The New York herald., 1878-03-14
BUSINESS TROUBLES.

SUSPENSION OF TWO PROMINENT HOUSES
PROCEEDINGS IN BANKRUPTCY.
The hat trade was startled yesterday by the an
nonncement OF the suspension OF the firm Of Jehial
Read Co., jobbcrs, At No 500 Broadway. The house
was wcll known in the business, had excellent credit
and estimated to be worth upward OF 500 600.
The suspension caused by the general financial
depression, shrinkage in values and depreciation OF
stock The liabilities amount about 5000 00O dis.
trbuted largely among the manufacturers IN this city
and Connections. The firm had large Southern
tradc, and by bad debts them
They had u business connection In ST. Louis, the firm
there being Brown Norton. The assets large,
consisting OF book accounts, bills receivable and STOCK
but estimate OF their value be given prese
The clerks are busy making up a statement OF the
liabilities and taking AN inventory Of the stock. As
thoy have largo quantity OF stock hand they have
made Mr. II. H. StoIesbury voluntary trustee OF all
their property and circular to that effect, which also
announced thor suspension, was sent out TO the
creditors yesterday The house has been in business
under the present style December, 1s6s and is
composed OF Jehial Read and Nathaniel Norton Mr.
Strange was partner tor SIX years, but retired an
1874 Mr. Norton said yesterday that tie suspension
was entirely unexpected, and was due 10 the causes
stated above; he could not tell whether the abi les
would exceed $500 OoO could give no estimate OF
tho value OF the assets until the books are completed
which would be IN the course OF lew days.
The suspension OF Joseph H. Marks, commssi
merchant at No. lao Water street, ID announced, and
occaslonsd considerable SURPRISE he haa excellent
credit and rated 10 be worth 800, 900 His
trade was mainly with Now Orleans and other South
ern cities He was formerly oi the firm of Marks
Fcbre, which dissolved IN September, 1876, he
.inung tue business, was the capitalist OF tho
lrm. His suspension was brought about altogether
by acceptances aud Endorsements tor other firms,
and precipitaed oy the failure Of the arin Of
AIcus, Scherck Autey, cotton factors OF New Or
leans, with whom he had large Transactions This IS
the hrst financial trouble that has affected Mr. Marks
In long business career. His Liabilities amount to
about $4,000, but he mas no direct or individual
liabilities VIII hitevcr The value OF the assets Is
known ut present, as they will mainly depend
upon the settlement made by other firms. Mr..
Marks said yesterday that the cause OF the sus-
pension substantially as above stated, and tnat
the liabilities were between 500, 900 and $llO. 900
probably the latter sum. Bes,Ies the nrm OF Alcus
Scherck " Autev, he also involved 10 a small
amount by the failure OF Jay L. Adams Il Co.. OF this
CITY. He was formerly IN the shipping business, but
lately his transactions have been more varied and
some ewnut restricted
4. Hiiycr Co, importers and dealcrs in woollens
formerly oil No. 67S broadway, who iailed In Scptem
Der last with liabilities amounting to $3.50 0OO have
settled with their creditors al sixty cents the
dollar, and have obtained consent to discontn
OF the bankruptcy proceedings. John H. Plat, the
assgnee, has oeen ordered TO e his accounts Tor SET
tlement. and Register Dwight Will certify the order
Margaret s. Roo, ofNo 10 East Twenty -6rst street.
who Jailed In November last, madc application 10
Register ,tchum yesterday tor her discharge IRON
bankruptcy, which Will DO granted, as there was no
opposition on the part oil hcr creditors.
Register Fitch yesterday submitted his report grant
Ing the discharge from bankruptcy Of Kenyon Cox,
formerly partner oi Daniel Drew, 10 the court tor
confirmation.
Application made to Register Dayton by william
II. Hewitt tor his discharge tom bankruptcy, which
will be granted, no creditors opposing his pe.ton.
The EXAMINATION Oi the Affairs OF John +. Henry,
Curran Co. before Register Little to hnvo been
continued yesterday morning, but owing to the absehce
OF oil Mr. henry's counsel was adjourned TILL next
Saturday at one O'Clock. Ar Eastou, counsel Tor
soo OF the CREDITORS put IN his appearance Tor the
following additiouai credors:-Setb W. Fowler Sons,
Roxbury, 81, S61 Jamos Ayer& Co., Lowed, 81, ,42S
f. W. HOyt Co., Lowell, l.6lS; kiddcr Lard, OF
THIS city, 81, 302, and McKessor Il Robbins, ot this
city, 81, 400 On next Saturday the examination OF
Mr. Dewey the assignee, will be concluded and that OF
john +. Henry VIII beyu.
There filed yesterday ln the Court Of Common
Pleas the assignment, with schedule annexed, OF
Daniel ID. Boycc and John I. Fairfield, comprising
the iron ioundry firm OF Boyce Fairheid, TO James
j. Burneh. The Liabilities are stated ~ s2l $50 30,
nominal assets ut $ Ss 49, and real assets So 100
In the County Clerks Office there flied ycster
day the assignments OF Joun Lcmp 10 William Laid
law, and Of Peter GarLh To George SNYDER