The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-07-18
BUSINESS TROUBLES.

FAILURE OF LARGE woOLLEN IMPORTERS
lroRs' MEETINGS BEFORE REGISTERS IN
BANKRUPTCY.
The failure OF l. Blumyart h Co.. OF Nos Al and 40
White street. announced yesterday. They
importers of Moollens, Italians and vest goods, and
their failure is of the largest that has occurred in
importing trade for several years. Great surprise
caused among tncr creditors and IN the trade
orally, as 1t was known that tho firm had command Of
large capital Their liabilities placed at $500 000
but tho exact amount Is not known, the books
incomplete and It will take several days before state
ment be prepared Tho firm has made advances
on large quantities of goods consigned to them from
Europe; they have u considerable stock in bond aud
also III their store, but the value Is not known They
have lost great deal Of money by failures be-
ing TOO liberal in their credits The lrm star ted
several years ago by Max Hessoiberger, wealthy
tired Bavarian banker who put $500 in tho bust.
ness to keep his mind occupied, and he took up TWO
young men, L. Blumgart aud Felix Lyman, establish
ing them II. He then resided III Bavaria, but
Gently hs came TO this country and Ia here. Tho
young had capital Whatever, except experience
IN the trade. Lyman, II Ia said went heavily into
side speculations, and recently effort made
ket him out OF the firm through tho appointment OF
receiver, when was successful NwiI he remembered
that tho firm was sued some time ago for notes
jury were consured for their action In tho
matter 1t Is also stated that the firm lost
q grout deal Of money IN taking chances the
purchase OF gold and they recovered the losses
sustained. Their principa Indebtedness Is held by
creditors In Europe, three firms in England having
Chains for upward OF 5000, QUO, ont being located at
BradIord. Their liabilities ia New York are not con-
very heavy, aud Is thought they will
coed $4,000. From present appearances tie Assets
very small In proportion to the Liabilities. In the
afternoon The members OF the hrm made an assign
nent for the beneht OF the creditors 70 Frederick
Lewis, brother Of Alderman Lewis, who has had
irns and realizing for the creditors lie iuil
value OF tho assets He stated yesterday
up the accounts, aud he hoped To have statement OF
the and liabilities ready before the close OF the
week. he wanted 10 send It to the European crcdI-
tors possible. He thought that tue liabili
would amount to the figures already gwen, but
to the assets he could not Tx any value until nven
tory was taken. The largo amount OF foods on
statement
OTHER DErUxcr FIRMS.
meeting OF the creditors OF Isaac and Henry Gold
stcn, dry goods dealers, was he'd yesterday At tie
office OF Register Dayton. The assignee, Mr. Edward
n. Anniidown nIed his accounts and was discharged.
dividend OF I'VE per cent was declared to the credi-
tors.
Register Little has received warrant In bankruptcy
against Homer S. Beardslcy, coihier formerly at No.
IS Fulton street, who been adudged bankrupt on
his own petition The principal crslisors are the iol
Charles Beards,y 26l 39 Nathaniel Berry, 81 600;
William 8: sampson, Si,25o; Albert Beardsley,
son, 81 900 %; Albert l. Aibro, 81, 900; Alfred f.
Mum, 81, 32S s.; Catln, Brandreth Co., 1854 40.
The toal amount OF the Liabilities Is about $685. 000
The Register has called meeting OF the creators to
be held ON July 23
meeting OF Inc creditors OF W. u. Grcanellc OF the
the office OF Register Little Only ono claim-,hat
OF +. G. NJ Blum, Tor sl2O0O-was admitted. and The
election OF an assignee Ia bankruptcy was postponed
Bcrhaus h Oliver, who Keep a general store
Marbletown, n. " have died a petition In this city
for position with their creditors and they offer
TO pay ten cents on the dollar.
Charles T. Churchill. who Jailed fcw months ago,
owing $26 000 applied TO Register Allen yesterday tor
his discharge from bankruptcy, and mono OF the