New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-10
SUNDAY EDITION.
JAN. 10, 1892.
TROUBLES OF BUSINESS MEN
NOVEL; Il PRESBY'S FAILURE ATTACKED.
CREDITORS FEAR THAT IT WILL PROVE BAD
ONE-OTNER MLECHANTs IN DIFFICULTY

CREDITORS FEAR IHAI II WILL PROVE A BAD
oNE-oTHER MERCHANTS IN DIFFICULTY.
Creditors who have been investigating the failure
OF Novel; Il Presby. Wholesale dealers In woollens at
NO 20 White-st. fear that it will prove to be
lad one When they assigned to John II. Bird on
December 81 IL supposed by the creditors that
tie failure was legitimate one, and that they had
been pressed TO the wall by untounded rumOrs, and
many of the creditors prOflse their expressions
Of sympathy. Repevn wrts have been obtained
by creditors for large amount Of goods, which, il
Is said were bought shortly before the failure and
when the creditors went to pick ont the goods
they could find but small part Of what they
claimed 1t is alleged that dr-e quantities OF goods
we're shipped t. Philadelphia and baltimore, and
we're traced 70 thoS, cities ii was positively stated
Yesterday that large creditor had sarnshced his
GOOD, in the former city.
Carter Pmney Kellogg. attorneys for several credit
ors aid yesterday that they had recovered 5000 In
Goods in another city on one cplevin and 5000 on an
other feplevin. one OF the report rent yesterday was
that two Philadelphia firms had lent their paper 10
Novel; 4. Presby, that the latter had bought goods in
his market and shipped them to Philadelphia to make
GOOD their obligations there. Il was also currently
reported that Novel; Il Presby had hypohecated 100
ease, of goods with Il J. Dean & Co. for advances.
The latter firm, it is said. advanced about the inii
value of the goods stored In t1cir warehouses in the
regular course Of business.
Elumcn,teI & Hirsch are attorneys for creditors
who's, CLAIMS aggregate dtOut r''V'''"' 49, No.
issued replevins for about $1,000 il goods, which, 1t
:. ,aid we're bought short time befor" the failure,
and sav they found only a smLii percentage OF me
oodS in Novel; d Pre>by's store. The amount o' ''e
,,.plevips represented only part of the Claims OF
these creditors covered the goods bought recently
When asked If the Assignment, WAS likely to be SET
ASIDE they said that II looked - ii the firm expected
f. a. they we're confeSng judgments TO number OF
creditors who were preferred in the assignment from
other sources II learned that evidence was oel's
obtained by creditors with view OF making apphcauoh
20 set aside the assignment
Anotber startling report in circulation in the dry-
goods district is that John II. Bird tie WeFKnoWh
I,pyer has become disguised with the affairs OF the
,rri and was about to resign the aSs'"2cesinp Nheh
asked by a reporter if the report WAS r"e MT h""
mid. "There have been - mlrS lcsai cohpi'dHo"'
that I would be glad TO resign In favor Oh sbyooo'
selected by the creditors MI Bro fuf''er S''u "~
10 knew Of no fraud and had 10 knowledge % any
A,r,,,ocation or shipments OF goods out OF ,ho
v.I course Of business Mr. Presby. of the firm s''i0
Yesterday that they had not bought any sooo> u'uo'
false pretences. and he did not sac no" I'VE ''e"'''
could hold the goods under r"pievlhs' I've HI" nav
not Skinned any goods a. Philadelphia eAccp "hd' eS
on 70 parties there in the regular course OF business
A. ~ the advance 10y II. J. Dean a co. re uiu io'
- 60 e,v ANYTHING but referred the reporter 10 'hc
,.i,pae for any Information. Mr. PIesby c'uio h''
teu wha, the liabilities we're rs ihe assignee
49, -, hu.v with replcvlns that he could not make
mn the accounts The firm ne Salu Ia" 'oi'9i'N'"
.,ccl, and a good many book accounts
-. ohorigs Tracy and clifford have been busy
=, 10 ,r..h On the repevias For leaVltt I" MlVohcI
PREACHERS, who claimed 234 pieces OF goods vaiu'u
., s,a47 OILY nine pieces WERE lo"'''' IVA
eadeer q, CO., who claimed 900 pie'eS '"'- "
s-aaI they recovered 118 pieces aho l"o vas
.r uardt Lindcens & Co.. whose rep!e'ih was i''
80 COO %, pieccs were found for Ilardt Won beT-
.h l. 90 whose claim for Sl'9'' 'rN
,xo pjeces were recovered; for william "oou '
,bo claimed "a 600 eighty pieces "er0 49,. ~
a., put,s : Frost O. Co., whose claim was iof e4'"o"
a,,v.,ur pieces found Werh"as =" D""
- Two renlevins one for $9,73l. on whch h'!
t,rrd ninety nine pieces. all they caileu ior ''N
another for u 900, which they reco'erc" i' '
uicces Iselin Neeser Il 60. obtalheu r'l'- i =,
=. asa. but nothing further haN bee' oono wiz"
,r, herr,s officers also have obtained two cases Va
Goods on a writ from X. j. Dean q w. "'''0
an which there were 10 advance ,,. =,
simon f. Zimmern. wholesale dealer III !e"e'S'
Va Maiden Lane, made an assignment 49, -,
tse,b levi Sol and Benjamin oppelhoiH''' -" "
,orncys. said yesterday that the nHu!'''D, -. bod
s,oooo and assets about $1,000 Business was p"''
,,.,io,. Low, he had some heavy losses ana manu-
-. NOW .old direct To his customers thus hur'
Ing his jobbing bushes 80 riahn.avc
rudo,rb Ueltzen. isveler, at no. 7'3 kigh'havc
made an assignment yesterday - '""u'"' "e
Liabilities estimated at about S"'oV' ,
rl.,. eheriG McGinnis has taken possession OF the
-. -, william WinLenlng. dealer IN buiider' h"'N
FIF
vsrr nj No. 427 Third ave, on confessed juu-,'."'
,or a SO IN favor OF T. a T. C1rtin. NI'ioie '.'D
60 =, =. vcrth -. 900. he lacked ready capita
~ ~ ycars agl he bought the house No Low f"''
,t"e,r. eightli-t. for S.O.OOO. , t
1crr' G. Law yesterday entered Two lGuHGl'l,s iU
g, 900 ,caust the DuSbuTy Narrow fabilc .1hpaHHS,
hraids at No. Ii6 Tsnkn-> IN favor G' ,nn
= s,.srrs " King and the -herin toe" p,,o''sIV ti
r. Dotsnanv was Incorporated in October loSo VII"
csn'tal sinck Of $1,000. rel resent''i Eastern huu
rr.y- al, comm SION aid WI NiftlalN nc -
:, m. Dt.xinry (,ly SnN. which "a u1'' I ,;
~rhreorr 4 ~ ihtg. rhOleeu" ana fclaI ~.
s., drvrs4is al sherman. To-, VINO Lave eSSl ~.
r,ortgages for @i- 900. have AN once l uus .N 80
No o. Liberty formerly at No ~ "orh 81 ar1i
haze Icon represented here for several wears ~ <tp
ham Schneider the junior pine;, VINO 9 iva va hu,t
They hogan business At sherman IN io'"' anu "'' ~
nm the largest trade In that par OF the country ~
IL. thev erected several tenement houses III M
bund ,d and xcnty third T.. between LeAlheton or
Tmrth AYES and bought other Harlem piopru, VIII. ,i
largely increased In value. and year aeo wa ~.
mated as worth over 100000. They were rHpVre,'
10 employ "A capital Of about 5ln,Op IN 'hc p"Si
mess and TO carry stock Of SlJO,oV) s
In the schedules ~ Abraham Bachrr: tHc uec'ae
dealer in commercial paper. Of No. 2o5 Broah"ay, nc
lirm Of 81 schneider d Brother appeared as 'lcnins
for 81 20 Oe2 which $4,000 was for nO'e Oh Vic
firm dated July %. 1870. for 100000, when VIZ
discounted by the New. York security ana Trust '1i
MANY Mr. Eacker pntting up a. collateral SIUSV wv
al AIal bonds receiving the clOO,bDD