The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-14
THE ABSENT COLLECTORS.

HILDRETH AND TIGHE's BOOKS AND PAPERS
NEUTRALITY-SUSPICIOUS. OF THEIR CLIENTS.
The disappearance OF Messrs Hildreth and rghe, Of
tho law and collection agency OF Watson j. Hildrcth
Co, has created no little excitement in business
circles The responsibility OF the two mon and the
supposed stability OF the business to which they sue
cecded couple OF years ago seemed to render them
above suspicon and OF their large clientage probably
not single firm would put reliance in any report
suggesting dishonorable dealings. When, therefore,
the fact became known that assignment had been
made and that the we'll known collectors had betakcn
themselves to parts unknown, the news came like
thundercap. Now tnat the shock has passed sur
prise has given place 10 indignation, and the feeling
among the creditors OF the bankrupt frm 10 one OF
unmixed bitterness One of the heaviest losers says
that he would give $1,000 70 have the mon in his
power. Tho whole number OF clients Of the delunct
firm Is understood TO DO nearly. II not quite, one
thousand, though only comparatively small minor
ity are losers.
From the 9th inst, when the assignment was made,
until Wednesday. whom the Office and s contents
were seized by the United States Marshall the books
and papers Of tho firm were the possession Of
David Gen,il, the assignee, who made careful in
speclion OF the cash book ledger and other books 1t
is his OPINION well that OF the bookkeeper that
the total amount oil tho delcit Will not exceed
$4,000.
INDIVIDUAL LOSSES.
The largest single loss does reach $1,000; one
firm loses $4,000 end another nearly $1,000 Tho
scarcely any exceeding 0Oo bnl ranging variously
rom $50 10 $500 The petition for adjudication OF
last, contains the signatures Of Mossrs Bax-
ter, Bell Co., dealers In paints, No IL
Murray street, whose loss Is slightly over $500;
$3.50; A. l.. ohpmans sons, binders, NOS ~ ANN and
10 Murray street, about sl25; T. r Rsaaolpn Co,
Moores Sons, about $500; VIM Il Weaver, mer-
chants, No. Al West Broadway, ABOUT $685. Davidson,
Love- hSSsa0a Co.. cosss su aaSsn ssrss about
$500; McFaddln 4 Hutton, about $3.50; Sanford >.
Srupley, hour No % Froa. street. aDes. slSo John
S n Vance Cow gas Gnsarss. 49, No sss ssosS S
Burns, ARTIFICIAL fowArs No. 80 Union square, aud T.
Stsnhard slks NO 40 Howard street. are also losers.
lighe. or Gsnt, their assignee, 70 show cause why
the nrm OF Watson J.. Aildreth & Co. should not be
declared bankrupt u Is returnabie at the court
A. NJ. Meanwhile The books and papers OF the firm
have been locked up In the safe a. tho Office, and are
In charge Of the bookkeeper, who acts as deputy
marshal On Monday morning next they Will be re-
moved into the adjoining room and examined by the
Marshal tor the creditors. The Office Is open every
Jay until four or hve O'Clock
ALLEGED ExrRAvAGANcE.
The cause OF the failure OF the nrm 70 meet its liza
bilties held by the Dookkeepcr TO have been the
travagAnce OF the two men, Hldreth and Tigne.
Their annual profit NO says, was about $4,000 and
Each momber Of the Arm took about S., 200 year
for personal and family expenses. For their hand
some Office, the second story front room over the
Trudesmen's National Bank, corner OF Broadway and
Keade street, of which the rent was formerly 200,
they PAID $2.2o Tor salaries, over $4,000. makinga
total OF SIS, 200, which, with other incidentai ex
pvnses, shows annual dturo OF about $50 000
This 0i course could not 70 on very long without
bringing matters to y crisis. MIR. Tighe attended to
business regularly until the day Of Ills departure, the
| 4lh InsI, wnen he left abruptly with bundle OF
paperwhich had been yipg on the table, Nj. Hhdreth
| disappeared on November 30 For Two or three days
previous word had been sent 10 the office that
~ his house u Lexington avenue unwell II was un-
| derstood, however, that he was not at home but
somewhere the neighborhood OF MS Office On the
BOTH he made his appearance there ~ iour O'Clock
the afternoon and remained about an hour, showing
| signs oil preoccupation and anxiety.
who $50 salary Captain Barrett OF the seventh
regiment, VINO acted as socitor Mr.. Edwin 5. PRIDE
who hud received substitution OF attorney from Mr..
| Tighe, and Office boy. Captain Barrett aud
| Mr. Pride are both losers by the disappear
| ance OF tho employers There Is nothing re-
maining by when the CLAIMS OF the creditors
| and employees can be settled. The hrm. which
Was perhaps the best known IN It's line OF bust
ness this country, owed s reputation 10 Mr.. John
ii. Walsou wEo alter iaii,ng IN the dry goods bust
ness, established collection agency III 1851 HIS
brother, b. H. Watson, Colonel OF the SIKH Massa-
chuaelts regiMent was associated with him. he alter
ward took Mr.. hidreth. his Dephew, into The urn,
ana laer still admitted Mr. Iighe, who formerly u
| assisted by "A number Of young attorneys. HdTeth
L. Iigne assumed control ON January l, 1876, in the
name OF tho siormer, though, AS Mr. Watson SAID
Yesterday hc himself had taken active part IN tho
bus ness since 1868. He has Idea OF the where.
OF his nephew and Mr.. Tigne, but thinks tncy
took but little money With Them. Their families are
sorey distressed, having IL ID stated, been lcil un
prOviued Tor.