New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-23
LONDON PUBLISHERS FAILING.

SUSPENSION OF VIRTUE & co. AND OTHER HOUSES.
LONDON. Thursday. Aug. %, 1878.
It is stated in The Echo that the bills and
checks OF James Virtue & Co. Qnited publishers, OF
this city have been and being returned II s rep
resented by the debtors that the assets Of the firm are
double the Liabilities but the assets probably consist Of
copyrights stock etc, which not Immediately real
liable Several firms OF paper makers and publishers
are concerned the suspension and several banks hold
the company bills The publishing firm OF Daddy Is
I'm connection with the suspension OF James Virtue Co.
The bills OF Tnsey Brothers, publishers, No. Catba-
rine-st strand, are also being returned
The failure of the English publishing house
OF Virtue & Co. Qmited was announced yesterday. By
inquiry at the Office OF James s. Virtue Co.,
IN this city, It was learned that they were ignorant
OF the failure aud were unable therefore, to afford any
particulars The suspension Of the London house will
not affect IN any way the New-York firm which, it was
claimed had no real connection with the other and had
no outstanding acceptances.
The publishing house OF Virtue Co. was established
by George Virtue the father OF the present head OF
the London and New-YOrk houses, James s. Virtue.
George Virtue had family OF three SONS
aud two daughters, OF whom the survivors
arc James s. and a married sister The father
died about seven years ago, year or two after the
death Of his eldest son, who was at the time q
member OF the firm off Arthur Hall, Virtue Il
Co., publishers in PatemOster Row. On the
death OF its founder. the business descended by
will 10 the second son. william A. Virtue Tie NcwYOrk
house was established in 1885 by Robert Martin. who
was sent over by George Virtue for that purpose. VIII
liam Virtue afterward came tins city, where he lived
several wears. He died unmarried in 1879 Tho New
York business Il In the hands Of the executors OF his
tate. of whom the surviving brother IS one, and
In Is understood that he has taken POSSESSION OF the
New-YOrk firm. The London house is n limited
liability company, Of which the active members are
Lanes s. Virtue Frederick r. Daley and Mr.. Spauldng.
son OF the the great London paper house OF
Sounding & Hodge. Mr. Spaulding Is believed 10 have
mad very large interest IN the house " Virtue Co.,
and rumor OF his withdrawal have reached recently tie
The English company, In addition to its publishing
busness Is said TO have been heavy manufacturer or
hooks for other publishers The firm OF Daddy lsbster
q Co Iudgate-hiil, which reported TO have stopued
uoymeut in consequence of the suspension Virtue Co..
snccerded Strahan & Coz who tailed some time ago. The
senior mariner is Is mbeT OF Virtue d Co., ana 1t is
aid that holding large claims on Strahan CO..
they we're obliged assume the management OF
a Dortiou, at least, OF the business. Tho firm, 1t
"A said has been involved largely, too, with seg-
oral other English publishers; among them with
Tinslev Brothers, CutheFnest, Strand, whose failure
aIso IA announced. While these firms may have
secured Virtue Il Co. by the pledge OF plates
and eopyrights OF works manufactured by them,
N IL thought that the burdens imposed had led
10 the reported failure Tie suspension OF the English
frm is Thought however To be only temporary, James 3
Virtue beng considered by some man OF large wealth
lie is now about fifty years old and has been married
on y A few years.