New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-10
HFAVY DRY-GOODS FAILURE
WHITNEY & COMPANY ASSIGN.
LIABILITIES SAID TO BE 100000 WITH NOMINAL
ASSETS ABOUT THE sAME-No BIG

JABII1TIEs SAID TO BE 100000 WITH NOMINAL
ASSETS ABOUT THE sAME-No BIG
LOSS EXPECTED.
whitney & Co., dry goods commission meronan''
q. No. 10 worth.st, suspended payment yesterday
and made assignment without PrVi.'o'
David A. Body, banker at No. 81 broanwss. Inc
firm IS composed of james W. Whitney Joseph d.
whitney and James A. Knapp brads'reo' W. =.
the liabilities at 100000. of when Ta'o''Oo = -
be on single name paper and Soo'ooV "n ,,,
The assets are nomnally about S'oVooo' e- =.
of outstanding accounts, s2ooooo, cas-" %. coods
manufacturers for which the him minus e"''''
.,oo 600 s,oor and sundres about $1OOooo' shaies
T., ,d.rs rxnross Company, Wells Fargo fAPrcss
romnapv and Old Dominion o'camsliP OoiI'
about $4,000 Mr. Rich OF Ar'o"A' NJ ~ ~, .a,,
ford the firms attorneys said YESTERDAY 'i"' w
ure was caused by the house DONG too "i"," O"
e. III, c.n,tal having too high rates OF interest ior
80. ,bev had borrowed 10 make large advances a.
49,, MERCHANTS TO manufacturers and inability
- money 10 meet large payments which they had
-. about this time The firm had hlade ia'se
sonces on goods received, and did not have caP'di
poneb 10 handle ther large business Ihey eNpeo'ou
=, cot additional capital. but were unable 10 40 So
and after consultation with their friends on od'ur-
Any II was deemed best 10 mako an assignment.
inlay have made some money IN the last four onths
and their condition is NOR favorable now than 1t was
some time ago The liabilities Mr.. kich sah' wore
about $500 600 and assets nOminaly about inc SAME
The assets are substantial and he thought that the
percentage of loss would not be large the assignee
was a capable man 10 manac, the assets From other
sources II was learned that the hrm had to make pay
ments this month Of about 100000, for when they
vcrc unable 10 raise the money on account OF INC
tigbtness In the market. The liabilities, It Is sald'
ne nearly all due TO banks. -,
James W Whitney has been in the dry goods bust
ness about thirty years with various firms The
nr sent firm succeeded Whitney Mathews on January
/ 1886. claiming a capital of S2JOOOO They ana
A commission business in wooens and ribbons prhcl-
pally j. b. Whitney is son of the senior partner
TROUBLES OF OTHER BUSINESS MEN.
John T. Camp and Henry p. Leach. composing the
firm Of John T. Camp d. Co., manufacturers OF dress
trimmings at No, % and "a Iowsrlst., made an
assignment, yesterday 10 Samuel Bolton. They claimed
d capital Of about 100000. The liabilities are re-
ported TO be about $4,000.
samuel Duncan, dealer in clothing at No. l42 Full
on-st made an assignment yesterday 10 Frederick H.
smith. Mr.. Duncan, who Is seventy three years Oh
has been in business many years. Tn, Liabilities are
about $4,000: nominal assets. $4,000.
Gustave Fuchs and Joseph Kraus, composing the
firm of Fuchs d Kraus, cigar manufacturers at sew
enty-6rst-st and Avenue A. made an assignment
Yesterday 10 Michael OConne giving preferences for
$2s 4s6 the largest being 10 Henry NJ. Bendhcm for
S21 800. They claimed capital in business OF fl0,-
600 In the trade the liabilities are reported at up
ward of 100000.
The effects of the Consumers Coal Company at the
yards I'm East Forty third ST. and at One hundled-and
seventh-st. and Third consisting Of coal hoiscs
trucks. etc, were sold out by the Sheriff yesterday.