New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-06-22
BUSINESS TROUBLES.

The Union and Bay State Manufacturing
Company straw goods, OF Nos 54s and SOL broadway.
has suspended. The nows o. the embarrassment wniea
did not reach the trade uUt yesterday afternoon CAUSED
much ACCOMPLISHMENTS a. it the hrst ntmaton ofany
trouble Creditors could scarcely realize inst the co
pany had suspended. Tue companys credit III THIS mar
ket was h as Il paid cash for most OF ts purchases
The liabilities of the company currently reported
at from, S75OOcO TO 81 100000, but these estimates
were regarded as exaggerated aud the best INFORMED
persous DO not think the actual liabilities VIII exceed
100000 At the Office OF the company ~
was stated by the manager IN charge tnss
statement had been made up few days ago, but INC
officers had taken 1t to Massachusetts, where fourniths
Of the liabilities are he'd. The greater part oil the
udebte ipess is on notes. meeting OF the presidents
OF the Boston banks who hold the companys paper was
held on Tuesday and committee was appointed TO look
into the matter and report week hence The nominai
assets he said exceeded the liability they coull %
realized upon. The suspension was Cue 10 variety Oh
causes IL had been poor year for the straw goods
busess The company had good trade, but there was
no money In It..
large creditor said that the failure was complete
surprise there had not been the slightest mtnSuoh
of It, He thought the company owed between SogOVo
and $4,000 to the straw @ ~ niS mg:nv had
intended 70 close up about July j, as there was ~
money in the business for it. -, =,
the company was incorporated under the laws OF
Massachusetts September IL, 1876, wan c1p a "a
ness OF Oliver Carpenter * Co. and A Alden q 70 10
had two factOries-One at FOxOOro aud the Otner AZ
Middleboro Mass the latter being leased 10 A. b. Aue.
q 90 about a year ago. W. 4. Cook was president anu
A T. Carpener treasurer. Oliver Carpenter dleu IA
November, 1880 About eighteen mouths ago tne cap
tai stock OF company was reduced from SoOO,VVOo
$500 600 il s said that the apparent shIlhhhge N'
dYe 10 the decreased valuation put upon the assets o
Inventory being at the lowest cash Valuation u-
stead OF az their nominal value Us had been the custom
ure yiousiy The last annual report OF the cObpany
showed debts exclusive or capital stock, 4oU, 1oti to
nominal assets SAB s33 consisting OF Ieai ess5.
SlS4 1856; machinery, S9o, material @-yl,Sffo,
cash and debts, $l40,4s2 patents, S2o,oOV misce'"
neOus. 81, SS9 $500 A.. NJ n
Cook q Co manufacturers OF straw goods, have ianos
me cause il said been poor spring aue Ihey
owe the Boston banks largely, aud tue liaDtle ae
timated at 100000 William T. Cook "a the presIuos'
of the Union and Bay State Manufacturing Compauy'
ana mis- rm manufactured the goods for the latter eOi
paDy. 81,
INDIANA, Penn, June 21.-Judgments to inc
amount OF 81 900 were entered to-day against E lie
WILSON, cashier OF the Indiana County Deposit BanS'
Wilson is heavily involved by the failure OF the Manon
ing Armstrong County, Furnace Company, W n9o
liabilities $4,000 with assets claimed al S|o,VVo'
The banks loss Is light.
BosToS June 21.-Rodney j. Hardy Il Co., whoesas
dealers in grain and WOOL have failed The business nas
been established since 1878. Mr. Rodney owned eo~
siderable real estate.
ST. VINCENT, Minn June 2l.-Wiliam D keefe q w.
general traders have made and assignment with napr
ties OF $40 900 ana assets OF $4,000