The New York herald., 1877-10-17
BUSINESS TROUBLES.
HARD TIMES sLAuoHrxnrsc THE BUTCHER

HARD TIMES sLAUGHrERIsG THE BUTCHER
The numerous and heavy failures in the wholesale
butcher business s the main topic OF conversation In
the trade IL is believed that the end Is not reached
yet. Several more failures are anticipated and The
query is what firm Will be the next victim. George
stransc, wholesale butcher. OF No $50 First avenue
has effected settlement with his creditors; his liza
bes amounted to $l67. DAG "a, and his real assets
were valued at $685. 100 az The terms OF the settle
ment are thirty cents the dollar, of which twenty
Is cash. i've cents in three months live
in SIX months Endorsed notes. The banks which held
claims for upward OF 100000 paid in ulI in notes
At six nipe twelve, fifteen ana eighteen months, So
cured by real estate.
The settlement OF Lehman Levi Sam ues, beef ex-
portes, oil First avenue and Forty fourth street. who
failed last month, OWING nearly $500 900, has been
consummated, all tho creditors the
lu,lons accepting thirty ihe dollar OF which
twenty live cents Ii casn. and tho firm Will
meeting OF the creditors OF Lewis samues, whole
sale butcher Fortyfourth street. Frs. avenue
whose failure occasoncd BY that OF his brothers.
Lehman ana Lew, was ned Ut the Office OF Mr.. QUO
liorwuz, his attorney, at No. 293 5roadway. An
offer made on she part OF Mr. Samues 10 compro-
mise twenty-five cents the doilar--lfteen cents
cash aud ten cents IN 'notes-and statement WAS
submitted showing liabilities Of $780, 900 assets Of
SIS 000 Tho proposition was accepted by the meet
Ing and nearly al loe creuilors ssned tue paper.
F0rty. y.seve enth street, VINO made an assignment 10
Henry Eisnor, have Liabilities amounting TO about
$40 900, party holding claims Tor SIS, 000 On the
day they filed tneir assignment they were defeated
in u appeal against judgmeat Tor about
$2,00U Messrs. Stilwcli Swain their attorneys,
preparing statement Tor The creditors, which will
finished IN . lew days.
The liabilities OF Charles Kaufman, wholesale
butcher, OF No. GIG West Fortieth street, who has
made an assignment for the bcnent OF his creditors
amount to upward Of 100000 and his real ussets are
very small in proportion.
JOSEPH Loewoll, wholesale butcher, OF No. All East
Forty NTH street, whose failure was announced re-
Gently about $50 000 he claims his liabili.
less, but The trade reports hod TO the
figure. Hc has been IN business over twenty years,
and worth 500, 900 ten years ago, considerable
portion OF which was IN real estate. since tnen ne
has made number of bad debts which haslened his
failure.
A meeting OF the creditors OF Brown n Gorhau,
importers OF foreign irus the o Front
and Coentcs siip, was ncld yesterday to receive u
statement from the firm and decide how tho affairs
should be conducted The statement submitted shows
aggregate liabilities OF S2l2459, and ets $l3S 94
winch includes merchandise, the vaiue o
which Ia estimated ~ $65,S7l; accounts due
1879; bills receivable ST.. .SS0 aud cash, 3,524
Tho above totals do not Include the real estate owned
by tho firm IN this CITY and IN Chicago. The two
are niortgaged for 1000, the present value being
unknown. The Chicago property cost $90,UO0, aud Is
subject 10 mortgage Tor 100000, aud is present
value is also unknown. large part OF tho indebted
ness held BY banks In this city and tho argssi
chandHe debt 70 that Of Phelps Brothers Co.,
amounting V about $4,000 After an interchange Of
itors to make examination OF the firms affairs and
submit report At future meeting Tor bAss OF set
tlemenL Inc committee appointed consists oi Frank
Phelps, Of Phelps Brothers x Co. IL. X. rhurber, OF
II. X. Il y. b. Tnurber Co., and William W. Wiley,
OF Wiley, Wicks Wing
Proceedings were begun IN tho Supreme Court,
day wind up the French Manufacturing Company,
II has beop nsolvent for two years. ind has Jailed
to pay note OF $1,000, made May Is, 1875 s. W.
Comstock has fled an aidavit setting Iorlh tho COM
pany's Insolvency