The sun. [volume] (New York [N.Y.]) 1833-1916, 1884-07-13
PRICE THREE CENTS.
AN OLD HOUSE GOES UNDER.
HALsrEAD. HAINEs q CO.. DnY 600D1
MBN SINCE 1904. "i

Lsebintiss Nearly Aiiiisa s.S Preferences
eAls.sos-Usabis e Sell tsssr fapsr-Mr.
Maisss Thiaks they will Fsy n Fsll.
Halsted, Haines 4 Co., The. Oldest dry
goods Arm In the CITY. announced their suepea.
sion yesterday. and made an assignment IN
LOWS May. Of the late banking firm 81 May b
King. Tho Arm mako this statements shout Ne
cause Of their suspension: % ,.aaI -
Owing unsatisfactory collections nd inaAity -
raise money through usual channsis hsvs go
sdsred II beet for the interest Of creditors 70 s
pend for the present
The members OF the firm aro william N. Hal.
sted. William A. Hsines. John X. Myers. and
J. Edward Bentley. Mr.. Richard T. Haines.
the grandfather Of Mr.. William A. Haines.
founded the firm In 1904. In 1858 the Astors
built for tho firm the great iron building on tho
south east corner Of White street and Broad-
way. which they have since occupied. Tho
most conservative in the trade. and always
prldeea i1seI1 on the rrGmptaSSssh WIN which
amounted to d, 6OO.O0O. II had q large oonnsc:
Hs SsnaE hsF00e and
The suspension, created much surprise in
tns sFs % nf sS S IL Ie
All goods houses are making: This we con:
q preferences for sale bushes. The credits ex.
tended by the firm were generally shorter than
The assignment. fled in the County Clerks
office yesterday. contains the following prefer.
ences:
asi:sd ' .ss Issasnss Tsyios s'ts Co. :. ssSss
siiolS: J.n. = JchnsSa. $3.50 Robert H.i..sd. VA
~
sm 10 sss
Is I s nn SpSa We nS;.s . ::ss
burt sie6os Georse B. Knct sreoc kef ST. 1: DrsxsL
ii! .n %S; q az am: .4 s$!:' r.
Tho four notes Of 10000 each held by the
two 70 tho order q ex-Mayor W. ": II: wiekha%
Bliss, President Of the Central National Bank.
could D and bad 'HsS ED @ ss.n
on Thursday. The trouble was with the sys-
TSss q H.
brokers' stopped taking it. and SO they had 10
paper which had been sold before the crash.
had to be taken up. They could not sci! moro
%sssi ne Sanss you'd not take it, and so the
=, j, tG9k pS.sessiop at 10 o'clock this morn
Ss he an aon be snew .S yo
here to see me- and have hardly had time TO
get hold OF the check book. On Monday shall
g to work with = stan Of clerks and straishten
-" II any one had told me this four days ago."
Mr.. Haines said. =" would not have believed
him. This is the FIRST timO in the history OF tho
firm that we have failed to meet our obliga-
lions. The suspension. however. il q tenn
porary matter. We expect to settle In full with
all our creditors. Idont think that there will
1t is Understood that tile liabilities Of the
nrm will not exceed sl.O00.0OO oven II that
figure Is reached. The inability to meet obi:
shrinkase in business and the firms inability
TO place Its paper A heavy shrinkage In tho
value OF dome site dry goods is given ~ another
cause. It is also said that the ilrm sought aid
to tho banks already the banks refused TO give
any assistance. Up to few days ago It was
supposed that the ilrm had 500. 900 or $500 600
above all its liabilities.
Israel Fl. Hamburger, dealer In cards and
fancy stationery at 332 Broadway. made an
assignment yesterday to George Tar.er giving
preferences for f3l1T. His liabilities are re-
ported 1t about $50. 900.
:, Eihs Brown. manufacturer Of combs at 500
Broadway and at Wrappingers Falls. has indie
| An assignment To- Samuel r. Brown. giving
preferences for SIG OOO =, -