The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-01
B A N X r u P IT @ Y .
List Of the Failures Reported During
the Last Six Months.
THIRTY-NIyE MILLIONS OF LIABILITIES.
Firms That Have Gone Under and Trades
That Have Suffered.


The enormous number Of 5l4 failures were re-
ported 10 this city during the six ending June
80. in which the aggregate liabilities amounted to
$50 030 795, while the assets $1 &C., This
Is large increase over tho corresponding period Of
the 1871 the failures for the whole Of that
numbering SAL with liabilities OF SSH $751;, 900 The
repeal Of the Bankrupt law been principal
OF increasing the number Of failures, many mer.
chants traders havo taken the benefit Of It's pro-
visions while II Is yet In iorce Many trades have
passed through their crisis, have cnt on tho weak
houses, and In much better condition than at any
time since Inc panic. THIS is most noticeable IN the
dry goods trade, which has had comparatively few
failures since the 1st Of January
UNEXPECTED DISASTERS
There have been n series OF surprises in that many
old established firms whose credit excellent, and
who were regarded as perfectly solvent, suspended
without word Of warning TO their creditors such
Inns az B. 1. Solomon Sons, Joseph Foulkes' Sons
Booth & Edgar, henry Lawrence Il Sons, E. j..
w.llctts & Co, Joel Hayden e. Co.. S. w. Lewis Co.
ana j. l.. Adams Co., all representative houses
Two savings banks hnvc failed during the half year
the Sixpenny and the Teutonia.
In amount of liabilities stock brokers' and bankers
have Tered the most twenty-hrcc failures being re-
cor,ed, with aggregate liabilities amounting TO
S. s54 26O and assets 1911, 139 The most prominent
failures were those OF S. NJ. Mills Co.; Greenleaf
Norris 4 Co. and j. r. Cecil Il Co. Tho largest num-
Der Of failures in any trade in the grocery
business twenty six were reported. having liabilities
amounting to s97s, +05 and assets $405.2 Tho
principal firms that announced their suspension
were Jay L. Adams Co. and r.. L. Legecit
Manufacturing interests have been depressed and
twenty three failures occurred In which she total ltn
bil.ties were ST. Az 565 assets $5733o3. Fourteen
carpenters and BUILDERS failed their liabilities swell
Ing up TO the large sum OF So. 5ls,047 and assets
$l44 234. John McCooi, OF whom 1t Is said that be
built the Nineteenth ward, was the largest failure
IN this branch OF trade In the boot and shoe trade
twenty Ono failures wero announced, with liabilities
amounting to ST. 076 and assets $675773 Several
large wholesale job5ng houses arc included IN the
list. sun as Powers, CASTOR Il Co.; W. A. Ransom
Il Co. and Cammcyer & Mason The drug trade was
greatly affected In January. but since then has re-
covered Seven failures were reported, 'ail tho
result either directly or Indirectly, Of tho
broker, who sold most Of their paper. Tho
~otal Indebtedness was S1537,153 and assets
$4o6, aos Among me houses which iroa were yonn
land 4 Siigcr; Downcr Il ST. Jonn and William a.
Giles Il Co. Three OF them have since settled with
their aud resumed business seven failures
OF lumber dealers occurred, which the abiiities
aggregated S. and assets $lo4. 927 ihe largest
failures we're Russell W. Adams a. Co. and Btgler d
Co. In inc LIQUOR business there nineteen TAIL
urss tho Liabilities being $500 Oss and assets So3
psussp and their liabilities amount TO $3ll01S, with
assets valued At $54,3l2 The nat trade had xteen
assets s3s7 7o7. This includes the firms OF Jehial
Read Co., joseph Mercy Co. aud Baldwin Flagg.
PRODUCE MERCHANTS AND OTHERS
Fifteen provision merchants failed ~ meet their
SllS.O54 The most prominent were Jewell. Harrison
l. Co. aud Gould II. Thorp Co. In the produce
trade there were seventeen failures the total Iiabli-
ties being $685. 1913 and ssses $53992 Thrce failures
Ersr , "n@ Yooss Smith Co the total aSiss
amounted TO ST. LOO 3l3 and the assets $2394 -Four
firms IN ,hs suppias me suspended :he .1ai iiao
elers have clt ths hard times and fourteen failures
reported, the Liabilities being S50S,s2 and the
| assets $I55. 9S7. Among the nrms were Fellows,
| Forster Il Co, herm,nn Koch aud Post Il Speir.
In the dry goods trade tnoro only seven failures,
10 tue liabilities we're SAT- 5o4 and assets
| Total number Of failures being thirteen and the
aggregate Liabilities, $3.50 6o9 assets sls3 ISL Four
81 567 500 and assets $50, 900. v. X Stevenson Jr
and john Fettrctch being the largest Five railroad
OF 81 $40 6s2 and only S25 900 assets 10 hquidate
The clothing trade has been seriously affected ny the
climatic chang aud eight firms have faIed the tota
Indebtedness being $4S3 1856 the assets $3.50 575
Fourteen dealers III cigars won't under owing $l47 95,
and having assets amounting 10 $4,000 Tue DE-
prcssou In the coal market forced nine dealers
pend with liabilities amounting 10 x545, 752 and asset,
5000 1928; amoog the firms were Water. Donaldson
Co. aud Marston Sons In the crockcry ans
| In which TIE total liabilities were SOL, ~.
| AMI assets $2s2, p56; tho largest failures wer.
those OF George W. Bassctt & Co. and l.. & j. wet
x Co Five auciionecrs JAILED, their liabilities pc n.
S3i6O7l and assets S56,g92. len butchers could no
collect shcir bills and i.ed owing S3t5 l5S and hav
| ing assets amounting to SlO,6i7 Three carriag
makers suspended with liabilities OF $l22, 23f aud as
sets $l56t0 In tue woollen goods trade there wer'
five iaiiurcs. The liabilities beng si65. 452 ana ass CT
Syg6627 Four contract ore went into bankruptcy /,
yet rid OF debts amounting to 1901 5s0 having
Sets valued 900 Nine furnuurc dealers lated
| their total Indebtedness being $6G6,2S3 and asse
| s476 1895 There we're only three failures OF ia
| dea,crs, the liabilities beng S35.05l aud assot
Si5BI7 lhe depreciation tn values forced SIX dealer
| m faces 10 suspend Their total .,iabtlities ben
sl9l G26 their assets $S5,754 SIX dealers In mil
| iturry goods tailed, owing $6l 5s3 and hav.nl
! assets $40 900 In tho iron aud meta trade TIER
were six aufcs Ia which the liabilities were s4'93 "a
ana assets $l6,2lS In the protest. osai line Their
were a nj mber OF noticeable failures, including bv
lawyers who slol, 1sl and have assets SIS. 600
four hysicans, with debs amounting TO s224 90
assets fl04. 100; oas minister, who 500 900
has no assets; one edi,or, with abiiIlIcs amountnl
TO AZ 49, s5 aud assets $l25 o00 two actors who ow
| s-5 pO and have merely nominal nssets. and fou
circus proprstors whose aggregate debts are S274 9S
| and assets $62. 723.
kEcAPfTULATIox.
The following table embraces the numbsr Of nilurcs