The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-10-03

. tOndIul1s dUu Oabtlr. nv hfEut thtbC
was banquet at the Exchange Hotel.
But the Bell Il now no more.
SUSPENSION OF MEssRs. OLIVER Il ROBIN.
son, T0DAcCo MANUFACTURERS rumor
has been current for several DAYS That
Messrs. Oliver Il Robinson, extensive to-
bscco manufacturers, doing business on
Brook avenue near CLAW street, IN this city,
bad become seriously involved financially.
On Saturday a member OF that firm was
visited by representative OF this paper,
and the reports were to n certain extent
confirmed.
The estimated liabilities OF the firm are
reported TO be about one hundred and
eighty EIGHT Thousand dollars. with assets
equal TO one hundred and sixty thousand
dollars. Including the excess on the mort
gage at the assessed value OF the firms real
estate and their stock at cost. with good
bills, they appear 10 be short about twenty
eight thousand dollars.
The suspension has been brought about
not alone from serious losses, hut for the
lack OF ready capital. and the heavy inter-
est account which Messrs. Oliver Il Robin
son have had to carry. reaching nj one time
thirty-slx thousand two hundred dollars.
II was stated Yesterday that deed o, as.
signmeDt had been fled in the Chancery
Court, but such was not the case, and the
names OF tae preferred creditors were
therefore not ascertained.
The failure OF Messrs. Robinson, Lord e.
Co., OF New York, and OF Messrs. Lord &
Robinson, Of Baltimore, mentioned in the
extract below, was not, 1t appears, con-
sequent upon the failure Of Mcssrs. Oil
yer 4 Robinson, OF this city, as was at first
supposed, as the latter firm state that the
two northern firms are involved, so far az
they are concerned, only To the extent OF
about S45 coo. An assignment, however,
for the benefit of the creditors OF Messrs.
Robert w. Oliver and John E. Robinson, OF
this city. TO Oscar 5. Grady, was filed in the
county clerks office at New York on FRI
day.
The business community OF Richmond
generally and the many warm personal
friends Of the two gentlemen whose trou-
bes are now made public sympalhize most
heartily with Messrs. Oliver 4 Robinson,
and many kindly and substantial offers have
already been made them. At this time no
definite plans have. aS we understand, been
inside By the firm for future business ar
rangements, but it is hoped that their sus-
pension will only be temporary.
The New York Herald Of yesterday makes
the following statement:
The announcement OF the failure OF the
three firms Of Robinson. Lord IL Co., whole
sale dealers in wood and willow-ware, at
No. 147 Chambers street; Lord IL Robin
son, manufacturers Of wood and willow
ware, at Baltimore; and Oliver d Robinson,
tobacco manufacturers, at Richmond, Va,
aud at No. 7S Warren street, astonisbed
trade circles Yesterday. The failures hinged
on one another. Oliver & Robinson. being
the first 10 20 under, thus caused Lord x
Robinson to SUSPEND, who in turn forced
the suspension OF Robinson. Lord u Co.
The firm Of Robinson, Lord & Co., OF this
city, comprised the members OF the BaIti'
more firm. together with Rowland II. Rob.
bins and Russell II. Robbins, the latter two
constituting Tue "Co." They were estab'
| lishsd in 1885, and had a large and profta
Bile business, their paper ruling at I pei
cent. and their credit being uDquestioned
Many OF the creditors called upon then
Yesterday and expressed the greatest sympa
thy for their misfortune, and offers were
freely made Of goods to enable them tC
carry on the business without interruption
Oliver Il Robinson, Of Richmond, Va.
and No. rs Warren street, New YORK. have
maze an assignment III DotH CtticS' u'
assignment was fled in this city yesterday
to Oscar 5. Grady, in trust. OF all thell
assets at No. IS Warren street to secure ii
W. Matthews, their New York agent, fol
S30,7S2 Indebtedness OH dr,ftS, he being
their accommodation acceptor OF draft
and endorser. The house was an old
established one, did = large business
and had excellent credit. Mr.. Robin
son came into the firm in January
1878. He owned real estate valued a
from $3.50, 900 to 100000, and Mr.. Oliver
real estate was valued at from S20,00O L
$50. 900. Their liabilities are yarious!y e,ti
mated at from 100000 to $500, 900. the for
mer being regarded as nearest the correc
figures. The members Of the firm surren
0ered everything they had for the benefit
their creditors.
1t is stated that the firm OF Lord II Robin
son will continue business. and il is asserted
on The best authority will pay dollar for dol
lar to their creditors.