Show t 1 SPECULATED IS SUGAR i Cause of the Failure of Two East ness Houses t New York Sept Unsuccessful speculation t spec-ulation in sugar by a Junior partner was the cause of the iallure of the large knit I goods manufacturing house of Theo S E Baron l Co and of S Baron of this city The confession was made to a meeting of the firms creditors today by the elder Baron who places his loss at i 1 57100 The latter is a son of the senior member of the firm ii fr This year Theo S Baron Co did a e prosperous business and when a assign aslg meat was made last month It was a surprise sur-prise to thf trade Counsel for the firm frm said today that the assets were 12213249 preferences 541000 liabilities 183000 The I rirm had hoped to pay 25 per cent on the 2Y cnt dollar but instead submitted a proposi ton for 2 cents on the dollar This basis of settlement did not meet with the apt ap-t proval of the creditors Creditors exam f ining the statement sheet noticed an unexplained un-explained deficit of 7100 and asked for an explanation The S Baron was vis f saidGentlemen ibly agitated and his face flushed a he r Gentlemen I took that 7100 unknown 10 my father who is the manager of the company I drew it out in two checks one for 54000 and the other for 53100 Itt speculated cent in Wall street and lost every centAnd what did you speculate in pray tt demanded a creditor k4 Sugar answered Mr Baron And you drew out the money unknown to our partner I demand that this story investigated Let us have his banKbook i bank-book and brokers accounts Counsel Insisted that the young man Fl was telling the truth Subsequently the < creditors agreed t a compromise at 33li per installments cent the money to be paid in three < |