St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-11-25
BUSINESS COLLAPSES.
New York and Chicago Firms in
TroubIe.-S0me BAD Failures.

NEW YORK, Nov. 24.-D. Kellogg Baker
and Charles o. Clark, composing the firm of
Baker 81 Clark, of 337 Greenwich street, in
this city, has made an assignment for the
benefit of their creditors to Clarence F.
Birdseye with preferences amounting to
SIs5. SCI. S5. Among the preferred creditors
are the Chemical National bank, S42 7l3; Im-
porters and Traders National bank, $780,
7g5 "a: Talmadge Baker, 81. EGO. Rebecca
Dunlap ST., 300; Horace X. Thurber, $4,000;
W. H. Robson & Co., $500; other prefer
euces vary from $1,000 TO $4,000. The firm
were large wholesale grocerS. The firm has
been in existence over thirty-fve years, and
has always had a large business. Mr.. Baker,
one of the firm, said that If time was
granted the firm could pay one hundred
cents on the dollar. He said his Liabilities
would not exceed S1SS,000. while the assets
would reach $3.50, 600. 1t is said that the irm
became embarrassed through the failure OF
W J. Austin g. Co., whose notes they had i'll
dorsed, Both Messrs. Austin and Clarke have
Endorsed customers notes to a large amount.
Another cause of the failure was the de-
mands of the people who hold the hrm S
paper Most of the creditors are inclined to
give the firm time. Near the close of busi-
ness at the stock exchange to day ID. A. Ball.
the New York member Of the Boston firm of
F. r. Morse j. Co., sent in notice ann0unc-
ing the failure of his firm. Mr.. Ball could
NOT he found in his Office. but his representa-.
tives said the failure was caused by the dis
coyery of irregularities by the senior MEM
her in Boston. They could give no further
details Mr.. Ball has little or no liabilities
outstanding on the stock exchange.
MILWAUKEE, Nov. 24.-Thc firm of ]. P.
Phillips & Co., dealers in agricultural imple-
ments made a voluntary assignment for the
benefit of creditors to-day. The liabilities of
! the firm are unknown; nominal value OF as
| sets $4,000.
| CHICAGO. Nov 24.-William Hayden, the
| furniture and desk manufacturer at 1913
! Wabash avenue, made an assignment this
| morning. No schedule was filed, and the
amount of the liabilities and assets are un-
| known. The firm has done an extensive
| business. 1t is learned that A. s. Gage has
| secretly made a settlement with his New
| York creditors at As cents on the dollar, with
| out the knowledge and outside the Jurisd1c-
| ton of the court. CHIEF among these creditors
| is the firm of Clafiin Il who were creditors
to the amount of $4,000 Through the firm
of Kraus, Mayer s. Backett, Mr.. Gage has
| effected a settlement with the largest or his
| Chicago creditors, including the First National
| bank, whose claim amounts to S96OOO, and
| some smaller creditors, such as Weuesteln,
| Mayer s. Co. These latter firms have been
| settled with at a much higher figure than the
| New York creditors, but just how much cam
| not be ascertained. 1t is believed however,
| that the settlement effected may possibly eX'
| coed so cents on the dollar.
| MONTREAL, Nov. 24.-Richard S. Mardon
| boot and shoe manufacturer, has made an
ssslg ment; direct liabilities, SS3, 00U; indf
| rect $50, 600; assets, S63.dO0