Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1885-09-17
5t1iseellauep,ts &eading.
From the Rock Hill Herald, September lO.l
], NJ. IVY & co.

j. NJ. IVY & co.
The banking and cotton business hereto
fore conducted at this place under the frm
name and style of J. NJ. Ivy & Co. has been
closed for the present, and Mr.. F. w. Will
liams. of New York has been chosen oliqul-
date the affairs of the firm. There are many
wild and exaggerated rumors in circulation
concerning the reason for the suspension,
and that the public may be informed OF the
truth we have made careful inquiry OF those
who are fully informed of all the circum,,
stances connected with the suspension ana
have learned the following facts,
AS is we'll known to the readers of this
paper, Col. Ivy, who constitutes the firm OF
J. NJ. wv & Co., has been in bad health for
some months, and that of late, his condi-
ton has been so precarious as to preclude the
possibility of his giving any active attention
to his affairs or to personally y supervise, IN
any way, his large and varied interests, as
was his habit constantly and zealously when
in health. Acting on the advice OF MS
physician and with the hope and expecta-
tion of being restored to health and activi-
ty, so as to be prepared for the labors of the
approaching BUSINESS season, Mr. Ivy, IN
the month of May, went to Wisconsin
and there placed himself under treatment.
Finding after three months absence from
home that there was no improvement IN
his condition, Col. Ivy returned to Rock
Hill, hoping that the beneficial effects OF the
treatment which he had received would be
felt when he would again be in the quiet OF
his home. Instead of improving, upon ms
return he was Frustrated and grew much
weaker day by day. Realizing his precari-
Gus condition and feeling that he might
not soon be able to give his extended bus
mess affairs any attention whatever, MIR.
Ivy, two weeks ago, telegraphed Messrs.
Williams Black & Co., of New York, who
are his friends as well as principa! credl-
tors and business correspondents OF many
wears standing, to come to Rock Hill to
confer with him, he not being. able to 60 TO
New York. Black, of the firm, at once
came to Rock Hill and found that Mr.. Ivys
physician was of opinion that his only
hope of Improvement was in absolute rest
and abandonment of business, Whereupon
Mr.. Black returned to New York and the
firm of Williams, Black & Co. at once sent
their legal adviser, Col. John c. Haskell,
of Columbia, to hold an extended confer
ence with Mr.. Ivy and with him to decide
on the course best to be pursued. Col. Has
kell spent most of the last week here. He
consulted with Mr.. Ivy daily and they final
ly concluded, in view ofthe fact that Mr.. Ivy
was largely indebted and the assets to be
collected being large and varied, that
deed of assignment should be made, and
that the matter of settlement should be en-
trusted to some one of large experience ana
who would have care for Mr.. 1vy's inter
ests as we'll as that of other creditors. Mr..
Ivy thereupon selected as his assignee Mr..
Francis w. Williams, of the firm of Will
liams, Black & Co., of New York, and made
him a full assignment for the benefit of his
creditors, without preference. The aggre-
gate amount of liabilities is $237, ,l28. Mr..
1vy himself and those persons familiar with
his BUSINESS say that, while his assets have
not been appraised, they should, and certain
ly will largely exceed that sum. 1t is be-
lieved that no one to whom heis indebted,
either by account or deposit will lose dollar:
These are the facts of the assignment and
the attending circumstances as we have
gathered them from reliable sources The
true reason for this unexpected develop
ment in Mr.. Ivy's affairs (as much unex,
pected to him as the public must be found
in the protracted and prostrated condition
of his health. Could he have been restored
to health and activity, this great misfor-
tune would not have overtaken him, as is
universally believed by all who know of
his marvellous industry and remarkable
ability as a financier. Should he yet re-
cover, as his friends all hope he. will, we
have reliable authority for saying that he
will again start business on scale equal to
that which he has heretofore conducted.
The house of J. M. Ivy & Co. is one Of the
oldest in our town, dating from the time
when Rock Hill had no corporate existence.
Its suspension has shocked this whole Sec
tion and the closing of it's business, even
for short time, is disaster to the com
munity. We suppose it was more widely
and better known than amy house in upper
Carolina. The firm annually handled from
1000 to 10000 bales of cotton and did an
extensive banking business, perhaps greater
than any house of the kind in any Of the in
land towns of the State. Besides, this firm
has always been first in every movement
for the good Of the community, its public
spiritedness and liberality in every good
cause being proverbial in this section. Be-
yond question, J. NJ. Ivy & Co. have con-
tributed greatly toward the prosperity of
the community and the commercial import
ance of the town of Rock Hill, and the
withdrawal from business of such firm is
a matter of the deepest regret and greatest
concern to our whole people. The express
sions of sympathy and continued confidence
are general throughout this section, and the
hope is universal that Mr.. Ivy may soon be
restored to health and to his useful place in
the community. At this writing on We'd
nesday morning he is still lying in very
precarious condition, but he believes he is
better in some respects. He sleeps better
than he has in ten years and takes nOurish-
ment with relish. We do hope that he
is on the road to recovery and that he may
soon be among us again as an active and
healthy man. .. d..