Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1879-05-29
GEORGE ". WILLIAMS & CO.

There was some excitement in business cir.
cles here last Thursday, caused by the an
nouncement that the firm of Viii ians, Bir-
ME & Co., of New York, had suspended on
the Cotton Exchanges This house is under
stood to be branch of the Charleston house
of G. W. Williams & Co., and naturally
enough fears were entertained that the COM
plications of the New York house might in
volve that of Charleston, the embarrassment
of which would be seriously felt throughout
the State. Fortunately those fears were I'M
grounded. So far our as information goes, the
Charleston house of George. W. Williams &
Co., is solvent and will go on in the even
tenor of its way, unaffected by the New York
suspension. The Me,os and Courier Of Thurs
day, noticing the event, says:
Yesterday morning it was currently re-
ported that Williams, Birnie Il Co. were
"short" of 10000 bales of futures" involv-
ing a loss of several hundred thousand dol
lars Some anxiety was felt, as Mr.. 6. w.
Williams, of Charleston, was known to be
connected, more or less, with the New York
firm of Williams, Birnie & Co., and it was
feared that the firm of G. w. Williams q
Co., of Charleston, and the Carolina Savings
Bank, might be involved. This is not the
case
The firm of Williams, Birnie d Co., Of New
York, had no connection whatever with the
firm of G. w. Williams & Co., Of Charles
ton, but Mr.. Williams, the senior partner in
the Charleston House, was limited partner
in the New York firm. Neither the firm Of
G. w. Williams & Co. nor the Carolina
Savings Bank loses dollar by the NeW York
failure Mr. Williams was in New York
when the trouble came on, and with charac-
teristic coolness and courage insisted that the
New York firm call halt, and "make their
loss" This was done. The firm was dissolv-
ed And every draft made upon Williams,
Birnie & Co., has been promptly paid.
The firm of G.. W. Williams q Co., has
almost unlimited credit, and yesterday morn
ing the managing partners here were ap-
preached by wealthy friends and offered any
assistance they might need. No help was re-
quired, but the kindness that prompted the
offers was appreciated and will not be for
COTTON. At the Carolina Savings Bank the
experience was the same. A few thousand
dollars were drawn out early in the day, but
against this is set the opening of new ac-
counts by gentlemen who seized the occasion
to give practical evidence of their confidence
in the Bank and Mr.. Williams.
From the New York Times, alstl
The excited bull movement in cotton, re.
ported in yesterdays Times, continued yester.
day and a fuEther advance of 90 points, or !
cent pound, was recorded up to Lab o'clock,
when, in the midst of the excitement, Will
liams, Birnie & Co., of No. rs Beaver street.
sent notice to the Cotton Exchange of their
inability to meet their engagements. The.
firm was regarded as one Of the wealthiest
and most stable in the business, and the news
came like a thunderbolt, knocking the mar
ket off 80 points, but it afterwards partially
recovered when the true state of affairs be-
came known, closing at 43 points above Mon
days closing prices. George W. Williams,
the senior member of the concern, was orig.
inally in the Wholesale grocery business in
Augusta, Ga, the firm, Hand, Williams q
Wilcox, being one of the best known in that
region. In 1861 Mr.. Williams removed to
Charleston, and founded the firm Of George
W. Williams & Co. Shortly afterward he