Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-26
BUSiN
MEMPHIS COTTON FACTORS FAIL.

MEMPHIS COTTON FACTORS FAIL.
MEMPHIS, Tenn, Nov. 2j.-TI1uM
z. Allen s Co.. cotton factors AMI COM
mission brokers of this city. made An
assignment this morning. The firm +,
one of the Oldest in the south and has
branch office in New York. The sreCieI
assignment made this morning was p-4-
cipitated BY the suspension OF II cnsrI
II. Allen & Co. in New York. The scas.
dule of assets AMI liabilities is beng pre-
pared. The announcement has causeIs
profound sensation. The firm vas con-
sidered Que OF the most substantial IN
the South. Harry Allen of the firm in a
brief interview with an Associatei Pres,
reporter said: 'Uur assets are LARGELY
in excess of our liabilities, and with ti,ss
the firm can pay dollar for dollar on ths
settlement OF all its Indebtedness aud
have large surplus left.
Conservative estimates OF the firms
liabilities rs made by one of its members
are $50, 900, with assets of 81 ,jIJ 900.
In their assignment each InliriluEI
member includes oil his real estate. n
b. TreZevaut is named as trustee This
assets of ths firm consists largely o.,
plantations in the Mississippi valley 10
the south of Memphis Offers OF assist
ance WIGS rendered the firm YESTERDAY by
u bank, but was declined. None OF tbs
moueyed institutions suffer by the sl.-
pension. as they are amply secured Tns
firm handled annually about 80 0Ju bLles
of cotton.
RECEIVER APPOINTED.
Special to the Gazette.
MCKINNEY, Ten, Nov. 2J.-It ia
learned late tn evening that at the suit
of one of the Mckinney BANKS, and Of
the b. and O. bank of Dallas against
the North Texas Till and elevator COM
pany, Judge Muse appointed j. W.
Waddell receiver and fixed his bond st
$50, 900.
NEW YORK BANK ASSIGNMENT.
NEW YORK, Nov. 25.-The firm o,
Richard II. Allen s. Co., bankers and
commission merchants on Broad street,
assigned to-day to Frank X. Walter.
Il. Il. Allen also made individual as
signment to the same person. No pref
erence. Liabilities estimated 81 600 600.
MUST GIVE UP THE KEYS.
CHICAGO, ILL.,, Nov. 25.-Iu response
to questions, Mr.. JohnsousOf the Pretti-
man bank, said there were in the bank
about $500, 200 IN bills receivable, $780,
900 in mortgage notes and other securi-
ties. aud SIC, 900 in checks md SO ,010
in stock of Prettiman's lumber COM
pany. lie said that the assets and lis
bilities were about Sl3S 200 each, and il
anything the assets were larger. john
son refused to turn over the keys of the
bank or reveal the combination OF the
bank lock. Counsel for creditors then
made argument for the Key, and Judge
Peudegast decided that it must De
given up.
CHATTEL MORTGAGES FILED.
AUSABLE, Mich, Nov. 1.-Two
chattel mortgages TO the amount OF
S622, 900 were fled with the city clerk
against the personal property OF j F.
Potts, of the salt and lumber company,
including the rolling stock OF A. :. aud
n. W. railroad, III favor OF serersi
banks in Ontario. The Josoo saving
bank, Oscoda and Mrs. d. Tisdale OF
Simcol, Ontario. This is reported IS
part of the liabilities, which amount to
81 500 600, for which mortgages
chattsl and real estate hays been tled
by the company inlfavor of creditors IN
different counties of the state.
ARDMOHE FAILURE.
Special to the Gazette.
GAINESVILLE, Ten, Nov. 25.-EloT
* Foster, dealers III general merchandise
at Ardmore, l. r.. yes.s.LGy ass Ene1 IL
Polk Anderson of the ArGmoce bank for
the benefit of creditors. Gapesvi!is
merchants are the largest creditors. The
extent of the failure is as yet uaGuoTa.