New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-02
BUSINESS DISASTERS LAST YEAR.


FEWER FAILURES THAN IN SIX YEARS.
THREE HUNDRED AND FORrY-toUR sUSPENSIoNs
IN THIS CITY IN 1880 - The LIABILITIES
S19291,5S2 AND THE ASSETS So LAG, 291-THE
FAILURES IN DIFFERENT BRANCHES OF BUSINESS
Three hundred and fOrty-iour failures were re-
ported in this city in 1880, in which the aggregate
liabilities were S19,291,5 S2. aud the assets were
valued at $8.148.291. While the gross liabilities
are IN round numbers $2.oOO.OOO greater than in
the preceding year, the number OF failures is % per
cent less and s the smallest since the panic of 1873
In 1870 there were AGO iaiureS, with liabilities
SIG, 1884 900 and assets So, 100 O00 in 1878 there
were 917 failures, with liabilities $64. 100000 and
assets S1s 600 600; In 1877, there were e47 TAIL
ures with liabilities $51,O0O,O00; IN 1875, there
ere sS7 failures with liabilities 500 0O0, 900; IN
1875 there were 951 failures, with liabilities
S49, OOO, 900; in 1874, there were 6l5 failures,
with liabilities $32. 100000. One reason for the
in crease IN the liabilities Tor the year 1880 over
1S79 is the large liabilities of several firms in the
coffee, cgar grocery and iron trades eight failures
in these trades having liabilities to the amount OF
$40 96I, ISL, or more than one-half OF the total
liabilities of the year. There four failures III
which the iabil tiles exceeded 81 100000 each:
four with liabilities bet ween 100000 and
ST. 900 OOO five 18th liabilities between $780, 900
and S5OOOOO; nine with liabilities between
$780, 900 and 5000 900 fifteen with liabilities be-
tween $50, 600 and 100000; and 3O7 Ill winch
the Ii abilities were less than 5000
Preferences IN assignments cause much disgust
among merchants. and agitation has started
law to protect the debtor, The recent
failures IN the drygoods and other trades outside of
forced upon the merchants here the necessity. OF
taking severe measures to prevent them roh being
have been made on the charge IF obtaining goods
on credit by means of alleged false and fraudulent
representations.
Among the prominent firms which were unable to
meet their obligations were: b. G. Arnold d Co.
Bowie Dash & Co. and Z. Rsley d. Co.., coffee,
Dodge, Potter g. Co., Even & Osborne. and j. ".
a asis @stsis George s@S Morrow Allen Co..
Sss Co. oeH linen goods Loeb Co., fancy EoSds
s. Gutmann & Sons, shirts; Moore jenkins q 90.
groeers MerwH, Hubert d Co. guns p9n ban
their creditors and resumed business Several banks
and insurance companies have closed III me course
amalgamated with more successful concerns
TIE coffee trade supplied most as regards tue
amount ct liabilities There were eient iaa taG 10
So 297 219 and the assets at SO. Co., ~ Iron and
metals come next with liabilities of "a 84s 1870 and
In point Of numbers manufactures lead the list
tweny-six failures being reported, the total ia
bilites of which were $3.50 80 and assets POI
Fourteen manufacturers Ut cigars failed. OWING
81 .O76.959. and having assets to the extent OF
1927, 207. Among the grocers there were eighteen
assets $172, 575. Liquor dealers to the number Of
eighteen failed the liabilities amounting TO S9S291
aud assets to for the year 1S7H 5herG were
bllities of $l75.1O6 and assets $so,5so.
Seven merchrnt iailors made assignments, taer iia-
bilites being $107 ,445 and assets $27,S61. In the
clothing trade there were eleven failures IN which
the liabilities amounted to $685. ana the assets
to G the Extent Of $43eSoe Liabilities. and assets
$164,Ss3. Twenty dealers IN fancy goods failed
$s5 .sIs. In the millinery and straw goods trade
there were eleven failures the total liabilities being
$3.50, 558. aud assets $8S,17O Ten inconsistencies
to the amount Of $143.2o. and assets $52,61J.
Among the dealers in mems furnishing goods there
sS. twSys sss ssssss and assets
Fifteen dealers boots and shoes failed to tue ex-
tent OF 1902 449; the assets being valued ut
of $40, 6s1. Among the butchers there were thur
teen failures with liabilities aggregatlng ~ 464
and assets, $4O22s. Eleven bankers and brokers
were unable to, meet their obligations. which
amounted to $949,956; their assets were 1922 COZ
Four cotton brokers suspended, with liabilities OF
$50 600 and assets Of $4,000 Among the drug
gists only two failures were ANNOUNCED the labili-
ties were 377 and assets $15.278. six carpenters
and builders failed; their debts amounted TO
$160 655 and theis assets ,S0S In the Hour ana
feed business there were seven failures, the maolid
ties amounting to $316.773, with assets 1922 O5e.
Eleven dealers In PROVISIONS tailed' u w, aa7 aep!s
the produce trade there eight failnres aDill'
ties, 800 4ss and assets $25 400. Three dealers IN
furniture were equally unfortunate; their liabilities
amounted to $31, PTS and their assets to W 10y.
Only one dealer in glassware and crockery falied'
In the woodenware business there were two fall
ures TO the extent Of Sl11. 1851 liabilities and as
sets $S8,611. Three dealers in lumber aud ma
terials failed owing $189,060, and having assets
TO the amount of s53 -Four dealers paints. oils
and varnish failed with liabilities of $41 Sp1, and as
sets s13 42s. In the eweIry trade there were only
assets $2O905. Four keepers OF hotels and
restaurants find that they were not able
TO keep them and failed with debts amounting to
$17 O2b and assets 81, 731: Ten dealers In hard
ware, guns, etc, fsiled nth liabilities Of $3.50 200,
and assets $383. 1905, In the tobacco trade there
we're nine failures TIE lissiltiss aggrsgatiIng
merchants suspended with liabilities amounting to
$23o 000 and assets reported at S11 600 -Four sta
TONERS and booksellers made assignments owing
S133 1894. and with aseeg Of S66,6se. Only one
plumber announced his failure. liabilities ~ 243,
and assets, B2,eS1. Cine pawnbroksr also failed
with liabilities ss S43A7. and assets of 81 Sol. One
lawyer also made IN assignment There were thirty
three failures Of miscellaneous kind in which the
liabilities amounted TO S1.217,oos, and assets