New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-25
BUSINESS EUB1RR1SSNENrs.

| THE ATTACHMENTS AGAINST BOWIE DASH co..
| MEETING OF TIE CREDITORS OF y. b. HARDWOOD
co.
| The attachments against the estate of Bowie
| Dash & Co., which have been obtained by several
banking houses 10 secure indeb edness on foreign
credits were removed yesterday. These attachments
could besecured only the complaint that the debtor
was about to away to defraud the creditors
of their 1usi ducs The abandonment of the suiTs il
part Of the bankers of the weakness Of their COM
plaints In consequence OF the assignment made
| Wednesday by Bowie Dash Il Co. the publication
of tho financial condition OF the firm has been post
| poned tor a week or ten days Al previous work
has TO be gone over again under the supervision of
KiddeT Peabody & Co., as agents Of Barring.
! Bros. & 20. have begun IN action against Bowie
Dash " Co.. 10 recover certain merchandise and Sc
cuuues In the possession OF the defendants. The
complaint alleges that between February ] i, 1850
and August 30 1850, The plaintiff, delivered TO o. c.
kimball & Co.. OF Boston, letters of credit for
amounting IN Tue ag9regdte To ~. least 12oOOOO.
1t understood that drafts against these letters
should be AOnored when accompanied by bills of
Iauing. IL Is alleged th3t hlmDdH AZ Co. entered
INTO an unlawful agreement 60 foresiail the market
with Bowie Dash Co. Upon the arrival Of the mer-
clIaudise, they were delivered TO klmbai 4 Co, to
bold OF DISPOSE OF in trust for TIA. plaintiffs II is
further alleged that Kimbail IL Co. delivered the
goods 70 Bowie Dash ~ Co., VINO have sold part Of
thcm and still retain part under their control.
The plaintiffs have made application for an IN
junction To restrain Bowie Dash q Go. from dis
posing OF the goods or the proceeds thereof and for
Tie alpOlLi mCat o. receiver, pending the lugd-
tion. Judge Van Worst yesterday appointed James
W. McCniloh receiver
The creditors of \. b. HarwOOd * Co. OF Mime
apolis MIMI, who failed some time ago. held
meeting Thursday al No. $50 Broadway. there
were present about one hundred merchants of this
city who have claims against the firm. A report of
the committee appointed TO investigate the failure
stated that the experts sent 10 Minneapolis to
examine the accounts of the firm had brought back
a report that differed very little from Mr. Harwood's
statement before submitted. a letter had been re-
ceived from Mr.. Harwood in winch he proposed
TO pay each OF his creditors 30 cents on the dollar.
Owing 10 the delay OF nearly a month before any
concerted action was tai gen by The creditors, the
affairs of the firm had become hopele5sly entangled
through legal and other complications greatly re-
duciug The amount OF available assets, aud creating
several classes of creditors. In consequence there
would be little left for the unsecured cred
Tors alter satisfying the confessed Judgments
The only two plans which presented themselves
were TO accept the Offer OF 30 cents, To await the
results of the distribution of the assignee. Com
bned acton under the circumst ance5 was m
possible, rs majority OF creditors had already, by
Tepleyns aud attachments sought to enforce their
claims. Mr.. Colby who presided, said that the
committee wa. OF one mind IN regard TO the offer of
HarwoOd q Co.. and that was that n should not be
accepted. In consequence no action was taken,
aud II Is thought thdt each credi will now act
on is own responsibility, - the committee was dis
charged.
From The statements furnished by the accountants.
Aessrs. Hardinys aud Burnap. 1t was estimated thar
n a settlement could have been Effected November
4, before confession of Judgment ali tie creditors
being taken alike, lucludiug Mrs. HARDWOOD the
assets would have amounted to 50 per cent OF the
Liabilities. 1t the wlfes clam should be stricken
ont the assets would have PAID 80 per cent, and
hidrlng the Judgment creditors as secured, 90 per
cent
The compromise settlement offered by T. Hrsh-
neld ~ Co., BuuaiO OF % cents, ana accepted by
Their creditors, most OF whom are New-York mer.
chants, cannot be carried ont owing TO the refusal
OF their friends IN BuitaO 20 fulfil an agreement 70
lndoise the compromise notes.