The New York herald., 1878-03-08
BUSINESS TROUBLES.
THE NEW YORK BUTTON COMPANY EMBAR-
NEUTRALITY-SUSPICIOUS. IN BANKRUPTCY

TIE NEW YORK BUTTON COMPANY EMBAR.
NEUTRALITY-SUSPICIOUS. IN BANKRUPTCY.
The failure OF the Now York Buston Company, ut
No. Is Franklin street. OF which julius DinKcispiel s
proprietor is announced The liabilities amount TO
over $lO0 OO0 OF which thore about $4,000
and unsecured about $S5, ,0OO In July last tho com
pany claimed TO have surplus OF $50 900, but since
tnen II has met with series OF reversos which
almost swampcd It Recently started into the manu-.
facture OF brass goods sanguino Of success The
busincns required large outlay for machinery and
skilled workmen, and q new factory was secured At
the corner of Boerum ana schermerhorn streets,
Brooklyn. Considerable timc was lost In moving and
getting the enterprise under way, and then It was dis
covered that thore very little demand
for the goods manufactured Returns were
small, and not having ready means TO carry
out tho plans there loss OF upwards OF S. 600.
II Is also stated that $l2 000 lost by depreciation
in STOCK and about $4,000 account OF the ex.
trcmcly low prices; over Two hundred hands en-.
ployed and thoir payroll averaged 81. 900 per week,
which was also n heavy drain tho resources. The
original department OF their business very profit
able when first started In 1870, ana In the nrst two
years $4,000 was ciesrsea sSd In 1910 the profits
inAily valued ut 500 000 but they consist largely OF
machinery, stock and fixtures, which would realize
very little u sold the actual value OF the assets
rho creditofs express q willingness to allow the
company 10 continue business, deeming II tho best
course all concerned, and meeting will be held
take action In tho matter Some OF the creditors
OF the opinion that the assets warrant about ty
on the dollar.
IN BAxKRUPrCY.
Frank r. Fennossy, Grape man huncturer, OF No. 3s7
West Fifty second street, mas been adjudicnted vol
unsary bankrupt on his own petition W Register Lit
tic, with liabilities amounting TO $37, 500. Tho IN.
debtsdness distributed among many credito tho
following being the principal ones:-B w. Blnnchard
So 600 Henry Harley, $5500 United States Express
Company. 900; Benjamin Dennis, $1,000; A. Rusch
Co., $3.50; National Stock Yard Company, 200.
his assets consist Of looms spindcs shafng rollers,
and other machinery used In tho utacture oi
nominaliy valued at $33, 79a
Five creditors OF the irm OF Vogel Reynolds DEAL
In glassware, NJ No So Murray street, have died
petition in bankruptcy against tho firm. Tho claims
of the pcttoning creditors aggregate So DOS, as 0l-
iows:-Uonrad vogcl, $4,000; Charles b. Reynolds
$1,000; b. Gantha, $l,492 %; r. Hull, ${27 "a;
Homes. Booth h Haydens, $2s7 10 The nrm has
ordered 10 show tho 10Th inst why they
should not be adJudicated bankrupts Tho liabilities
amount to $1,000 aud assets s., eco
meeting OF the creditors Of Matthew Kchoe h Son,
Wholesale liquor dealers, At No 80 Broadway, was
held yesterday ~ the oice OF Register Dwight and an
offer vas made BY the firm 10 compromise at tnir,y-
three aud onothrd cents the dollar IN four install
ments three at ten cents each In six and twelve
MONTHS and tho balance In eighteen months indorsed
notes Twenty-six creditors, whose claims aggregated
$2s $50 TO- wero In iavor Of the composition, but
vote was rcacned pending tho examination OF tho
bankrupta The principal claims fled were II. H.
Shufoldt Co., OIL 93; ID. Rohrer Co, 81 686 O4;
A. Guckonhsimer Brother, $2,S4s 40; frsberg 4
The crcdisors OF Abraham sternfes, wholesale liquor
dealer No ~ Vescy street, met yesterday nj the Of
hcc or Register Allen, and composition at ten cents
on the dollar and expenses in bankruptcy was agreed
by fifteen creditors representing claims aggregatng
81, 5Oi A; J. De Turk, 81, ,4s1 Sc.
Register Alien yesterday appointed John h. Piass.