1.
November 8, 1873
New-York Tribune
New York, NY
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BUSINESS PROSPECTS. DISASTROUS EFFECTS OF THE LABOR CRISIS IN NEWENGLAND. BOSTON, Nov. 7.-The Manchester, N. H., Print Works will do no more printing until December. About 500 people are thus thrown out of work. The mills have shut down this week, and it is understood will run only four days a week hereafter. The Mills of the Great Falls Manufacturing Company will be run on three-fourths time on and after next Monday. The Amesbury Woolen Mill began running yesterday on half time. The Salisbury Mills are running on threequarters time. The Merrimae Hat Company of Salisbury will shut down to-morrow for the month of November. Owing to a reduction of their wages a large number of laborers on the Maine Central Bridge at Watervilie have quit work, leaving very few employed at that point. The Maine Central Railroad has just discharged 300 workmen. SUSPENSION OF A PITTSBURGH BANKING-HOUSE PITTSBURGH, Nov. 7.-The banking-house of Ira B. McVay & Co. closed its doors this morning, owing to complications growing out of the suspension of their Eastern correspondents. |LATER.-The Suspension of Ira B. McVay & Co., bankers this morning, created some excitement in financial circles, and rumors circulating regarding the soundness of a few of the banks caused a run upon them. The financial situation here has not improved during the past week. HUNDREDS OF WORKMEN DISCHARGED IN ST. LOUIS. ST. LOUIS, Nov. 7.-Two of the iron works in South St. Louis have stopped work, throwing about 200 men out of employment. The Vulcan Iron Works has stopped two out of three furnaces, closed their railmill, and discharged about 400 men. Other works have either stopped their furnaces or discharged part of their employés, and all have reduced wages 20 per cent. Many mannfacturing establishments in this city have materially reduced their working force, but have not cut down wages. SUSPENSION OF A PHILADELPHIA MANUFACTURING FIRM. PHILADELPHIA, Nov. 7.-Schoepper Brothers, manufacturers of dress goods, have suspended. It is reported that they have ample assets to pay every dollar of their liabilities. LABOR IN BOSTON. The operations of the Boston savings banks at this time are of evil augury for the coming Winter. These institutions are paying out their money freely. Many out of employment are compelled to fall back upon their savings, and this drain is likely to continue as the Winter advances. Drafts at present are in excess of deposits; and this is attributed by the officers of the banks to the loss of employment among the poorer classes. There is no panic-the drain is occasioned by pressing daily wants. Drafts are always large in the Autumn, but this year they are unusually 80. Meanwhile, it should be generally understood throughout the country that there is at present no demand for labor of any kind in Boston. For other reports of Business Prospects see Second and Third Pages.]
2.
November 8, 1873
Memphis Daily Appeal
Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
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BRIEF ELECTRICS. In London yesterday there was a great depression in the stock market. Dispatches from Paris state that the left abstained from voting Thursday for president of the assembly. The greater portion of the cargo of the steamer Virginius was thrown overboard or consumed in the furnaces before her capture. A Toronto dispatch says that all hope is abandoned of the safety of the fourteen persons left on board of the burning steamer Bavarian. Schoehper Brothers, manufacturers of dress goods, in Philadelphia, have suspended. It is reported that they have ample assets to pay their liabilities. The banking house of Ira B. McVay & Co., in Pittsburg, closed their doors yesterday morning, owing to complications growing out of the suspension of their correspondence. Th following, furnished by a correspondent, is the vote of Tunica county, Mississippi, with one district to hear from: Ames, 666; Alcorn, 11. The vote is reported very light. A Havana dispatch contains the following, under date of yesterday: "General Portilla arrived here this afternoon. He was received at the depot by a deputation of citizens with banners and music and escorted to his hotel." Five of the men arrested at Antrain, in France, on the charge of being engaged in the conspiracy to abduct the niece of President McMahon and hold her as a hostage, have been convicted and sentenced to various terms of imprisonment. A quarrel, growing out of an old feud, between George Hopking and Mr. Balley, of Brawneston, Henry county, Missouri, Wednesday night, resulted in the killing of Hopkins and mortally wounding of Bailey, Both were highly respectable citizens, Hopkins having been public administrator of the county.
3.
November 8, 1873
Wilmington Daily Commercial
Wilmington, DE
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Latest General News. There have been no deaths from yellow fever in the past twenty-four hours at Montgomery, Ala., and the few cases on hand are convaleseing. The funeral of General Delafield took place at Trimity church, New York. yesterday afternoon. The remains were interred at Greenwood. The planing mill of Schimpf & Sons. at Allentown, Pa.. was burned yesterday. Loss $20,000. Aa incendiary, it is supposed, did it. A quarrel, growing out of an old feud between George Hopkins and Mr. Bailey, of Brownerton, Henry county, Mo., on Wednesday night, resulted in Hopkins being killed and Bailey mortally wounded Both were highly respectable citizens. Parties interested in the proposed prize fight between Allen and Hogan are making efforts to have the fight come off near Kansae City, Mo. Allen had a benefit at the theatre there on Thursday night, and Hogan will have a benefit on Tuesday night, after which they expect to start for Omaha. The funeral of the late Louis Gavlord Clark took place yesterday afternoon at Upper Piermont. By direction of the President Lieutenant Wilkinson, of General Howard's staff, has been ordered to Fort McPherson to conduct the Modocs to their new home in indian Territory. The destruction of the state printing establishment at Harrisburg by fire will not in any way interfere with the work of the new constitution, or delay its submission to a vote of the people. The banking house of Ira B. McVay & Ce. of Pittsburgh, Pa., closed their doors yesterday morning. owing to complications growing out of the suspension of their eastern correspondents.
4.
November 8, 1873
The Wheeling Daily Register
Wheeling, WV
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PITTSHURGH, Failure of Ira E. McWay & Co. Bankers. PITTSBURGH, November 7.-About ten o'clock this morning the well known banking house of Ira B. McVay & Co. closed its doors. The following card, was posted on the door owing to complications growing out of the suspension of our eastern correspondents, we are compelled to close our doore. IRA B. McVAY & Co. The evening papers contain 3. similar card froin the firm promis ng & settlement for the creditors in 8 few davs The liabilities and assets are not yet KOOWD. SECOND DISPATCH Considerable excitement was created in this city to day bv the ansounce. ment of the suspension of the well known banking firm of Ira B. McVay & Co It is stated the heavy drain on the House, after the failure or Jay Cooke & Co, together with the subsequent failure of their New York correspondents Mesers. Bloyd. Hamilton & Co. was the cause of the suspension It a reported the Mayor had $10,800 o: the city funds on deposit with them. They are preparing a statement of their assets and liabilities, which will be ready S few dave Poisoned A special to the Pittsburgh Leader 10-dav from Waynesburg, Pa., states that the coroner's jary in the case of Sarah Hear wife of Dr Jeremiah Hess of Quincy, Pa. who died suddenly on the mord ng of October 22d. basien= iered a verdict that the deceased came to her death by po son stope perso on unknown.
5.
November 8, 1873
Nashville Union and American
Nashville, TN
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Bank Failure at Pittsburg. PITTSBURG, Nov. 7.-The banking house of Ira B. McV ay & Co. closed their doors this morning, owing to complications grow. ing out of the suspension of their Eastern correspondents. General Suspension of Iron Works at
6.
November 8, 1873
Los Angeles Daily Herald
Los Angeles, CA
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PENNSYLVANIA. PHILADELPHIA, Nov. 7.-Schoolfer Bros., manufacturers of dress goods, have suspended. It is reported that they have ample assets to pay all liabilities. The Philadelphia Despatch says that rumors were current on the street today, of Colonel Tom Scott's resignation of the Vice-Presidency of the Pennsylvania Railroad Company, but the result of careful inquiry proved their falsity. Many believe that the rumor was invented and spread in the interest of stock speculators. PITTSBURGH, Nov. 7.-The banking house of Ira B. McVay & Co. closed this morning, owing to complications growing out of the suspension of their eastern correspondents.
7.
November 8, 1873
The New York Herald
New York, NY
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A BAD FAILURE. Suspension of a Pittsburg Banking House-$500,000 in Deposits Gone. PITTSBURG, Pa., Nov. 7, 1873. The banking house of Ira B. McVay & Co. closed its doors this morning, owing to complications growing out of the suspension of Its Eastern correspondents. It is said the bank had deposits to the amount of $500,000, mostly belonging to the numbler classes.
8.
November 8, 1873
The Daily Dispatch
Richmond, VA
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suspensions, PHILADELPHIA, November 7.-Schoper & Brothers, manufacturers of dress goods, have suspended. PITTSBURGH, November 7.-The bankinghouse of Ira B. McVay & Co. closed their doors this morning, owing to complications growing out of the suspension of their eastern correspondents.
9.
November 8, 1873
Los Angeles Daily Herald
Los Angeles, CA
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PENNSYLVANIA. PHILADELPHIA, Nov. 7.-Schooeffer Bros., manufacturers of dress goods, have suspended. It is reported that they have ample assets to pay all liabilities. The Philadelphia Despatch says that rumors were current on the street today, of Colonel Tom Scott's resignation of the Vice-Presidency of the Pennsylvania Railroad Company, but the result of careful inquiry proved their falsity. Many believe that the rumor was invented and spread in the interest of stock speculators. PITTSBURGH, Nov. 7.-The banking house of Ira B. McVay & Co. closed this morning, owing to complications growing out of the suspension of their eastern correspondents.
10.
November 15, 1873
The Wheeling Daily Intelligencer
Wheeling, WV
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Probable Resumption of McVay & Co. PITTSBURGH, Nov. 14.-A meeting of the creditors of Ira B. McVay & Co., bankers, who suspended a few days ago, was held this afternoon. Their statement shows their liabilities to be $452,943 34; assets, $517,659 73. The meeting was largely attended, fully one-halt of the indebtedness being represented. The statement was accepted as a satisfactory exhibit of the affairs. A resolution was adopted granting the firm an extension of two years, their liabilities to be paid in four equal semi-annual installments. The resolution also provides that they shall have until the 12th of December to secure the signatures of their creditors to the agreement for an extension, the signatures of nine-tenths of the creditors to be binding on all The prospect is that the firm will soon be able to resume on a basis as sound as ever.
11.
December 4, 1873
The Wheeling Daily Intelligencer
Wheeling, WV
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Bankruptcy Cases at Pittsburgh. [Specifil Telegram to the Cin. Commercial] PITTSBURGH, December 2.-Ira B. Mc. Vay & Co., the suspended bankers, have filed a voluntary petition to be declared bankrupt. A large percentage of the creditors were willing to grant them an extension, but some et the smaller creditors withheld their signatures in hopes that when the ninety per cent had agreed to the extension their claims would be considered separately, and probably paid in full in order to get rid of them. Under the circumstances It was deemed best to go into bankruptcy. A meeting of the stockholders of the National Trust Company was held last night, and it was 'largely attended. The object was to raise means-the stockholders being individually liable-to pay off the indebtedness of the bank, and $500,000 were subscribed, and as much more will be forthcoming if necessary. The hearing in charges of conspiracy made against Mayor Blackmore and others, of the Mechanics' Savings Bank, who are charged with having manipulated the funds of the bank for their own use, has been postponed.