, 1880-12-07

6ptftd4 UHHQlth 10 Int Lhtt1do lftpknd.
NEW YolsK. Dec. t.-'rho Committee to.
whom was referred tho investigation Of tho
statement submitted to Eastern creditors by
tho bankrupt dry-goods 1lrm of 1larwood i
Co., of Minneapolis, Mlnl,, held a meeting
at the st. Nicholas Hotel this evening. Thcrc
were somu fifty persons present, Including
tho legal representative Of llarwootl & Co.
md tho manager of tic late tlrn,. The Conf
,nlttco presented q lengthy report. stating
TINT they f,ad examined 1Iarwood's book-
keeper nml his general manager, WHO had
submitted revised statement Of tllo
FIRMS condition Dec. !, and which
wns, In substance, as follows: THO
assets wero shown to bu S1.0SD, ,030.N, Of
which $3.50 443s a wis merchandise, ae9, -
accounts receivable, Sl6,SS4.40 bills recciya-
bic, S25 5677.G3 real estate etc. III the liat1Ii-
ties the bills payable arc SIN, ,5070t; accounts
payable, S755, ,507.73; Mrs. 1iarwaot's note,
5ss5S0, etc.. tota1 81, lad. lol.6 90; deficiency,
s37. 7.1a0.75; confessed Judgments, si20, ,4T.W,
THEY find that
NO DETAILED ACCOUNT OF STOCK
Ind been take1, but the figures presented
to them (StSD, ,4Tl.24) ha'l been arrived Mt by
taking tla Inventory OF July |. Tho cstt-
limited value 0f which to linrwood & Co.,
without regard to cost.w S:00 100, atid ntltl-
ing 10 1t tho purchases and expenses since
ttlat date and subtractlng tho sales.
Thu accounts receivable contain no suspend
cd ACCOUNTS, md will probably yary fow
hundred dollars from tho estimate they have
,nato since July /. Hills receivable amount
lltg to Slo,ssl.40 arc estimated by the manag-
or to be worth 30 per cent, but they arc l,ostr
ly past due. The real cstatu consists Of trncts
Of lnnu In ynrfous parts Of the Stnte. The
manager says lInrwo0l tias ll0 other. lie lIns
charge of tic deeds, ana has seen no other.
In regard to tho furniture oIt fixtures !n the
store, there Is q marked discrepancy III this
| statement md tho former ono, which Is OK
planned by tho statement TINT
80. TIE ultElt HToKf or THE STORE
was finished BY lIarwuol Mt Ills expense. II
is valuable to him II Ae holds the remainder
OF the lease, but Is forfeited If tic lease Is
Cancelled. III regard to the First National
Hank, tho. nl1nagor states that most Ut tho
s2.:5, nj. .05 III this bank lns been slnca paIsl
out upon notcs md salaries tlue clerks aIlti
girls III tho factory,-i. C., liabilities for
wages. Tho suspense account was charged
of July l at an estimated value OF $500.
Tho manager states TINT llB Malo the present
estimate when tho former statement wits
ulude, b,,t 1t WINS not accepted then. undet
tho head Of liabilities, tile Committee say,
upoll tho subject OF bills payable, tlat Iar.
wood Inns been IN tue lablt OF making paper
which did not represent merchandise pur'
c!,ases to 10 sold IN New York, but does moi
know to what extent, Us lIafwoou nla4e the
entries -...
IN 4 PRIVATE NOTEBOOK
which ho kept hlnsplf. iie had known ot
no paper bofltg sent In thfs way tho past veal
to my one but uogert, but lInrwo0I lid tlle
EAstern business himself excllslsety. 6DMe
Of the notes given At tho bunk Ind beer
removed. Tho bookkccper says there art
about 3s8 creditors, about :75 OF them East
They now. 0wo one house about S@5o0o, II
whom they paid $4,000 n week or ten day'
before tho failure. This WAS upon open nc
counts. a portion Of which lIasl been r1''nltt
since last April. The h0okkeoper does no
know how many goods were b0llglIt bctweel
Sept. and Foy,1.' They had paid out In tha
timo about SIX, ,00o-Si5o,0o0 IN September
sud 500, 900 IN 0ctobak. upon tho laatter o
yNE NOTES TO SUSAN y. HARDWOOD,
tho report says;
Ills counsel stated that IIarwood claimed sht
following: lI9rwoud was worth S:p0 600 OH Ia1l
!, 1877, NofoFu that time he Mas IN buslnoss Il
bt. raui, and osortures weso mndo to him b,
citizens OF minneapolis to rentoyo to that city
His MiSo War much opposed to going. and finally
/ to obtan her consent, ho aYse0d to Ktvo he
half OF his property, which he did. After golnI
! Ia Minneapolis he found ho ueedel her mono,
fur tho business and took It. l.ately Hl
tho household e1punsca have beeu paid out @
It. sho, under legal advIce, IL unwilling to sfy
It up, and this IL tho embarrassing fcatur0 u
bis ga.tius st4.Ete.a agatu thero Tho report 70
| fers TO tho movement OIL tho past OF h1nneaPo
| rlnf pft1fj In nFf H4fKnNh