New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-23
LOCAL MISCELLANY.
HENRY. CURRAN e. CO.'S CREDITORS.

HENRY, CURRAN q CO.'S CREDITORS.
NOT IN FAVOR OF THE OFFERED coMPHoMIsE-
PROCEEDINGS BEFORE REGISTER LITTLE.
A large meeting of the creditors OF John r.
Henry Curran Co. held at the Aston House yes
terday. The question of accepting the firms offer to
pay 37ls cents the dollar Will be considered at
meeting to held Monday. Yesterdays meeting was
held the interest those creditors who opposed
to the composition terms Mr.. Laird offered resolutions
the effect that the creditors ought not to accept the
37o cents offered that receiver ought to be appointed
10 take charge OF the property and that the expenses
ought TO he paid by the bankrupts Mr. Cogae said ne
did not think the affairs the house were In shape
to offer fair compromise; in hts Judgment
receiver ought To appointed and the store opened
g. Hull of couse for creditors said lac salts
fed the firm coud pay more than 31l2 cents a circu
r had been sent out 10 the effect that the nrm mad
made amicabe settlement with it, creditors this a
pegred TO him to he attempt to mislead creditors; 1t
looked If somebody did not want 1t 10 he known just
how much the Arm could pay. Mr. Farr, member Of
the Committee Of Creditors winch examined the accounts
OF the firm, said the committee had been siandercd as
each day for week 10 the Investigation of all the
C. Edgar smith, counsel for J. c. Aver Co.. said the
case Vas that there motives and interests hidden
which were not for the best interests Of the
creditors. He did not want TO throw obstacles In the
way OF payment to all tie creditors, OF ~ per cent
hut he wanted for the creditors he represented all that
the property could pay he had told Mr. Henry that the
Trademarks belonging to the firm ought 10 be valuable
enough 10 100000 the creditors. Mr. Henry.
in somewhat the form of threat, had sand that II the
dispute the right OF the creditors TO any relief from
the value OF the trademarks
Mr.. Hal said good men would pay 100000 ior tne
trademarks Mr. Saunders, counsel for the bankrupts,
said the latter had signed petition for receiver bat
Mr.. Dewey the assignee had declined to sign for legal
reasons, thinking the creditors might hold him account
abic Mr. Colgate offered substitute for the original
resolutions that the creditors assembled did not think
the time favorable for compromise and that they
in favor Of the appointment Of Mr. Dewey as
temporary receiver. THIS substitute was adopted.
John +. Henry gave further testimony, yesterday. IN
the examination before Register Little Mr. Henry said
the schedule did show That any definite value Dad
been placed on the trademarks lie thought most OF
the credits worthless having expired 10y lin
;talion. Some the largest items were for patent
medicines which always sold on tiIne The inns
commission book showed that SlOi $50 81 was owing
il commission. The drugs IN these medicines did not
cost Oue-QuartUr OF that amount There was a large
amount Of paper out, and complete schedule would
need be made before the D Indebtedness OF The 1rIn
could he asocrtained
Mr. Dewey the assignee said that IN his dgment the
accounts receivable aggregating 100000 were not
worth more than S34 900 $50 900. He thought the
shares IN the { c. Clark and the Manhattan Medicine
Companies were vauelCss. At the time OF Mr. Dun
Bng's failure hc had in his hands al the OF the
firm S5O.OOS bills receivable, ana 95 bills payable
Since March, lS17 Dunning had sold paper for the firm
and had bills receivable discounted the amount of
S542, OH. lie did not know how much paper remained
unsold in the hands OF MI Cummings assignee, but had
gained the Impression that heTe between 100000
and $4,000 He had not succeeded IN getting an ac
count al THIS paper 1hC firm liable. inhOrseTs
fer Sl44 $50 A. of which S9jS0l would probably not
DC paid by those for whom the paner was indor-cd
Leaving ont contingencies 10 the amount OF Sl6Ooo
S35 ,260 20. Tie examination Will be continued
a noon tO-lQY