New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
COFFEE & RANDLE IN TROUBLE.


COFFEE & RANDLE IN TROUBLE.
COTE & Randle, Stockholders at No. . Newest
were compelled to announce yesterday that they
were unable TO meet their engagements. John I.
Emo. ex-president of the Second National Bank had
failed to make good deficiency of between $50
900 and 100000 in his margins, caused by the
shrinkage of values Mr. GOfe went to HIM Tues
day evening and asked him for the money, telling
him if il was not forthcoming the firm would have
10 suspend the next morning. MIR. EnO's answer
was that he was dead broke" and could not
respond. 1t was hoped that his father would adj
vance the amount but he has not done so thus far
and SO the frm stopped business yesterday morn
ing.
The firm consists of Charles c. COTE, John l..
Randle and Frederick 5. Stauwood. 1t was formed
in Nav. 1850. by Messrs COTE and Rande. soon
after starting they admitted Henry ". Leslie jr.,
Henry r. McIane and George S. Ferry as partners,
but these three men retired, and COTE ana Rande,
with Frederick 5. StanwOod, continued the busl-
ness under the same firm name All the partners
are young men. Mr. Cote was for five years with
H. z. Lockwood Il Co., and was favOrabiy known.
He is the Board memberOf the firm.
John {. Emo has done business with them since 1t
started. His transactions have been heavy Al me
time of the suspension the firm was carrying for
him many shares of Union Pacific. Oregon and
Transcontlnental, st. Paul common, Reading and
Delaware. LaCkawanna and Western, all OF when
were sold under the rule yesterday. The MEM
hers Of the firm declined to state what their capital
was but il is said to have been 100000. They de-
cared that they could give no estimate OF then ia
bIlIties or assets for several days. Ii MT Emo made
good his account they said, they would resume I'M
mediately, as the whole trouble was caused by hln
JOSEPH c. WILLIAMS EMBARRASSMENT.
Joseph c. Williams, of No SO BrOad-st., whose
suspension was announced at the Stock Exchange
early in the morning said:
lam not prepared now make any statement of my
liabilities or assets. My business is a small 0nc-ln0'uy
for members OK the Board-and the obligations that nave
been unable u hut small The depreciation IL
values squeezed too tight and was forced 10 an
uounce nv suspension But am hopeful thai II VIII be
only temporary. This present ShrlDKa-e could not c
fOreseen having apparently been AT Ded rock Or
some time.
MI Williams has had long experience on the
Street He entered the Office of Trevor x Colgate in
1855. Then he worked for Da vid Groesbeck. He
became a special partner in the firm Of George b.
Grinnell Il Company September l, 1859 That
firm was forced to suspend for sixty days during
the panic of 1878. An involuntary petition III
bankruptcy was filed against the firm and 1t was
dissolved January l. 1875. The late Horace +.
Clark one OF the sOns-ln-aw of Commodore ' an
derbilt was a partner with Mr: Williams IN that
firm. In January, 1878, Mr.. Williams ana william
V CarOlin formed the stOck-brOkeraQe firm OF j. {.
williams x Co. MIR Car0lin retired IN January
1851 aud Mr. Williams has since continued the bus-
ness alone IN his own name only