The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-27
BUSINESS TROUBLES.
FIRMS COMPELLED TO COMPOUND WITH THEIR
cREDIToRs--o DISASTERS.

flkMo CoMfElLEp ~ IOMfOuHQ Win AhIAAs
cREDIToRs-oruER DISASTERS.
The firm OF Youpgs, Smith Il Co.. sugar importers,
at No. IS South street. have been compelled TO ask an
extension OF their creditors IL appears that the hrst
accepIauces amount 10 about $500, o0O some OF which
matured or Friday ana were not met consultation
OF the creditors holding their paper was held, at
which Mr. Charles n. Fry, President OF the Bank OF
New York, presided, and the firm submitted prop
ostion to make cash payment Of hiteen por cent
upon all OF their acceptances as they should
mature. the remainder TO be extended ior sixty
days, when another payment Of fifteen per
cent with interest, would be made similar
payments and extensions should DO made uotiI
all their Indebtedness is discharged. the creditors
unanimously agreed to accept the plan OF settlement
proposed order that the 1rm might continue busi-
without interruption. Tho acceptances held by
a number OF banks and private parties are Endorsed
by the lrm OF Kionda BenJsmin u Co. Tho payments
on the acceptances are TO begin at once.
,. petition IN bunkruptcy has been nIed aga'nst
Thomas Reed and Mr.. Thompson, formerly doing
business bankers aud brokers at No Wall street
under the firm name Of Thomas Reed Co. seven
the petition. Tho following are The amounts OF the
CLAIMS IN the petition julia A Reed, $la4,33s;
Nathan stephens. $4449 05 Julia Thompson,
sa,046 30; james v. Harbrit,Ie sssl4 60; stephens
ra,en, WISE Company, $751; IS Francis L. Ailieer,
Four creditors OF Maria Forster, dealer In boots ana
shoes at No $50 Tnird avenue, have died petition 10
have her adJudcated an involuntary bankrupt. An
injunction Is asked for TO RESTRAIN any further transfer
disposition OF the estate being made The claims
of the petlioning creditors are as iollows:-Aaron
Clahin, s33ll ~ Wallace Elliott. 81 GA o. George
4. Morrow, $3s5 rs; james Parsons, 1887 so.
Thomas II. Stevens, produce exporter at NO. Estate
street, assignment yesterday for the benefit
of his creditors TO Edward Pratt The assignment
recorded in Brooklyn. Mr. Stevens transacted an
extensive business, his specially being provisions aud
cheese. His credit was good, and he Was repued 10
DO worth $50 900 he amount OF his liabilities Is
estimated at about $50 900.
Az meeting oil the creditors Of Emil Stern, whole.
sale liquor dealer at No. "a Dey street. resolution
was adopted 10 accept compromise ut iorty-nve
cents the dOllar-tcn cents cash, and ten cents
three I've and months, and five cents IN
Gonths.
A meeting OF the creditors OF B. Levcnc, dealer IN
fancy goods At No l36 Bowery, was held ut tho Office
OF Messrs. Biumenstiel Ascher, No. 1872 Broadway
and composition at twenty i've cents on The dollar
cash was accepted IL appeared that Mr. Levenc had
lost heavily by fire and by robbery by an omploy6.
In the petition of James Croushwcll, dealer IN dry
goods al No. 2,24l Third avenue alluded to ON the
21st inst there 10 mention OF his having trans.
ierred any OF his properly 10 his sister The state
me Mt to that effect turns ont 10 b1 erroneous
There fled yesterday in the County Clerks
Office the assignment OF Frank M. Robins aud James
Titus TO Henry g. Atwater.