New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-09-24
AY ASSIGNMENT BY MR. FOLLETT


TIE MANNER N WHICH HIS LOSSES WE'RE INcUEi'LD
NOT KNoWN-PARr OF HIS PaOuRrY Al
TACHED
Alone FoIlett the embarrassed note-5roker. YES
terday made an assignment 70 solomon h'uiord'
LAWYER at No 30 WIllsrn-st. There were no prefer
ences named in the deed Of ass gnment.
Mr. Folle.t was in consultation with his counsel
nearly all day. and his prolonged absence from his
office led To the circulation Of rumors that he lad
h,d from his creditors The announcement that be
had made an assignment silcucc1 ,hcse rumors. AZ
the same time, no Itoe curiosity was manifested IL
Wall street a. 70 the name, OF his creditors anu
the amoun-s of their losses. tn" banks winch hold
paper negotiated by him. appeared conhdegt that
their losses would bee small. They expressed their
Willingness TO help those merchants who might bee
hammered for "a time by their brokers failure. The
combinations III Mr Follctt's business are so great
however. that some OF the persons involved wiA
him NAV not be abb To- cXtrclte themselves from
their Ill ticutlcs On this accOun; some uucaslne,s
was felt IN Wall street 20 the extent OF the caias
trophe. but il was believed 10y bank officers thai
IN. worst had been made known Inc
omouut OF paper which Mr.. Foliett
used without accounting to ms cas-
TONER'S for the proceeds has been asccrtalacd pre- fty
clearly to b. ABOUT rjJU.OJp. ihe great "uiN o.
TINS paper is supposed to be good. ana al one pfhA
tour 40 cs were paid prOmptly-tuc cn y ONES Me-
-ot.aied by INN al this Danh, "hch mature" yes
icIIay. Ia icH weeks al lir latest ihc D-Hn0 VII
De- able to determine exactly the amount ~ lhtit
problble losses. ! he merchant, VINO Will lose ht
tue tallurr viii ice treated lcueuIy hl the banks.
and the loss distributed 50 widely that Do WA DE
lett seriously TO-, very lew. How Nr ! oiirlt sunk
u4Ifa million collars is not known absolutely.
large customer of bus i, said 10 have Eel inn MT"
C. speculation ~ c.IH Wl.4OH "l' H'
prove profitable. lac amount OF the los CURED
Is not known certainly, uut Do l' sara lhd' MI I-
lctts Customer was obliged to moi Ga-e a"o Oh MS
urapertr. ana tu@t sAoluy @ltcI"aIu Lac ana Two
ofurr members o. tne uru uauSltIiru lucI .dl c--
,.1,. to frlr wives ID ]. 100. impossible mat these
transfers NAV ue made thc up ct Of "a regal dispute.
II liza. been reported IA the last lew days 1ldt III.
louctt lived eAtray"ganty, bui d. was a-a'I geo
Yesterday 10y person some ia, .'-'''',.I i'''
affairs that IN, Lous hold rApch-t- "eI' Only
small part of the annual income from BIS
regular business A par OF ms loss were
made ID Guaranteeing Go banks conh-rl'lt' f'ft-
winch lie sold tIcIu j Was sad tI4l Wltnlu Jcu
or tVo hc had lost over 100000 il TINS "aJ Dt
Mr. F",,,i5 wa, Interested jointly with john $.
Iu.tle ln an rX,cuslvr nursery farm near bloom
llrfon. ILL.,. wulcu tuey ". Re obllgr 10 llhc I"uI
wear, ago 10 secure advances. lu'-t IoIrlr
nulserymcn wee Tdteo we'll ana We're supposed 10
have d. capital Oh about GJOJOJO 10 is said that
te farm mas been very rrOn,tDc in the .as year OF
two. An attachment WIS levied on ait. f""ctt'
INFER ~ I'D tine property. Oh uday, 90 Tie instance
d. one oil the of Henry a. hiChdIG~o son % part
urr lu tine urm oil Richardson. lutOu ~
Co stove manufacturers OF t-ls cliy. inc
amount OF the sued Tor Is not
stated. Ii IS derstood thai oiher Attachments
lre likely To uc put on the same prop, riA. lie
mouse NJ. 70 West Fl .y-tnrd-st, ia which MI
roL-ti lve, he bought about a year atO 4OI
800 900. LIS understood 10 have been bought ln
JON Parker, cashier of the Phoenix Bank, which
mods some OF Tie paper thdi '4I. oilo'l HIS po'H
handling sdld tuat hc an hot tnAiN 'H' ""H"
Wound lO,c much. II lad done business VITA MAJ
il the LAST ten year,. Uuyug commercial paper
and also lending Am money on CALI scored ~
noses. IL va, ain Alt lof UT. / az
KIN ia ,av to what cX.cut tue bank
m.tlt lose money thIougn FoIett Oh account