New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-04
EMBARRASsMENTS OF BUSINESS MEN.
rHE FAILURE OF HUMPHREY C0-wHY WILEY
w1CKEs 4 WING HAD TO SUSPEND.


wICKEs & WING HAD TO SUSPEND.
Few additional facts in regard to the failure OF
Humphrey * Co., dealers in leather c0ulu 10
learned yesterday. The members OF the nril' me
special partner, the assignee and tue lawyers an
refused to make any statement in regard 10 inc
matter Correll Humphrey and >. IL HumphIey'
two of the members of the firm, and Enos Wider;
TO whom the assignment was made were engaeeol
with counsel in making up statement OF affalIs
which will be submitted to meeting OF me credit
ors to be held IN a few days. The assignee VIII
make il his first business to get possession OF al me
property in this State and IN Pcnnsvlvanla III order
to keep il clear from attachment. Inc haolties
of the firm are SAID to be about %loOOOO, ana INC
assets will, 1t is thought pay about 20 per cent OF
tins amount though the affairs were in so unsettled
a condition yesterday that no definite statement
could be made. Most of the indebtedness is due 10
holders of the firms parer. This Il distributed
very generally among banks and private ndlVldu
ais good deal of it being held by country banks.
Platt IWoodford. of No. 26 Pinc-st., who negotat-
ed most OF the inns paper, SAID lndt tucF ma" no
trouble in getting it discounted at and per
cent, and they could not tell the cacse OF the ia-
urc They had negotiated over T3Oo,VOo
of the leather firms paper From anolnei
source it was learned that j. Is. COigale'
who was special partner to the extent OF 9ioU,uOu'
also held considerable amount OF the lifni papeI'
No charges were made against the OuNilles7 meg
rity of the finn. The failure was geneTalJ az
tIUuted to overriding, II was Sald inau IHe nm
was doing business OF $l,50O,000 yearly on a
comparatively small canital, aud that the greater
caution that tle banks have DISPLAYED recently IN
dScountng commercial paper precIptated IN lali--
IRE, which might otherw sc have bc-h dea. co. pu'
could not have been ayerted.
The creditors OF wiley Wickes q Wing, importers
Of lIuiiS No. 100 hcadc-Si., were SURPRISED Fa-
telday to learn that the firms asslenmClt was me
result of ,peculatOns on the part 0! MI Nckrs, ire
plFner who had charge of the finances Of the MN.
The statement is made that MT. W lckts useu pr
yate'y notes OF he firm. One oI IN 81 Al due i.t
Wednesday, and Mr.. Wickcs not taking it up IL
came to tine notice of the other paTtLcrs, when was
tie inst animation they mad OF what Mr. " IcNes
had done. Mr.. Jewctt, president uI the irving
National Bank. sad yesterday th8C as lar 3t ' To-
Whey had been able to le4m the amount OF the
notes OF Mir. Nickes was less tnan S3O,OOO. Nhcii
the discovery was MADE Nh WHEY at once utci"c"
no; 10 incur anO her ObhgaIon until lie knew no"
the firm stood. Two courses WeI" open 10 nm
either To make an assignment or dissolve me par :
nershp-and lie Geciatd 10 assign 1t l. beneEeu
that al the creditors viii b. pad m iui., ana INA
there will be 4 surplus of pr,h bly SlOOOOo. Tie
liabilities are between $500 900 and S4OO,OOO; the
assets are good, and the 5 Ock was taken a low
valuation. Dir. WIcAcs has secured M Whey as
In possible by making transfer 81 his rouse h
Brooklyn. 1t rs reported that Mr. Nlckes lost mo
money in Wall Street specuiatiODs.
Joseph Myers Il Son, manufacturers Of women 3
suits and oaks at NO. 25 Whtest tins city, and at
Nos. 2l9 Marketed and al SOuth-Si., Philadelphia
made an ,sIgnmeut yesterday TO Lew GO!osnltI
The business has been cs ablished twenty-five
years. hey purchased in this city, manufactured
IN Philadelphia, and sold their goods IN DO II elites
The liabilities are estimated at about SlJO,OOu, q
large part OF which is que IN New-York, principally
TO the wOO!len and cloth trades. At No. 20 White
81. yesterday, large number OF creditors called Tor
information. Mr. CoLen the selling agent, sald he
was surprised to hear of the assignment; he AT,
tended 10 tine sales hut not TO the pure naSes ana
could give no information to the extent OF the
failure OF the condition of the assets.