The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1886-08-21
a NATIVE CECIL COUNTAIN FAILS.

1. Parker Veazey, Ex-Postmaster of Balti-
more, Fails Owing to Bad Speculations.
A deed of assignment was received for
record in the Superior Court of Bal
timore on Monday last from Thomas
S. Goddess, Charles w. Ga1dess and
Nirginius Gaddess, trading under the
name of Gad1e>s Brothers, marble work
ers Nos. 116 to 120 South Charles street,
warerooms No. p North Charles street,
to Samuel Snowden, trustee, for the
benefit of their creditors. The bond will
be filed by the trustee when he can as
certain the amount of the assets. The
deed makes no prefere ces. MIR. Snow
den stated that the firm as regards their
own business was solvent The firm was,
however, compelled to make the assign
ment an account OF accommodation paper
of theirs amounting to SIS, 900 which was
given for the use of |. Parker Veazey.
The firm, in addition, have liabilities
amounting to $2S, 600 making with the
SIS, 900 a total of $l06, 600 of liabilities.
The assets are approximately estimated
at $50 900. TIE assignors are related to
Mr.. Neasey in their family connections.
The fact that Mr.. Veasey was embarrass-
ed had been known in financial circles
for some days, and it was understood
that efforts at an arrangement were 60
ing on, which the assignors hoped would
be reached without the necessity of an
assignment. The banks are the creditors
for nearly the whole $4,000. On Satur-
day meeting of the creditors was held
at the Bank of Baltimore, at which an
assignment was recommended as the best
means of coming to sett cement. The
creditors recommended MIR. Christian
Devries, president of the Bank of Balti-
more, and MIR. VIM. j. Dickey, president
of the Manufacturers Bank, as the as
slguees. A committee presented the re
commentator to the several parties and
it was favorably Considered as was sub
sequently reported, and all assignment
from Mr.. Veazey and the Messrs. Cad
dess to the two bank presidents as assig-
nees was thought probable. The firm,
however, through Mr. Snowden, their le-
an arrangement. 1t was stated that sew.
eral of the creditors were willing TO enter
into negotiation for a settlement with
out an assignment, while others were
not, and the opinion was general among
them that the assignment would be made
but it was not expected by most of them
to be made yesterday. Because of the
lateness of the hour in the afternoon
when the assignment was left at the
court for record very few of the bank
people knew of it. Both Messrs. Devries
and Dickey had gone to the country.
Mr. Veazey, who was at his residence.
No. 1872 Cathedral street, expressed his
surprise when Informed that the assign
ment had been made. He said that Cad
dess Bros had on Saturday suggested
that they wished to engage counsel,
which he thought was quite desirable,
and he had not ascertained their further
action. He said his liabilities are $4,000, |
which in is accommodation paper of the |
Ne ssrs. Gaddess held by the banks, ex-
cept some $40, 600 in the hands of indIvi-
duals. His business troubles are the re-
suit of unfortunate real estate and stock
investments, and he has been carrying
the burden for years. Like other men
VINO have been similarly circumstanced,
he tried to pull through, but only to be
further involved, until he has broken
down under the load. He indicate that