The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-04
SELLING OUT soHULHorF c co.



ness-Advances by Bx-Sccrctary Mccall
iougb's Firm Other Merchants Opinions.
There was another large peremptory sale
OF the importations Of Philip sohulboi 4 Co.,
the traders In undcrvalued Grapes and silk
goods, In Field, Morris, Fcnner & Co.'S auction
rooms yesterday. The sple lasted I've hours,
and was one OF the heaviest that has been effect
ed here in years. Buyers attended from jo0blng
and importing houses In the principal cities
throughout the country, the antlcpatlons being
that good bargains could be had owing to the
owners complications with the Government.
The catalogue comprised fourteen hundred
pieces OF black and colored dress silks tafrctas,
Rros grains, poult de soie gros de Rhin, each
meres des Paris ct Lyons. aud cachmere lmpe-
rial, besides large line Of mantia velvets The
stock WAS disposed Of for the benent Of some OF
the judgment creditors Of Schulhon & Co., tho
auctOnoers being among the number They had
judgments for $l9s,OOO, representing advances
maze to Schuhon n Co. on their import tations,
and duties paid into the Custom House on the
firms invoices. The s,le Welded about slSOOOO.
and with the auction OF last week m es over two
hundred thousand dollars worth Of goods that
have been auc ioned on In the last eight days To
satisfy Judgments against Schulhon and his part-
ners. A: Il. Stewart Coz aud Lee, Tweedy Il
Co. purchased heavily.
AS the investigation into the operations Of
Schulhoh Co. progresses the magnitude OF
is developed against them. Adyices from Europe
show that they owe most OF the big manufdc-
turers In silk goods in France and England,
and the creditors there are clamOrtn9 for
their money. In PaTls, Lyons and London,
where the firm had extensive credits, thc,e ls a
son, who wss schuno COS asee, e. % n "ps5 Ioa
don, aud consigned goods TO them from the
manufacturers, quilt England few weeks ago,
Mr.. Horace websters estimate that the
foreign obligations of the 1rm will amount to
&.0OO gold, WILL II Il believed, fall far below the
marx. Claims against the firm for large surNs
are arriving daily from Europe: Hugh hcCul-
loch & Co, bankers, ot Lon Son. have a claim for
$4,000 for advances made on an importation OF
dress silks, ties, &c. forwarded 10 Schulhof &
Co. The advances were made to the sellers OF
taken as security. when the goods reach
ed this city the FIRST National Hank, the
New York soc correspondents OF Mcculioeb
out OF the Custom House on duplicate bills Of
lading, and after the sus1ension the bank.
tachment against other goods belonging TO the
nrm In bond. These goods were protected from
MoIp so,oS Sn assanesy s19 ~ sd
bank got a judgment, and bad Mr. French ap-
pointed receiver. He tried to take possession
OF the stock 10 the merchants store In Broome
street after its release by the revenue authorities
but was resisted by the Sherins officers, who
by Mr. Mosuet and Field, Norris, Fenner DsSs1se co.
The goods we're those sold n week ago. McCul.
loch & Co have other claims against the Arm. in
the shape OF bankers credits. but have not pre-
sented them vet.
Mr.. webster's opinion that the foreign Gre
ulNoTt VIII not recover cent OF tne vast SUN
due them Is shared by other merchants and at
torDeys. The assertion made by Mr.. Schulhon's
partner, MI. altman, that the former has not a
cent left Of his reputed fortune does not tally
with Mr.. Schulhon's statement to Deputy Sur
yeyor Burton, that he was worth tS0O,0O0 on the
first of January last. lie made this ad mission
OH his arrival from Europe. A gentleman In the
Custom House says that Mr.. Schulhon Informed
him that he had made enough, and expected TO
have retired from business early neat year IL his
trouble with the Government had not occurred.
II Is thought from these confessions that he has
lara mt aN - "a.
ditors cannot reach II. lie has had Judge Hoge-
boom, the ex-General United States Appraiser,
Little Johnny Davenport, ex-senator Matt Car
penter, and Others as his attorneys and counsel
ia his nght with the Government.