New-York tribune., 1882-09-26
ALONZO FOLLETTS TROUBLES.
HIS FAILURE AFFECTING OTHERS.

HIS FAILURE Affecting OIHLitN.
RICHARDSON. BOYNTON & CO. SAID TO BE EMBAE-
RAsSED-IHE RUBBER COMB AND JENELhf COM
PANY ALSO IL DIFFICULTIES ,
Solomon iianf0rd, the assignee of Aionzo FOllett,
the embarrassed n0te-6roker, took formal posse
sion of Mr. Folletfs affairs on Saturday. lie began
Yesterday thorough investigation OF ME-
folletts accounts, but he found them 50
complicated that he was ultcrly unable 10 gus,
even approximately the amount OF NT. fol'tt >
assets or liabilities IL Is by no means certain when
a definite statement can bc made ready NJ,
in regard to the published statement thal Ken
arDsOu BOyntOn " O. have JAILED III consequence
of Nlr Foetts embarrassment, NJ ldchaIH1
son. lhe mead % TN the firm man, a3 ,,ons S' ta
Irotcst and that that extent, Therefore, the firm
had failed. In reply TO the inquiry whether me
firm had made an assignment. he sad .hal IL had
not. A person familiar WIN tho comPicd'oh9 VI
the two houses said &:
II think that tolett has been more slnned
against thaa SHINING. If undeTs and the sltuallon
correctly, IL Richardson who seducea ollct .
into grain speculation. Mr. Richardson started out
to teach the specuators IN com how To 90 hiilgS'
and one day the boys, III chicago dropped
the urce Is cents a bushci. That was a
lively tall Tor one day. but Richardson Said
that IL aid not hurt him .ccause ne had honghi corn
very low. / observed however, that shOfdA after
ward Boynton Withdrew iiom the hrm ana ihat
Richardson mOrtgaged the BroOklynfac' DRY presull,
ably to pay him Tor his III crest IA the business
have been told tat not long alter me -OlGti' &"
lie old firm Mir. Richardson and twJ OF the sons,
whom he took INTO business with him, transferred
their houses 10 then wives for nominal cOnldera-
ton D
II Is expected that Richardson, BoyntOn a Co.
VIII nave statement OF tneif Affairs ready 1O pres
entatiOn TO then creditors tO-morrow II was re,
ported yesterday tndt the paper tal inc HliH h'ut
out would amount 10 over T4OO,DOO OF when, II
was said x37 900 has already gone to plOscst. ii
is estimated thaJ 100000 Oi the paper WAS lor
their regular business @2OOOOO IS pidced 10 cover
losses sustained by one OF the partners IN
the August wheat deal In addition u the
recently made paper there are sald 10 De- noes gwen
to MI. BOynton last February IN part payment IOr
his interest III the business, when he IetiIcd from
tne firm. The business has been regarded as very
profitable netting 100000 year,
IL was announced yesterday mat the hubDeI
Comb ana Jcwclry Company, OF 80 Melcer-s', had
temporarily suspended pay ment' as result vl the
failure of Mr.. EOlletI, VINO nous Il
large amount OF the company > paper ior when lie
has lal ed TO turn over the proceeds MI foliett has
ling paper tOr the company I0I lJng lInc,
and II was frequently lett WItn nin IN DuIh 10 Dc
alspO,ed of wAenev,r there was u demand for H..
he amount III ms hands, which he has tallcd 20 &C
count iOr with the proceeds, Is placed al Tl3uOOO
Some OI ihls paper has already gone 10 pio'cst
pending the settlement OF Ill rOlctt dlldIo, anu
uI III the company knows how his affairs Viii
tuln out IIe company lac'oIy Is at niooin-
mgdale, " j. 1t Is stu kept running
kIchad Butler, president oil tne COMPANY, ,
said yesterday that MIR. Foiett owed
the company large amount OF money winch
they had expected 10 receive fOr thelr
business wants MI. FOlletts keeping back such a
large sum had takon them by surprise, ana lhey
cOuId not meet this emergency. winch vas lOlalI5
unexpected. lie hId sen Nj. Iolictl on NcuutS-
day OI last week, when the latter sad he would DC
able to ma kc matters all right but he dld not do
so. and Nj Butter had not been able To see him
since. Business had been kept rdumng
both at the store and factory, as
friends and creditors had come forward with
assurances of aIu ana sympathy and urged HIM TO
70 on. II was for the creditors interests Tor the
business 10 continue, as il was piOhtabic. Not a
dollar would bc diverted from the creditors. Inc
condition of the company would depend on how
Nh FOletts affairs turned out, and lac hoped ioI q
favorable report In regard 10 thc reportei naDi-
lies of the company-9lOO ,0OO-Sir. Butler said ne
could give no figures whatever at present II was
/ all gucsswOr Ork. An inventory claimed 10 have
been carefully made by The company showed assets,
5000, ,4J4 liabilities @3%5, ,5O4; surplus, %, 300.
About Lalf Of the amount gwen assets was saId
to consist OF machinery and the factory at Bloom.
g.is.ip