The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-07-29
ByTeIegraph
ASSOCIATED PRESS REPORT.
10 THE DAILY LNTELLIGENCER
DINCAN, NIIERMAN 4 CO.

~ THE DALLl CEI
DUNCAN, SHERMAN a 60.
An Interview with One Of Ih'
Firm-What DFeXcl, Morgan 4
90. Sny about 1.-THE tnlOI
Rank Of London all Right-Th'
Mexican COnSulH Heavy Loser
The Assignee at Work.
New YoK, July 2S.-The Herald pub
fishes an interview with W, B, Duncan
who says there is no truth in the report
that he went to Europe to consult Alex
Duncan for the purpose Of securing hi
aid to negotiate for new loans, and that III
applied to Barring Il Bros, and othe
| European firms for assistance, and that /
was denied that the Union Banking Com
pany is loser by the firm to even tn
amount Of one farthing. Duncan say
that every arrangement was made it
prevent Americans abroad, with theil
letters Of credit, from experiencing any
trouble.
Mr. Barlow, counsel for the firm, says
that the rumOrs that the failure will al
feet the Union Bank Of London, is I'M
founded, as the bank is fully protected
as is also Barings,
A LARGE AMOUNT OF RISK.
Scignor NavOrro, the Mexican consul
Is dcpOsilOr with duncan, Sherman ~ Co
to the full amount Of his private fortune
sixty or seventy Thousand dollars, and all
the money belonging TO the Consu late
but does not seem to be afraid Of the loss
WHAT DREXEL, MORGAN \ 60. SAY ABOUT
IT.
Drcxcl, Morgan n Co. say that Duncan,
Sherman u Co. have been largely engaged
in cotton transactions, their London agent
being Mr.. Kitchen, Of the firm Of Collie
Il Co. Within four weeks cotton has
fallen three cents per pound. Surprising
they had $4,000 bales in transit, their loss
would he about S375,OOO, not enough to
send them under. But We hear that they
were largely y intcrcstedi in Mobile 4 Ohio,
Atlantic 4 Great Western, and slightly
in Erie railroad shares,
The President Of the Shoe and Leather
Bank says there Is no fear Of the crash
having any effect on the business Of the
city. II would affect Connecticut and
Rhode Island especially, as he believed
the paper Of the house largely circulated
in those States. In the Western States
also many houses would more or less suf-
fer.
THE UNION hank OF LONDON ALL RIGHT.
The agents Of the Union Bank Of Lon
don (thc Bank Of New York; say there
is no truth in the rumors Of It's suspcn.
sion, the only ground therefor being the
fact that cable dispatches announced that
il refused to honor the drafts Of Duncan,
Sherman &Co.
PARTIES GUARANTEED.
The Past says the losses Of duncan,
Sherman Il Co. on cotton exceed 81 ,OO0,.
600.
The Union Bank and Barring Bros. 4
Co. have both been guaranteed by Alex.
Duncan.
WHAT FISK y HATCH SAY.
Mr.. Fisk, Of the firm Of Fisk q Hatch,
to-day said that u careful inquiry had
been made among the banks, who report.
ed that not more than 100000, at the
outside, of the firms bills were held in
the city. The President Of the Bank Of
the State Of New York, where the sus.
pended firm kept their account, said his
bank held some S;I00,00O in securities
Of the firm, all Of which was available
stock.
Judge Slipman, assignee of Duncan,
Sherman 4 Co., was busy all day to-day
with his clerks, making an examination
Of the books.
now ABOUT THIS?
On Monday last, Mrs. Sarah, NJ. G.
Shcrman's widow, and Wm. i. Duncan,
Of the firm Of Duncan, Sherman Il Co.,
made Il transfer Of real estate in this
city to \. Duncan, amounting 10 $780,
600.
l.oNnoN, July 2S.-'l'he suspension Of
Duncan, Sherman u Co., has no apprcCia.
bic effect on the general market here.
Thirty.Onc mills closed At Dnndel, and
twelve thousands persons were thrown ont
Of work.
The American team visited the Arscn.
al at WoolwiclI to-day by special permis.
sion.
LIVERPOOL, July 2S.-Thc failure Of
Duncan, Sherman Il Co., has but little ef-
feet here; II is reported that their ship
ments Of cotton will lH we'll protected.
More Failures.
BnOKES GROCERY FIRMS.
New York, July 2S.-Worth & Wat.
gOn, 1879 Duane street, and Martin G..
Bum 4 Co., wholesale groccrs, have sus-
pended; liabilities Of the former, 100000;
those Of the latter small.
THE COMMERCIAL WAREHOUSE COMrAN".
II is reported that the Commercial
Warehouse Company have failed because
Of heavy advances made OIL Cuban crops,
which the rains have destroyed.
The Secretary Of the Commercial
Warehouse Company stated to-day that
the probable Liabilities Of the Company
are 81 $i,6OO,OOO, aud their assets, which are
not available, perhaps Si,OOO,OOO. Afnll
statement will be ready in about two
weeks.
SUSPENSION OF A SUGAR FIRM.
PHILADELPHIA, Jnly gS.-John Mason
u Co., sugar dealers, suspended to-day.
Liabilities, $2OO,0OO.
II. FORD& co.
NEw YoRK, July 2S.-'l'hc Brooklyn
argus says j. Il. Ford & Go. have asked
tic advice anil assistance Of the creditors
Of their publishing house who are request
ed to meet tomorrow morning. The cir
cular Issued by the firm says: This cir
Cumstancc IL not to bC COhfoundcd with
the affairs Of the Christian Publishing
Company, which il a separate Organi1N.
ton good for all il owes II is stated that
II. W. Sage and II. NJ. Clcavnnd, who are
associated with Mi lIcrchcr in the Chris.
iinn Union are in no way connected with
the publication of the books. Mr.. Ford
mud partners arc Sam WilkcsOn, John X.
Howard and Edward l.. Ford.
CLOSED iTs DOORS.
LOUISVILLE, July 2S.-'rhc Tobacco
Exchange banking Company Of this city
closed is doors yesterday. The ihstitn
tion hns been regarded for some time in
prccnrious condition nnl its present sts-
pension has no connection with the New
York failure.
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