New-York tribune., 1879-11-04
HEAVY FAILURE IN CHICAGO.

sTETTAUER BROTHERS co.. LARGE DRY GOODS
FIRM, SUSPEND ACKNOWLEDGEMENTS OVER
MILLION.
CHICAGO, Nov. 3.-Stettauer Brothers & Co.,
wholesale dry goods merchants. al Franklin aud Mad
son-sIs OH Saturday their NewY correspond
ents and creditors tae following notice:
We regret To inform you tnat unable to meet
paS ments, aud have Therefore been compelled to
suspna We shall al one proceed TO examine our ~,
fairs with Wow oi arriving AT our true cOnGitiOn ana
viii su init the result.
David stettauer who the only partner 70 be to-
day refuses TO make tral statement TO the
causes liabilities and dssets but states that he has little
doubt that VIII continue business after time.
RumOr purs the amount al million. The firm has been
considered the strongest and Trustworthy In
yie West, II Is difficult 20 give any reason for the
considerable bek IN heat IL alleged the firm mad
been sprculauug In wheat but dihgert inquiry among
tue failed 10 verify the assertion. Mr. Siettauer
says tie creditors ehtI rely IN IN, East, anu
Il Eu. los ssaled tnat 100000 is oue to
Philadelphia merchants. \. B. Rec.rd, rcirestnlng
Rulus :. Frost Co.. II Boston. and Denny. Poor Co..
N,.w-York. mere IA consultation win members OF
firm. Fun statement O the firms Mars Will not be
rcaGy before the later iar' ni ine werh.
able exc temcnt In bus, circles, and good dea of
spe ula was INDUCED n leSpecun It's causes. IL
reported that the ann invested Iua ter Of mill on in
mines n San Juan County, bat th decaied mpf,ba-
BILE IL related thaC on :, Il d a iansfcr amount ng
10 81 90 900 wa made TO he mother OF member
OF the ilim and hat with months relative named
Kosenfe W sp.id s5O0,oO0 Am '.g he lAueoLeines'
and George &. k.cha. d, n n Co.. oI New-Yo.k, ioI
59o rnss % The S rpposed S"Gns Of Of
The irm eeds 100000 ana may reacn Sl'5OOooO
The firm of Stetlauer Brothers 4 Co. con-
ssts OF Charles and DAVID steIau,r in Chicago, and
George Einsten IN NewYOrk 1hey have an onlce at
No lI5 WoIth-si in this city, aud branches in Paris
aud Manchester Tae S,ettaucrs arc sons-n-aw of Mr.
Rosenied of the old house OF Rosrneld Rosenberg,
winch the present house succeeded IN 1869 The liabl
ies are sad be i'll OF S10OOOOO and many OF
hq. DO
The impression in the trade is that The failure Is bad
one. Tney have paid for very few OF their Fail pur-
ehases ana none the bills maturing IN October Their
sales amounted @oOOOOUO IN tue past year. ana
their credit was very hign.
Their paper sod recently IN this market 10 the ex
tent u OOO of Whcn ali except $2J 900 has been
pnd TIE laws Illinois allow preferences, but the
uugmen "f those best informed Is that all confidential
debs reauy oeen pad or secured most of their
aper was held Oy relatives and TRENDS. The failure
caused nense excitement IN dry goods CIRCLES In tins
civ as all the commission houses are sufferers.
re iargcst creditors are probably H. b. Cafin d Co.. 10
the extent about 100000 OF winch 100000 is unse-
cured. George G. Richardson Co. are heavl creditors,
tDe amount beng currents reported al 100000. but The
rm would give figures YESTERDAY. Tne mills rrpre-
sented by Wright, Bliss faOy are afxe creoIs,t the
trade reports piacug the amount $4,000. but mem
Der OF rm said the figures were greatly exaggerated
S35 900 Colin, Althemus Co.. $4,000; W L. Strong
8roSr SD 90 SO 900 Low nriman 4 Co., oco
Jo, Laugdon :. S2O.OOO William Jo. timer * Co..
Ju.ilard o.. - 800; Fird Alnng. $4,000; Van Vol
keuburgn, Leavlti Co.. $1,000; ". L. Langley Co.,
$4,000; Noyes. smltn Co, $500. Among the firms
currently reported credltOs are: Lawrence & Co..
$4,000; Nelson Brothers Co.; Adrlcn iddiDgs Co..
$4,000; Horace Maxwell POmerOy * Piumpcr; Am
mldon, Lane & Co.. Case, LELAND Co.; Whise, PaysOn
& Co. S25. 900 Francis Baker Co, $4,000; j. l..
Bremer BrOtners * Co., $4,000; Smiih, scribner
Churcnill Wilson a BradDu y: BrOukhelu Linen CoH
paDy York Street Flax Spinning Companyj U ham.
IucSer a. Co., S2O.oOO james +. White x Co.. JohD
sIadc a. Co.; shoriridge borden q Coz oi Phiiadelpna
William sainpsons sons Co.. Pa ker, Wilder a Co.; T.
X Nudge sawyer Co.. $4,000; James L. Little
q Co.
Me Dunn, Of II. Il. ClahIn Co.. and u. G. Burnap,
reureseutng many editors have gone 10 Chicago
to look after their interests dispatch received
by Wood Co. their attorney iu Chicago, sting
that the firm refused TO make statement OF assets
or liabilities and that they had given four mortgages
Yesterday morning on goods unopened In warehouses
for Sl43 900. and trust deeds store premises for
100000. Ine firm owes considerable amounts III
Euro.e where their branches were. dispatch re-
ceiyed y one creditors yesterday afternoon SAID
the liabilities were In Of 81 100000, chiefly 10
New-York firms. The trade estimates OF the liabilities
held III NewYOrk are about @15O.OOO