.
The assots ana liabilities aro unknown. An
The Boizuro OF the olco Of
HENRY CLEWs CO,
to-tlay by tho Sheriff surprised no one.
Louis L. Schneider recovered, Oct. O.
s7o5fs smfnt a oxssat'o ssatnss was e aoa f 5f 5SF
nothing was realized. Connaol for Schneider
then made nl1llnyt before Judge LAWRENCE that
tho firm had property Which they nnjnHtly re-
fuaod to arpiy towards tho satisfaction OF the
Judgment, and TINT ai, Assiguoe claims to be in
pos:ess'on* The affidavit goes on to Htnto TINT
after dark on OCT. a. dopouont found Alr.
Clows and his Assignee taking property from 11r.
Cows Bafo. julgo Lawrence granted tho order
for an examination Of Mr. CLOVIS. and an injunc.
orty, aud oraorod lilo shorlr 10 keep pos
session Of tho property. Tho examination
will bo held tomorrow. Amoug other oxcou-
tions against tho flr1n aro tho following First
National Bank, Of larrytown, N. T., &1.754.16 !;
Kanawha Valley Tank, s9,37s,G0 !; John D. uays
s9,a55.7y; Abram J. Doralo, 3l.1a9.G9; j. Burn,
*l,597.95; Raiph NJ. Go,irozand mud others,
s7.793.G9 in gold: md 81, ,937 in currency.
(1D tie Assncintfd F9tss.l
New YonE, Oct. 23.-l1r. Grant, Of tho loco
motive works at Paterson, N. T., Bnvs that his
1rm is III trouble but has not failed nor sus-
pended. Ho and his pnrtnor entered intua coll
tract With tho Russian Government involving
nearly 52,o00,00o, to furnish locomotives within
4 certain time. with heavy penaltica IN cass Of
their non-fultllInent, Tho iirm employed about
90v men on thb work, but found that rloy would
not DO abio to complete tt within tho time liul-
itod by tho contract. They had applied to tho
Russian Government for All extension, but tho
atlsNcr returned was oyasiyo nud 1,nHatssfactory
The penalty. if onforced. would amount to nbo,lt
$500, 900, md thoy did not feel justified in gong
OIL with tho work under tho contract viii, 80
groat risk hanging over them. Therefore they
lad been Obliged to or1or tho forcnlen to dis
charge tho worknlon Until further notice. A1r.
Grant proposes to atart for st. Petersburg Oh
Saturday. mud cndoayor to mako 4 compromise
WITH tho Russian authorities. aud thon proceed
with tho work.
Tho President Of tho Oriental Insurance Com
nany, of Jersey City. N. j., in H. card says that
the securities OF tho Company wcro sufficient to
commence buYiuosu nccor1ins to thp charter, but
sluce they huyo not proved satisiactory.to tho
Secretary Of State thoir business will he dihcou-
tinuod until the securities arc approved.
NOT CoRHECr.
Tho rumor Tint Tho well-Rnown firm Of Jcase
Hoyt d Co. haa failed Is authoritatiyely denied.