New-York tribune., 1876-08-19
STANDING or NEH4RK FIRMS.
EXAGGERATED RUMoRs or FAILUREs-oNLY FEW
SMALL CASES OF BANKRUPTCY.

EXAGGERATED RUMORS OF FAILUREs-oNLf FEW
SMALL CAsES OF BANKRUPTCY.
For more than week there have been vague
rumors upon the street of numerous failures OF pfo
neIt business men in Newark, n. j. Although thcSe
rmors have been boldly stated and have been brought
TO ihe attention o. several OF the persons interested u
has been exceedingly iihicuit TO obtain anything IKE
substantial or accurate facts from responsible persons 10
confirm the otrepeated sacmentsO Of failures ana hh''
cia! Cmbarrassmcnts Last evening reporter Oh 'hE
TEEINE called upon Daniel NJ Lyon, President OF tEe
American Trust Company on Isaac G3si"n' CASHIER 'i
the State Bank, and several other gentlemen
in Newark engaged in banking .cul estate, and
manufac:gri. who in positions which gave them
special facilities Il Information and Also where 1t was
possible upon the who were most affected by ti'
Tumor Ii was stated that the Wild speculation in r"
estate Of tie past few years lad eutNnclcd numerous
persons who had been carrying load OF uipr0id,tNe'
and at the present time unstable property. Hoping
for improved times and return Il OH values hese !'I
estate spectators had STAYED oG bankruptcy o"y by the
most sziful uanagemcnt, and, IN some instances by
most ruirous usury These facts, W,uch were vel
known m the cOluu unity. n ~ Thought, probably gave
rise to the panic ruruos which yesterday aid Hnoh
every street corner in EcwNork II most oi the eases
the rumJrs have been entirely without any basis o! ia'i
Willie 1t q true that there have been sona failures
These however aIe not Of sufficient magnitude 60 caa.a
apprehension OF any serious disturbance IN bu'in, 81,
circles.
George Holden q coal dealer at Ccntrc-st wharf aud
ia AcadonIy-st.. Newark. has called meeting O. IVA
creditors ana one OF them sail last evening that hc
could not under any circumstances resume business.
MI Holicn's Ii b!liic reported at S3JpOu, ana
the assets al q very much smaller loant, but ne
creditor said at 10 though: the figures we're tte t"p
high lie was unwilling To state the amount OK the
liabilities until after the meeting of the creditors.
Wyclof a CO. coal dealers in Morris aud t'>cN Ran
roaaave were rcpurtedto lave failed. EctheT member
ot ;ho firm could be- found but their business WAS
transacted as usual and President Lyon of the American
Trust Company STAGED most cEpha'icay that he De-
lieyrd the ri.mor VAS without foundation.
H. W pnnicg trunk aud bag manufacturer IN Beaver,
near Market s., has failed hld, allowing small Jud'-
nen,s 70 be- entered up against him The amount OF his
liabilities viii 3e made Enowa In few days mce'n-
Of creditor, having been clcl The reported failure ci
the Peters Calhoun Company. cytonsye AITosa manu-
fac,urcrs is without foundation. Mr. Peters is a
large prope1.v-ovncr, an Oh citizen, end careful bust
rcss man. MI Calhoun is man Of wcdlt, and s Pre- 81,
dent og the Fourth National UluK o. NawNors and thc
cor1ralv has the strongest ianra b0cing Mr.
Peters tHe head uf ih- company Ard 10 me T'''t'r
last evening Aat hc iGusc Ind heard ttc lh"I wees
ago, ana greatly annoy |t l'frrut &iA was ti tI
M on ortuuity 10 publicly contradict y. tie slid hc
crucriu was IN be. thy c0nnitIOn that u WaH iurcl
all its paper had jIst paid or al thc "ofhmcu lh !U'i
and .a iar share q! pEs!hea, WIN sood 'a'' ""A
Eaieu 4 crane maeh.n.sts at Morris and Es-cN Rail
rogdavU and Plan. have not i.ed, - reported, al
pTU,a'ut rangcr- say thai te{ are not ~ c'hLci "I
failure. Their crrt II good III" rEipr grew ont o. q
lacs OF legal knowledge in relation 10 sale under mort
SIo. II. 4 T. " McClave, lumber merchants, whose
wards are in Harrison and who sp"cui1trd largely
in suburban real estate which ihcy erected dwelling
turing paper meeting OF their creditors has been
called.