New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-26
CROOKED WORK CHARGED.
GEORGE w. srDTsoN e. co. ASSIGN.
TEE FAILURE FORCED BY A SMALL ATTACH
MENT-oTHER BUSINESS TROUBLES.


The firm Of George W. stetson O. Co. pigiron
commission merchants at No. 60 Wall.st and at
Boston, JAILED yesterday and the general partners,
william W. Van voorhis aud Herman P. Schuyler,
made general assignment without preference TO
Theron c. strong. George w. Stetson is special
partner for $4,000 to December 81, 1892. The as
alignment precpitated by an attachment obtained
yesterday by Picsnda Msther Co., Of Cleveland for
o. 500 the ground Of alleged disposition Of property
George w. stetson Co. sold pigiron for Hcanda
Mather Co 10 vsriops firms and 1t was alleged that
they had not turned over. tile proceeds The sales
to eight different concerns, the amounts ranging
from 5000 TO 81 o50 It was also alleged that SO0oo
had been advanced and paid TO person not men,
Der OF the firm, which he'd not been entered ON the
regular books Of account but only in private memo
randum books, and that the regular books showed
cash on hand over $4,000. whereas in fact 1t was
less than $4,000.
The attachment was issued against William W.
Van voorfis, Barton W. Van voorbls and George
w. stStson, who composed the late firm OF
George W. stetson, which was dissolved on
May al last j. by the retirement Of Barton w.
Nan voorhis who was succeeded by Herman r.
Schuyler. Deputy Sheriff Hemberger took possession
Of the Office attached the bank accounts and levied
upon other accounts and some other properly before inc
assignment was fled
The business was established In August, 1882, by
George w. stetson, William w. Van VoorhIs and
Edmund G. Stanton. The latter retired IN December,
1882. Mr. stetson retired as general partner IN
December 1885, and became special partner Tor
$4,000. Barton w. Van yoorhis became partner
In December, 1887, and withdrew on May Fl last on
account Of illness Mr.. Schuyler taking his place The
latter had been with the Troy steel ana
Iron Company for twenty years. W. W. Van Voor-
his three weeks ago claimed TO have $4,000
in the business and that his brothers capital of
$4,000 was also left in at the risk Of business making
q total capital Of Ss4 900 with the special
The trouble is attributed to becoming overloaded
with iron 1t Is said they advanced money to furnaces
AGAINST shipments, accepted drafts which came in so
fast that they were unable to meet them. They had
expected to 60 into liquidation and to pay in sixty
DAYS but the attachment precipitated assignment
Certain contracts and a portion of their business it
is said. have been assumed by another concern
The Sheriff yesterday took possession of the store
of Berth, Rheinhold Greene importers of woolens
at No. GO West Twenty third-st on executions for
81 1894 In favor of Isaac Landman The firm have
European manufacturers. Mr.. Berth has Just
turned from Paris and Mr.. Rhenhod died about two
weeks ago.
Deputy Sheriff Finn yesterday recevess an execu-
tion for $4,000 against David P. W. MeMulen. IN
favor of W. Nelson Cromwell, as assignee Of Decker,
Howell Co., balance due OF stock transactions. Mr.
McMaen had an Office at 10 A Broadway and was
Frederick Goodwin has been appointed receiver In
supplementary proceedings for Simon Buttner liquors,
Of No So4 Bowery on the application Of Willis stee
The assignee Of Peck, Martin CO. filed his accounts
on Wednesday with the Clerk of the Common Pleas
The accounts show that there is now In the hands of
the assignee S171 900 applicable to the payment
of partnership creditors. This will pay dividend az
ter dsSnsng al expenses Of at least AZ per cent on
OF uncollected claims from which considerable
amount will hereafter be realized.