Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-09-29
HEAVY FAILURE
Ferdinand Mayer & Co, the Heaviest
Dealers in wooIsns in America.
Suspended.
! tabilitiea VariOusIy Estimated
at from sl,5OO,O0O 10 SCI
OoO,OOO-Other Firms Fall an
Special 70 CHICAGO Eyenipr Teleeram.

Cpociai " Shlcago Evening Telegram.
INV YoRK, September 25.-F May.
er \ Co., wooden merchants Of White
street, one Of the leading firms in the
trade. have failed, and made an assign
ment to Simon Danzig, of the firm Of
DanEig Bros, cloak manufacturers, Of
326 Broadway. Preferences were
given amounting to s9l9, 5l3 67. They
are nearly all for money loaned to the
firm or on notes aud Endorsements Of
the firm, aud accommodation paper
asSe by various persons for the firms
benefit, little being on open account
and for merchandise,
The firm was considered at the
head OF the Hebrew clothing trade Of
this country. Its credit was high, aud
its means were estimated at upward Of
81, 000, 900, both in and out Of the
business. The house was established
in 1857. Ferdinand Mayer started
the business, and his son Benjamin
has been a partner for many years.
The business was large, and well con,
Quoted, and was supposed to have been
profitable. +,
Mayer 4 Co. we're heavy buyers at
times, and have bought goods worth
500, 1000 at a time from a single house,
and they have goods paid for now
which are still in the commission
houses. Their paper sold at a low
rate, was considered gilt edged, and
was readily bought by the best banks
aud private bankers in the city. Ferd-
inAnd Mayer was a large investor in
real estate, and his operations we're on
a large scale. He owDs the big fats
known as the Newport, Interlaken,
Strathmore aud Adelphia, and also
Adelphi Hall, which are estimated to
be worth about Sl,250,OOO, The in.
come from Mayors property is said to
be $4,000 a month. He was widely
known and respected for the hberality
Of his charitable gifts.
An approximate statement Of the
firms liabilities places them at be-
tween 81, $50, 900 aud $1,000, 600 The
assets, it is said, are nominally larger.
being about 81, 900, They consist
OF real estate valued at 81 100000,
stock 100000 aud outstandiugs,
100000
Richard s. NewcOmb, the firms at
torney, said that the suspension was
due to the assignment Of S~iedenbach,
Schwab & Co.. the firm being involved
with them. Calls we're Immediately
made by financial institutions and pri,
vate persons upon the firm for loans,
as security for which Mayer & Co.
had deposited other firms paper as
collateral.
Samuel Levy, julius Levy and
Augustus Ii. Levy, comprising the
firm of Levy Bros, wholesale dealers
in clothing at No Az Broadway. have
made an assignment to Solomon II.
Kohn. giving preferences for about
5000, 1000. The firm was largely in
volved in the failure Of Il. Mayer g.
Co., being preferred for $3l,5S272,
but only represents a small part Of the
amount due from f. Mayer & Co.
They claimed a capital last fall Of
100000, and to have much more 10
real estate
The firms liabilities are about S..
100000 or 81 100000, and assets about
", 600. Among preferred credi,
tors are Bromerl 4 Co., SCI, 900; Fran
kel & Butler Denver COL, 49,, 900.
and Henry Hermann, Sternbach Il
Co $4,000
Charles W. L. Dare, carriage maker,
on CORTLAND street, has filed an as.
Segment for the benefit Of his credi.
tors. giving preferences amounting tC
1922 r..
DANDRUFF