Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-07
FAILURES,
One of the Oldest Cotton Factories in
New Orleans Suspends.

One of the Oldest Cotton Factories in
New Orleans Suspends.
CHICAGO, December CHA special from
New Orleans says The cotton house of
V. & A. Meyer has suspended. The liabil-
tiles are $500 900, the assets IS 900, 900.
This is the third largest cotton house in
the country. The members of the firm
say they will pay dollar for dollar. The
financial panic, slowness of collections and
decline in the price of cotton are the
chief causes. The firm was interested in
many cotton and sugar plantations. 1t is
feared the wreck will involve several other
firms. Solomon Never, manager, is in
New York. The firm members are part
proprietors of the Port Gibson Cotton Mills,
the Natchez Cotton Mills and Rsndelman
Plaids and Stripes Manufacturing Company
of North Carolina. Adolph Meyer was
recently elected to Congress. Victor Meyer
is Vice-President of the Union National
Bank.
New ORLEANS, December 6th.-The sus-
pended firm of V. & A. Meyer is one of
the oldest cotton factories in this city, and
has done a very large business for years
and as Meyer, Wies & Co. The establish.
| ment enjoyed high reputation and had a
large trade in the neighboring States in
cotton. The firm also controlled several
fine sugar estates. Among their assets are
$4,000 bales of cotton. The firm has an
Office in New York. and are agents here
for the Natchez and Port Gibson, Miss,
Cotton Mills. and for another mill in North
Carolina. Victor Meyer is Vice.P President
of the Union National Bank, and Adolph
Meyer. another partner, the Commander
of the First Brigade of the State National
Guard and Congressman-elect from the
First Louisiana District.
RUMoRs ABOUT LARGE GROCERY FIRM.
New YORK, December Chit was cur
rent in Wall street and commercial circles
that the extensive wholesale grocery house
of Thurber, Whyland & Co. was financially
embarrassed. Regarding these reports F.
B. Thurber said: I'VE are not in trouble
in any way. We have met all our obliga-
tons promptly and have larger cash bal
ance in bank at the present time than usual.
We have, however, large stocks of goods
and large outstanding accounts, and have
issued circular to the trade increasing the
usual discounts for cash, which are given
on groceries to about the same scale as
in the dry goods trade. This is nearly
double the usual grocery discount, and our
offer has occasioned some remark in the
trade. Our present term of partnership ex-
pires by limitation on February list, and
we desire to have more of our assets in
money and less in accounts"
SOAP MANUFACTURERS EMBARRASSED.
New YORK, December Chit is de-
veloped that Charles S. Higgins d Co., ex-
tensive soap manufacturers of Brooklyn,
have been financially embarrassed for some
time because of the tightness of the money
market; that for the past week they have
been unable to meet their obligations, and
as way out of the difficulty the firm has
been dissolved and new stock company,
to be known as Charles S. Higgins & Co.,
organized, in which several of the principal
creditors are members. The facts come to
light through investigations into rumors,
which proved groundless, that the great
grocery firm of Thurber, Whyland & Co.
had failed. n. K. Thurber, special part
ner in the firm, was a heavy indorser of
Higgins paper, and this, doubtless, led to
the rumor.
DRY GOODS MERCHANT ASSIGNS.
NEW YORK, December 6.h.-Edward A.
Ammidown, dry goods merchant IS and 60
Worth street, made a personal assignment
this morning. Ammidown said the assign
ment was made for the purpose of protect
ing the firms creditors and his personal
creditors from any annoyance likely to re-
suit from his connection with the Ritten-
house Manufacturing Company of Passaic.