The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-10-07
COFFIN q srAYroY,s AFrAIRs.
Latest Financisl Statement of The Assert
can nebenture CowpssY.

NVEEAN " HAANAS"N
Latest Financisl Statement of The Assert.
can Debenture Co-pssy.
Justice Lawrence Of the Supreme Court
granted an attachment yesterday against the
property in this State OF CONN q Stanton, linn
tied, Of London, the New York branch Of which,
Conn & Stanton, was placed in the hands of a
receiver by the United States Circuit Court on
Thursday. This attachment is granted at the
instance Of the Martins Bank, limited, of Lon
don. In an action brought TO recover SIG, SOC,
being the value Of a draft made by CONN q
Stanton, limited, Of London. on June 20 Last,
payable TO the order Of the Martins Bank, lin
tied, upon Conn & Stanton of this city.
Justice Lawrence has granted q motion for the
appointment Of a receiver Of S150,000 Of bonds
Of the City Of Ironwood, Mich, which were in
the hands of the firm Of Cofin & Stanton under
. contract for their purchase. These bonds
were issued about a year ago by the city Of Iron
wood, and are known as six per cent. public i'm
provement bonds. The firm of CONN q Stanton
agreed TO purchase the bonds for $4,000
Upon their delivery the arm paid $4,000, and
agreed to nay the balance Of the purchase price
in installments until the full amount was paid.
The city Of Ironwood claims that nothing fur
Their has been paid by the brokers, and that the
balance Of the purchase price Is still due.
Mayor Schieren Of Brooklyn yesterday made
this statement In reference to the S14s.000
worth of Gravesend bonds which the firm OBJ
tained from John Y. McKane;
"The Law Department informs me that It has
been trying ever since the Gravesend Anncxa-
ton bill came into force to ascertain the indebt-
Mr.. Mcdonald found that Si4s, 6oo ~ bonds had
been prepared for issue and left by Mr.. Mckane
newer y could ascertain what the Understanding
really was between McKane and these brokers;
THE Law Department has made demands and
answer until last week, when we had a con:
ference here, and the Comptroller ana myself
SSS stdSm the return of the bonds. Nothing was &C:
complished at that conference. They evaded
counsel, Gen. Tracy. The law department. has
that matter in hand. The city has nothing
whateyer 70 do with the Issue Of th9se bonds
Erb, receiver. Mr.. Erb has taken offices ON the
building. and the books Of the firm were be-
| ing removed to the new offices under the direc-
tion Of Mr.. c. ID. Turney, the Secretary of the
American Debenture Company, and. Mr.. Lud-
wig, who said that he was the confidential rep
resentative of Messrs. Coffin & Stanton.
csppitsi stock, per cent. preferred. .....'.. 100000
Pe6ssn, snS iS Sst sesount. undivided proats... sS,GSa
Reserve fund TO cover commissions and ex. -,oo
sundry credit balance Of Water Company. s24.333
E Is;sIs.s .s Pay tTYsYi
.ss. $780, sos
CONTRA:
Stocks and bonds. ......"..sa,setss 5
ADVANCE a to water companies: sejsiY
sasS on f SsSS and in 6ani... ssa.Ssi
Total. t5'SSo,Soo
INCOME.
, pnrtosafts no y iInaips Account ~s2's6s
Premiums on debcntures sold ............ 4,7l0
enndrv nro6ts 800
Total income. sio2,3s5
EXPENSES.
Commissions and Expenses In
Issue OF nebeDtures. ...........Sls,Ho
Net cost OF operating company,
Tor services on his account 800. 5000
Interest on Debentures outstand' ~
o''p
Total Expenses. ............. s5qes9
Net Earnings. sios,o7a
APPLICATION.
Dividends on preferred and COM
Loas on securities written out. 49,. $3.50
Reserve for expense future issue OF
debentures. ...........,..'"..''''' ihioS
Total application. .........."..... soe,<3s
Balance, sss.os4
PROFIT and loss account:
Securities purchased ......."........ '7O.2s0
Front and los, Jan. 1, 1893 ........... sss,4as