, 1877-12-13
Failure Of Two More Large Dry.
Goods Firms in New
York.
Reasons Atls1ucel by tho Metro.
pOlftnn Press for These
Disasters.
Wreck During 1877 OF Eight Inn
portant Firms in This
Trade.
The Newark, N. j., Savings Institution,
with Deposits Of Slloo0,00o, De.
cides to Lie Down,

DnY-NOODs FAILURE.
6ottfas ntspdIehto To 7A< Cafcaan Tribune.
New fons, Dee. 19.-Thc loss Of trade 10 this
city is q constantly recurring question. In an ut.
tseae referring 10 tho failure Of two large houses
to.day, tho 77mss aays: "Hustness men nssort
that tho drJ.aoods tohbln1 ttAds IN fat
being taken away from Now York by
the establishment Of tobblng houses In Chicago
Cincinnati. NJ. Lonts, Louisville. Toledo. Buffalo,
and other interior ct!es Tho sales Of Field Letter
= Co., Of Chicago. last year, amounted to oycs
FIT, 600, oo0t an increase oTer the previous year
| OF II, 600. Goo. and those Of ollIets in tho
cities mentioned haSp hcrn in like proportion.
tdrac proportion OF this business Ia drawn fron
New York. It has been mHIc pusslbo by the
course OF tho trunk railroads, whose through
freight tariff for eoye.ai years has dlscrnInatco
largely In favor Of tho inferior. Tn tho othcr
hand. snca Jan. !, no less than eight Important
New York concerns hAve gone ont Of business,
These are: Emory, 10y s. Lee. failed; Opdyko,
Terry = Steele, liquidation; Cochran. Mclean 4
Co., failed; John II. Wcntx 4 Co., voluntary
1tqntdatton; N. Sullivan b Co., voluntary iiaul-
aation; Fay. Hsgan i Co., failed; Adrl-
ence. Rohhfns Co., and James Leahy,
whole failures werc announced so.dny. Tho ntm
OF AdFfance, Robbina 4 Co. has been In buntnesa
over afty.sevcn years. Tie drm hns Always been
very respectable one. 1t occupied medium po.
sltlor, mover having attained to the promnepcs Of
SteWstt = GO; OF Elanin : Co. In Oeto',er last Mr..
lto9h!ns died. and, his estate bctnx hound up, the
Credit OF the hrm las boon somewhat criticized
bccause Of a dbubt VI lt4 auccsss without he a..
distance. This hctpuh frua&ly to weaken
u. In Aagnht tho Grm reporlcd tn i,abili-
tics 10 b. 3t44, ,N00 AnA its ns-cts 3nl4, utHJ.
This WIS Immediately after an a*ters,uent amount.
ing to $40 900 had been u1ade upon tho individual
members OF tho 1rm. To-day the drnt nptIu an ~.
siRnRlcnt 10 Mr. lcoE9e Gilbert, Of Mci.crson &
ltonhns. tho Wholesale drngRatA. ar. Altiauce aa[d
ha tonla not st&tc tue FIRMS condition at preteut
lle Thought, hoxotsr, the liabilities would not
amount to "rer S1U0, 700. tntsidr they nse etu.
mated at 5000. 600. and the nasets ut taf that sum
Mr: Adtiahco aAil tho death uf. Mr,
isnbbfHs had been tremendous tosA to the
selling business of tho cunccrB an m tnstaI&, uf
thc al,r!nkasc In values. tho Grn, had hecn rtu,-
pelled last week to sell for Ii cents gous Tint It
hah. purchased last spfInx At 37t ceuA. This
.hrinkagc hah been the result Of tho Immense
s&'es OF goods at auction consequent
IN the recent retirement Or faltnro Of
70 many firms. SIR. Attrlnncs fa{d tho drm had
been compelled to suspend ones befUrc, ia 1857,
but bad subsequently paid everything. 1t had
gone through all The other financial panlcs Of
tho country unscHlhcd. When tho 1ncnibrrs nut
IN, fresh capital In August ast thuy honestly
belleYed that With tho lar1o crop4 and ntlrr syi,s
81 Increasing hnsncsa. fair fntnru wAa In storo
for them, but they Ind been sny dtaappuintrd,
James leahy,, general Importer Ut wonIcn
goods. xsaFa hls credit has been wenku,cl
by Government snit, brought four years
aRo now suddenly revived. on q chntgu or under.
ya!u[nv goods Ilta liabilities nrs rail to he $780,
o0O, and hin hAaets $1tD. U0D. His transactions
haSs been heavy, amounting to million 4 year."