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

A meeting Of the creditors OF John r. Henry, Cur
ran Co., Wholesale druggists, was held yesterday
at the store No. College place, and over two hundred
creditors attended. Tho proceedings, which were IN
the main orderly, frequently interrupted by evil
dences of dissatisfaction on the part of numerous
creditors, who objected to the manner In which the
meeting was conducted. At the opening of the
meeting Mr. Henry stated TO the creditors his regret
at being Obliged to suspend and the causes Of his
misfortune which brought about by the iaurcso OF
E. Dunnng Jr, the note broker, and Others He found
the good assets be $780, 900 and the Liabilities over
Sl,O00,OO0 Takngthe ADVICE Of friends IN whom he
had confidence he was prepared TO offer dividend
Of thirty per cent-nve cents cash, five cents
each In SIX twelve, eighteen, twenty-our and
thirty months IL the proprietary interests
were not allowed to go on ne did not
think the estate would realize twenty per cent Mr.
Andrew q. Colhn elected chairman aud motion
was made and adopted for the appointment Of COM
.mittee 10 make Investigation into the affairs OF the
arm. This led to lively discussion as to the num-
ber OF members VINO should compose II and by whom
t was to be appointed. Numerous Suggestions and
amendments we're made, but the chairman insisted
that the original motion which was adopted, gave him
the power OF appointing the committee ana hat Inc
number to be Ave. Several creditors loudly OBJ
jected that the Char had no right TO appoint the COM
mtiee, and that II was not the sense OF the meeus
that he should do The mover OF tho resolution
however SAID that lie tnCludeu IN sno
Chair should appoint the committee ana ~ was 30
found IN the stenographer's notes.
THE COMMITTEE APPOINTED
Tho chairman appointed Mr. X. q. Radway as tho
first member, whereupon II was suggested that the
oil largest creditors DO handed 10 the char-
man that he might act with discretion. MI CONN
defended his action saying that he wanted the meet
ing to understand tnat he mad no personal ends 10
carry out and that he would appoint mon to settle
the affairs in whom he had con1dencs and who were
acceptable 10 all He accordingly announced as the
a. pudv linn Ward A. n.
Colgate, Il creuitor inquired OF Mr.. Henry whether
proprietary rights appeared on tho books as part
of the capital. Mr.. Henry replied that he had made
very lar statement and he did not believe 1t was
necessary TO go into techncaes about The proPrie-
tary he considered them OF value, ana ne pro-
posed to use tho secrets TO gam more money. lho
Cnar suggested that the committee retro and decide
wnen they would report to inc creditors m,s av
eral creditors questioned the representation OF
tho committee, stating that they were not inc
heaviest creditors The chair maintained tnat as the
com mtee had been appointed ho could not change IT,
ana Il 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 propriety oil reconsider
ing IL ana SO decided.
Loud calls were for list oi the creditors to be
read and motion 10 that effect was carried. Alter
few names had been announced the reading was In
terrupted by the retirement OF the committee IL was
found that Mr. Worth was absent, ana the name OF
Mr. Kdder was submitted, and the Chair had partly
appointed him when objection was raised and consd-
erube confusion ensued
Mr., Thurber deprecated any leene against INC urm'
1t was an enlerprsing house and II 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 meeting OF creditors and they
wanted TO have investigation OF the hrm's affairs
before they took into consideration the firms offer.
Mr.. Henry replied that lair play was lair play, that
no one more Interested than he was and he
wanted do what was right Hc objected 10 tho ap-
tment Mr. Kidder and he did not think neces
sary ior him 10 come IN and bulldoze the house ana
throw obstacles in the way oil \ fair settlement.
He did not ooJect the other members OF the COM
miltce, but he did object 10 secret enemy OF the
house peing the committee. They were doing all
In power aud he hoped the creditors on reflection
bankruptcy IL would not pay much, but with the right
Kind OF nursing IL would pay thirty cents.
POOR PROSPECTS.
Mr. Kidder replied that he thought the remarks
III timed and not deserved II was finally de-
cid ed that Mr. Powers OF the firm OF Powers Weight
man. be placed the committee Ia place OF Mr..
Worth
Alter the committee had retired Mr.. +. 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
indebted Dunnng to the extent OF S69 600 according
to his books $35, 600 Of which was unmltted. Numcr
Gus inquiries had been mate as to whether the trade
marks been Included IN the hrm's assignment, and
u was opinion that they were worthless, although
they we're SAID be worth 500, O00 far prop
ery or assets concerDcd unless the recipes
N writing and made tangible property. He warned
the creditors they based value the trade
marks they placing their hopes on sand bank,
Tor they cannot caim them unless The lrm lot them
10 In The report of the committee was now
read and they announced that they would be ready TO
make u detailed report OF their investigation in ono
weeks time, alter which the meeting adjourned.
AssIGNEEs STATEMENT.
Mr.. Dewey, the assignee OF .he firm, has completed
the statement OF the accounts, &C., Of which the ol-
loving are the Aggregates