The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-13

AN OLD FIRM SUCCUMBS.

FAILURE OF ADRiANcE, ROBBINS AND CO., WITH
LIABILITIES OF ABOUT ONE HUNDRED THOU
SAND DoLLAEs.
The announcement yesterday OF tho failure Of
Adriance, Robbins Co., dry goods Jobbors, OF No.
800 Broadway, created some surprise In dry goods
CIRCLES For timc past the firm bat ting
with difficulties OF ar unusual character, and being
oil The Oldest ana most respectablc dry goods
houses in the city, had made every effort tho
disaster which has at last overtaken them.
The liabilities OF the drn, owing their method OF
dong business are not as large Is usual such
Mr. J. b. Adriancc, the senior member Of the
firm, stated yesterday TO HERALD reporter that he
did not think they would exceed 100000 with
regard TO the assets he ala not speak 20
confidently, us the losses vi tho firm have
been very great and the accounts not yet made
up. .'You win secn said Mr. Adriance THAT the
main OF failure rccilcd in the circular
which We seat to our creditors on the lfth inst.-
tho great depression IN trade, shrink ge OF values
recent losses sustained, difficulty OF Corrections tho
death OF Mr. Robbins aud other ttnngs.n
CAUSES WHICH LkD TO THE FAILURE.
"rhese words are not used without mcaDIng,n said
the merchant, with sad dgnUy. ''Wc speak nrst OF
all OF The great depression III trade sucn dcprossIon
must certainly have existed TO induce such arms ~
J. "a. Wentze Co, Wn.ot, DAVIS * Co.. Opdykc,
lerry steel, L. Van VsixonDursa Co. and otners
realize their stock he lowest and close
up their bus he apparent o. the dfy goods
ttede ibs CITY DID, IL true, iast auna the monlh
OF September, but since the end OF that time the
market Tor all kinds OF hoayy fall labrcs has been
al "a standstl. We have had either to part with
them less thin they cost or 10 carty them, Uoin
courses beng ali 30 ai-asfou~ Wlin regard To the
snrinkagc the values continued Mr.. Adrancc, II
would ask you wDctber you tank II possible that any
urn stand gdcr circumstances sucn as those OF
whIehsl will only give you sample or two We
IN stock Amcrcnn manufactured iancy goods FOR
wnicn NO pud the manufacturer 3Tts GEMS
same goois were sold Dy the manufacturers
nj 32i, cents, weeks subsequently Mt %
cents and weeks alter thar ai 40 GEMS, with
POI on aud nye per cent making the last net whole
market rcc OF goods Tor which paid - !, cents,
l2sI cents. How could aey nrm stand thatf Again,
Ebrpsh actufcd fancy dress goods have followed
sutt. aud various classes Of fancy aud staple
goods have deprecated Immensely. over such causes
the dry goods IobDer has no control whatever. But
hs may a answer 10 those who assume that
the dry goods trade this city "a In "A
prosperous aud healthy condition.. Furthermore
SAID Mr. Adrauc., there has been exceeding difficulty
Ia col Getting Deus We have had men coming hero
who owed u money ana We have becu Obliged 10 take
do lar sooner tnan ioso all We had oi SUCH ucDta
These were chiefly country ucbts. Tho men had not
the money TO meet them and we had 70 do the
could with thcm. Ibs substantially our case ana
into which tns untowari state oil thinss mas forced
We have, however, tho sympathy of all our
creditors IN our misior une-tnat IL ono nton.
HISTORY or Tug FIRM.
The arm OF AdrtnDcc, Robbins a Co. Is one OF the
oldest dry goods houses tho cry, and has always
enjoyed inc utmost confidence oI the trade IL MAS
lrst established IN 1920, at No. Maiden lane, under
the hrm name OF g. n U. j. Smith 4 Co. In ls36 the
INTO the service OF this lrm rs clerk and remained
with II IN tnat capacity until lsIZ fhe OF tho
hfin was ihcn changed to AirtAucc Strang Co., al-
ihoush Inc Smiths were stii aonasaied ~nA IL This