Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-30
Duncan, Sherman q Co.'s Rail-
road Investments.
Suspension of the Publishing
Firm of j. b. Ford Il Co.
The Christian Union on a Firm
Basis.
VIM. b. Duncan Explaining His
Real Estate Transfers.
An Unfortunate RanI,

| NEy YORK, July 29.-Ihe Trenton
Banking Company, of Trenton, n. j.,
which lost Sl50,000 by Jay Cooks failure,
| loses 100000 by the suspension of Dun
can, Sherman & Co.
Deprecated Railroad and State Bonds
A responsible officer Of one of the largest
banks in this city, yesterday stated that
Duncan, Sherman IL Co. had nearly $780,
600 tied up in securities of the Mobile &
Ohio Railroad Company, Of which Dun
can is President, and a small amount in
the Selma q Gulf road. II is understood,
also, in one of their settlements, Duncan,
Sherman * Co. had been obliged to take
S5OO,OOO in Alabama State bonds, which
are now quoted at thiTty-fl7e cents on the
dollar.
Beecher's Christian Union"
J. B. Ford & Co. in a card states that
the depression in their book business con-
tinued since the panic of 1873, and agra
waited by the fire in their bindeTy in Feb
ruary last, which paralyzed spring sales.
They claim that their assets at bare cost ex-
ceed their liabilities by over $4,000. The
CtrtStidn Union, they say, is sustained by
ample capital. Its condition is sound, and
its prospects bright. The statement that it
has lost ground since the trial is not true.
Ford x Cos connection with it is simply
that, besides being stockholders in the
company, they have been employed as pub
fishers Of the paper. They have resigned
that charge, and after the 18th of August
the business Of the paper will be transacted
by their successors. At q meeting Of the
creditors Of J. B. Ford Gc Co., it was stated
that their assets were SSSlO0O in excess of
liabilities. The business will be continued
subject to the action of creditors. Pay
ments were temporarily suspended.
Questionable Honesty.
1t appears that transfers Of real estate
have been recorded at the registers Office
this week on the part Of VIM. Butler Dun
can and other members Of the firm, to the
amount Of a million and quarter Of dol
lars. The deeds just recorded date from
1865 to 1874. The name Of the grantee is
freshly inserted in a different handwriting
from the body Of the deed.
Duncan Rises TO Explain.
VIM. B. Duncan, Of Duncan, Sherman &
Co., explains the transfers Of real estate as
follows: The bank building was sold to his
father, Alexander Duncan, June 6, 1868,
for 100000, subject toa mortgage of $780,
600 on May 2G, 1867. The property, No.
IS Pine street, was sold to Alexan-
der Duncan for SjS,S42, subject to
a mortgage OF $4,000. Consideration
for both these transfers was paid at
the time in cash. Other deeds, etc,
including the deed of th5 Fourteenth street
property, now put on record, was long ago
lodged with the agent Of Alexander Dun
can to secure certain credits granted to
Duncan, Sherman d Co., by parties in
London, under guarantee Of Alexander
Duncan, for which the firm placed deeds
with the agent TO be recorded at the
pleasure Of Alexander Duncan; in case
the credit was not used, the agent was to
return the deeds to Duncan, Sherman *
Co. Under this credit a certain amount
has been drawn, and the agent therefore
recorded the security in accordance with
AleXaRder DuncaD's instructions. Mr..
Duncan said that other deeds made by 9TH
er members of the firm in previous years,
a list Of which has been published cover
old transactions in real estate which have
no connection with the present failure.
Erie Suits.
On application of Receiver Jewett, of the
Erie Railway Company, Judge DOnahue
to-day granted an order empowering him
to settle the suit of the Jefferson Car Com
pany to compel the payment of SIO,500 per
month for use Of rolling stock. The Judge
permits a settler ent on these conditions:
The Ede Company to pay the Car COmpa-
ny 100000 in twelve monthly install
ments, costs of suits and to surrender the
stock of the Car Company. The receiver
is also allowed 10 cancel the contract be-
tween the Erie and National Stock Yard
Company, the Erie TO purchase all out
standing stock Of the Stock Yard Com
pany in the hands of one Robinson, at
the rate Of $4,000 worth Of first mortgage
bonds Of the Company for 1923 shares,
and buying ,S22 shares of the stock Of the
Company held by Mrs. James Fisk, Jr.,
for 5000 Of first mortgage bon4s Of that
Company. The contract is also to be
completed with Robinson, whereby the
Erie Company is to obtain property at
Eleventh avenue and Fortieth street subject
TO rent of 81, $40, and paying one-ffth of
the profits of the business to Robinson.
The petition is on suits against the Erie
by the Farmers Loan and Trust Company,
J. Q. Bancroft Davis, and trustees of fifty
eight mortgage bOndhOlders.