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Show General RIcArlliur'si Failure, Chicago, 20. Tho failure and defalcation de-falcation of Postmaster John McArthur McAr-thur is the subject of much comment and universal regret. McArthur held a high business and social standing in the community and has hitherto been considered one of the staunchest and most reliable of Chicago's citizens. He first became involved to the amount of about $10,000 by the failure of the Cook County national bank two years ago, and though the government , assumed half tlie responsibility, whiah ! amount it was supposed would be ' covered by the assets of. the bank, McAithur has nevdr been able to replace the sum. Besides this lie became be-came involved in unsuccessful operations. opera-tions. li3 largo iron foundry lost money and he took money from the postoflice department to lido matters over until a loan cfinld be negotiated from aomo capitalists. Ho expected also to be enabled to dispose favorably ol some portion of his foundry, but in 1 all his schemes for replacing tlie money he was unsuccessful, and consequently con-sequently filed Ins petition in bankruptcy bank-ruptcy on Saturday afternoon. Hk 1 petition shows total liabilities of about ' $107,000, and his assets $-200,000. Of the debts S-jG.000 are due tho United ' ft iltfo r&SRTft Ptffluiii&Y 'u ? ?v ifiVi i Ii 4 ' 19 1 ! treasurer. The secured debts are $43,000. It is believed that govern- i mcnt will lufe nothing, being amply 1 secured by the bondsmen. I |