Morning journal and courier., 1893-09-09
TO REMAIN IN THE FIRM.

It is Now Probable That William
 Nicely Will be a Partner in the New
 Firm with the Messrs. Malley-Some
 Interesting Figures as to the Amount |
 of Capital Invested I'm a Big Busi. l
 ness.
 From the present outlook it seems prob | able that MT. William Nicely will remain in | with the Messrs. Malley, de- spite the preparations which have been made to reorganize the concern into a stock company and tue rumors that he was to retire from the firm. Every since this change has been contemplated 1t has been reported that MT. Neely's intentions were to leave the firm. It has been reported all along that MT. Edward Malley, the senior member of the firm, and his son, Walter Mslley, also member of the firm had con- templated making a stock concern out of the business. An appraisal was begun of the stock of the concern to decide the basis on which Mir. Neely was to receive payment for his interest of the business, which, it is understood, was about one half. The appraisers were Ewen Mcintyre, of the firm of Even Mcintyre & Co.,. as Q representative of MT. Nicely, and MT. Gentles of New York, as a representative of the Mslleys. In case the two could not agree, they were to choose third ap- praiser to settle any differences which | might arise.
 The work of appraisal was nearly com 1 pleted when MT. Neely's partners began overtures to MT. Nicely for his retention in the firm MT. Neely's relations with his | partners have always been pleasant, and 1 his departure would not have beer permit | ted in the first place except for belief that the business would be benefited by stock
 organization. He met the overtures in the
 same spirit in which they were made, and
 the result is that he will probably remain,
 although the matter Is not clinehed, yet. l The statement which appeared in an af- ternoon paper yesterday to the effect that l 8 certain MT. Mcintyre was to be associ-
 ated with the Messrs. Malley and MT. Neely in the firm is pronounced incorrect ! on reliable authority, as also were the fig ] ures given of the amount of capital that
 the Messrs Maliey and Neely respectively | represent. It Is now quite probable that i MT. Nicely will retain an interest in the firm equal to one third of the capital stock. l The total amount of capital invested in
 tho business without the building is stated
 as approximately $500, ,OOO, while the
 amount invested in the business with the
 building and land included foots up to the
 neighborhood of half million.
 1 The amount paid by kr. Edward Malley
 for the land which he purchased of the
 Leffngwell estate about two years ago was
 yesterday stated on reliable authority to be | $140,000 This gave MT. Malley the com. plete ownership of all the land on which | the big stores to-day stand.
 l Should the nepOti8tfOns which arc now
 pending be completed it is probable that
 the new name of the firm will be Malley
 Nicely & Go. The new firm will make {
 strong combination, we'll able to conduct
 one of the largest dry goods stores in New
 England. All the gentlemen whose names
 are mentioned are well known from lone
 association with the dry goods business 1T
 this city, and they will undoubtedly giv'
 their patrons entire satisfaction.