New-York tribune., 1883-03-14
FAILURES IN BUSINESS.
SUSPENSION OF A LARGE WHlSKEf HOUSE.
IVES. BEEoHER d CO. MAKE AN AssIGNMENr-LIA-
BIIrTIEs 100000.

SUSPENSION OF A LARGE WHISKEY HOUSE.
IVES, BEEOHER co. MAKE AN AssiGNMENr-LiA-
BILrTIEs 100000.
The failure of the weknown wine. whiskey ana
tea house OF Ives Beccher & Co., at NO. 9o ITO ht
ST. which was made known yesterday, caused
oood deal of comment in business
circles. The house was composed OF
Frederick f. Ives, John s. Beecher.
C. A. Tuttle and P. C. Burke. 1t has been in eH-
istence twenty-eight years, aad was con sdered in
business circles entirely sound and trustworthy.
member of the firm said that the liabilities
were about $i5O.OO0, and the assets. he
thought, would reach abolt the same
figure. general assignment was made
TO w. ]. Osborne of No. 90 Pine-st., who IS n
LAWYER and friend OF the firm. Preferences were
made in the assignment to Sazerac De Forge ct flls
of Angouleme. France; F. W. Cosens & Co.. oil
Jerez, Spain j. Guardian of La Rochelle, France ;
James Latimer and Alexander Fleming OF St.
Croix, Danish West Indies and the BANK OF
New-York the amount of whose claims are not
given, The Merchants National Bank Is preferred
to the amount of $25, ,OO0 and Platt q woodward
to the amount of $4,000.
The efrm's ndebtedneSsis is principally IN discounted
notes held by banks In this city and in the country
and by private persons. About 100000 of paper
made by the firm IL now held IN tnat Way. lho nin
paid cash for its goods and discounted Jus hotts 70
raise the money-a system of doing business whleh
Is generally followed In this CITY, The foreign cred
tors preferred houses that oonsigneo goous 20
Ives, Beecher & Co. on commission. Platt Wood
ward arc note brokers in Pine-st. On tne nIss OF
the month arrangements we're made with them py
Ives Beeoher g. Co. TO handle their paper and flatt
& Woodward took S4S, 900 of 1t, but had not sold
any Of it when the failure took place yesterday
A good deal of sympathy was manifested LOT ives.
Beecher & Co.. and George w. Lane ana many otner
prominent merchants called TO express condolence.
Mr. Beecher who has been II for some time evldently
felt his misfortune keeny He said: Our fauure mas
been caused by the depression In business ana tns
failure Of Congress 10 pass the bonded whiskey DILL
On 900 barrels of whIsEey In bond, we are
Obliged to pay $4,000 In tax or export u. Ihls
we must do at time when we have no sale LOT IL.
The failures Of Follett and Of Humphrey d 20.
and Others recently have made tho banks more
careful about taking commercial paper. lhey nave
been reducing their lines OF credit In that way,
which has also affected us. Wo saw thit III was
only n question of time at the way things are
going; 80 we resolved in the Interest OF our creu'
itors to make an assignment at once"
firm M Of P'eJ J. X. Athcrton & Co., dishllers,
of Louisville Ky in which he is said to have nearly
5000 600 invested. The paid mp capital OF the lat
ter firm is stated TO be $500 00O and its Indebted
ness on January l only $50. 900. Mr.. BcecheTa III
terest in the firm of Ives. BeeCher & Co. IL said to
was estimated to be worth $750000. There
was an uneasy feeling among Other merchhnts
in this line of business yesterday. Western banks
are said 20 have advanced $2J, 100000 on whskey,
and they are reported TO be calling in these loans