New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-11
THE LATEST FAILURES.

CONDITION or ARCHIBALD BAXTER cos. AFFAIRS
MORE HoPEFUI--PRosPECT OF ALBERT l.
pODGE's CREDITORS.
Information was received yesterday morning
BY the suspended firm Of Archibald Baxter Co. at NO.
IL Broadway from the Liverpool house of Baxter stecd
man Co.. OF which Archibald Baxter is partner that
the latter firm will be Obliged to suspend or account
OF the failure of the American house. Mr. Baxter was
In his Office early yesterday morning AID expressed great
satisfaction the receipt OF this news and also Ne
cause the market IN Liverpool rmer and the grain
belonging TO the firm, which had just reached that city,
had been sold at advance over former quotations.
He also confirmed the statement published yesterday
that the failure OF the firm would not compel the Inter
national Packing Company of brooklyn of which he sthe
President and large stakeholder, TO discontinue bus
meas II explanation of the attachment against his
property In Brooklyn mentioned in TBE TRIBUNE yester
day he said that the counsel for the plaintiffs had maze
foolish mistake, he had before made an assignment
of everything he in favor OF all his creditors
This however was probably not known to the counsel
t the time and they since abandoned the matter
The OF the two cargoes OF wheat and corn WHICH
was made on Saturday evening by A. f. Kent CO. mas
been abandoned also and the cargOes have gone forward
Dwight johnson. the assignee, stated to THE TRIBUNE
reporter that if the English market should continue to
be favorable for few weeks as reported yesterday
morning he had little doubt that the firm would very
be able to relieve itself OF present enbarassmen.s
and business again 1t is impossible at present.
ne said 10 tell Just what the liabilities are, but the total
will probably come somewhere between 100000 and
S35OOOO The amount cannot be known definitely until
abe shipments grain that have been made shall have
time arrive sold The transactions of the nr
last Saturday amounted TO $4,000 and they have been
on the average considerably over 100000 per week IL
Will be that there must lie large quantity OF gram
ahoat proceeds fOIu the sale Of when are dependent
upon Liverpool market during the NJ Xi few weeks
Mr. Kent of A. T. Kent Il Co, at No. 20 Bt0ad-st,
stated the property turned over by M Baxter con
sisted OF bis private residence III Brooklyn, which was
unncumbered and valued at $4,000 very fine country
residence which would have sold before the pane for
$4,000; cash bank, 100000 and 10000 belonging
10 his v.fe. Mr. Kent said that his rn had become con
WINGED that Mr. Bakers transactions had bes OF The
most honorable and ghtforward character and they
had decided Therefore 10 release the gram seized last
He believed however that the loss OF the firm would not
be heavy.
ALVIN Burt assignee of Alher L. Dodge dealer in wines
and cigars al 7O9 Broadway, whose failure has been
announced estimates The assets OF MI Dodge II closed
out AT forced sale. at $4,000, OF which S537 consist
OF good bills payable He expresses the hope however
that careful disposition Of the goods t. the best al
vantage he will realize about $4,000. He has taken
Of the store and other property, which ne VIII
dispose Of possible for the benefit OF me
creditors The statement of liabilities furnished 10y NJ
Dodge gives atotal amount of little less than 100000
Mr. Burt claims that there are other accounts not In
euded in this that will increase the amount 10
about $4,000 He assigns one OF tie causes OF Tue
failure the fact that Mr. Dodge paid rent ~
$4,000 for several years. until last May. when II was re-
duced ~ $1,000 per annum tho old lease having expired