The evening world., 1891-05-13
"tae remaining partners can be empowered to
make an assi1nment."
EMEsT BY TUE PARTNERS.

STATEMENT BY TUE PARTNERS.
To Mr. Horwitz the partners said that their
oinlculues arose through their carrying about
$500 900 of the liabilities Of the old urm, whicn
ley as,umed when they resumed business
alter the uieaster Of 1889
It has been represented though that this In
debtedness had heen satisfied long since, and
the creditors Of the firm say that 1t allowed
this impression TO prevail
There were only the watchmen for the Dep
uty sher q to be found at the place Of business
on the corner OF Houston street and Broadway
this morning, bu, there was much talk in the
neignborhood concerning tne failure, and 1t
was the general impression that the aggregate
losses TO commission MERCHANTS and others
would be very great.
No failures OF New York houses were antici-
pated as result. because the nrm's favors
were said to be liberally distributed IN Worth,
Church, Greene and Houston Nreets IN COM
paratively small amounts.
Mr. Horwtz said from what he Mad learned
from an examination OF the nrm's condition he
believes that the disasters, II any. which will
follow on this big failure will result to out-of-
town small dealers, whose accommodation
notes are held as collateral for most OF the
lUhub WulCu tH' tohnpbVh VI III bVNuioN-
'.If some Of the Q concerns should be called
on to take up all their paper at once, said Mr.
Horwitz to-day, ~ am afraid thar some OF
them will have 10 assign.
"The only large creditors Of the firm in this
city are the Importers aud Traders Nationsl
Bank and the Central National Bank, they
may yet secure themselves beyond the collat-
eral they now hold. II they do not, they are
able to stand their loss.
MIR. Horwitz absolved Moses S. Levy from
any knowledge OF the alleged transfer Of money
to Germany.
1t was said in commercial circles this morn
ing that feeling of insecurity has pre-
vailed among the clothing manufacturers
recently, and tnat It is quite
possible that this failure of so big nrm as
Levy Bros. Il Co, while 1t may not be the
direct cause, may yet prec,pitate some other
firms down the abyss into the gulf of liquids
ton.
The failure will undoubtedly tighten the
money market, and this may draw some weak
lings to the wall
WHERE IL JULIUS LEvY7
AT Julius Levy's home, 207 East One Hun
dred and Twenty-second street, an EVENING
WORLD reporter this forenoon saw one OF
julius Levy's sons.
Father has not been at homo since Mon
day afternoon last, he said. "and We have
seen or heard nothing of him. Mother Ia very
much prostrated by this blow, and is confined
to her room, seeing nobody"
~ worked In the store as salesman, and
also had caarge OF that particular branch OF
the work which pertains TO the payment of bills
by our customers
Here at home we were all astounded at the
| failure, and we know nothing about the
charges that large sums Of money had been
sent to Samuel Levy in Germany. We do not
| believe this.
"Monday l discovered for the nast time that
the firm was in trouble when saw the Snerin's
men IN charge OF the stock. That afternoon
my partner came home and went away again,
and we haven't heard from him since.
''Do think he has gone to Europe? Most
positively not.r
Reminded that he had told the reporter that
nothing hal been heard Of his father's where
aUouts. young Levy quickly remarked:
"Yes, that Is 80. He may have gone, for
all we know. but ! feel morally certain he has
not. There are i've children OF us, all grown
| up and living at home; but do not believe
| my fatner has conducted a very expensive
| household"
The interior furnishings of the house are OF
| a most elaborate character, and indicate a
generous outlay OF money.
The house s q four-storied fancy brick
| edifice, with quaint whle.tone trimmings
The outer aud inner doors are OF heavy OAK,
| with cathedral glass Windows. Lace draperies
hang in front of the wIndows.
Referring to the statement made that hi