Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-08
BUSINESS TROUBLES.
Associated Firms Carried Down With
Humphrey & Co., New York City-Record
of the Day.
h. @. AYERS DEEALoArroy.
Special Telegram to the Globe. !


h. @. AYERS DEFALoArror
Especial Telegram to the Globe.1
CHICAGO, March Herbert G. Ayers
failure brings to the front two firms for
which ne acted as agent, in attempt to Sc
cure themselves from loss by his financial
collapse. The first of these, the Otis Iron
and Steel company, of Cleveland. Ohio
filed a bill in the United States circuit
court against Aver, the Chicago & Alton
Railroad company, the Chicago, Burling
ton q Quincy Railroad company, the Hi
nois Central Railway company, the Dss
Molnes Fort Dodge Railroad company.
fraser q Chalmers, J. T. Rysrson & Co.,
the United States Rolling Stock company.
Glennon Bse, the Chicago, Rock Island
q Pacific Railway company, Knowescheu
Bros, and many othsr customers of Ayers
sons to restrain them from paying over
money to II. G. Aver, or the Union Ma
tional bank. The facts, as set out by the
complaint, are that it employed II. G.
Aver, as agent, to sell its iron
and steel products. Ayers duties
consisted in soliciting orders, and send
ing them for fulflment to the company
when the sent their goods. Aver re-
eeived the bills subsequently, for collection
at to per cent. commission. Though
guaranteeing the sales he had no interest
in the property sold. Since Jan. 1, 1883.
Aver has RENTED to the company nothing,
and tho accounts for steel sold by him have
rnn up to $43,O95.7O for steel. Complain
ant cannot tell how much of the money
has been collected because Aver has not
furnished any account, bat it is certain
that some parts have been paid over to
him. Aver waited on Feb. Is last and
subsequently proceeded to transfer the
Otis iron and steel company's accounts, or
the notes securing them, to the Union
National bank. Complainant notified the
bank of its rights and con-
tends If any transfer took
place it is illegal and invalid,
so that the bank could acquire NO title.
There was a danger, however, that some of
the accounts would be paid into the bank.
To prevent this injunction of the court was
prayed. The second firm is the Standard
Steel company, of Lewiston, Pa, which
files an exactly similar bill against H. G.
Aver, the Chicago. Burlington & Quincy
railroad, the Chicago, Rock Island d Pacific
Railroad company, the Chicago i North
western Railway company, the Chicago,
Milwaukee & st. Paul Railroad company,
the Chicago d Eastern Illinois Railroad
company, the Evansville d Terre Haute
Railroad company, the st. Louis, Keokuk
Northwestern Railroad COM any and the
Union National bank. The amount of the
Standard Steel company's account is $14,-
447.33.
New YORK, March 7.-Tha failure of
Humphrey & Co., leather merchants of this
city, has affected several firms in which
they were interested. J. n. Humphrey
was partner in the firm of Schuffelin &,
Co., tanners, at Stokesdale, Pa. A iudg-
mont for $751; 800 has been entered against
Schufelin & Co., on which execution has
been placed IN the hands of the sheriff. j.
II. Humphrey bought out the interest of
Bailey Wright in the firm of Bailey,
Lowell & Co., and the latter which sue
ceeded in Noy. 1880 by Schuffelin
a partner with Mr.. Humphrey in Schuf
felin & Co., has had a Judgment
entered against him for $500, on which
execution has been issued. Mr.. Lowell is
in business as Lowell & Co., tanners, at
Tioga, Pa, and also of the firm of o. B.
Lowell & Co., tanners and general traders,
at Miles City, Pa. Judgment has been
entered against Lowell & Co. at Tioga for
S35,630, and against o. B. Lowell & Co. at
Miles City for 1910, on both OF which
execution has been issued.
Western Associated Press.
CINCINNATI, March IN. L. Epson, pro-
prietor of the Central Oil works, has as
signed to Chas. l.. Mitchell. Liabilities,
$4,000; assets, 100000.