The New York herald., 1878-11-14
BUSINESS TROUBLES.

THE FAILURE OF DoDD, BROWN co.-REPoRr
OF THE COMMITTEE OF cREDrroRs-A SETTLE
MENr AT FIFrY-Two AND HALF CENTS Ac-
cEPTED.
The adjourned meeting of the creditors Of Dodd.
Brown Co., wholesale dealers in dry goods at st.
Louis was held yesterday at the New York Office of
the Arm. No. II Thomas street. Colonel William L.
Strong presided, and Mr.. John Byers acted
tary. there being two hundred merchants pres
ent. After the meeting had been called to order Mr.
Byers was called upon to read the report of the
mittee appointed at the last meeting to make an
investigation and report basis for ettlement The
committee represent claims to the amount Of over
$3S5,0O0 out of a total merchandise indebt-
edness of $1,O40,000. The committee reported
that the assets of the firm had been carefully
appraised follows:-The real estate, majority OF
which is in St. Louis was appraised by Messrs. j. L.
Kaime and Charles II. Bailey, of that city; inven-
western value and submitted to Mr.. John T. Davis,
of Samuel c. Davis Co., and Mr.. Hugh McKittrck.
of Grow, Hargadine Co. These gentlemen think the
stock might be made to realize eghty-fve cents
on the dollar. The valuation of the notes and
counts receivable including those pledged and under
embracing the names and residences of the debtors,
with the amount Of their debts respectively pre-
pared and placed in the hands of Mr.. W. A. Hargadine.
Mr.. William Medart, the manager of the credits Of
Chase Cabot; Mr.. John B. Maude, of the wholesale
boot and shoe house Of Appleton, Noyes Maudo,
and Mr.. George Scott. the credit manager Of Dodd.
Brown Co., to be classified into 'good, doubtful.
"bad" and unknown" This work carefully
performed and shows the estimate of each
appraiser upon every one of the 5000 debtors
taincd in the schedules An average valuation has
been adopted in all except where the debtor
marked by the outside appraisers "unknown," in
which case the appraisal of Dodd, Brown Il Co. has
been taken. The report of the committee closed by
recommending settlement with Dodd, Brown 4 Co.
being the best for the creditors and all concerned,
the amount and terms Of the to be follows:-
'Ffty-two and a half cents the dollar. payable,
fifteen per cent in three months, twelve and q half
per cent in six months twelve and half per cent in
nine months and twelve and half per cent in twelve
months. said payments to be evidenced by the
promissory notes of the debtors, without interest,
dated December 3 1s7S upon the like claims and for
the like amounts and the last two notes to be salts
factorily indorsed. Accounts to be made up as cash
December 2, 1873
On motion Of Mr.. Oliver Hartman of the Arm of
Low, Hartman & Co.. the report was accepted. Mr..
c. N. Bliss of the firm Of Wright, Bliss Fabyan.
moved that the creditors adopt the terms Of settle
ment recommended by the committee. This motion.
with amendment by Mr.. Isaac Wallach that the
committee be continued and the whole matter left in
their hands. was adopted unanimously, when the
chairman stated that the committee had decided not
to sign the settlement papers until certain large cred
itors had agreed to sign Also The meeting then ad
journed.