The Republican journal., 1883-08-09

THF SHAW FAILURE. THE LATEST DEN ELOP-
AIfNTS.

y
lent sources, held over 100000 of the Shaw
paper, and only two had even that amount
This sum, to any of the Boston banks. is rs can
readily be seen, comparatively insignificant. \
thlrd bank had $4,000 of the paper and fourth
$4,000. Beyond this the sums were all small.
ranging from S1200 to S25.000, but the aggre-
gate glnrIudlng paper endorsed by theml, can
not De determined even approximately.
The action Of the creditors in making settle
mcnt.i awaited with considerable interest and
anxiety. as upon this alone depends very largely
The condition of the leather market for some
time to come. If, as some claim will be done,
the immense stock OF leather held by the Shaws
j. forced on to the market in order that the
creditors may realize As speedily as possible. the
natural effect will be to cause very much lower
prices and Il consequent serious injury to the
who'll trade If on the other hand, the credi-
tors. all IT whom are wealthy men and in
position 10 wait for the settlement of their
claims hold the stock with the purpose in view
~ getting the best possible prices for it, the eff
feet viii be to simulate the market and put it in
better and healthier condition than it has
been tor months past. lna>much As the latter
course Will best >uD>crNe the interests of the
creditors Themselves. it now seems probable
than il Will be adopted. The fact that the
>haW> have alWay> been noted for cutting under
TING regular trade on prices, caused their failure
tp hc received with pardonablt degree Of sat
i~taction among those who have been compelled
to submit - This mcaed for and unjust com
petition.
This statement i denied. ana it i, >lid that
th ~haw> bought and sold in business like
way. Another report concludes a follows:
Altogether. the creditors are hopeful that
settlement On a basis not far trcm 100 cents on
+h' dollar may finally be reached. But in any
"tt>e there VIII be delay ana loss. audit is feared
HAT MlHnl small failures may follow i'll Eastern
Maine. over twenty copies Of the assignment
ip " Nmal were drawn up. These We're deiiy-
Dr,3 toy special messenger. In no ease was one
NJ them entrusted 10 the mails. The orders
%., d. IL have them all recorded at the same
lIuur. 2.3n ~ m. Monday The assignment in
Itnub~c0l county was recorded in the registry
ar,,> at Bangor al 2.30 o'clock Monday after
uooh. Attachments 10 the amount Of about
-+G.uoo have also been recorded in Bangor.
some of Tine lawyers there holding that An
>IGlilnt iii in Massachusetts j. not valid in
Ni.in-
Boston. Aug. ,. In relation 10 the assign
nl'nt ~ +. shaw X Bros. some question has
.tH.L raised about The legality OF the instrument
lu Maine. but ID i believed by many lawyers
tH.,I ~ Ncn the question comes fairly before the
uuT> there whether such an assignment can
'' M itld against attachments by local credi-
to.>. Maine VIII fan INTO line with Ma>sachu-
tr~. NtW ork. New Jersey and Rhode Island
aud declare that such an assignment Is legal.
lAe principal trl ditor> in Maine. however have
81. ~ T. ~, MOS M w ; FL u loA' E''f l.
III q anon ana muster OF e. \. X. Posts at
J l>Ni t1uiN vHtldl lHih n foAtIOlt. WEI
l'tN. pi"r' ON August 2?th and 3oti. Ten posts
.t"t l"il'd lhr association. Winch VII be
NApWn a. "AUrlhern DIVISION q. \. Ii. and
tntimpmenl WEI be named - amp hiram
hHthli. =. IA honor u Inc ON Maine eterdn
A>>Gt"ul@ ION Whlch VIII hoLd reunion Ill poEef
~ lhr -'ih II august. tents VIII bt provided
i'T "'i organizations III attthdahcc thal Inc oe-
"i>Ion may NE more lorclbly revive The army
-N'"rAlI"l> OF Inc comrades
pn Wednesday evening. August 29th. Doutt