The New York herald., 1877-09-12
BUSINESS TROUBLES.
| FRANK LEsLIE's wILLINd CaEDIToRs-THE
| BUSINESS OF PHILIP sTINER.

FRANK LnsIIE's WILLING CaEDIroRs-
BUSINESS OF PHILIP sTINER
Mr. Frank Leslie arrived in this city yesterday from
Saratoga and had consultation with number of tho
largest creditors and Mr.. Isaac w. England the as.
ssnee, at the publication house in Pearl street. Cred.
tors representing claims Tor about $780, pres
en and his affairs we're talked over and various points
explained. The iull statement OF the liabilities and
assets was not completed IN time to exhibit TO the
creditors but the liabilities in round numbers were
placed ut about $500 00 while the value Of The assets
could not be gwen except by estimate Mr.. Frank
Leslie SAID at the conclusion OF the conference that
the creditors who were present represented two thirds
Of tho entire liabilities. They were oil very kindly
disposed, and expressed themselves as extremely
desirous that tho business should be continued ana
a speedy settlement be nude In answer TO u ques-
ton he said that he would not be able to pay the
creditors III tull, but what proportion he could not
tell until tho statement Of assets had been mado up
which will not DO until Thursday. There were no
preferred creditors. he said, not even members OF BIS
own family; everything he had was embraced In the
general assignment All The creditors viii be called
together Thursday, and notices OF tho meeting wore
issued Late yesterday afternoon IL is probable that
satisfactory arrangement VIII be made without any
delay whatever, the creditors are 80 very wiling to
grant any copcessiou
A meeting oil the creditors Of pliIip Snor, tea
dealer held Yesterday at the store, No. 40 Vesey
street. TO hear statement OF hls aFscts and liabilities
and learn at what figure he could make settlement.
Twenty creditors were present, aud Mr.. ST. John, OF
nayculeycrs & Elder was chosen chairman with Mr.
frispgo us secretary. Mr. Il, Y. boI! ue
assignee, presented report oi the assets
aud Liabilities, the names of Llc creditors and
the amount OF clam and made "a statemclt eN-
pIanatOry OF various portions of the exhibit The total
liabilities were given at $3.50, 0o0 WHICH includes tho
merchandise debts, real estate aud rentals. divided
follows erchandise 7o 900; real estate STA 900;
rcnials, $40, 900. Mr. Bell in his statement TO the
crcdors SAID that tho valuo OF tue assets was entirely
peruative account of tho large amount oi real cs
tato involved The real estate had cost 923I0Uu, and
Mr. siincr had boen carrying 1t since Apri, 1873 The
tins had been 20 great that nc could not pay
them tho profits ol bis business, but he had
managed pay them UP TO Within six months; ho had
been paying such hgh rents that the bus had been
carrica on tor the past six months. The real
fixtures ana book accounts we're valued ~ oO0 He
said that II some arrangement could be made with
the real estate Liabilities business could be re-
snmed at once; he also stated the causes OF the
failure, the shrinkase IN business and the losses on
real estate careful Investigation showed that IL
AFFAIRS should WOUND up the nccoGnis would amount
10 only a nominal portlon Oi the Indebtedness. Mr.
Crosby representing the Dycsinan estate, said that
every chancs would be given; and smother party made
tho iement that $40, 900 would bc thrown on the
mortgages If he couId settle up the other real estate.
Altcr the statement had been thoroughly xpainod
was evident that Mr.. Stiner could make no definite
oner at present for settlement. The creditors wcro
xious for nm business, ana they there
APPOINTED acomnittce consisting of Mr 81. John,
j. "a. seymour aud J. N IMicl, 10 look iUto the real
other assets and report AZ future meeting
Register I.itllc has adjudcatcd Isaac H. Carpenter
and Lawrence Carpenter, commission dealers, oil New
burg, bankrupts on their own petition. The nrm's