The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-20
WALL STREET NOTES.

A FAILURE IN THE TEA TRADE-A lrzETN0 q
THE CREDITORS OF HENRY cLKws 4 co..
THE GOLD GRABBERs ANR SECRETARY Bhls-
Tow-PAcIFIc NAIL RUMoRs-cMcAao, DAM
VILE AND vINCENNEs RAILROAD.
The house OF Gross March i Co.. importers Q,
teas ana conees, was reported to be in trouble
yesterday morning, and a HERALD represents
tive waited on the nrm, whose place Of business
Is at No. 90 Wall street. to ascertain the partcu-
lars. Mr.. Gross, the senior partner, stated thai
the reports OF their suspension were, unfor.
tunate!y true. He attributed their embar.
easements to various causes, amnna
which might Do enumerated the genera
shrnkage OF values the tnkering Of Congress
with the currency and the uncertain tarin laws.
The nrm had been in existence Tor nearly forty
years, mad passed through all the panics un,
scathed, ana Tor the Arst time had to call meet
Ing OF their creditors and announce their failure
Mr.. Gross could not at present give to the public
statement OF tue liabilities OF the house. bat they
were arranging their affairs, and by next Tuesday
expected TO be able 10 present q statement %
sets belonged TO their creditors ana their settle.
ment wouli. OF course, be an honorable one.
the Mercantile Register ratod the house - nrse
class and II was supposed to have capital Of
THE CREDITORS OF HENRY CLEws
held O meeting yesterday, at which Mr.. @. +.
Tlmpson, OF the Continental Bank, was elected
Trustee. The loan to the old firm OF Henry Clswl
4 Co. made by the new firm OF about 100000 Was
the subject of discussion. 1t was stated that II
MIR. Tappan, the trustee OF the old irm would pay
the loan and redeem the securities me new frn
which will make their losses small.
THE GOLD GRADERS
made the market lively yesterday. Upon rumor o.
Secretary Brlstow starting ior New York the pre-.
mum ratified down from iles. to 1885 but as ne
s re- eoasu %s'D4 bis Ss.
the msrKet rallied It was snre%v
that the "Dulis" used the Secretary's atlment as
pretext to unload some OF their holdings, but the
subsequent nrmness In price seemed to point to
continuance OF the squeeze. The merchants have
not oeen able TO cover their short sales; the Clique
absorbs cola as soon as 1t arrives, and the sup.
ments abroad about neuiralize the arrivals OF gold
from California. AS a proof OF this the steamship
city Of New York, wntcn sailed Tor Havana yester.
day, took out 500. 500 American and spanish coin
and this was about the amount Wells, Fargo
90. were reported to have brought from Caiilor
MIA. 1t Ii TO be regretted that the Low conditiOs
OF the coin reserve permits the gamblers TO pial
with the premium as they would with the dic.s
by the newsmonxers clearly point to this conclu.
sion as to the power OF the gold grahbers. The
public fOrewarned should be Iorearmed, but the
entering bait frequently IL too much tor then.
and they swallow 1t, hook anu all.
PACIFIC NAIL MATTERS
loom into prominence once more. Some chanRoA
II Is rumored. Will soon take place Ia the manage.
ment.
1t is credibly reported that three Treasury
Gle ks saled from Philadelphia on Wednesday lASt
In charge Of $l0,ooo,Oo0 OF funding bonds Ior the
syndicate IN London. Why three ciergs and why
from the quiet port OF Philadelphia, are enigmaa
| for Treasury officials to work out. These bonds
| are said to be the hrst instalment Of the Lass
SIS, 900 900 subscribed Tor.
CHICAGO, DANvIILE AND yINCENNEs RAILROAD.
The Dondhuders oil the above road met yester.
day in the Dtexe building, In this city, to inquire
into the recent charges OF mismanagement and
corruption OF the Officers Of the road. The follow.
ing gentlemen were appointed Q committee 81
investigate the conIitlon OF AFFAIRS and report q
iuture meeting :-Messrs. y. g. Constant. Cnand
Ter R0pUins, w. h. stevens, A. A. sub mr., Il "
Aeidskopsr, Jena ~ Dsnntsteun cad Jeha u
Whoeloek