New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-02-10
BUSINESS DIFFICELTIE5.

SUSPENSION OF LARGE COAL COMMISSION FIRMS
AGGREGATE LIAHnIlIEs NEARLY 100000
pACKFg 4 co. EXPECT 10 PAY IL FULI.-EAu-
UREs oP OrHRR FIRMS.
Much surprise was manifested yesterday nj
the Official announcement TINT the coal commission
houses Of f. A. Packer Co. T.. II. Ely & Co.. and Bra
man & Hartwell all in Trinity Building No. III Erond
way and the extensive coal nrm OF T. H. Smith Co Of
New Haven had suspended Tho total liabilities
ported TO be sbout $500 Tho members thc Arm
Of T. A. Packer & Go. expect to pay IN full and
They have made assignment to william r. Carter The
head OF q Philadelphia house which Is among their
largest creditors, +. T. Robn-on md e. Il. Plst Of this
city Applications to Messrs Packer & Co. yesterday
elected the Information that they preparing
n sta,cmcu: for their creditors. Mr. Robinson
one OF tLolr as.ignecs. stated that the assets
were believed to lie than enough to
cover all Liabilities. On Friday night tho firm
was Informed by g. II. Smith Co. OF Ncw-IIayen that
that house must fall II Packer Co. did not aid them
Messrs Smith Co were owing $6l 900 70 Packer CO..
supplied by Packer Co. making their total ndebt
edness To- rch & ~ 90 70 ,bs n. 81 n sh
and their crcdiiors I'm addition. for S33OOo. Com
bined compelled Packer & Go. 10 suspend. n.
they earn ying 10000 tons Of coal Of their aud
10000 more on which they had made advances. They
had been obliged 70 receive much coal under contracts
which they were unable t. place In OF the
continued iullness Of the market.
mate ~ the os..ts and liabilities poth wcro heavy Tic
lrm Of Packer Co being the largest coal commission
h'use in Nrv-Ymk and doing business OF GOO 900
tons a year The nsses, however were LARGELY IN o.
cess, rcuding valuable coal rrorcity IN Pcnnsyvana
and virginia Tue firm would only ask FOR extension,
and would be able TO pay all claims In full. He rst!-
mated the liabilities OF Smith 4 Co. at S20OO0O This
house large amount of real estate In Connect
cut and this prccipita-d ts failure IL unable to
carry n in the dull state Of the coal trade.
Dir Ety. OF Ely Co., declined 10 furnish statement
Of bi- fID's affairs Lut regard 10 the ~ the
failure said that his house had Invested large
of money in collier in the Inhigh region, which was
compelled TO suspend orr during TIE mr. six months Of
1875. and Lad been = source % great expense.
The failure Of bernhard nOchsndticr, lace dealer at
No so Grandst and OF Taylor. Gibson WILSON, buotn-
d. alo!s ut No. as BrOSmest, were announced ycser-
day.
Jacob Campbell 81 the three nsenees Of Jchn ID.
Phillips. vino recently mhie assignment for the irne-
tx OF IeGors has been relieved ~ bis Own rcgutCt from
further ierVice ~ assignee by Judge Lawrence. lie
iyes for his request that ho ASST 1ned prop
e.iy consists 81 large amounts OF real estate Ia New
lOr requiring con t.nt personal attention ifOu
si.1ee, and his ggt M MT lead lin frequently out
Of town M to prevent such attention.
MOrInrr ID. CUufiin. dealer IN produce ut No. l6l
Chnubcrs-st. who recently made assignment for the
benefit II his creditors 10 James H. tarup, has made
Arrangement for compromise at 80 cent the dollar.
cash. which hrs been accepted by the creditors aud lie
has Te3lIded business Ills liabilities estimated at
yer $4,000.