New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-18
FAILURE IN THE DRY-GOODS DISTRICT.
cARHART, WEXFORD & co sUSPEND-PEAkCE
HALL, HATS, EMBARRASSED.


There was considerable excitement and many ex-
CARNATIONS of surprise throughout the dry-goods
district yesterday when score OF messenger boys
carving sealed envelopes containing messages from
X. G. Dun 4 Co. to tie effect that Carhart, Whit
ford a. Co., manufGc tuTeTs OF clotElng, No. ~
Broadway had suspended payment. The hrln
important firms engaged in the whole
safe clothing business in this city. When, IN
June, 1888 it succeeded to the business previously
carried on by Thomas F. Carhart n 70. and
SbafcT, WhitfOrd x Co, its members were Thomas
f. Carhart, William II. WhitfoTd, Albert I. Hamll-
ton, John b. Van Wagenen and Henry Shater.
The latter died in the following December, and the
surviving partners continued the business
without changing the firm name Prom april z,
1867, TO August 3. 1875 the late George Opdyke
was special partner in the firm for $lOO,OOO ana
his son-in-law, Edward C. Strobell, was genera
partner for the same period. During the winter OF
1sG7-6s runors that the firm was embarrassed were
actively circulated and the partners acknowledged
that inability to rapidly collect several nun
bred thousand dollars of outs anding aG-
ers in the Southern and Western states
had somewhat hampered them; About
1 nnde the sy Rsy of 'fBSidw the CoHcr and
this proved Of considerable benefit to them Ed
mund H. Carhart was admitted to tLs firm IN
August, 1877, and in the fall of 1852 Theodore F;
Carhart died Then new firm was formed
with all the surviving partners as ss GPbeT3tl
John b. Van Wagenen, and Edmund Il.
Carhart as trustees OF the estate of Thomas +.
Carhart special Pal tners in the sum $500, 600 to
that the general partners also furnished S3OO,0O
capital. Mr. Hamilton died GU April 80 last. The
firm manufactured mems boys and chill,
dreas clothing, and wOmen's cloaks and
suits, and did a business of over $1,000
900 year. few weeks ago
it became known that they were not paying their
bills as they came due and that affected their
credit. Mr.. IVAN Wagenen said yesterday that ne
could not tell the amount of their assets and labl-
tiles but the figures sbewn in the trade indicate
that the firm has assets of the nominal value OF
SO, O0O 900 with which to pay liabilities OF
$1,200,000. 80
Pearce & Hall, manufacturers of hats, with
factory in BROOKLYN and an office at No ~ Oreene-
st., this city. made an assignment to Hosea o..
Pearce yesterday. The assignee, who is a pre-,
feTed creditor for $29,000 IS the father OF
Henry o. Pearce, who with Charles and
William l. Hall composed the firm. Other pre-
ferred creditors are Belle |. Hail. 500, zoos Thomas
Sterling S5 5000; Charles +. Brown, W., 500 8S !;
Julia y. Baird 81 500 Leroy ). Smith; Sl,316 3S;
q total of SOL O6. The firm was formed on
November l. 1873, by Henry o. Pearce and Charles
Hall to succeed firm of the same name, which was
composed of Hosea .. PeaIce aud Charles Hall. On
November l. 1879, William j. Hall was admitted
TO membership. Their liabilities are said to be
about 100000.
Tie stockholders and creditors of Brown g.
Brothers, No. 80 Chambers-st, manufacture s OF
sheet brass will arrange to-day fOr the pawn nj
of the firms indebtedness. Mr.. Van Duzer said
yesterday that he had no doubt that everything
would be arranged sat, sfIctOnly and the business
continued. Ii was learned from other sources that
the embarrassment was NANNY due TO the STOCK
losses of w. II. Brown, who was tie banker and
president of the company until a few weeks ago.
when he resigned III consequence OF these los! g
end his Indebtedness to the company,