, 1875-07-28

side Of ao.000.0o0. and It ID admitted That
lhesr hsAetn fall In value far below this
amount. Tue lohbea which hare Weakened
tho lloure ara not cntlraly of re-
cent making, but co7oF aeEeIAI years. the he*r-
fcAt, IL IL ntlotetood, having bcen In cotton aud
next. In securities, ulllch NOW laYo doubtful
value.
"It ia dus to William Butler Duncan 10 Say that
had te had the dl.posilson to take tho chances,
tho credit Of hls honse wan sufficiently good 70
hAvo enabled him " got tho mesnB nectHnArv 10
hhHe brldged over hlB bila Oh 1on1on, Eo'h sch-
tetday. Ar man Ut honor. however+ ho tn1x
nornetlinK 10 divido. Kefueiu0 now buaineas, hc
endeashted to get new capital enough 10 pay
osery demand which conld pntshly ho made Tn
him. hut falling ID that Ito wisely concluded to
suspend
4 cam.
Tho Posi- win alno puolisl! tho following nsate-
Fnent to tho credltora of tho ruI, prepared By
NF. Duncan aud reAd At the Stock Eichange:
Sgw Funk, July 27.-A careful examination Of nus
!1 1us,nes' .. M sho~s ~. ,"oss mnealsss15 sh.
.sr 10 reduced that wc arc compelled to 80 Into li4ui
daton. W. r.aeh tlis conclusion with thn dee ie.l
tnntt line xAinpled credit having remained unn]atrs
vnuld havo compelled Us, II VIC continued busne.a "a
h,1.td n"w o'l,Eat,,G1,n, ,na insnF NV ,,nnaon,s.
ton Of all our creditors, without tl!rnt.pa rs-f
Gttnce we hare this day tnado general assi4,Hnsnt
to the Hon. William p. shfpmsn. u thiL etF, whr-.
address for ii! matters conutc.ed 9Th aaats Will
bc at our lats banking house, No. II Ss,s4n STREET
{Blgued) DUNCAN, hlEAMAK h Co.
soHE or THE cAgsEa.
1t Ia thought that tho Tsceut heAsy failures In
tho Manchester (fsng.) cotton trade have sone-
thing to do with the immediate embarrassment
OF the house OF Duncan, sherman / Co. They
have bonn BY far the heavient buyers Of cDttoa
In the American market for savcs al years. most
ly. It Was undsrBsood. for Manchester. Ihe be-
lief was that otdorH woro gtuoralIv executed on
London banks' OF baukeEa' credit; hut II it tur14s
out that they trusted to any extent. 10 direct
credit6 Of snch concerns IA McsArn. Collie, iu
Manchester. it Will be = misfortune wliIcl. In
ordinary prudence could guard against. acting
that there houses Ind the confidence Of I.onl IN
TO the oxteut Of unto!d millions AterlinE. Thcsa
ia bolef that m0Ht 0f tho bl1ie now running are
ttndor etropR acceptance on the other eide tar,
by Mestrs. Hartug mud tho Gn.nn Bank o! Lon.
don. Tho outstanding trayefors' credits Of Dun,
can, Sherman M Co. are on different footing,
and may causo serious incol,s onIeuco to roti4e
Ut Our people now abroad. 1t ia n1uitrstooI
that full B.atanent Of the Affairs OF the house
il in preparation.
weeks hgo, sud hos Alnce beon making q corefn
examination OF The assotp, and finds that tho,
arc lareely Inadequate. Ho resolved to cndcayo
to got new cash capital, and. having failed K
| do no, Determined tllat It was best to HuHleii,
and make general assignment for tho heneli
OF all hih creditors. tho assignee being UuitcI
Statcs Judge William hhip.nnn.
Tho houHe waA founded III 1850 by AleXande
Duncan, Waits Sherman, htd ". Butler Duncnn
the latter tho head Ut the present house. Lii,
ptckcnt firm hsA boen iu operation about to,
ycArA. Groat sympathy is exrreaHed ihr ths
tFi,, aud particularly Tor ". Il. Duncan l. ca.