The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-10-23
FAILING FOR ONE MILLION.
7HE SUSPENSION or 4 GREIT DRY
GOODS FIRM ~ ST. LOUIS.

Three Hundred New York Houses Interested
Heavy Losses In the yellow Fever DIs-
tr,cts Kumors sined and rnct. Obtained.
The suspension Of the great dry goods
house of Dodd. Brown 4 Co. ofSt. Louis. with an
Indebtedness OF VI 900. 900. distributed among
about $40 firms In New Yors made greater
commotion yesterday among dry goods mon
than the trade had seen since 1873 Had the
losses fallon upon u few firms other failures
would havo followed here. but tho losses are
widely scattered among strong houses
Mr.. T. l.. Rushmore. tho East ern buyer for the
failing firm. was found in Dodd. Brown h Co.'S
New York Office. at II Thomas street last ovcn-
ing. He said: have received no particulars
OF the failure whatever. II took me completely
by surprise. All | know Ia that the firm was
solvent and met all its obligations up TO last
Saturday night. On Monday we received
briof telegram, saying that tho firm had aus
pended. with liabilities from 81 2O0O 900 to
n,5OO.000. am not authorized to speak for
the frm aud do not know what cause they will
assign for their failure. They had u very large
trade In the yellow fcyer district, and they must
have lost heavily there They did large bust
ness also IN TeNns and the southwest. and their
COLLECTIONS came in slowly think II probable
they were emhnrrasaed from both causca- tho
fever and tho difficulty In maxim colo 'tions.
MIR brown, the junior partner. who has been in
Nrw York Tor s"vcral wcoks. received kilograms
every day advising him OF the sales aud
receipts He hal spoken frequently lately
OF the dispropoition ui sales TO collectiOns and
before he started for 81. Louis. two or thrcc days
age, he remarked TINT the arm appeared to be
not hrieve he know that affairs were ~ critical:
but Mr. Brown Ia "A man who would shut down
business tho moment he Thought the firm was
becoming insoNent, aud would pay his cred-
iiors all that he possibly could rinse. Neither
the st LOUIS house, nor the creditors here can
yet 'll Whnt the Indebtedness is or what will bo
the amount of the asscts. There ia "A lurge
guanuN OF, goods nov, in transit from New
they be- stopped aud nut into warehouses sub
lect 10 Tho ahippcrs orders. Everybody Will be
dealt with honorahy aud trust when a settle
mrnt is made II Will prove that the faslurc was
not 80 bad as It has been reported. Mr.. Brown
informs me that he is at work ON statement
soon "A possible. il win probably be ten days
before the statement Is ready"
The creditors ot Doid Brown 4 CO. differ in
their opinions OF the house. One large import
or OF dry goods said that he had known the firm
g. bc in a sink v condition for u long time and
several I months Thcy did i srse s,p r sS'
he said ~apd don't know why thoy need fail.
Mr. Dunn Of ii u. Clnfin h Co said that his
firm were large creditors OF Dpdl Brown Co.
They had always considered them desirable
customers. and their failure was surprise
Mr Duhn Sali ne would rather not say the
amount OF Dodd. Brown \ Co. Indebtedness 70
s9 sp1 AnS5er was NE T9d bd ,hS 9y f9pa
they had sold Dodl. Brown 4 Co. $1,000. 900 or
NOOD.Oou worth Of goods within the last few
years. and their loss now was comparatively
trifling
From trustworthy source 1t was learned that
II. b. Cafin 4 Go. were tho largest creditors.
having a claim Of littl" more than 800 900.
The amounts due other firms range from
$4,000 70 i9oooo. Among the large dry goods
riman \ Co.. Wight, Bliss 4 Fabyan,, James l..
Little. George G. Richardson. 4 Co. Lewis
Brothsrss& 4 g.. Parker, Wilder h CO. J, l. Bre-
Lane Co. Van Valkcnberg. Lcavitt K Co..
Feulkner Pcase \ Co. and Garner Co.
b50Tn r VII ksP, SSs aa go aGeSpp 1 at the
paper. secured by collateral. They kept no
other account in the city. Early. in the day YES,
terdny thore wer" rumors IN Wall street IN at
ono or both members Of the lrm had brought on
the failure hy losing speculations in stocks Mr..
hushmor". M hrms reprnscniaiive. cmphau-
member oi the firm ever engaged In spccula-
ton.
agood rating-a capital Of $500 900 10 81 900 600
At one of tho agencies I was snid that tho firm
had not given satisfactory answers to inquiries
regarding it, Standing for several months
About two hundred requests hnd heen re'ctved
from subscribers To- this agency since May last
for Information as To Dodd Brown \ Co.'S
soundness. Many inquiries came from Boston
Hartford New Haven. and Phialeiphia where
the firm has debts amounting 10 ijo0,OoO.
With two Or three except ions nold Brown 4
Co. were the largest dry goods jolbers in Tho
West. In the past twelve years they have
bought, II is estimated by one II their creditors
New York market Their sales for the last
three or four yenrs have been about four mil
lions a year. The house was established soon
after the rebellion by samuel NJ. DOdd and
James q Brown general partners. with Fisk
knight 4 Co, "A 81 Louis boot and shoe firm. rs
specinl partners. About five years AGO Mr. Fisk
died. and Mess,s. Dod1i ana Brown bought ont
th' other partners They ure both natives OF
New Jersey and have n large acquaintance in
this city. MIR Brown spends mu IA of his tmo
here. AMI has residence in Englcwood where
Is his family.