New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-24
L0clL BUSINESS COMPLICATIONS.

The Mining q Dredging Power Company OF NO
IS Broad-st has become financially EMBARRASSED
and Yesterday Thomas c. Condor was appointed re-
ceivcr by Judge Andrews. OF the supreme Court
on tho applca,!0n Of John r. Stuyvesant, treasurer
and general manager who Is also the largest cred
uor holding on,--nfth Of the entire oolSauohs OF
the company Mr. condor has also been appoiHteN
receiver In West Virginia, the company having
been Incorporated und,- the laws OF that State
vas incorporated five years ago "lth a capi'1'
stock Of 81 10000 Edwin \. Stevens. OF HonoKeh'
was president for years. \. ). Hatch Is now
president Since February tho company mas peeh
az WORK on a contract with tho Kings, queens ana
Suffolk Company for the deepening OF the chahheI
and filing I'm lands in Jamaica Bay. Mr. StuyVesaht
SAYS that Il IS doubtful II the Mining & Dredging
Power Company can complete the work because OF
lack OF funds and admits that 1t Is insoiVeht anu
unable TO pay its present Indebtedness. IL was
said that the company owed large sums OF money
to employees and to forty or my other persons;
Of bills payable sooo; for materials -s and %%orN
500 notes ~, ~ Win Two years interest,"
estimated at $3.50; notes due September l. secure
now due secured by lien paten.s. $1,000 The
value OF the assets Is not stated Inc receiver -
authorized by the Court. in his discretion 10 COM
plete the work under the contract at Jamaica Bay
The failure OF Phillips pemltzer. wnoleS o.e
caused considerable comment IN me trace; a. a. Is
said they purchased goods up 10 wnn Lew uays
All the stock has disappeared from Their store ana
only cuptV boxes II Is SAID, were IeIN DeputS
Sheriff Henn!ng has Attached Whatever sSu.sy .'se
firm may have in some furs which recently ar,
rived from Europe and are now In the haEds OF
bankers who made advances thereon. on the az
tachment for 81. 6lS in favor OF Thorer Praetori
GUS The liabilities are reported 10 re sfVVW OF
Alexander p. Alley and George II. Montrose.
manufacturers OF cloaks. at No. ~ BROADWAY,
Yesterday confessed judgment for 2Vl' IN favor OF
Theodore G. Zerega on "A note Cor money lent ara
Deputy Sheriff Henning took charge OF their place
OF business They have carried on business under
the firm stye Of Alley X Rosenberg since they
started in business in 1856 The news of the suspen-
sion of the firm caused considerable surprise n the
trade as Mr. Alley has wealthy relatives, ana mas
had excellent facilities for obtaining loans. hrec
Mills & Glib the importers Of white goods and was
a salesman for the firm FOR ten years. IL IS said
the liabilities will not exceed Sl2VN. Wnlle tne as
sets are nominay valued 1t is said. at s2o,W. on
stock and accounts. ., g., .,,
The Sheriff has received execution for SOIL
against Abraham \. DanZg, manufacturer OF
women's underwear at No. 4o9 West broadway. IN
favor OF Simon Gollenberg The Sheriff found noth,
ing 70 levy upon as all the stock had been removed
and only empty boxes were left.
and eggs at No l5 Reade-st failed yesterday and
Deputy Sheriff Mulvaney closed up ms store on an
execution OF $l5 020 from Abraham Levy III favor or
the Rowery Bank TO which Mr.. Schmidt confessed
Judgment on "A note which the pahk uiScounteu on
Nav n payable thirty days from date Fred c.
Ielibuscher his attorney said yesterday that when
Ohly Schmidt & Co dissolved, a year ago In order
To vet his partner. Mr.. Only, out Mr. Schmidt as
suned the indebtedness of the firm which was
large probably close to 100000. Mr.. Schnliut mas
duced II materially but he found the load too heavy;
was unable to get some or the notes renewed ana
the pressure became great that ne nad 70 sus-
pend The liabilities estimated at about $4,000