The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-02-17
BUSINESS NEUTRALITY-SUSPICIOUS..

George F. Phelan manufacturer OF billiard tables
No. SO East Fourteenth street. proposes to compro-
mise with his creditors at thirty cents the dollar,
payable in notes at four eight and twelve months His
Liabilities amount to $41,207 40, Of which
$40, 2SS IA is secured His assets estimated at
$50 1o4 49, Of which $40, COS 20 consists of stock
Bankruptcy proceedings have been begun against
Ephalct wickes, oil renner No 122 Maiden lane who
made an assignment time ago to the Devoo Man.
ufacturing Company. The petition is made by John
f. wlnslow and Thomas S. wickes. winsow's claims
amount to $23 900, for money loaned mortgage OF
the Hudson River Oil Works at Bulls Ferry and for
rent The claim OF Wickes amounts to $4,000 for
money loaned.
NJ H. Backus h Co., furs, No 76s Broadway, have
been forced to call meeting of their creditors They
submitted statement showing Liabilities amounting TO
$40 600 and assets at $430 CO Owing to the extreme
dulness in the fur trade since December 1t was i'm
possible for the firm to convert tho stock into cash,
cept at a ruinous sacrifice The creditors submitted
proposition to accept compromise OF fifty cents cash,
and all but two signed the paper The firm failed in
April last but resumed business having made salts
factory arrangement with their creditors
James Schesser, jeweller, No. ii Maiden lane sent
a circular TO his creditors yesterday asking an oxten
sion of from three twenty four months. His labil
ties amount about $35 0t0 while his esti
mnted at nearly $4,000 Mr. Schliesser has been in
business for himself a comparatively short time, but
his creditors appear willing to grant the extension
The meeting OF the creditors of Howes Macy did
not take place yesterday AS II was announced would
No dividend Will be declared by the assignee j. Nelson
Tappan until the termination Of several ltgatons
which the nsolvent firm is concerned, and which
gong on.
1t was reported the street yesterday that the WE'LL
known firm of Harris, Richmond n Shafer importers
Of cothiers' ana taors trimmings, OF No 500 Broad
way, had failed A HERALD reporter called the
office of the firm TO ascertain whether the rumor was
true or not and was told by Mr. Richmond that the
firm had nothing whatever TO say In regard the
matter. He neither denied nor affirmed the report.
Harris Richmond Schafer succeeded Messrs r. II.
Dale 4 Co. in 1870, for which house Messrs Harris
and Richmond statesmen. The present firm at
the time OF their accession to the business Claimed
capital OF about 500 OO0 and for number OF years.
did good business. Recent reverses and deprecla-
tion in the value Of stocks, however, have depleted
their capital II is presumed that their liabilities
about $3.50 900. Personally the firm has been favor
ably regarded
The creditors Of Messrs Qumby n Co.. manufac-
turing jewellers OF 40. 1856 Broadway, who failed
eral ago. held their rst composition meeting
the Office OF Register Fitch No 3i5 Broadway ycster-
day. and agreed to accept thirty cents the dollar at
three six nine and twelve months. The liabilities Of
the firm $4,000, and their good assets, $50 600
The first meeting OF the creditors OF Disosway &
HATCH leather manufacturers, OF No 10 Ferry street.
was held yesterday at the office Of Register Williams
No Warren street The offer of thirty cents on the
dollar secured, at three, and eight months, was
accepted The liabilities OF the insovcnt firm amount
to SSl, 500 IA, and the assets, $50, 400 co.