New-York tribune., 1882-09-27
ANOTHER r.u1URE Due TO nR. F0LLETE

JOHN S. FUTILE MAKES AN AssIGNNENT-Tns NAME
SAID TO BE on NOTES FOR NEARLY 81, 900 600.
John ). Tutte made an assignment to Samuel W.
jackson yestcr lay in consequence. IL was SAID of
the failure OF AlonzO Follett. the Wall Street rOte-
broker Mr. Tutt re irrd from active business about
fifteen years ago. after having made fortune IN
the leather trade as a partner OF the house cf
Van Wagenen & Tuttlc. Since that time he has
dealt largely i'm commercial paper, and being some
what intimately associated with Mr. Folrtt. he has
had q desk IL his office. His former partner, Nr.
Van Wagencn. has followed in some respects SINH
lar course. II has been reported since tO.lrttS
failure that the former partners have been IN the
habit of mdOrslnG each Othe g notes on which 70
raise money tor their operations. TO what eXte r
tins done has not vet been m2dc known, but
the amount of their paper outstanding Is believed
by many to be very large. The affairs OF the tWo
men have been so intimately connected with those
of Mr.. Follcit that conservative bankers have re-
fused for long time to accept the paper OF any one
OF the three.
L. f. Chitrenden the attorney for Mr. Tuttle,
said yesterday that Mr. Tutte had found that he
a large amount OF Mr.. Follet Is paper, which
he could not pay, and had accordingly made gene
raj assignment for the benefit Of his creditors.
This was the only course lrft for him to pursue to
prevent any one creditor from getting an adNantaee
over another. The assignment covered al ms
property. Mr. Chlttendcn Declined 10 stare Jhe
total amount of the paper to which Mr. lutile had
put his name. but in answer To the reporters IN
oulrv If II would exceed 800 00O replied that it
was much more than that sum- In ieW days, he
said the papers would all be prepared, ana thcu
ne would willingly give full particulars, as
there was nothing Whatever 10 conceal MI Iutle
himself dd not know who held this paper, but of
course he aware of the total amount. Ia re-
gard to the assets, MIR. Tuttle had stated to him
about ten daYS ago that he then considered himself
worth S35O,00O Mr. Chttenden did rot believe
that Ar. Iutle had any other liabilities, except IN
the FOllett matter
1t was currently reported yesterday that the
amount OF Follctt paper which MI Iuttle Lac
ndOiScd would reach nearly Sl,0UO,000. This
Is, however, regarded as contingent
liability, against which will stand wna-
ever Mr.. Folett's estate may realize.
Mr. Follet's assignee Is unable to give any estimate
OF his assets or liabilities He was engaged yester-
day III making careful examination Of the brokers'
books.
At the office of Richardson, BoyntOn x CO., the
stove dealers. whose notes have been protested
III consequence of Mr. Follcti's embarrassnents il
was laid thar tie firm entirely III the hands OF
the bank. aud whether 10 continued lis buSucS, or
not dependcd uDOn their action in the matter. Ii IS
understood that the regular business OF the irI1 has
been very profitable III the past and that its losses
have been due wholly to the SpeculauonS OF the
senior partner ! statement of the h.n- affair. Is
being prepared for the information Of Jhe creditors.