Savannah morning news. [volume] (Savannah) 1868-1887, 1884-01-13
CRASHES ON THE STREET.
THREE GRAIN BROKERS FAN.
IN NEW YORK AND CHICAGO.

Accurate Statements of the Assets and
Liabilities as Yet ImpOssibIe-The
Market Greatly Depressed by the An
nOuncements-A Builder Fails for Over
$4,000.
NEW YORK, Jan. 12.-J. N. Fuller Il
Co., grain brokers, and Z. W. Coleman s
Co. were posted on the Produce Exchange
this morning as unable to meet their con-
tracts. The produce markets are weak.
BOTH FAILURES DISASTROUS.
NEW YORK, Jan. -. 9P. M.-The fail
ure Of j. Nj. Fuller Il Co., is bad one.
The firm never recovered from their
trouble about two months ago.
The failure of G. w. Coleman s. Co. is
also said to be quite disastrous. 1t was
brought about mainly by their Western
friends failing to respond on margins
when called for. The firm consists of Z.
w. Coleman, Consider Parish, and A. w.
Clark. Mr.. Coleman has been in business
for over forty years. The firm was FORM
eTly Clark 4 Coleman. but Mr.. Clark re-
tired about twenty-five years ago.
Messrs. Parish and Clark, both clerks of
Coleman, were subsequently taken into
the firm.
THE LIABILITIES.
NEW YORK. Jan. II, IL p. M.-The liza
OAlibiCc vi NOlCAidit Npsg uOUI anu 8Idlu
commission merchants at No. Water
street, are not known. The liabilities of
James NJ. Fuller g. Co. are said not 70 ex-
ces 100000.
THE MARKET DEPRESSED BY THE NEWS.
NEW YORK, Jan. Il, 1880 p. M.-Much
excitement was caused on the Produce
Exchange and in its neighbOrhood this
morning by the announcement that the
firm of E. w. Coleman & Co., flour and
grain commission merchants, at No. s
Water street, were unable 20 meet their
obligations. In consequence Of this news
the market declined from cent and a
half TO two cents on the bushel on wheat,
and from three-quarters Of cent to a
cent bushel ON corn. Soon after it
was announced that j. l.. Fnller & Co.,
grain dealer 6, at Bridge and State streets,
had also suspended and made an assign
ment. The failure OF E. w. Coleman q
Co. caused great surprise. The firm had
been established more thirty years, and
had done an extensive business in -four
and grain. Its members are Edward w.
Coleman, Consider Parish and A. n.
Clark. The capital of the firm was irst
impaired by the heavy failure of Enos &
Co., millers, i'll Buffalo, several years ago.
Coleman d Co. lost largely by this fail
ure, and of late, it is said, they have
transacted too much speculative
quired from their customers. They have
been easy with the men with whom they
had dealings, and in some cases it is re-
ported have carried customers who failed
TO make their margins good. Being long
OF wheat and corn principally wheat,
they gradually got into such a position that
nothing nut Il decided turn OF the market
could relieve them from their embarrass-
ment, and such ii turn did not occur.
Coleman Il Co. have made the assignment
for the benefit o. their creditors. 1t is i'm
possible at present to estimate their liza
bilities, but they are heavy, and the assets
are chiefly of such character that they
are not available at present. Most of the
firms Indebtedness is due outside this
city. 1t Is supposed that the failure
of j. NJ. Fuller q Co. was pre-
consequent upon the suspension of Cole
man q Co. The firm had being doing IA
speculative business, ard was cong of the
ma ket. Ii is not supposed that its liza
bilities are extensive. The firm was en-
barrassed about three months ago, but
managed to side over the difficulty at
that time without a suspens ion. fhe
firm of E. w. Coleman 4 Co. was
supposed to have capital of 100000,
and Mr.. Coleman's Individual wealth was
estimated at $4,000. At their Office all
particulars were declined, except that
they had suspended and made an assign
ment. James N. Fuller is the only part
ner of the firm which bears his name,
Fred. T. Goldsmith, the company, having
withdrawn January l. 1888, The business
having been established in September,
1879. Mr.. Fuller year ago claimed
IA cash capital of $4,000. His father is a
wealthy brewer of Brooklyn, and ad-
Vanred him money occasionally. James
NJ. Fuller made an assignment to-day TO
George g. Martin, giving preference to
his father, james A. Fuller, for $4,000 for
money loaned. At the office it was
stated that the liabilities would proba-
bly, not exceed $4,000.
BUILDER ASSIGNS.
Schedules in assignment of William
& Ambrose NJ. Parsons. builders. of No.
1874 East Sixty-fonrth street, to John c.
Orr, were filed in court to-day. They
state his liabilities at $685., 900, the nomi-
nal assets at $6O6 900, and the actual as
sets at $4,000. The debts secured on
real estate amount TO S4S6,O0O, and the
unsecured debts to $l50,O00. Among the
principal creditors are the New York
Life Insurance Company, $685.. 900, and
the Union Dime Savings Bank. $50, 900.
TOO LONG OF WHEAT.
CHICAGO, Jan. 12.-The failure Of T. Fl.
johnson Il Co., grain commission mer-
chants, is announced. The firm Was long
on wheat and corn. The extent of the
failure is not given, but it is thought to be
small.
CLOSED ON AN ATTACHMENT.
New ORLEANS, Jan. 12.-The store of
F. Sell, merchant of Farmersville, was
closed by an attachment issued at the
instance of New Orleans and st. Louis
creditors. The assets are $4,000, and the
liabilities $4,000.
A NOTED KU 3sIAN's DEATH.