New-York tribune., 1878-07-25

Monument ...........1oO 900 Total. $4,000
fremont .............l 10000
A Boson Betting Company's indor-ed by John G.
Tappan and Josiah Tappan, owning 5O5 shares, and
also purchasing agent for tho company IS held by the
State National for $4,000.
THE NEW-YORK COMPANIES AFFECTED.
A MELIING CALLED OF HE CREDITORS or TIE
NEw-YORK BETTING AND PACKING COMPANY
THE MKIILOP & sPRAGUE AGENCY BELILyED
TO BE NOT SERIOUSLY AFFECTED.
John II. Cnceyer PTesldlnt OF the New York
Betng and Packing Company, was at Ills office all d'y
yesterday, looking worried and nervous hut De spoke
chccrfuliy lie said he could give little information in
addition to that given Tuesday, until It was ascer
tanned how 10 Boston company Was coming out. The
following notice had been issued TO the creditors OF the
company:
The undersigned regret the necessity Of announcing to
their creditors tncr inability, or ne present. 90 continue
date resources having been seriously lnpalcd BY the
sudden and uui0Iset cbidLl. MulCn Ht' p.1'n LIZ
Boston Betting Company. WIN view 10 as.1 lliI..IS
In WISHES their cred tors, and adopting ,Jch course
rs may seem sncci 10 the Interests ol az con.
ccmcd, invite o'f citdIt"I' 10 e,' ~ -, 'y % VI
l.. n. DckeIson, esq az jue MdGb /ettH"g hulwhE,
ii a. M Wlr. we shall be prepared TO submit state
mcnt- OF affair, and, We "oLe satisfactory PROPOSE
''''' ''' NEw-YoES. BEirlHG q PAcEr%G CO..
by JOHh 81. tHEEYER, Pre-l.cnf.
Mr. CIe4vrr said that Mr. Duraut tie president OF
the Boston company, and himself were the owners Of
the New-Yurk company, ana held between item two
films oi tae stock of the Boston company lie dd not
Anoy to what the laws Of Massachusetts, held
stockholders OF manufacturing companies liable, butt
wa, not likely that If the Boston company made bad
failure they themselves would escape. His company
WAS ORGANIZED in 1856, with capital stock Of e2OO'
OOO which had since been increased TO S5OO0oO 1t
had been success fu the start, this being It's fist
trouble with the exception Of the burning Of one OF us
factories at Ncw-I ven last year Hc had been con-
ueccd with the Boston company prior TO tue organ "a
tion OF the Nrw-YOk company Uut MT. Durant had not
Mr.. Cueevcr asked If Mr.. DnraDt was not very
rco He replied that he Thought he mad given away too
much money 10 be rich. He had built ana endowed
Wellesley college without hope OF return from 1t, ana
seemed have carried his business operations moro
10 obtain money hs benelcCns than for anyt thing
else. lie sald Mr. DuIant was one Of the best men he
had ever known. Mr. Cneever said he had received
kind expression Of sympathy ana good will from his
creditors without exception. He expressed dSinch-
nation to say anything regard q Mr. Idppan OF hi1
statements. In regard tOa report that chatiel mort
gage as given to George A.Alden Of Boston, By the
New-York BclnS and Packing Company On the 22d Of
July last, Mr. Cnccycr said this was an error The
cnatt,. mortgage WAS given under a contract dated
April Il 1875 whereby MI AlCcu agreed TO furnish IN
dorseme.t5 fr 100000 and 1t placed in the hands
Of a lawyer. Edward y. DickcIsOn, 10 file II tbecame
necessary.
The MKiLLOP AND sPRAGUE AGENCY.
Lester ". Clark, treasurer and general manager OF the
MckiIIup q sprasue ume!ciI Agency, returned from
Boston yesterday morning, ami ~ the conlauy's
otice yesterday. lie said that Mr. TapIans iaaure
would affect the company To the extent OF FJT1Oo tie
amount DBL cations against the company which Mr.
Tappau had agreed take up they leh due ana Tor
vLyu Le he d stock This stoca lad been turned over
to the Boston Betting Company by Dir. Tlppan among
other asst s. and MIR Clark believed 1t would all DO
taken, subj Ct 10 the obi CATIONS against H. by tie Danhs
aud otAci creditors of tnc bel1 X CohpdE ana nay &
tie Commercial AZ ncy would suffer uoiuius Iout ne
iaarc IN TIprHn. His transaction, VITA the ton.
merual A cn,5 nad been Iee from HlosaaIiiy John
Mchuiop rom "noi tAe a-eL,J GrI.'t y,. y ',o" nv
lis nam. gives tuc following account OF LIS company
| and Ol MI Iappau's CONNECTION VIA Il: n ....rt,
| Lewis auI Arthur Tap, an started their conHeIcI
acruc, ne 1871; bat FOR nu apcr oI years conid
OU,a.u Iuu,.udlu the southern 7acs, OWING 10 t"ts
Aho% aot"IS 40 ant'-@Ll'I5 me- % ~. ti raTn
mu Douglass, SJutl IN man. came iho the coV'IH,
wuIcn jECu known "a, laiplA Douglass ana nus
southern connection Hd' ''''I.>"'" ,f ft.r,',,rJ
was CHANGED o. h. DOU-l Company, ana diJcl"du
became b no, Barrow Company, a. II has shGe I,
NAMED. Five mOut-s later IMAM lhc laplihs 5,u'Vh
tLcr dScucy-iu January, i7l2-Nu"d W"Iu * r n
buy started eon'neiGi n-'IyS E ' d soon az.
ytH.,Ii ,I,r Sir kllag ca Inc fIu, having be-
fOYc that IN The employ oI JHc lappah Agency '"i. I'
1ucrr nave been many pa lh r among uS'n is
Known rs rapDan * Mex .Iop r several years on tie
dissolution VI thai ira, Dalcl y. oPr"Sae DecIho
| partner, and the hrm name W., MCkI,r opIa-ue y
| CompIny. Ia 1872 The agency became M'0IpOr
| ar,u lnIcr tue name OF the Mckiop y op cue Col1
! E,sy Wlcn-F Francis ". Tuppan came into tue paIt
| ucyfup, Joau g. lappau, Hs "Uiiet, luih'ufu to no
money for hm aud Occanic special partner; an" ru r
.c,owpau, became INCORPORATED nc VISA 'Ceh".n,It
! Eutjiu- u JwohIds OF the sock Tire original s.oCA
was rlOD.OVO bul AZ tc compdny extended It's oiS,t
tIOaS property became mole valuable "'l l's
c.>c', FIRST to 100000 AID ate iWaIH 20 f
900. said lr Nick lOp: "Ihls was ah "tlAli lnO4'
"a value OIL tnc institution. aud uOt case % ""
! ing S.0CE.' - -.., Ella
Mr. M,KUlop said that the only possible loses OF tIg
company. through the failure Ol JOnu e. plaH' f'r
| lee OccasI0ucd ~ u!s failure 10 meet o"l S-lois IA
winch slock Gad been issued TO hun. The comp ny haa &
boon rdpdiy extending lis operations 'Hl1uEu -. @
country, and Nh I4ppdn ndu onsa-cl 10 P'y 'uo iJ
sdry outlay until nom the increased ttIpt@ 10 -
be repaid. y large part Ot tLc year there were ~
uut!ayS and H.ic lucOme; these p roJN were , ~
wHlCn o. LcIr scm-dnua reports were ln coul'y"' 20
and before they were ready Tor dtINtl!' 80
iuuntLS latcr these expenses NUda Oc more iau
.uuscrptlOu rates. The company nsd Teen at'u'N.,C
to draw Oh Mr.. Tappdn, the president ron itS $50
tlUu, Dy consent. and had GA mtcJtt0 70 IN is
| tie close ,ach year from 100000 10 etV''', -,
dcyt In had heDn " ped Ga. cary ih ,"'
owing year Toe company Iad laid Btii nom 'g ai
aLd Il nau opened no LCJ wnIcil had ho' pio, t,
able. o. Uae ~ 800 on lt7 Lanuo lnFvl- IN
failure OF John G. Iappau $4,000 ii.d ai','u! i'm
prov .dcu Tor IN Boston by tuc assumption o '.O -
is Liabilities ana negotiations were IN prvE'',,
similar disposition Oi $4,000 more But u Ih, Ot OO. h
should bc called upon 10 meet the eullfo
would occasion no serious emUaraSsucut ts WY ,.
more tsau that amount some S-O,OJU-"olld q Vc.
| ng IN frUm lls agcuceS Wtthiu a lew months '''-
| Kilup SAID tnut ne had no fears Tor ms COMPANY
|
| TELEGRAPH OFFICERS ELECTED.