Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-07-27
BY TELEGRAPH.



New YORK, July 27.-Duncan, Sherman
Il Co., suspended this morning. The suspen-
sion causes great excitement in Wall street.
NEW YORK, July 27.-The following an
nonucement has just been made By Duncan,
Sherman 4 Co.: A careful examination of our
business and affairs shows us most unexpected.
ly that through losses aud misfortune our avail
able assets are so reduced that We are compeI-
ed to go into liquidation. We reached this
conclusion with the deepest regret, but the fact
that up to the latest moment our unexamp led
credit having remained unlmpaired would have
compelled US, if We continue business, to hazard
new obligations and receive new condolences
which we were willing to assume for the pro-
lection of all our creditors without distiction or
assignment to Hon. VIM. d. Shipman of this
city, whose address for all matters connected
with our affairs will be at our late banking
house, No. ii Nassau street.
(Signed) DUNCAN, SHERMAN & Co.
The Posts fnaucial says: Quietness in Wall
street was broken 10 the second hour oil bust
ness, by the announcement that the banking
house OF Duncan, Sherman 4 Co. had closed
their doors and suspended payment. A clap
OF thunder 10 clear sky could not have caused
more CONSERVATION, and at the Stock Exchange,
Gold Exchange, and Cotton Exchange there
was great excitement The liabilities of the
house are given at inside of Sc, 900 900, and it is
admitted that the assets fall 10 value far below
this amount. The losses, which have weaken-
ed the house, are not entirely of recent making,
but cover several years, the heaviest, it is un.
derstood, having been in cotton, and the next
10 securities, which now have doubtful value.
1t is due to Wm Butler Duncan to say that had
he had the disposition to take the chances the
credit of his house was sufficiently good to have
enabled him to have got means necessary to
bridge it over His bills on London sold
yesterday close on to those of four prime Dames
As man of honor, however, be took an hon
orable course, and stopped while he had some
thing to divide, refusing new business He
endeavored to get new capital enough to pay
every demand which could possibly be made
Oh him, but failing in that, wisely concluded to
suspend. Losses by the suspension will fall
as rule where they can be easily
borne, although considerable amount
OF travellers credits are outstanding. The Union
Bank of London and the Barring Brothers. the
London correspondents OF the house, are OF
course able to stand what they will lose The
bank Of the State of New York, their home
bankers, are, We are told, fully protected
The house was favorite one for the
deposit accounts of corporations, and they can
also stand their losses without embarrassment
We do not know yet the amruut of bills on Eu-
rope, which have been sold here, and are held
by our merchants. This, it is presumed, will
be the heaviest part of the loss, or the part
felt most. 1t is uol knowu, nor is it supposed,
that the house was carrying any considerable
amount of stocks, which have close market at
Stock Exchange.
New YORK, July Ill p. NJ Gold ad-
vaoced to l6s upon the announcement of the
suspension OF Duncan, Sherman Il Co., but is
now Il p. III AT
PHILADELPHIA, July 27.-The failure of
Duncan. Sherman Il Co., reported here about
noon, causes intense excitement. Gold jumped
at once to lG!, but has now fallen to a.