New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-25
EMBARR4SSMENTS IN BUSINESS.
PRETTYMAN & co. IN CHICAGO ATTACKED ~
OBSERVATION-DISCLOSURES OF FAwCETT

PRETTYMAN & co. IN CHICAGO ATTAINED II
OBSERVATION-DISCLOSURES OF FAwCETT
SONS, PITTSBURG.
Chicago Iowa. Nov. "a SpeciaD-A savage attack
was made on w. II. Prettyman g. Co. In the County
Court this morning and many OF the most promlnent
business men Of Chicago joined IN denouhclns INC
hank failure as fraud The courtroom was hed WIN
angry depositors. They held consultation and drew
mn an emphatic protest. which Lawyer Storey presented
70 the court against the appointment of Charles S.
Johnson as assignee, the principal reason being that
Mr. Johnson had been the manager OF the deiuhct
hank They also asked for examination OF all the
owners. officers and employees OF the BANK ana lor
access to the books OF the bank. similar petition
signed by the stockholders of the North Division Lu
Der Company also presented. The StocKhoider'
had no faith in the officers OF the company.
What are the entire liabilities 2" inquired the Court
ave don't know exactly said Mr.. Schaffner " but
The denoss are in the neigborhood Of 100000 and the
liabilities of the three concerns will reach S1Oooooo'
1T seems hardly possible that such bank could get
so large an amount in the short time 1t has existed
said the Court.
"But it did, put in Mr.. Story, and solicited de-
posts for miles around and got them Now we wouid
like this assignee removed and another put in his place.
1t is manifest that Johnson is interested in the
hank and the lumber company well, he is not a fit
man for assignee"
The Court entered an order that W. II. Prcttyman
and Johnson be directed appear to answer the serous
charges made by the depoors and TO show reason why
another assignee should not be appointed This after
noon Johnson removed and tho Jennings Trust
Company appointed in his place.
Pittsburg Penn. Nov. 24.-Thomas Fawcett Sons,
one of the Oldest and largest bumnOus cOal firms in
this city, have failed. Judgments aggregating $780,,
600 were entered by the Central Bank this morning, and
all property Of the firm has been levied upon by the
sheriff to satisfy these claims The liabilities are esti-
mated at S4O0,O 900 with assets OF about 100000 No
statement has yet been made but is promised at
once The failure not expected, and 1t is claimed
was not the result Of the present financial conditions.
The firm has been carrying large amount of paper.
and for months it has been known that they were
about to give up the fight The senior member, Thomas
Fawcett Is president Of the Central Bank, but the
failure will have no effect upon that Institution, it
is amply protected. The failure is attributed to the
long continued depression Of the rival coal trade Judg
ments for 1895 900 have been entered against the firm
including those already mentioned.
Wilmington, Dell Nov. 24.-The failure OF Pierce a.
Resson of this city, brckmakers is announced with
assets Of 900 and liabilities to nearly that amount
on which judgments of $4,000 have been entered.
The creditors are almost all local. If not pushed the
firm hopes to pull through.
Bordentown, n. j., Nov. 24.-The real estate and
personal property in this city formerly owned and used
as shirt factory by Downes Finch was sold here this
afternoon by Receiver Miles NJ. OBricn, and was pur
chased by the Springfield worsted Mills. Of Chester,
Delaware County. Penn, for $4,000, subject 10 a
mortgage Of So, 900.