Savannah morning news. [volume] (Savannah) 1868-1887, 1884-09-23
FALLEN BUSINESS FIRMS.
CIOthter Stern, of Broom Street. Go
Under With $4,000 in Preferences.

| ClOthier Stern, of Broom Street. Goes
| Under With $4,000 in Preferences.
NEW YORK, Sept. 22.-Zacharia Stern
| to-day fled an assignment for the benefit
OF his creditors to Mcritz Fredenberg,
/ with preferences amounting to $23,6I6.
Mr.. Stern is a clothing dealer. His failure
is attributed to the late suspension of
Rindskopf Bros. & Co., the Broadway
| clothiers.
BIG WHISKY FIRM FAILS.
LOUISVILLE, Sept. 22.-An assignment
was placed on record to-day by the great
| whisky corporation of NewcOmb, Buch-
anan q Co., the largest house of the kind
IN the South and one Of the largest in the
/ Union. Other assignments for the benefit
| Of creditors We're filed by George c.
Buchanan and Andrew Buchanan, men,
| bers of the firm. The deeds of assign
ments are all very general in their terms.
merely setting forth that the company's
Liabilities are more than their assets, and
| that, finding themselves unable to meet
| just demands upon them, they convey all
/ their property, real and personal, tor the
oeneht OF their creditors. They except
such property as is exempt under the
| statutes.
! George w. Morris is made the assignee
OF the company and of George G. & An
drew Buchanan. Newcome, Buchanan g.
| Co. failed about two years ago, but sue
/ ceeded IN obtaining an extension from
| their creditors. Their liabilities were
then about $1,500,000, while their nominal
assets were $2,000,O00. Since then they
have paid off many of their old debts by
contracting new ones and reducing the
bulk of their assets.
NOT CONSIDERED DISASTROUS.
W. T. Ralph, Manager of the Mercan-
tile agency of r. G. Dun & Co., was
inclined to treat the whole affair lightly,
as being merely the elimination of their
failure of two years ago. "There is moth
ing sensational about it,' he said. ''They
obtained an extension upon debts then,
and finding themselves still unable to
meet them have turned the job over to an
assignee. There is no real assignment,
for there is nothing to assign" Dealers
| generally took the same view of the
matter. at has been a question
for two years" said one OF them, "whether
they could pay up. 1t has been decided
in the negative. This is all.''
"Hurt?' said another, ''why should
any one be hurt. This is an old tale.
Since their failure and the extension their
credit has been nominal only. No one
holds their paper except men who were
caught then and have not been able to get
| out" There are rumOrs that the Buchan-
ans have left town. The absence of the
| members of the firm from the city has
aroused suspicious that something is
wrong, but nothing is known to confirm
them.
NEW BRUNSWICK'S BROKEN BANK.
NEW BRUNSWICK, N. j., Sept. 22.-It is
stated that the losses of the National
Bank of New Jersey will amount to about
$25O,O00 Cashier Hips defalcations will
nrOhDblU vrvl,;I L,l
| ance represents the over drafts of the
President. Comptroller Cannon has au.
thOriZed the reOpening of the bank, which
event will occur on Wednesday or Thurs
day next. Lewis T. Howell has been
elected President and L. S. Campbell
Cashier.
WHOLESALE JEWELERS. FAIL.
CHICAGO, Sept. 22.-Confessions of
Judgment 10 the amount Of $4,000 were
filed TO-DAY against S. Friedman a. Co.,
wholesale jewelers., of this city. When a
deputy sheriff attempted to make a levy
on the stock of the firm G. Bachralt was
found in possession. He stated that
foreclosure had been made in his favor by
reason of chattGl mortgage for $4,000.
He also declared that the value of the
stock would not exceed $50, 900.
AN ONTARIO BANKER FAILS.
LONDON, ONT, Sept. 22.-Thomas Faw-
cett, banker of this city, who is also the
head of several agencies in Western On
tario, has had his checks refused by the
Bank of Montreal. His liabilities are
between SS0O,000 TO 81 ,O0C, 900.
A COLLAPSE IN OIL.
The failure of A. 5. Jones was announce
at the New York Mining and National
Petroleum Exchange this morning.
About 250,000 barrels of oil were closed
out for his account.
LACE MANUFACTORY FAILS.
LONDON, Sept. 22.-RObert Towle, pro-
prietOr OF a lace factory at Nottingham,
has failed. HIS liabilities are heavy.