New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-06
GOVEREOR BISHOPS FAILURE.

MEETING OF THE NETWORK CREDITORS
A STATEMENT OF THE CONDITION OF r. NJ BISHOP
Goa COMMITTEE APPOINTED TO INYEsTI-
GATE THE FIRMS AFFAIRS.
About thirty-twO of the NewYork creditors
of Richard NJ Bishop Co., grOcers, OF Cincinnati met
Yesterday at the store Of B. G.. Arnold Co., No 125
Front-st William T. Bishop, son. and w. s. Dickinson
a son-ln-law Of Richard NJ. Bishop, present. b. g.
Arnold presided Among the creditors represented were
Hard Rand, John ODOnObue's Son, Bowie Dash, Row
land & Humphreys, Ezra Wheeler Co., c. Risey
Co., Pupke & Reid, Booth Linsly, Carter. Hawley
Co., Parsons Mackenzie, Joshua Buffum & Co., Ros-
well Skeel Co., Hayemeyer Elder, Hayemeyer
Brothers Co., ArbucEle Brothers, W. T. ST. John, Ed
wards & Maddux, and the Dscastro Bonner Sugar Re
filming Company.
Mr. Arnold read schedule Of the liabilities of the firm
as follows: In New-York, S145,00O; in Philadelphia
$4,000 in Boston. So 900 In Baltimore. So 0O0 and
1884 525 50 due in different small cities. nearly all in
the West The assets stated to be 256S2s 7O-the
of the firm being $233228 20, ana the individual
assets Of Richard NJ. Bishop and W. I. Bishop being
S23, 600 A committee of six appointed to inyest
gate the affairs of the firm. The committee IS composed
Of Darwin r. James. A. BarstrO. OF the Decastro &
Bonner Sugar Refining Company, Otis W. Booth, Of
Booth & Linsly, James Graham, Of James Graham Co..
j. NJ Edwards, OF Edwards Maddux, and W. p. ST.
John.
It is understood that sharp questions asked in
regard TO the management Of the business for the last
few years, which W. T. Bishop answered promptly. lie
attributed the failure Of the firm chiefly 10 the heavy de-
probation OF real estate but told OF losses by the Climax
Moving Machine Company. through which 100000 was
lost in investments in the machines, and $4,000 in the
stock After machines bad been bought and sent to
their agents all the country, the brake was found
to be weak and they proved failure. Mr. Bishop said
that the firm mad made little money the face Of the
ledger every year. but that there had been loss ON bad
debts The question was asked In January last how
fFFHaa aluatgtt To ffd
assets 2" Mr. Bishop answered.; Within che last month
we have paid out S134,565 thinking could 90
through" " But you must nave known month ago.
was The reply, that you could no. so thTouSh. hf.
Bishop SAID that II be would not have asked his brother
and MS DrOIeIinaw to ndorse for the finn lie said he
had sold his residence at loss OF S2OOOO ana put the pr
ceeds into the assets OF the firm; ne would not nave
done this II he had not had iaIh ~ It's sodyency is
question was asked; 80 you mink the concern was O
vent 10 January, 1873 a. The reply was Thrre has
been constant succession OF bad debts since then"
VS. Dickinson Governor BISHOPS s0n-in-aW, saa 70
TRIBUNE reporter that tue bankrupt hrn was indebted
10 INN $4,000; Of this $1,000 was for borrowed
money and was secured; $4,000 was on Endorsed
paper OF which 50, 500 fell due yesterday az the Bank
OF New-York and PAID BY him. all other notes
OF depreciation OF real estate N Cincinnati Mr. Dick
and was now valued 500 600; T. IL. Bishop Of
fered few years for his residence $4,000 and now
places in his schedule $4,000 The corner store OF
the cOmpanys building formerly rented al @lJOOO, ana
now rents at $1,000
for list OF tine NewYOTk creditors bat ne declined 10
give 1t for publication until the report should be made
I
plicatlOn made last evening 70 Messfs Bishop and
Dickinson for tue list they expressed regrets thai they
had reserved copy after giving the original lists 10
creditors MIR. Bishop sad that the statement pre-
seated at the meeting showed liabilities amounting 10
S36O525 So; secured claims SlOOO0O assets, $685.
Dps 49, tabliated statement OF LOSSES made up
ana presented SHOWING a loss IN lew years OF tne
firms properly amounting to S320OOO in real estate and
in general values.
W. T. Bishop said that in the thirty years that the firm
Of r. NJ. Bishop Co. had been in business 10 had never
before failed 10 meet Obligation aud IL had done
business, some years. OF "a 900 900 year. When asked
reference TO the expenses IN which Governor Bishop
had been involved through his political campaign OF last
year Mr. Bishop answered that the same question had
been asked tue meeting OF creditors aud he had
swered the state Committee had assessed his father
~, 500 aud tie Hamilton County Committee $1,000;
but that his Inauguration he had lived on his sal
airy, and Drawn DOthing from the firms funds. lie
further stated that the assets Of the firm were divided
as follows;
Real estate 100000 Western lands 900
Stock OF gOods...... 10000 Bank ana insurance -
Book aceOunts....... 76OOO stOck.........'' blOO
The creditors scattered as follows Ia New-YoTk
thrtyelght IN Cincinnati, fOrtyninej IN Philadelphia
six: IN Baltimore Boston, In Buffalo, two