New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-22
COMMOnORE GARRLSONS ASSIGNMENT.

Melville C. Day. the private counsel for Commo-
dore Garrison said yesterday that he had given the
advice which induced the Commodore to make an
assignment, and that it had been concurrcd in by
all persons who were familiar with his affairs. Mr..
Day added:
The only for the assignment was the fact that tho
the Commodore aud he could not weather IT, His sccur
ties could not have been made available ana II ne hj9
attempted carry hi Obligations everything would
have been wrecked There truth I'm the statements
ior assistance Mr Vanderbilt and other capitalists II
Is also untrue that the Bank OF YORK had other thSn
the peisantcst relations with Commodor, Garrison let
say that the law suits against him had nothing to do
directly indirectly with his assignment, The fact OF
financial embarrassment OF the Commodore compelled Il
consideration ot his case with the view Of biz making an
assignment They dd not enter in the least INTO Tue
question.
With regard to the assets and Liabilities, Mr.. Day
said that that under proper management the cred
iors would be paid IN full. The assignee might be
able to sell some # the securities which, while IN
trims lily valuable. have no fixed mark Il value
He presumed that IN m with the ability and hnan-
cial connections Of John +. Terry, the assignee,
would be abe to make negotiations when would
result IN his Sc turlng something approx natng the
real yaluc of the securities pledged But II they
were sold without such negotiations as was OIteu
the ease with 'eivers of nso went estate the re-
suit might be unfortunate for the realization OF the
property.
p THE PIrTsBURG, CLEVELAND AND TOLEDO.
COMMODORE GARRGsON'S INTEREST IN THE ROAD
tBr TELEGRAPH To THE TdBUNEl
PTTsBURG, June 21.-William McCrcery,
who built the Pittsburg Cleveland and Toledo Railroad,
aud who is Largely interested In it, said to-day: 1T is
mistake suppose the notes OF road which Com
modore Garrison ndorser caused him to make an
assignment They had nothing to do with it, The as
SgRment viii have effect whatever on the road II Is
the connecting link in the line from Pittsourg 10
Chicago and the Northwest running successfully
and ia ono OF the most thoroughly Dult ara
equipped roads ever built west of the mountains
It's owners, having iu confidence, preferred nf 10 ou
the road and show its ability pay interest on us bonus
ar well as dividends 10 It's stockholders put III IdI
amount OF their own money and but for the panic Woua
have had no trouble 10 carry the balance ot It's ndeoed
ness.
commodore Garrison having refused few days ago to
pay his share Of the OF ne company that poron
was allowed TO go { protest"
Mr.. McCreery further stated that there - were
ak notes lndorsed Jointly by directors ~
et the first OF these notes that due When nc as
covered that Commodore Garrison cOud not meet MS
share OF the liability, Mr. Andrews declined 10 go mo II
further That Wednesday. Since then Other
paper Of the company, amounting IN all to about S4oO
OOO has been protested but Mr.. McCreery sald arrange
mens have been made TO take OF It. He dld not 20
into details concerning these bat t Is understood that a
assessment has been levied the Stockholders aud tha
the meeting at which this was ordered was
held In this city a few days ago, Mr. MoCreery was
asked whether there any ike1hOo thst the road
Piled prom pity that he did not consider move OF that
kind probable but added that II the road should Dc
turned 10 receiver Il could NOT be considered as
BeOus misfortune for tho that the interests OF
all concerned would be properly cared for.
EFFECTS On THE EQUITABLE GAS COMPANY.
BALTIMORE, June 21,-Ihe San this morning
says: The announcement that Commodore Cornelius