Heavy Failure In The Iron Trade

Pittsburg, Feb. 23. - Graff, Bennett & Co., iron manufacturers of this city, filled a deed of assignment Tuesday to P. H. Miller, of Pittsburg. The failure was unexpected. In 1883 the firm failed for $1,200,000, and were granted an extension. Since then the firm have paid off about two-thirds of their indebtedness, and were supposed to be doing well. The large extention of their plant in which most of their profit was invested is given as the cause of the failure. The secured liabilities are estimated at about $600,000 and the unsecured liabilities about $700,000. Among the liabilities is a mortgage for $450,000, held by the New York Life Insurance company. The assets are believed to be about $800,000.