The New York herald., 1878-01-13
OTHER BUSINESS TROUBLES.

The failure OF Flanagan Il Co., large retail dry
goods dealers at No. 629 K ighlh avenue, was
nounced yesterday morning, and later IN the day the
members OF the frm made an assignment Tor the
peneht Of thor creditors to William H. Owen, with the
Arm OF Cornell Amerman. Their liabilities
amount to between $4,000 and $50, 900, distributed
among the principal dry goods jobbers in this city,
did cause much SURPRISE as It had been expected
Tor over week past on account ot iitigation Loep
II Schocnhcld, oil Pniadelphia creditors OF the nrnf
recently obtained Judgment or ST. 500 aud Tho
ton wis issued but Messrs. Foster Adams, counsel
Tor Flanagan Co., mad the judgment reversed, show
ipg~lhal II had been taken by mistake. When tue
creditors heard that the judgment had been obtained
they Immediately comnenced suit against the 1rm,
and between twenty and thirty actions were insti-
tuiei. They IN SO last that the firm deemed 1t
best TO mako an assignment. sun has been COM
mepced against the Philade phia firm tor SO 900 dam
ages by counsel Tor Fiauigan IL Co. The exact valuo
OF the assets is not known. The actual cost Of the
stock III their store was $4,000 and the nominal
value Uf the book account Is $4,000, but they are
deemed worthless
A large number OF the New York creditors OF NJ.
Holstein Il Co. Wholesale dealers IN clothing In Gin.
cinnnt VINO Jailed recently, with Liabilities amount
ing S125 600, have accepted com promise at forty
cents on the dollar on time with satisfactory security
Dealers boots and shoes on Third avenue have
suffered greatly recently but the failure OF NJ Fors-
ter No $40 Tnird avenue, OF tue largest Stores
has occasoned considerable surprise The liabilities
amount to Sl5 UO0 the nominal assets So 900 and
the reaI assets are valued at $4,000
Register Dayton has received warrant In bank
ruptcy against ox-Poicc Commissioner Abram
Duryee, VINO has been adJudicated bankrupt by de-
1auit
Tho committee of New York creditors OF Tale,
Holton Il Co., wholesale Cry goods dealers IN Gin
cinnati, have agreed upon settlement with tho
doctors at thirty. 1--we cents on the dollar to be salts
iactory secured Since the arrangement was made,
however. the water pipes IN the store have burst,
doing considerable damage to the stock but whether
the damage is sufficient to Interfere with the settle
mcnt Is not definitely known.
John W. kettcman. hatcher in Washington Market
ana at Long Branch, 1ed voluntary petition in
bankruptcy before Register Little. His liabilities
amount to ST., 7O0 distributed among large number
OF creditors OF which tho foown. have the largest
clrrns:-John McMurde, s., ,000; W. 4 Patton
il,l9s "a; George Hand, Sl,ll0; Moses Strauss,
S0SI 93 HIS assets consist OF real estate at Long
Branch, valued at Sl4,000 subject to mortgage OF
$4,000. and stock IN trade, wagons, horses, &c,
valued at 81 800.
The assignee OF Jetta Haas dealer In dry goods re-
ports the liabilities 10 be sl, ,4l3 while the actual
value OF the assets is only ssOI 10
Lyman NJ. Rosenthai SUITS, OF No 244 Bowory, has
failcd WIN liabilities amounting 10 about $40 0U0.
His assets worth about 81 500, ncary all oil which
stock. He is cndcavoring TO obtain settlements
at twenty cents ON the dollar, which number OF his
creditors have accepted
There were filed III the County Clerks Office ycster
day the assignments OF johnston n Hyoman, IA
dyiduaily and as sole snrviving partner o Hycman
Il Co., to William j. a. Fuller; Daniel VI. ana Jonn II.
Flanagan to William Il. ourn, John f. llrniy, rhco-
firm OF Currdn Co.. Benjamin IL. Dewey. Alma
Conway TO William :. Kelley Abraham Bog ,rdus to
Peter A. y. Jackson and Nathaniel II. WnNe TO
Theodore wilkcns
FAILURE OF THE pALAis ROYAL.
The creditors oil Mr. George Lisncr, the proprietor
oil the large fancy goods and KID glove establishment,
known as the Paais Royal, at the corner OF Broad
way and Fourteenth street learned with regret yes
tcrday that he bad been compeci 10 suspend The
failure was totally unexpected ana WIS duo manly TO
the great depreciation IN line goods which DID not
sell AT all during the season, and OF which he
carried large stock on hand. Much sympathy
was expressed by The CREDITOR, some OF whom came
forward with oilers OF assistance, and when II was
proposed TO make settlement large number of
them Immediately signed acceptance, which Will
probably be completed IN few days. Meanwhile the
lusincss Will continue as usual The terms OF tho
settlement are thiry-hrec cents on tue dollar, pay
able In notes at two iour ana SIX months The lia-
bhtics amount TO s3,, 900; tho nominal assets
II