New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-15
WHY PAYMENT WAS SUSPENDED.
The COUNSEL. roR LoMnARp AYREs EXPLAINS

THE COUNSEL. FOR LOMBARD AYREs EXPLAINS
THEIR TRoUBLE-TOO MANY CORPORATIONS.
The suspension of payments by Lombard & Ayres.
OF No u Broadway. explained yesterday by
their counsel John \. Deady Of No. 50 Wail-st. He
said
They got tired OF carrying corporations with
which they Identified and stopped. They have
assets twice as great as their liabilities and can
easily pay dollar for dollar Unless their creditors
make trouble for them there will be no occasion for
their seeking the protection OF the court The cor
poration of Lombard. Ayres Co. with capital
OF ss0,Gl) is distinct from the firm Of Lombard
& Ayres The firm financed the companies in which
II was interested. or in other words acted bank
for them. Among other things it Endorsed their
paper"
President H. d. Haven said there would be no re-
cever for the seaboard Lumber Company This
company has a capital of $4,000 and controls the
seaboard Railroad, the Seaboard Manufacturing
Company and the New-York Mobile and Mexico
Steamship Company"
The other concerns with which Lombard & Ayres
have been connected the Tidewater oil Com
pany Chester Oil Company. Ocean Oh Company and
Poar Oil Company The firm made large sums OF
money in the oil business in former years.
In the trade it was thought that the news from
Mobile that the property OF the seaboard Manu-
featuring Company in Alabama mad been turned
10 Il. C. Wright, trustee for the Dondnold-
ers, would facilitate a settlement OF the affairs OF
The Phoenix National Bank has obtained at
tacnment for s. against Charles y. Hanson, OF
East Orange. y J In connection with AFFAIRS OF the
Seaboard Lumber Company. Inc bank cams mat
on November 30 the Sesboard Lumber company de
lVered 10 the bank order directing MI. Hanson
TO deliver the proceeds OF the sac OF loo bales OF
hemp which Rad been consigned 10 the Seaboard
Lumber Company and OF which the bank became
the owner The bank directed Mr. Hanson as IFS
agent to sell the hemp. and IL Is said that he sold
304 bales on December 10. receiving $500, which he
refused to pay to the bank -. ,.,....
The Agence Commercials has obtained an inJunc-
ton against the Seaboard Lumber Company, the
New.YOrk. Mobile and Mexican steamship Company
and Lange Brothers of Hamburg. Germany. az man
ayers Of the steamer Amrum, from transferring or
delivering 100 ba.es OF hemp any one except the
plaintiff Deputy Sheriff Henning has an attach
ment for 81 5O4 against the NewYork. Mobile and
Mexican steamship Company. Of No. u BROADWAY.
in favor OF LANCE Brothers for freight ana other
charges on a cargo OF hemp on the steamer Amrunl,
which chartered by the New-fork, Mobile and
Mexican Steamship Company.
William J. Best, the president OF the COMPANY ny
announced yesterday that he had formed a conhec-
ton with another company. consultation OF
creditors OF the Enterprise Company. or No, IL
Broadway held yesterday az the once OF Bialr
a Rudd No. 80 Liberty-st.. and Mr. Rudd said that
nothing definite had resulted, but the board OF
Directors would decide the matter In Few days
c. W. Ke.lam the vice-president OF tne coinRsns,
said that he had made proposition 20 the credtors