The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-04
BUSINESS TROUBLES.


A LIQUOR DEALERS HEAVY FArLURI.-EMBAR.
RAssMENT OF 4 PEARL STREET TEA DEALER
James REID Co., wholesale liquor dealers at No.
IL Broadway, 1ave made an assignment Tor the bene-
nt oil their crrditors to Mr. Francis Higgins The firm
Is composed 'of James Reid james, Reid and mas
been esiabD shed thirty years. with an excel
lent reputation and credit They invested largely IN
real estate, aud this Is the cause OF their en-
barrassnent The assignment was very sudden and
was LID ade TO protect the mercha creditors and
to prevent any attachment. Mr. Morgan J. 0'Brien
the attorney for the assignee said yesterday
acc. cunts mad not been made up yet, but
could be ascertaned the total liabilities were
about SEQ, 900, Of which $4,000 was mortgages
real estate and $4,000 Tor merchandise
equally distributed among European and domestic
creditors. Tho banks were the priGcipal creditors
here discounts. Tho real estate the arm
since 1870 $500 600. and mortgagcd tor
$780, 900. anu there was expected to be deficiency
OF $40 ooo which would make the total loss real
estate sls0o00 This together with the losses bad
debss general business depression. had forced
them TO suspend The real estate is located New
YORK, Brooklyn and westchsster. all OF which is
improved excsps the Brooklyn property. Thsrs were
very few creditors here and they haa expressed the
desire that the arm should continue business. He
thought there was no doubt OF obtaining satsiac-
Tory settlement The assets were valued at 100000
consisting OF stock, book accounts and bills rcceIv-
able.
kemsen Appleby, who formerly proprietor OF
the Central Park Garden, ut the corner oil seventh
avenue ana Fny ninth street, has nled a voluntary
petition In bankruptcy, before Register Little. HIS
Liabilities amount to about SOS, 900, all unsecured.
Among the creators Leonard Appleby S32, 900;
Benjamin y. Siaytcr, So 900; Teller Brothers, of
Philadsipbs, 81, 33S 81 hs assets consist prom
issory notes lvr SlU62 10; clothing and furniturc,
$500; 400 shares OF the New YORK and Newell Run
retroieu UNI Company anu ten shares OF the hoffman
Petroleum Company, the value oil which unknown.
The debts were contracted during the past eight
years
A voluntary petition In bankruptcy mas been filed
before Register Dwight by Oscar d. Dixie, dealer In
teas AT NO ia Pearl street. HIS Liabilities amount TO
SlJ4,O0 He made an assignment IN 1875, having
sssets amounting TO SAL 900, out OF which cvpiend
twelve per cent reaizeo and paid TO The cred
ors. The principal creditors mentioned IN the sched
money loaned; Townsend, Cnuch Dikc IN aquda-
ton Of rship account S3G, 643 % DIX Morris,
81 $50 90; Mercantile Insurance. company 81 G07 ~;
Z H. krossgaard, <4o2l IS; Haiett Green, sssgnse,
Sl2, $50 So
A meeting OF the creditors OF Christian s. Deiavan,
broker real estate, at No. 80 Nassau street, was
held yesterday NJ tho Office OF Register Ltii scned
uos were presented showing that ms habintes
amour ed TO $4l,076 4S, distributed among Eve cred
Only one claim was proved by the Commercial
Union Assurance Company, OF LONDON, tor $1,000
John III. Plat was appointed assignee ID bankruptcy
the hrm OF Vail, Shotweu Il Co nave notified the
Produce Exchange that they unable e. meet their
mercantte obligations and all contrasts with them
nave been ordered closed under the rue.