The New York herald., 1875-08-21
NEW YORK, August 10, 1875.
WALL STREET NOTES.

THE FAILURE OF HERTZ Co--THE TRUNK
LINES RAISE THEIR RATES PROSPECTS OF
WESTERN RAILROADS.
Messrs Ferdinand Hertz 4 Co yesterday gave notice
to the Produce Exchange that they unable TO meet
their liabilities
The failure OF this 6rm was yesterday announced in
the HERALD Messrs. HaLgarten & Co., bankers the
of Broad and Exchange place. waited
by the writer and received the following information
from member Of the firm HERTZ Co. were ship
pes Of produce and acted simply their brokers;
gave them credit for all sums paid in TO u.s. and
naturally charged them with all moneys disbursed
When we had cash belonging 10 them paid ii out
when they longer had credit refused dispense
The story that retained moneys to meet unsettled
differences unpaid debts, simply deny" The firms
liabilities understood to be large, and but few
people will be the sufferers by their suspension The
firm did large business in purchasing tobacco few
years since for Messrs. Fourd, the eminent con
with the French government but it supposed
they lost lately injudc,ous specuatons Later
a representative of Hertz Co. told the HERALD
porter that Mr. Ferdinand Hertz quite ill., but that
the liabilities of thes firm great and that
brother of Mr. Hertz in Europe had telegraphed him
yesterday asking what they needed to bridge
their difficulties, intimatng that the would be
Immediately supplied.
ON PRODUCE EXCHANGE
the feeling Of undoubted sympathy for the
fortunate firm and but little doubt expressed that
the house would resume business very shortly
Mr. Burt the assignee of Albert Dodge Qate Chamber
LAIN Dodge No 70e Broadway stated yesterday that
the preliminary statement Of the affairs Of the
was nearly completed and would be fled according to
law, early next week in the County Clerks Office
THE RAILROAD MAGNArEs RAISING RATES.
Yesterday there meeting Of the representatives
of the New York Central, Erie, Pennsylvania Central
and Baltimore and Ohio railroads the Grand Central
depot-oIices of the New York Central and Hudson
River Rairoad-to take into consideration the
advance in freight and passenger tariffs over
their respective roads The meeting was har-
monious, and although the agents did not
agree publish the advanced schedule of rates before
Monday next and it understood the prices would be
trhe beneath those established by the memorable
Saratoga compact enough was learned TO warrant the
statement that rates were advanced considerably above
the figures prevailing during the late runous warfare
between the Baltimore and Ohio and Pennsylvania rail
roads 1t is believed that the tariff taking Chicago
as bassl will show increase of about So The fare
Chicago will be 500 $40 so against 500 according
TO Saratoga rates. and that much above the SIS %
chsrged during the wa between the roads above named
WESTERN RAILROADS
yesterday reflected the set forth in these columns
rs of business, Frightening crop prospects
and the certainty OF bond dividend in ST Paul Rail-
way preferred stock, almost the entire Western list
advancing the particulars Of which will be found in the
proper column.
ANOTHER SAN FRANCISCO DESPATCH
in regard the injury TO the Pacific Mail steamship
City of Peking was received m this city yesterday
through the European Telegraphc Agency at the cor
Of Wall and Broad streets The following Is a
copy
SAN Francisco, August 10 1875.
Cargo OF Picking not all discharged survey fully
pleed Surveyor estimates damages at $lj0OOO spar and
decks be repaired with IRON three heavy box
strngers fore and H bulkheads be continued
main deck all defective rvets be replaced Ship
doCked aud bottom examined.
The imports of dry goods for the week 81 76e O32
and amount marketed, 81, ia 9s4