The New York herald., 1878-02-24
BUSINESS TROUBLES.

FAILURE OF w. A. RANSOM co. - PROCEED
IScs IN BANKRUPTCY.
Warren A. Ransom, Aaron p. Ransom and Robcra
II. Boyd composing the arm Of W. A. Ransom L. Co.,
wholesale dealers ia boots and shoes at No 537 Broad
way made an assignment yesterday for the benefit OF
their creditors 10 Walter W. Law. The drm vas one
oil the oldest In the trade, having bocn In existence
upward OF thirty years. and at stood al ths
head OF the Jobbng trade In this city Recently,
however their credit has been affected and their tail.
ioreshadowed by Bradstreet's four months
ago. when their credit rating withdrawn. To many
IN the trade, however, the news OF their failure
surprise, as IL expected that they would b.
able TO pull through Thor failure 10 ascrbsd the
general financial depression and 70 losses by bad
deb;s. The amount OF the liabilities Is variously esk
mated from $500, 600 10 100000; but II is thought
that the business indebtedness will be about S25009Q
The arm time was estimated 10 be worth from
100000 to 100000. they formerly located n
Nos. 3s4 and 3se Broadway which property purs
chased TOR 1926, 600, but was enoumbered BY mort
cages for nearly twothirds OF that sum. Members Of
the drn also had property In Dey, Cortandt ana
kity second Streets but the amount they possess
is not definitely known. Mr.. Ransom said yosterdAy
that The failure was very sudden, and thcy did
untii Friday night but that they would os
able 10 pull through they mel all their paper maturing
unti yesterday, and hoped 70 be IN position
uuue; their creditors had been pressing them very
hard lately and unIavorabte reports hurI their ersdi
both here aud In Massachusetts,, greatly. he said The
cause the failure was tho depression In trade and
uniavorable reports He could not gvo present The
exact amount OF the labitios but no thought thoy
were In the ns,qhborhood Of quarter OF u miilion
dollars Tho principal part oi the Indebtedness u
Boston, Lynn ami other Giles IN NassAch usettss
where they had purchased most Of their stock.
The assets were largo, consisting OF stock
and book accounts, but he could give estimate "a
to their value. The clerks were at work making up
the accounts 10 prepare statement which would bS
submitted TO the creditors. and meeting would be
called TO consider matters but he could say how
t,,h h.lt M ~
been begun obtained by the creditors, and II was
expected there would be ally legal obstacles 70
OF the warerooms yesterday afternoon. He said be
had not had sufficient time 10 make any nation.
but would begin once 10 straigheu matters aud
make himsell familiar with the condition OF AFFAIRS
would have statement Of the Assets and liabnt-
ties as soon as possible.
James g. Benuett aud Andrew IL. Smith, composins
the hrm OF Bennett Smith, manufacturers 0t teis.
skirts, at No. 81 Leonard street. have goue inio
voluntary bankruptcy before Register Dayton. Tho
liabilities amount to about $b2, 900; the principal
creditors are pomeroy Pummer 81, ,923 Is; o. N.
Mills, $442s %; Danoury National BANK ST. 203 III
G.J. Ho.ehkiss, SS.725 60 rne ,o,aI assets amouni
TO about $3s, 800 consisting oil stock machinery
at their mill IN Franklin, Aass $s2 900. anu book
counts $4,000
A meeting Of the creditors OF John p. Doll.more,
smith, al M ASS Water street, held The oGice
Of Register Dayton. Nine claims were proved lvr
about $40 co., The creditors failed 10 agree upon an
assignee, the largest number OF creditors voting III
favor OF one party, whie me largest In amount
corded their votes IN favor VI another The Register
decided that there choice and appointed John
II. Plat Assignee
An adjourned meeting OF tho creditors OF tho arm
OF Canineyer Mason, Wholesale dealers IN stoves.
al No 81 warren street, was held ut the oce OF Aaron
Clsiiu, at No lis Church street. The committee ap-
pointed at the last meeting TO Investigate matters
recommended that the creditors accept u settlement
at iorty cents ON The dollar, pay able III April May,
June ana July, which was unanimously adopted by
the creditors represented.
Register Little has received warrant In bankruptcy
against Samuel y. ktle, dealer In bedding at No. DOB
Canal street, VINO has been adJudicated bankrupt
The petition oI his creditors HIS liabilities are re-
porred ut aoout SO, 900 and his valued at
about $4,000
Al u meeting OF the creditors OF Houston Ruckor,
liquor dealer hold at The Office OF Register Fitch.
schedules were presented sho~iug liabilities amount.
ing 10 $3,5O0 aud John II. P.att WAS appointed as
signee In bankruptcy.