The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-08-30

tefS sLDat gtAe 0peSatlQnS Oh Surfing, Anren8
a. Co. amounted to nothing more nor less
than a vast monopoly Of the sugar and mo-
lasses rttning and importing interests, and
that more equitable distribution of this
business, by division of the refining and
| importing ameng other firms, would re-
dound to the benefit OF the mercantile and
commercial interests Of Baltimore generally.
| There were various theories advanced as
| to how Stirling, Ahrens & Co. made use of
the credit Of the Calvert Company to such a
large amount without the knowledge of the
Board Of Directors. One explanation, which
gained o;,tte m extended circulation, was
that the notes O. the Calvert Company were
given 10 Stirling. Ahrens & Co. with the ex.
! pectstion that they would ~. used III pay
! ment for sugar to arrive for the CaiVere
company. Instead Of the notes being u..Eu
In this way IL was alleged that they were sold
TO bankers, who advanced money on them,
takn% rs security the sugar. The money thus
secured was used in paying the maturing
obligations Of Stirling. Abrens & Co., and
Keeping them atloat. 1t was thought that
the suspended firm fully believed in their
ability to weather the threatening storm,
take up the notes of the Calvert Company,
and that no one would be the wiser. Con-
tinued losses, however, necesstated their
suspension, which led TO the exposure. This
was one Of the runners, and Is given because
il was accepted by several leading merchants
as the correct version. II was said that there
were now no less than $500 hogsheads ofsu-
gar in the bay, which, under the arrangement
above alluded TO, belonged to
ALEXANDER BROWN SONS.
One of the members of this weIl-known
clearinghouse said that the amount Of the
indebtedness Of Stirling. AhrenS & Co. to
them was fully 100000. His house, how.
ever, he considered was fully secured by col
la,eral>, consisting OF sugars. syrupS, mo.
laSsrs, and bills receivable. He did not APP
prehcnd any loss.
Considerable interest was manifested rs to !
whether the
STOCKHOLDERS OF TIE CALVERT COMPANY
were liable for the debts OF the concern to an |
amount exceeding the amount Of stock.
One Of the large stockholders, when APP |
preached on the subject, said that the stock. |
holders were only liable 10 the extent Of the !
100000 Of capital stock, aud no more. The |
stockholders could not be held responsible !
individually for the liabilities of the Calvert |
Company.
SOME OF TIE CREDITORS.
Besides Brown Il Sons and Boningcr Bro.
thcrs several provision-1caers were men
tened as being affected by the suspension in |
amounts ranging from $4,000 to $4,000. |
The lact OF these amounts being compare.
lively small vas explained by the statement
that the paper Of Stirling, AhreHs d Co. has
not for some time been considered by |
the mercantile community 10 be first.class,
and that it was generally disposed Of to the
various banking.houses as fast as received.
Some sales, il was learned, Of this paper had
been made during the week at nine per cent.
per aunum. The bakers, in consequence,
would have TO bear the brunt OF the loss,
and when the affairs Of the firm were settled
up it would be found that Of the
- 500 600 or more liabilities but q small
proportion would be found among the
merchants. 1t was stated that Stirling,
Ahrcu> II Co.. in transacting their extensive
business, chartered nearly onc-haif Of the
vessels leaving this port for Cuba and South
America. and that in consequence several OF
the argcs, shipping firms were involved. 1t
was also rumorcd that the estate OF q. n.
the nephew Of Adolph Ahrens, and
member Of the firm, who died several
months ago. valued at over halt million OF
dollars, would be held liable for the pay.
nirut Of the debts of the firm. The Gallrgo
Flour Mills, of Richmond, Va, were also
lDtHlIDlltQ it, JC!Isss tuC SiNti ~ |
VOWED TO large amount. Among the pro-
vision firms said TO be interested were Jcn-
kinS Il Chandler, 900: Z. II. George Il
Co, $1,000: and Armstrong Il Hopkins,
$500.
RCMoRS OF OTHER FAILURES
were rife during the afternoon. The names
Of several we'll known firms were mentioned,
whose business relations with Stirling,
Aureus Il Co. probably gave rise TO the re-
ports. These rumors were diligently traced
10 their source. and in all cases found to Lave
no apparent substantial foundation. In one
case it was discovered that firm which had
been indicated AS being seriously affected by
the suspension owned Stirling, Ahren> Co.
between 81, 900 and $4,000. The names OF
the firms alluded TO are withheld for obvious
reason.
[By Telegraph
BALTIMORE, August 2S.-The joint COM
mittre of directors and creditors Of the Cal
vert Sugar Refining Company were busily
engaged all day examining the books cl Inc
conc"rn. II is thought the committee Will
Dot conclude their labors before THURSDAY,
aud have issued call for il general meeting
OF The creditors TO hear their report on that
day.
The Big Bonanza-The Nevada Silver
Mines.
4 GREAT PRODUCT THE PRESENT YEAR.