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Miscellaneous Reading. [From the Rock Hill Herald, September 10.] J. M. IVY & CO. The banking and cotton business heretofore conducted at this place under the firm name and style of J. M. Ivy & Co. has been closed for the present, and Mr. F. W. Williams, of New York, has been chosen toliquilate the affairs of the firm. There are many wild and exaggerated rumors in circulation concerning the reason for the suspension, and that the public may be informed of the ruth we have made careful inquiry of those who are fully informed of all the circumtances connected with the suspension and have learned the following facts: As is well known to the readers of this baper, Col. Ivy, who constitutes the firm of M. Ivy & Co., has been in bad health for ome months, and that of late, his condihas been so precarious as to preclude the possibility of hisgiving any active attention his affairs or to personally supervise, in any way, his large and varied interests, as was his habit constantly and zealously when health. Acting on the advice of his physician and with the hope and expectaof being restored to health and activiso as to be prepared for the labors of the approaching businesss season, Mr Ivy, in the month of May, went to Wisconsin and there placed himself under treatment. Finding after three months' absence from home that there was no improvement in condition, Col. Ivy returned to Rock Hill, hoping that the beneficial effects of the treatment which he had received would be elt when he would again be in the quiet of home. Instead of improving, upon his eturn he was prostrated and grew much veaker day by day. Realizing his precaricondition and feeling that he might not soon be able to give his extended busness affairs any attention whatever, Mr. vy, two weeks ago, telegraphed Messrs. Williams, Black & Co., of New York, who his friends as well as principal crediand business correspondents of many ears standing, to come to Rock Hill to onfer with him, he not being able to go to New York. Black, of the firm, at once ame to Rock Hill and found that Mr. Ivy's hysician was of opinion that his only ope of improvement was in absolute rest nd abandonment of business, whereupon Mr. Black returned to New York and the irm of Williams, Black & Co. at once sent heir legal adviser, Col. John C. Haskell, Columbia, to hold an extended conferwith Mr. Ivy and with him to decide the course best to be pursued. Col. Hastell spent most of the last week here. He consulted with Mr. Ivy daily and they finalconcluded, in view of the fact that Mr. Ivy vas largely indebted and the assets to be collected being large and varied, that a leed of assignment should be made, and that the matter of settlement should be enrusted to some one of large experience and who would have a care for Mr. Ivy's interas well as that of other creditors. Mr. vy thereupon selected as his assignee Mr. Francis W. Williams, of the firm of Wiliams, Black & Co., of New York, and made a full assignment for the benefit of his reditors, without preference. The aggreamount of liabilities is $237,128. Mr. himself and those persons familiar with businsss say that, while his assets have been appraised, they should, and certainwill largely exceed that sum. It is beieved that no one to whom he is indebted, ither by account or deposit will seadollar. These are the facts of the assignment and he attending circumstances as we have (athered them from reliable sources. The reason for this unexpected developin Mr. Ivy's affairs (as much unexected to him as the public) must be found the protracted and prostrated condition his health. Could he have been restored health and activity, this great misforwould not have overtaken him, as is iniversally believed by all who know of marvelous industry and remarkable bility as a financier. Should he yet reover, as his friends all hope he. will, we ave reliable authority for saying that he vill again start business on a scale equal to hat which he has heretofore conducted The house of J. M. Ivy & Co. is one of the ldest in our town, dating from the time when Rock Hill had no corporate existence. suspension has shocked this whole secand the closing of its business, even a short time, is a disaster to the comnunity. We suppose it was more widely and better known than anny house in upper Carolina. The firm annually handled from 0,000 to 30,000 bales of cotton and did an xtensive banking business, perhaps greater han any house of the kind in any of the in-
