New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-31
THE BANKRUPT HOUSES.
DUNCAN, SHERMAN & co.

DUNCAN. SHERMAN & co.
WORK on STATEMENT DELAYED-REMrTTANCEs
PROM PERSONS WHO HAVE NOT HEARD OF TIE
sUsPESsoN-LossEs OF THEATRICAL PEOPLE.
Quiet prevailed yesterday IN the banking and
business quarters OF the city. While the failure Of Dun
can Sherman Co. has not passed altogether out OF the
minds Of business men, the fear of Its producing further
financial troubles seems TO have subsidized entfrey ana
almost the only heard In regard TO the mat
ter yesterday related ~ expectations OF more denc
about the condition Of the firms affairs No new
failures Of Importance occurred Two small stock speci-
latOrs who had anticipated o panic. and who conse-
quently had sold "short," were unable to meet some
trihing engagements.
No definite Information 10 yet given concerning tho
time when the statement Of Judge sbpman In regard I"
Duncan Sherman Co.'s assets and liabilities Will be
made public. Judge Shipman and Mr.. Duncan were
again ut the bank yesterday and the former remarked 10
a reporter Of THE TRIBUNE that he was devotiDg his
whole time TO the interests Of the creditors, and that "a
a complete showing of the condition OF the banK
at the time Of the failure could 10 prepared II would be
made public, but it still impossible for him to
say when the statement will DO ready. Mr. Dun
can stated that what annoyed them most at
present. and delayed the preparation OF the
statement was the number Of receipts Of remittances
from persons who mailed their letters before they had
received the Of the failure. The members
OF the firm elcgraphng constantly about these,
and while everything possible done to carry out the
wishes writer's of the letters tho matter occa-
stoned great deal Of annoyance, as no step could he
taken until the approval Of the assignee i'll each case
obtained, and then IL was often question whether
not advisable To obey the Instructions contained
in the letters wait for definite advices Dy
Monday next he thought these rcmttaDces would cease
coming and they would be able TO give more UNDIVIDED
attention 10 the accounts of the firm.
IL was suggested yesterday by prominent broker that
the best thing to he done is TO make the deposors
of Duncan Sherman & Co. stockholders in new bank to
be organized under the general Banking laws OF the
State upon the payment OF 25 per cent OF their present
deposits additional capital stock, witch should be
made preferred guaranteed stock. Tic thought the
public had confidence In the integrity OF the managers OF
the old firm and that there were persons enough who
would readily embrace the opportunity 10 start them In
business again TO make the enterprise fuccessf'il.
repor has been circulated that several theatrical
people heavy losers from the failure OF Duncan sher
man g. Co. On inquiry ut dramatic agencies and from
actors thee statements found to be wholly untrue
I'm some cases while Others the amount lost IL not 30
large ~ reported. william whcatey instead Of having
a very large deposit with this firm as was re-
ported, had none at all. It was rurnored that John
Droup ham had his whole fortune there This is not true
But he had railroad bonds and securities on special
deposit IN this house John T. Raymond, who arrived
from Europe n few days ago. had nothing there
It is said that Mcssrs. Henderson and Coiyile are
losers by the failure 70 the amount Of $4,000 or
$50 600 II is Thought that j. L. ToOle, who sailed two
weeks ago from this country, will lose heavily. W. D.
Florence has letter Of credit from the 1lm, hut how
much he has drawn upon IL ia not known. prominent
member the dramatic profession said yesterday that
lie DID think there were more than two or three
actors abroad who held letters OF credit from the firm.
COMMERCIAL WAREHOUSE COMPANY
PROP JsIrION OF CERTAIN CREnTfORs To GRANT AN
AFFAIRS.
John Baird assumed his duties az Receiver
OF the Commercial Warehouse Company yesterday morn
ing Mr. Baird does read Spanish, and lie remarked
yesterday that, the principal amount Of the cor
respOndence Is carried In that language, the
work Of translafIng tho daily mail Of the Com
pany, which is large, viii involve some delay IN
the PR paraiiOn Of o statement 81 have spent
the whole day" he said, Z" in attending to
this correspondence and in tr ing Ia form Sne general
idea how the AFFAIR." Of ic Company stand proIo'i-
ton has been made by Of the creditors tO grant
such extension may lie thonght necessary to enable
the Company from it's cscnt embarrassment:
but nothing VIII be decided rSardBs TIC matter unul
the balanced hen ne can see just where We
stand We shall then be M, 4 better able To determine
whether will be- advisable to continue business or not
In addition to other causes delay in making state
ment the representatives OF The Company have recently
done very large business III Havana AMI an ioil TIER
books arc considerably behind We shall have to havea
statement from Them ~ well ~ from all our other cor
respondents before can know what the real obsa-
tons amount to-
The brig Harry Verlep arrived at this port yesterday
from Cuba laden with 357 hogsheads, ~ teices. and
2O72 bags Of sugar the whole valued at abont ss0OOo
The cargo consigned to the Commercial Warebolsg
Company, which had made advances upon IT, and II was
rnediatcy placed upon the list OF assots
NJ e.,