The New York herald., 1878-02-06
BUSINESS DISASTERS.
Affairs Of John f. Henry,
Curran 81 Co.
STORMY MEETING OF CREDITORS
New Failures and Proceedings
in Bankruptcy.

meeting Of the creditors OF John r. Henry, Cur
ran l. Co., Wholesale druggists, was held yesterday
at the store No. College place, and over two hundred
creditors attended. Tho proceedings which were IN
tho main orderly, frequently interrupted by evil
dences OF dissatisfaction on the part Of numerous
creditors who objected to the manner in which tho
meeting conducted At the opening Oh tue
moetng Mr. Henry stated to the creditors his regret
at being Obliged to suspend and the causes of his
misfortune which brought about by the failures o
E. Dunning Jr., thu broker and others. He found
the good assets to be $500 600 and the Liabilities over
81, 100000 Takingthe ADVICE of friends IN whom no
had confidence, he was prepared to offer dividend
of thirty per cent-nve cents cash, hvc cents
each In six. twelve, eighteen, twenty-four and
thirty months. II the proprietary interests
were not allowed to so on he did not
think the estate would realize twenty per cent Mr.
Andrew q. Coffin elected chairman and motion
was made and adopted for the appointment Of COM
.mittee 10 make an Investigation the affairs OF the
arm. This led lively discussion as to the num-
Der OF members VINO should compose it and by whom
u was 10 DO appointed. humorous suggestions and
amendments were made, but the chairman insisted
that original notion which adopted, gavo him
the powor OF appointing the committee and that me
tccted that the Chair mad right TO appoint the COM
miec, and that II was not the sense OF the meetlug
that he should do so. The mover oi the resolution
however said that he included In his motion that tho
Char should appoint the committee and IL was 30
found IN the stcnographer's notes
COMMITTEE APPOINTED.
The chairman appointed MIR. X. g. Radway as tho
first member, whereupon It was suggested that the
OF largest creditors be handed 10 the chair
man that he might act with discretion. Mr. Coffin
defended his action, saying that he wanted the meet
ing to understand tnat he had no personal ends 10
carry out, and that he would appoint men TO settle
the affairs In whom he had conhdencs and who were
acceptable 20 all He accerdinay ANNOUNCED ; as the
g. Railway, william =. Ward ana A. d. Breed Mr..
Colgate, crcuitor, inquired OF Mr.. Henry whether
the proprietary rights appeared on the books as part
of the capital. Mr.. Henry replied that he had made
a very iair statement, and he did not believe 1t was
necessary go technicalties about the propre-
tary rights he considered them Of value, ami he pro-
posed TO use tho secrets 10 galn more money. The
Cnar suggested that the committee retro and doclde
wnen they would report to the creditors. This
was tho OF considerable confusion; sew
eral creditors questioned the representation OF
the committee, stating that they were not tho
heaviest creditors. Tho chair maintained tnat as the
had been appointed ho could not change II.
II rested with the Individuals whether they would
remain on II. A motion to reconsider the appoint
ment Of the committee was received with applause.
but Char questioned the proprety OF reconsider-
ing IL anu SO decided
NOISY PROCEEDINGS.
Loud calls for list oi the creditors to be
read motion TO that effect was carried. After
few names had been announced the reading was in
terrupted by the retirement OF the committee l. was
found that Mr. Worth was absent, ana the name of
Mr. kidder was submitted, and the CRair had partly
appointed him when objection was raised and consd-
erable confusion ensued.
Mr. Thurber deprecated any feeling against the firm.
1t was enierprisng house and had benefited New
York, aud he hoped they would have chance to show
what they pay and do Justice to all parties. Mr.
Colgate said 1t was u meeting OF creditors and they
wanted have an investigation OF the firms affairs
before they took into consideration the rm oner.
Mr. Henry replied that lair play was lair play that
no one more Interested than he was ana he
wanted 10 do what right. He objected 10 tho ap
ment OF Mr. Kdder and he did think IL neces-
sary Tor him 10 come and bulldoZe the house and
throw obstacles IN the way oil fair settlement.
Ec did ooJcct to the other members oil the CON-
mittce, but he did object TO secret enemy OF the
house being the committee. They were dolng all
In their power he hoped the creditors reflection
would not crowd them; If the firm wns thrown INTO
bankruptcy II would not pay much. but with the right
Kind OF nursing IL would pay thirty cents.
POOR PROSPECTS.
Mr. Kidder replied that hc thought the remarks
were III timed and not deserved. 1t was hnally de-
cdcd Mr. Powers, OF the firm OF Powers& Weight
man, be placed ON tho committee In place OF Mr..
Worth.
Alter the committee had retired Mr.. 4. G. Bell,
tire assignee OF Dunning, addressed the meeting on
the relations OF Dunning to the firm and as 10 the
character OF the assets. He SAID that the firm was
indebted to Duuung the extent OF $50 900 according
TO his books, $35, 900 OF which was admted. Numcr
GUS inquiries had been maze to whether the trade
marks lad been Included III the urn assignment shd
II was hi opinion that they were worthless although
they were said be worth $780, 900, SO far prop
erty or assets concerned, unless the recipes
M writing aud made tangible properly. He warned
credors that II they based any vauo on the trade-
marks they placing their hopes on sand pank
Tor lhey cannot claim them unless the lrm lot them
20 Ia as ussets The report of the committee was now
read and they thai they would be ready 10
nuke "a detailed report oil their investigation IN ono
weeks time, after which the meeting adjourned.
THE AssIGSEE's STATEMENT.
Mr. Dewey, the assignee OF .Le hrn, has completed
the statement oil the accounts &C., OF which the io
loving are The agsregates:-