The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-06-22
WHY DID HE DO IT?
Speculation as to What Led Cor
nelius x. Garrison to
Assign.
as 1t Really Shortage Of Cash to Meet
His Creditors, or Fear Of Prob
able Adverse DeCisions7
The Commodore Said by His Friends to
be Acting From the Highest
of Motives.

NEW YORK, June 2l,-Mr. Garrison was
at his Office yesterday, but declined to
talk about his affairs, further than refer
inqulrers TO his deed Of assignment and
to Mr., Terry.
Mr.. Terry said that he could say very
little about the Commodore affairs, hav-
ing just taken possession. Friends who
profeSsed to know more about them than
himself had formed the opinion that, as
compared with the assets, the liabilities
were small. The amount, it is said, will
depend upon how much he will be called
upon to put up for his Endorsements, and
upon the result OF suits now pending
against him. The amount Of his notes
outstanding and the amount for which
he has nderSed are, il is said, as yet un-
known quantities, Mr.. Terry put Mr..
George j. Forrest, an old friend and as
sociate of Mr. Garrison, 10 charge of the
Commodore's office, and to-day the two
began an examination OF the affairs, with
the view OF preparing schedule. The
seCurieties OF the new OHIO Road, In
which the Commodore is interested, have
not been hypotheCated 1t is reported
that within very short time Mr.. Car
rison endcayored to borrow several hun
drcd thousand dollars cash from Mr.
Gould, Judge Hilton and w, II. Wander
bilt.
THE NEWS or HIS SUSPENSION
was a surprise to Wall street, aud while
it did not appear to affect any particular
stock, it was evidently an influence in the
market in that confidence received a
shock in the embarrassment Of so wealthy
q capitalist. So far as can be learned,
the Commodore has not had any interest
in the market for long time. He had
devoted what remained to him Of time to
his railroad schemes. Regarding the
claims of two stock houses that
appear in the list OF preferences, the
members Of the firm of 7. w. Pearsall &
Co. said Mr.. Garrison did not owe
them q dollar Some Of his securi-
ties had been left with them for the aC-
count OF another person. At the office OF
Eames & Moore it was said their claim
against the Commodore was contingent
one that could not amount to more than
$50, 900, and was not incurred on his own
behalf. The principal suits pending
against the Commodore are those Of
Peter Marie to recover the value of
several millions of Missouri Pacific Rail-
road stock, and the suit of contractor,
who built part of the Wheeling & Lake
Erie Rord, to recover something over
81 600, 900 of the securities OF the COM
pany, which he claims were TO
be given him in payment for
his work. 1t was intimated in wall
street that Mr.. Garrlsou's assignment
might not be disconnected with the pos
siblc results of those suits and the claims
that might be brought against him on oc-
count OF his Endorsements. Mr.. John 5.
Terry, the assignee, said to a correspond
eut that beyond the fact that there had
been an assignment, he was unable TO
give any information. at present. There
has been no schedule OF the assets or La
bilities, but Mr.. Garrison's friends say a
surplus of several millions will remain
alter all claims have been paid off, and |
have no reason to doubt this statement,
Mr.. Melville c. Day of No. 2
Wall street is son-in-law Of the Com
modore, and for long time has been
his confidential legal adviser. The as
signment was made because Of the Com
modore'S financial embarrassment. The
causes were the railroad notes which he
had Endorsed. He is a large holder OF
railroad securities, but so much of his
assets are tied up that they are not
marketable. Mr.. Day said further that
it was matter OF opinion as to the eff
feet of the assignment on the various
litigations to which the Commodore is
party. That it would have some effect
was true.