Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-06
ESPECIAL TELEGRAM TO THE D1sPATcH.1

ESPECIAL TELEGRAM TO THE DIsPATCH.1
New YORK, April 5.-Reports that have
been current tor a number of days in the
drygoods trade that John F. Plummer had
suffered severely at the hands of
his partner, W. S. Darling, and that
he himself was struck aghast at the
discovery of the true condition of
his firm after its failure on March 19, took a
more definite turn to-day. 1t was said that
Partner Darling, who was Mr.. Plummer's
confidential man, could not be found, and
that for that reason much that the accounts
of the firm revealed could not be explained
satisfactorily.
Mr.. Darling, it appears, has not been
near the firms place of business for week
or more. Mr.. Plummer says he has not
seen him or heard from him in two weeks,
though the failure is only II days old. All
last week inquiries were made there for him
by messengers from the assignee, Jeremiah
P. Murphy, and the word invariably re-
turned was .hat Mr.. Darling was not at
home.
THE LAST MESSAGE.
1t appears that on Saturday morning,
March 30, Mr.. Darling wrote to the as
signee that he would be at the store on Mon
day, he thought, and surely on Tuesday.
That seems to have been the last that was
heard of him. He was high-fyer and not
man to behave IN this way unless for very
important reasons.
Che firm of John F. Plummer & Co. was
made up of John f. Plummer, Albert T.
Plummer and William S. Darling. The
liabilities were put down at the time at a
million, $500, 900 being for borrowed money
and the rest due to manufacturers and for
trust money deposited with the firm
by relatives and friends. The nom
inal assets, made up of stock and
outstanding accounts, with valuable real
estate owned by Mr.. Plummer, were esti-
mated at s., 200, 900. On the Gay of the fail
ure mortgages on real estate from John F.
Plummer to various parties, aggregating
$95, 900, were received in the Registers
Office.
The failure was attributed at the time in
the trade to over advances, chiefly ON their
satinet account, and complications arising
from the old firm of Stovey & Darling, whose
business John F. Plummer took. The firm
of Pomery & Plummer became John F.
Plummer & Co. on January 1,
1885, at which time Darling be-
came a member, the firm of StoVey
& Darling going into liquidation, John f.
Plummer & Co. presumably making the
necessary advances. AT that time the firm
claimed a capital of $500, 900, and claim to
have done business OF So, 900, 900 in its first
years existence.
A HEALTHY STATEMENT.
On January 1, 1889, their statements
showed assets of $3.50, ,978, and liabilities of
1886, 1862. Where the money has gone has
been conundrum IN the trade ever since
the failure. One of the creditors said
that soon after the failure it looked
as if there was a shortage OF $780,
900, with nothing to account for
1t. The accountants had not yet reached
definite result as to this. Assignee Murphy
said that the account that Darling was
wanted for to explain was the satinet ac-
count, which was Darling's specially. He
would not say what the apparent shortage
was.
The Dryqoods Economist says: "While
accurate details are vet wanting, the fail
ure of John F. Plumme- & Co. seems likely
to develop some sensational features. Care
lessness and recklessness in the conduct of
the business are already evident, but
confidence in Mr.. Plummer's personal in
tegrity is still strong. In the general
uncertainty the subject most pointedly dis
cussed in the continued absence of Mr.. w.
S. Darling, the junior member of the firm,
who is badly wanted, and who at this
writing cannot be found, as an entirely in
dependent item of news, it may be stated
that the extradition treaty between the
United States and Canada went into effect
on Friday, April 4.