The New York herald., 1878-08-18
BUSINESS TROUBLES.

THE CLOTHING FIRM or keller, woRMsER
KIyGsBURY FREED FROM THEIR RMBARRAss-
MENTs-A SATISFACTORY SETTLEMENT ET-
FEcrED-orHER MISCELLANEOUS MATTERS.
Frederick Lewis the receiver Of 8rm Of Keller,
Wormssr 4 Kingsbury. Manufacturers and wholesale
dealers In clothing at the corner Of Brosdway and
Grand street. has effected satisfactory settlement OF
the aHaira by which the creditors TO be paid In
full. The has caused great interest on account
OF tho bitter legal contests in the State and United
States and the large amount OF assets involved,
over $4,000 The settlement was proposed BY Mr..
Lewis and the committee OF creditors consisting Of
Mr.. Werner, OF Haho & Stiegiitz; Mr.. Lsshsr, OF
Lesher, whitman h Co., and ME Lauer, OF Naum-
berg, Kraus, Lauer Co, sanctioned It, In order 10
get firm OF thor troubles BY the terms Of the
settlement the litigation Is ended, and orders have
been entered disseminating the three suits in tho
Supreme Court; an order has also been
entered in tho United States District Court discon
tiIuing the bankruptcy proceedings brought by the
creditors The arm is dissolved and new one Is or.
ganizod, composed OF Messrs. Wormser and Kings
bury, who receive ex.onson without security and
are 10 pay the creditors in iuiL They Issue their
notes six and twelve months at aty per cent eaca
to tho merchandise creditors, while the confidential
creditors, whose claims amount 10 $47, o00 roccve
notes at and thirteen months; this givos
preference to the merchandise creditors In the ti-
CATION It was held by the other partners that Mr..
Keller had no interest The firms assets but Messrs
Cardozo and Nowcombe, his attorneys, gained his
point, and ho now transfers his interest 10 Mcssrs
Wormscr and Kingsbury 10 consideration OF $ll, 900
cash and assignment OF bills receivable amounting
to ST. 000 OF which So 900 secured by mortgage
Alter paying tnese amounts the new nrm have cap
ital $50 600 IN addition 10 the SAL 900 due the con-
hdcntiaIs making a total OF $S6,OO0 to pay
A he
firm perfectly solvent The creditors have signed
an agreement recommended by the committee to pay
the rccevor his .ecs. Tho nrm yesterday
nounced the copartners and resumed business.
Mr.. Isaac D. Frazer. representing several creditors
ton Market, has nlcd petition to have him adJudi
Gated Involuntary bankrupt His liabilities amount
TO SIS 900, and he has no assels
A petition in bankruptcy has been nled against
Henry Hooper, ana the matter Will como up ior ad-
Indication the 9th INST. Ten creditors unite In
inc petition, their claims sssreEaung 5000, tho
largest being The Coun,y National
Bank Of o-r%sl sil1S; Frs, National National o1 Sanx OF
ter A. Storm, $500
Fiity hith street. has become embarrassed and credi
tors epresentc by Mr. Isaac ID. Frazer, have COIN
ncej proceedings to have him adJuiicated bank
rupt. HIS liabilities amount to 5000 and he has
assets consisting OF promisssry notes ior $4,000
Register Allen has received The warrant In bank
ruplcy against Conrad Boiler, tho furniture dealer,
who has been sdjudicated bankrupt on the pciion
OF his creditors. meeting las been called TO elect
an assignee aud prove debts. 10 DO held on Soptem-
ber 8.
Andrsws 4 Sanford, wholesale dealers 10 IN illinery
goods at No 55S Broadway, have suspended. Tho
present nrm been very unfortunate IN business
hav ng failed before, the nrst time compromis-
ing at thirty cents the dollar and tne second
twenty -nve cents. MT. SANFORD was OF tho hrm OF
Pinnor Co but Withdrew before they fall ed, and In
1860 associa.ed himself win MI Andrews forming
the nrm OF Andrews, Giles SANFORD They failed In
1861. aud settled At fity cents In 1866 the nrm be-
came Andrews, Sanford II smith; the latter with
drew In 1873 and the arm assumed Its present style.
The main causes OF the present failure are the limited
Is not gDown NJ present, but are estimated at up
ward Of $50000 rhsy have good assets, which in-
cIude considerable stock.
Tho committee OF creditors OF Boyco Smith,
wholesale dealers In whiskcys at No. SO Front street.
OF which Frederick Lows Is assignee, have employed
expert to mako an examination OF the books, and
they expect to have report ready IN a low days,
WHOM meeting OF tho creditors Will DO called. Mr.
y. Tay or has been chosen chairman Of the commit
tee OF creditors
committee OF creditors OF Lesser Steinhardt,
wholesale dealer In clothing at No. 40 Howard street.
OF which Frederick Lewis n ssignee, have been ap-
POI With George Ryle chairman to make an In
vestig alton Of tho debtors anirs. The liabilities
amount nearly $3.50 000 while the real assets
valued at only 1880. Mr. Stcnhardt ID stiil IN Can.
ada on the plea OF sickness.
Robert Mcneil, liquor dealer, OF Rye. westchestcr
county, has commenced composition proceedings In
bankruptcy in this city tor q settlement with his
creditors at cent Ia cash 'payabc the date OF
the Hing aud recording oil tho proceedings In compo-
stion."
Composition proceedings have been commenced by
Theodore A. stephen dealer In Hour aud feed at
Portcbcstcr, tor u settlement with his creditors at
twenty-five cents on the dollar cash,
Al a meeting OF the creditors oil Smith Il Ensign,
dealers Ia produce at No 30f Greenwich street. held
yesterday before Register Ketchum, John T. Freeman
was eiccted assignee. Only ono claim proved by
W. J. sun Co. for $22l So