New-York tribune., 1876-12-01
BUSINESS CHANGES.

NEW ARRANGEMENTS FOR NEXT YEARS
BUSINESS.
PROPOSED CHANGES IN BANNING AND DRY GOODS
CIRCLRs-THE CANADIAN BANKs-DIssoLUTIoN
OF OLD BUSINESS FIRMS AND FORMATION OF
NEW HOUSES.
Several changes have been made recently in
the officers and representatives Of the Canadian banks
which have branches In New.York. Onehalf Of the
entire amount of sterling exchange bought and sold in
York is furnished by the agencies OF these banks
Hence they occupy positions OF Importance. Very few
Newly York banks sell sterling bills their correspond
ents abroad. That profitable and important business
seems to rest mainly In the hands OF large banking
firms and the Canadian banks. Tho explanation, per-
haps may found in the that the Canadian banks
all large with capital ranging from six TO twelve
millions. and with deposits OF equal amount from
Canadian customers nearly all Of them have offices
in London Consequently their facilities for dealing In
exchange much greater than National banks having
smaller capital and without such connections. There
four Of these Canadian banks-Bank Of Montreal,
Bank of British North America Canadian Bank Of Com
merce, and Merchants Bank Of Canada
The Bank of Montreal, which has capital OF $4,000
900 and deposits of about s 10000 managed by
r. b. Angus OF Montreal aud strong board OF directors.
1t pays regular dividends at the rate Of ii per cent per
annum. When managed by f. II. King it much
moro speculative than now and upon than oc-
casion the New-York gold market was coDyulsed
by Mr.: Kings operations, but since MT; Angus
has been carried one IN quet prudent nanner:
Its representatives here for many years have
been dissolved recently and frm formed, consist
ing of Messrs SmIthers & Watson. The partner.
WAS for man Years agent for the Bank o British North
America. He was afterward partner IN the rn OF Nor
General Manager OF the Merchants Bank OF Canaea
Richard Bell, wlo for many years occupied the eldag
position as representative OF the Bank OF Montreal re-
res from active business, the bank testfyDg IFS appre-
caOn OF his long services by liberal provision for Lis
tue Of british North America the changes are
very important. Mr. NcNab, General Manager, has
signed and understood that his VIII be K
X. Grinday, recently The local manager at Montreal
position OF New-YOrk agent about two years has
also resigned. His successor is Duncan A. heIaylsh,
wekHOwn grain dealer III this city, who VIII assume
Tlo Withdrawal Walter Watson from the Merchants
Bank OF Canada left vacancy which has been nled ny
W. j. de b. Ingram, who has practical acquaintance
with the banks affairs.
NEW PARTNERS AND FIRMS ~ DRY GOODS.
Among dry goods houses several important transi
tions are in contemplation. Some time IL was an
nounced that L. NJ Bates Co., the extensive jobbing
Broadway BrOomest., would be reorganiZed,
taking in MI Reed Of Bartlett, Reed Co. II is now I'M
derstood that the arrangements completed and the
new firm will be known Bartlett, Reed & Cooley.
Tie junior partners Of Bartlett Reed Co. have mads
I'd new firm with some outside persons under the name
Of Wilmot, Davies & Co.. and viii occupy the building
at No. 355 Broadway. The new concern will have ade"
quatC capital
A
der the Of Merrill, Disney Co at No 10s GTandst
The partners were formerly connected VITA Mcssrs.
Mills u Glib, and are well known in the trade
In the dry goods commission trade there is new house
I'm Wortlst. under the OF Keysef, Townsend Co.
Mr. Keyser was for many year. q partner WIN W.
Langley & Co W. c. Langley & Co. continue with the
admission OF Mr. Goodrich and son OF lhe senior part
n-r, WIN. Langley The Old firm Ot Goodrich * LOCKWOOD
dissolve and 20 out OF business a.,
new Incorporated company under the name OF tho
j. NJ Bradstreet son Company has succeeded the frIa
o. that name IN the CONNER Ical az hcy business, &
Bradstleet who for some years mas Dech az ie neu Ci
with Charles f. Clark, who formerly superintendent q
branch Office. few Of IN largest creditors OF .the Old
1u IL understood, have takn stock IN the new com
pany 20 the extent OF thelr ealns ana nov Soroi % ~
but whether not the company are hable Tor INC
debts the firm is question as yet unsettled IN Ile
mean time several Of these creditors, among whom are
cnploy6s OF late hm have begun proceedings WIN
a view upsoung the transfer and preference OF more
favored creditors These contestants are oneTSu ntX &
cents the dollar Dy the new company WHICH "1n
n is said that the fancy goods house Of Storrs
Brothers Of Worth-st. viii dissolve and new nrm %
junior partners relieving the seniors rom thc ues Vi
the business , , c,, S.. .,
Co. of Wurhs will dissolve at tle end of the year. ana
Mr. Stewart viii retire The WOODEN business follows By
Tne spocal ,,rneT in The firm OF c. II. & f. d. Blake.
IN the dry goods commission business, having fecehIy
Tie recent death of william Lattlmer will not make
Necessary immediate cnauge IN te business OF me
firm 81 William Latimer Co. By the PROVISIONS OF me
Will the remaining partners Jerome L. Hill and Robert
W. Nesbit continue under the od name, win al tle
aIital VIM. Lattimer for the use OF the business 4hs
firm IS prominent in white goods, mces, &c; ,
The firm of &c rye }. Byrd * Coz which have been
leading house in the umbrella trade Tor many years, u
dissolved by the death OF the senior partner junior
partners, George j. Byrd and Dir. Cawley, have made
up IA new firm the former name with the widow
oi the deceased senior rs special partner. 49,
Assembly, " IN retire on Jan. the firm bearing bis
name firm, consisting OF some OF the junior part
ncr forming, and the business wiz be carried Oh Wlt
Henry A. Tanshawo, importer of dress goods, at No
400 BgOome-st, will retire at the end Of tie year.