New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-28
LIABILITIES or METER & co.

HE TOTAL NOW BELIEVED TO BE SSOo'OoV-fUh-
THER DETAILS or THE FIRMS OPERATIONS
The liabilities of Meter s. Co., the Exchange
r,soe baukers and brokers who suspended Wednes-
day upon an examination II the books ana pr'H' az
counting appear to be fully 100000. The heaviest
loser except the athersInlaw OF the two Meters Is
James Keene the California spCculator. who suffers 10
The extent Of $4,000 This sprincip3y the GlheeheeS
uad n redeeming railroad bonds and other secuilles
which had been ropedeed by the Meters On SlOOooo
NevYork Central fist mortgage bonds on
WHICH they had loaned the face value the Mel
trs obtained loan Of 1000 from the First National
Rank thus gaining $4,000 to for loans at lower
rate Of interest than market quotations. which was tef
speeiaty Davis Freeman borrowed from Net'er q" ~
$50 COCOON $50 600 NewNOrk Central BOMBS lhSe were
rcpledgei 10 Maitland. Phelps Co. for $4,000 ana
have been restored like those held by the FIRST Nalon"
Rank 70 DAVIS & Freeman, upon the payment OF cue
fll amount loaned and in trust Bon these oans were
made on account of James kcenc
Apotbcr o. This class OF operations was with the hrm
Of Edward sweet & Co., VINO borrowed OF the No'teIS
$4,000 on $4,000 United states bonds Inc Neuefs
gave their check for the amount, and Immediately de-
osted The bonds with the American Exchange Bank ior
loan of SO 800 thus meeting their check and having
small balance They had previously detached the Janu-
AIRY coupons, which gave them ) per cont nuio
IN gold. After the suspension they gave M''
Sweet an order for the bonds. but upon learning
that nc must pay the January interest in addition 10 e
increased amount loan refused 10 take the seci
ties stating that could purchase for less amount I'd
the omen market. This transaction Of Meter q CO.
causes similar loss 10 the bank Instead Of TO sweet
Co. the original owners OF the bonds. kuhn' Loeo y
90 are also anon. the losers. 10 is stated that they
made loans 10 Meter & Co. various classes OF Dohs
AID sold them when the suspension was 4nnnuuVV'5'
Tle or ginnl owners WO;drn L@ycUch ana T. 0"oe. .
O. have demanded their bonds, thus iorcln& iths'
a. Cnau market This causes small Joss 70 hEHh'
Loeb a Co.. addition 20 the Sl4ooJ fott.Seo Hi' vi
CINCINNATI. which they Cashcd Tor the NcttcI~. -,
DreYr Morgan d Co made q loan OF Tz'u'OvV ~ toi.
t. lie METERS and in the aGusne OF accouhi i"sc
small amount. not exceeding Sl,uoO MORTON DIS ~
q IN, Rank of New York. tIe United STATES Ilust
Cnt,.py nd the Chemical Bank, made loans 20 N"ltf
a. and are all amply secured, or have lteH pam ~
fDU by the rcdcmrHluu 81 the securities. VI 'ioI-'h
Sons held Yer NeW-OHeans customer o4,V"J l Lou
isiua Sta.e bonds on which they borrowed f'm me NJ
tels $4,000 Tucst secUliue, ire Meters Npthecltc9
Tor 10000 mLkisg less oi 10000 To TIC customer re-
nr,s.Dted bv NJ MorEau's sons. G. Il. Ravens
4 Co yesterday obtained an attachmcnt aIuhsl
Meter a Co., which served on MI "rhl' tit as
slgnct The SUIT is TO recover ANY OF tht iLiht -
cuif,s which may b. in tbs possession OF IN, hih
az hi. .s,ifcc Prom statements made ny the SNshet
il appears thlt Neticr& Co cd as securities ioi tos
10 sveus a Co.,. bonds to the amount o. H4uOVOl "a "l
Nbr', were subsequently, hYpothec3cd by the Nclei
ard are distributed pa various OhiNHs Wsu
Irrs H., cola.rl.s fJs lucg ascd loans. II Is c''l
mated thm IN the red mrtion Of the securities
nav Il. & Coz Will suffer Joss of ~2NV'o Tue assignee
heeves tna thc spccu auons Oh the NetttS arc
nearly covered aud lie t1dt TIE Only trahStcI"h ia
fhat Iuc CsiauainL j. "stridde' ON 2Oo snare, "l
Lake shore. The tot liabilities OF Netel y O ~ a4
as can n- learned ~ present are As follows;