Evening star. [volume] (Washington, D.C.) 1854-1972, 1875-07-28
TELEGRAMS TO THE STAR.
THE FINANCIAL FURRY
DUNCAN, SHERMAN & co.
TWO MORE FAILURES TO-DAY.
NEW YORK AND PHILADELPHIA,
ENGLISH LABOR STRIKES.
THOUSANDS OF MEN IDLE.
THE FINANCIAL FURRY
DUNCAN, SHERMAN 4 co,
TWO MORE FAILURES TO-DAY.
NEW YORK AND PHILADELPHIA,
ENGLISH LABOR STRIKES.
THOUSANDS OF MEN IDLE.
DUNCAN. SIBERIAN q. 90.
What the Senior Member OF the Firm

I" uat the Senior MEMBER OF the Firm
Says.
NEW YORK, July 2s.-Wm Butler Duncan
senior member OF duncan, Sherman & Co
in an Interview last night with a Herdd
reporter, said there was no truth I'm the
report that about two or three months ago
anticipating what has happened. he went 20
Europe for the purpose of securing aid to
negotiate new loans and extend the credit OF
the firm, nor was IL true that he applied @
Barring Bros, Brown & Bros. and other rep
resentative European banking firms, for
assistance, and that such assistance was
denied. Mr.. Duncan also said that the Union
Banking Company Of London. which. il has
been stated, would sustain heavy loss by
his failure, is not inYo we'd even To "A farthing
In answer TO an inquiry as to whether
THE FALL IN COTTON
curing The past three months had anything
To do with the Suspension, Duncan said
,All that VIII probably be made known by
the proper authorities. / don't mean To keeIE
back anything. Everything have is at the
service of all 10 whom / owe any debts. The
statement of our firm viii be rendered at the
earliest possible moment. The public will
not have To wait long" Regarding persons
now abroad who have
DUNCAN, SHERMAN 4 CO.'S LETTERS OF
CREDIT,
Duncan said: Assure all friends OF such
parties that every arrangement has already
been made Ia prevent them from eXperienc-
ing any trouble They are all right; neither
they nor their friends have any occasion 10
borrow trouble. They are in such "A situation
that they can move hither and Ihither pre-
cisely the same as If nothing had happened
10 us Mr.. Duncan was also asked If he
could give any idea OF the extent of his liza
al present utterly unable To do so, but that a
statement would shortly be made plblic.
DreNel. Morgan q Go. said
To Herdtd reporter: IL mas been known that
Duncan, Sherman n Co have been largely
engaged IN cotton transactions, their agent
IN London being Mr.. Kitchen, of Collie Il
Co, who placed all the cotton shipped by the
firm, making his sales of cotton 10 arrive TO
Spinners i'm England and on the continent.
Within the last four weeks cotton has fallen
about three cents per pound. Now, sup
posing that they had 5000 bales in transltu,
not large amount for them, but a heavy
amount for other firms, their loss would be
about $4,000, certainly not enough To send
them under, but we hear that they are also
largely interested in Mobile and Ohio. At
lantic and Great Western, and slightly in
Erie. IL is stated that among the heaviest
losers is the Mexican Consul at this port,
whose individual and consulate funds were
on deposit with the suspended firm.
A Transfer Of Property.
NEW YORK, July 2S.-On Monday last Mrs.
Sarah Nj. u. Sherman, widow, and William
Butler Duncan, OF the firm of Duncan, Sher-
man d Co. made transfers OF their real es-
tate IN this city 70 y. Duncan, amounting to
S5s5 600.
ing Statement.
NEW YORK, July 2S.-The entire clerical
force of Duncan, Sherman * Co. are prepar-
ing statement. but it is not known whel IL
Will be ready The clerks are under an iu-
junction of secresy regarding affairs. No
where does there seem To be any impression
That the failure will produce anything more
than the monetary excitement which existed
yesterday.
What n Bank President Says.
The President OF the Bank of the State OF
New York, where the suspended firm Kept
their accounts, says that the suspension OF
the firm had caused him much surprise, as
no intImat'On in any shape had been given
10 officers OF the bank when they opened that
he could say that his bank held some $500 900
or 100000 securities OF Duncan, Sherman &
Co, all of which was available stock.
Gold Fluctuations To-day.
NEW YORK. July 2S.-Gold opened at li3 h,
and Is now (1030 a. m.) 1li&.
The Effect i'm London and Liverpool.
LONDON, July 2S-rhe suspension of Dun
can, Sherman & Co, of New York, has no
appreciable effect on the general market
here.
LIVERPOOL, July 22-Duncan, Sherman
Il Co.'S failure has but little effect here. IL
is reported that their shipments OF cotton
will be well protected.
Another Failure.
NEW YORK, July 2S.-Tne Commercial
Warehouse Company have failed-cause
heavy advances on Cuban crops which early
rains destroyed. The house also advanced
largely on railroad securities which depre-
ciated.
LOeT-It is reported that the liabilities OF
the Commercial warehouse company are
81 100000.
Failure I'm Philadelphia.
PHILADELPHIA, July 2S.-John n ason &
Co. sugar dealers, suspended to-day. LA
bilities about 500 ,0O0j