New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-08
THE FAILURE or MEEKER g. ca.

Little interest in the failure Of w. r. Meckcr n
Co was felt in Wall Street yesterday except by
those 10 whom the hrm was indebted. III was
rllmorcd that there might he one or two small
failures in consequence OF II, but none were re-
ported to the stock Exchange. The members of the
suspended firm spoke hopefully OF the prospects OF
a favorable settlement with their creditors. lhe
amount of their liabilities was not made pubic
and evidently was not khown accurately
by the firm its assignee. lie settlement that
Will he offered to the creditors depends entirely
upon the collection of sums due the firm from delin-
qucnt customers, but some OF the friends o the lrn
x pressed belief that 1t would pay at least % cents
William i. Dixon, the assignee of the suspended
firm, who was seen by TRIBUNE reporter sad
" can add nothing to the story published III HE
TRIBUNE. Ii IL very full and accurate 80 far as
know. II is Impossible for me TO form any idea OF
the Liabilities oil the firm or the condition of their
assets. Their accounts are not yet made up anu
until they are no figures can be gwen No member
OF the hrm mas Riv1n Inc any o,, e''i. .n,oe
clerks now at work on the accounts. i dom know
who are the principal creditors. The firm may have
had large lines of stocks by people who had changed
their relations to them sellers and so 1t Is hard TO
tell who are creditors and who are debtors. know
OF no explanation of the failure other than that the
market went against them. III 1t had gone up IN
stead of down tncy would have been all night. The
assignment made by the firm Is absolute. There
are preferred creditors MI Candy signed the
assignment with the Meekers. They ART gong 10
give up everything TO divide among all the cred
Itors as soon as the Liabilities asccrtaincd. The
settlement Will be made speedily as possible. The
firm are grateful for the sympathy they have
ceIvcd tIom members Of the Exchange and their
creditors in their present troubles. The regret at
the failure Is universal"
1T Is intlmated that to Mr.. Candy Is due the
suspension of the firm" suggested the reporter.
Il know no reason Tor IT, replied Mr.. Dixon
have had no intlrnaton from them that any MEM
Der of the firm or anybody Is responsible for the
failure. There Is no reason why MI Candy should
be held responsible. OF course don't know what
advice he may have gwen 10 them. he failure 1
think Is simply due 10 the market going against
them No meeting OF creditors has yet been calcd"
Sheppard CANDY was not disposed TO talk freely
regarding the hTms aliaIs lie said: prefer To
say nothing about tine matter. there is nothing
new, and III a lew days we will have a statement
ready regarding our position. Until then 1 wish
you would say nothing about the affair. 1t is luz
possible 10 tell how We stand. There some ST.
curItIes which, If handled carefully Will help us
out. What Is needed Is a lltle time, and anything
said now may embarrass a favorable settlement. III
we get mule iIme cont thihk the losses can be
heavy. l cannot say VINO our creditors
are; il would not be advisable to 40
so. There Is single one whose claim
| Is so large as 10 make his name worth mentioning
Nor do 1 want to say anything about our debtors;
II might interfere with our arrangements. Then
We have some large loans ont win several banks
but most OF them are amply secured. If We have
mite time and tnlngs quiet down. our collatcrals
Will he improved and me loans Will be fully pro-
tected There are pretty good cOllateTals BACK of
the loans but Of course, II they forced for sale
not 81 much Will be TcalL 10 otherwise. For that
reason don't want 10 prejudice anything by any
statements"
1t is said that the cause of the suspension was
the failure some large customers to protect their
| lines OF stocks Is that so I" asked the reporter
"Mell," MI Candy replied, no house .uspends
unless there is something oi that sort. There Is
some truth III the report SEVERAL OF our CUSTOMERS
Jailed 10 respond Win more margins but We cannot
say who they art would be InadvisaDle To 10 no.
Our house was a great bull house, as eyerybu ~
| knows. and the market went against us-thata ali
| there Is 10 II. There have been no dIssensIons
| among the firm, and no troubles between me and
them that helped tho failure"