Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-07-30
Drowned.
NEW YORK..
The Duncan. Sherman Il Co. Failure.

!
New York, July 90 VIM. Butler Duncan gives
the following explanation of the recent recorded
real estate transfers
The bank building, he said, was sold to his
father, Alexander Duncan, on June 6, 1868, for
$500, 900, subject 10 mortgage of 100000. On
May 26, 1874, the property No. IL Pine street,
was sold to Alexander Duncan for S58 ,S24 06, sub
ject to mortgage of $4,000. The consideration
for both of these transfers was paid at the time in
cash. The other deeds, etc, Mr.. Duncan said,
including the deed of the l4h street property now
put record, were long ago lodged with the
agent of Alexander Duncan, to secure a certain
credit granted to Duncan. Sherman 4 Co. by par
| ties in London, under the guaranty of Alexander
Duncan, for which the firm placed the deeds with
the agent to be recorded at the pleasure of Alex
ander 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 Alexan-
der Duncan's instructions. The other deeds made
by members of the firm in previous years, list
| of which has been published, cover old transac-
tons in real estate which have connection
whatever with the present failure.
Railroad Matters.
On application of Receiver Jewett Of the Erie
! railroad, Judge Donahue to-day granted an order
empowering him to settle the suit of the Jeffer-
son Car Co. to compel the payment Of SIC, 800 per
month for the use of rolling stock. The Judge
permits the settlement the following conditions
The Erie company to pay the car company
$500, 900 in twelve monthly instruments, also the
costs of the suit and e surrender the stock of the
car company The receiver is also allowed to
cancel the contract between the Erie Co. and the
National Stock Yard Co., the Erie Co. to purchase
all the outstanding stock Of the Stock Yard Co. in
the hands of one Robinson, at the rate of $4,000
worth of first mortgage bonds of the Co. 1923
shares and buying 1922 shares of stock of the
Co., held by Mrs. James Fisk, Jr., for $1,000 of
first mort gage bonds of that Co. A contract is
also to be completed with Robinson, whereby the
Erie Co. is to obtain the property at 18th Avenue
and 4h street, subject to rent of s2l $40, and
paying one-fith of the profits of the business to
Robinson. The petition is suits against Erie
| by the Farmers Loan and Trust Co., J. c. Ban
croft Davis, and trustees of fifth mortgage.
Trade Organization.
New York. July 20. The German journeyman
upholsterers, last evening revived their old trade
organization in view of the better business pros
poets in the fall.
Losses by the Failure.
The Trenton banking company of Trenton,
New York, which lost 100000 by Jay Cooke &
Co.'S failure, now loses 100000 by the failure of
Duncan, Sherman Il Co.
Personal.
1t now appears that District Attorney Nolan
received between $4,000 and 800, 900 from va
rous steamship companies.
Another Loser.
| 1t is rumored that Toole, the actor, who recent
ly returned to England, loses $4,000 by the fail
ure of Duncan, Sherman 4 Co.