The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-26
BUSINESS TROUBLES.

|
| AN EXTRAORDINARY NUMBER OF BANKRUPTs-
PROCEEDINGS BEFORE THE REGISTERS.
The expected repeal Of the bankrupt has had an
alarming effect on debtors take advantage
OF It's benefits while Il Is yet farce. has caused
them 10 rush into bankruptcy. Reports from all over
| the United States show that during the past three
days over two hundred petitions In bank ruptcy have
been FLED. The majority them are voluntary cases.
The greatest number is In the large Western Cities
particularly IN Chicago. while there parativey
tow IN New YORK city Boston and Philadelphil
Arnold Flesh, David Flesh and Justus Mueller, COM
posing the hrm OF A. l. D. Flesh 4 Co.. impor-
ters Of fancy goods, late OF No. 81 Franklin street,
| have gone into voluntary bankruptcy before
| Register Ketchum. Their liabilities amount to
about $4,000, large portion OF which is duo
to creditors IN Germany and France. The following
are tho principal creditors contained In tho schedule
Metropolitan National Bank, $3l.l43 20; Hibernia
Bank, OF ST. Louis 81, o46 10; Atlantic State Banx OF
Brooklyn, 49, sos 10; Charles Karcher s. GIL IS; Lo
| Moync Il Son, 81, 800 80; Merchants' Exchange Ma
tioual Bank, 81. $50 s5 Van war Co., 50 29s So;
| d. Roessmer' X Co., $3.S9l 10; Dsnsby Co.,
| s2,32S os; Deimott, Berneau Il Co., s.. 600 10
| Paul 'Zunz Henry IL. CAIN Adoipn Son weiue,
composing the nrm OF Paul Zunx & Co.. importers Of
who're ca,us as ioiiows:-Augasts Charles
zunx, Siios25 All Abraham B.cKer $l4. 500 80; Ben
/ v.
| $4l9 So; Sigmund Cohu, 81, 337 80 An order has
been issued Tor the partners 70 show cause why they
turaable on April ~. Tho liabilities amount 10
! $22l,00
samuel E. Thompson and Edward p. GiIson COM
| tobacco commission merchants No "a Broad
ssfos Rssse gone , nso Ss ary sScs
amount TO about sl6O.0oo, and Mr. Thomr-
r"I on ooox 81 ooo enc
81, 600 The Fourth National Bank Is secured
creditor for s2s 600 Ga four promissoy notes Tor Dor
heads Of tobacco, valued FAT $4,000. fbe following
are among me unsecured creditors: -Amercan-Ge
man National Bank Of Paducah, KY Ss6 900; Alexander
Bank q raaassa Ks S. 500 a. Cay s4si.aai Bank
OF Paducah ~ ia 10; First National Bank OF shaw
neetown, ~. 50 200; Fourth Nalionai Bank Of New
York. s.. 400 %; David Bows h Co, $4,000; q b.
Kidder, Peabody \ Co, So, l54 90; JARVIS 4 Co.
50, 4sd %; q, r. Hudspstn y Co., $4,000. ta
by stephen Conweii, OF Kingston VINO has liabilities
amounting 70 $4,000 and nominal The largest
claim i that OF the estate OF Ward Work, S. 100 So
Register Dayton has adjudicated Thompson n Couk-
In produce commission merchants ut No. 81 Green
wich street, bansrupts their own peti,ion. rho
schedules show liabilities amounting 10 Sll 200 aud
nominal assets $40 S00 consisting bills OF exchange
s Hps National BANK S. S ssss
River National Bank, 81, TAT 10; John s. Martin Il
rue a,iure Of Joseph Kolin Co., manufacturers OF
cigars ut No 100 Columbia street. IL reported. and
the result Of the failure OF Le1erer Fscho tobacco
|
paper The Liabilities are reported 10 be about $4,000.
Charles l. d. Spal' hof. coal dealer ut the loot u
Twenty ghth street and East River Assign.
ment yesterday tor the benehl OF his creditors 10
Nicholas II. Fanrenholz. He formerly the real
estate business and has been the coal trade Tor
about three years lie had good credit amt rated
| worth ABOUT SIG, 600
wholesale dealers 10 wooiens At No. AZ White street,
Of whoa frederick Lewis assignee, held yes,er
day the ofce OF Register Little, and the compost
ton Of twelve and halt cents on tho dollar
unanimously confirmed.
| aMfg JOHN BONNER & co. fss
ChiefJusIice DAILY yesterday rendered his decision
on tho position Of Osborne h Co., which came before
HIM a report made by the roferee In the matter OF
the assignment Of John Bonner 4 Co. The referee,
as Will be remembered, was appointed to ascertain
ccrtAin facts IN relation 10 the claims Osborne
Co. other brokers to tho surplus Of moneys
Shoe ana Leather Bank. Osborne a. Co. 1lsd their
petition asking the Court to direct the bank pay
| the surplus to Osborne Co. other broke on
the ground that II Is the result OF certain securities
hypothecated TO loans Osborne %. by
the petitioners with Bonner Co. and rony polnccatcd
by them with the Shoo aud Leather Bank to secure
the payment Of certain loans nado ny them Bonner
Co. Chiof Justice Daily in ILLS opuion says that
Bonner Co. nad against the pctltioners clam
TO tho surplus IN the hands OF the bank The stock
was pledged with them security ior money Dor.
rowsd and epledged by tnonl with the bank tor
| money borrowed from tue bank. Phe bank have sold
the stock tor greater amount than the borrowed
from snem, and having been paid their debt they
nave NO claim 70 the surplus IN their hands ana as
understand make none. bonner n Co. nave no
CLAIM 70 H. ihsy received, NY rspIetglng Tho
stock as the referee nnds. the whole amount pro-
prouonaily tor securing tho payment Of which twas
piedged ~ them by q. Osborne 4 Co, Wheeler a.
Thomas and Robbins h Robinson. Practically they
have been repaid and the bank has been repaid aud U
Bonner Co. could have claim To the surplus
creditors can have mono. the petitioners eLti-
tied TO return Of their STOCK upon offering to re-
| Osborne Co. offered TO do so, Tut Bonner & Co.
could not return II, Tor The reason that they
had parted with II The petitioners, tho owners
oil the stock, are eptitled 10 whatever remains
In tho hands OF the bank, tho loan by Bonner Co.
and tho loan by the banx being paid through
rcpiedgiug aud sale OF the stock. If tho BANK sold
the stock without dem md from Bonner n Co Of
amount loaned upon u Is nncr Il Co injured,
for they have received all they advanced upon The
| amount 40 advanced was the extent Of all right
injured by the sale OF it were tho petitioners The
petitioners mot seeking indemnily tor being de-
prved OF II by the sale could against tho
bank, being bona adc holder. Tnoy SIMPLY
| AZ the owners oil the stock, asking
| tho payment TO them OF the surplus which
spectively OF Bonner a Co OF bank have been
satisfied wholly fafi 10 what right loyal or cQu.
table, Bonner Co. . assignee tnis surplus.
| stock never became the property OF tho ashignorp
They had tho righ merely to bold II security tor
the repay mont oil tho amount advanced upon 10 aud
sell IL u upon demand payment OF the amount
| loaned was refused They made no sucn demand, but
wropguIiy rcpicdgod Il 10 another, uud neither they
nor their creditors ose anything by tho payment Of
tho surplus winch remains " those TO whom II RS hit
tailed the surplus, 10 DO distributed they have
| between themselves agreed upon.
| John ". HENRY A 20.