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Heavy Failure In The Iron Trade

Heavy Failure In The Iron Trade image
Parent Issue
Day
24
Month
February
Year
1888
Copyright
Public Domain
OCR Text

Pittsburg, Ftsb. 23.- Graff, Bsnnett & Co., iron manufacturera of this city, filled a deed of assignmeut Tuasday to P. H. Miller, of Pittsburg. ïhe failure was unexpected. Ia 1883 the firm failed f or $1,200,000, and were granted an extensión. Smee then the firm have paid ofï about two-thirds of their indebtedness, and were supposad to be doing welL The large extentiou of their plant in which most of thair profit was invasted is given as the cause of the failure. The secured iabilities are estimated at about $600,000 and tbe unsecured liabilities about $700,000. Among the liabilities is a mortsage for$450, - OLIO, hold by the New York Lile Insurance company. The assets are believed to be about í&jO.OOO.

Article

Subjects
Ann Arbor Argus
Old News