New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-04-05
BUSINESS TROUBLES.
REyERsEs OF VARIOUS FIRMS.

REVERSES OF VARIOUS E1RMS.
FAILURE OF JOHN r.. CECIL & CO.. BROKERS'
HENRY, CCRRAN Il CO.'S SPECIAL PARTNER
BAYKnUPr-oTuER EMBARRAssMENrs.
The failure Of John K. Cecil 81 Co., bank
ers and brokers at No. 20 Broadway was announced on
wall-st Yesterday. During the day the firm made
an Segment to william II. Van Devener. The senior
member of the firm. John r. Cecil also made IN assign
ment TO the same person Mr. Cecil stated that his firm
had dealt unwsely and It's customers had done likewise
The amount 1t owed abont equal to that due II from
others. As the money due the firm was coiiectcd IL
would DO paid over in satisfaction OF the claims
against II If this not sufficient to pay oil the deDts
any deficiency would he made mp ssoon as inc r,hers
could IT, They did not believe u was just I9p thc
to borrow from their friends to pay others by he
course pursued they were observing the golden RUE
The firm owed nothing to the Stock Exchange ana thsrc
only about dozen pef-ons VINO were peSu5naal
in crested In IT'D affairs TIE wEoc trouble had been
b.ouglt about by the action OF one man ~, a.,
Hr. Cecil said he could not give the amount Oh inc
liabilities Of the firm. but they would be less IMAM @loV
900 It od s edineS 1 'fy
that settlcme was agreed upon between the hrnl
and all except one OF the cletor one man re-, S
his claim for small amount and as u c9ulG nor I'VE
promptly met the firm was obliged 10 suspend JOnh II.
Cecil has been III for four months and consequently was
unable to give much attention TO business lie was no,
member OF the stock Exchange, his son ana
partner George W. Cecil who was member OF tho board
having charge OF that branch OK the business John H.
Cecil formerly member OF the dry goods nrin or
Butler Cecil RawsOn Go. After the dissolution OF the
firm he became a member OF the brokerage house OF
Cecil Stout Thayer. II was generally understood tiat
he was wealthy at tal Time III June, c,o Tue pesc..
firm OF j. r. Cecil & Co. was organized MI Ceeil mas
always been regarded "a very honorable ana con,
scl0ntl0is man in all his business transactions, aud
much sympathy expressed on the street Yesterday
Charles f. Gs has filed petition ~ bankruptcy.
His liabilities he places M $4,000. Mr. Gi1s was
special partner the drug hrm Of John Henry, Cur
ran & Co. aud resides at Nashua, ~ r.. When the firm
Was organized Mr.. ellis, under the advice OF counsel,
gave his check, on the GrOcers' Bank OF TINS
city, for Sl25.0Db. 70 constitute him special
partner. THIS check not cashed, being car
rieJ by the firm an accommodation check SINCE the
failure II has been held that the giving oithe check con
sttuted Mr. Gis regular partner, and that AS such, nc
became liable for the debts OF the trn IL Is claimed
TINT this decision has bnukruped Mr.. Gillis. He ls
nearly 20 years old and few years was regarded as
a man worth at least S25000O.
hlexander l. Mayes and Nathan Mayes have applied
To Register Dwight for their discharge from bankruptcy,
ana the order been made rcturnabe FOR April 20
They were formerly wc-known WHll-st. bankers ana
brokers aud failed June, 1868. with liabilities amount
ing 10 over 100000. -
Assignments for the benefit OF creditors filed yes
to-day nv Ernest G. Hagmayer to Herman Wlnkelinau.
and by Joseph Forester 10 +. H. Rodenburg.