New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-05
rowLEH, CE4uPr0A d c0,SEATLrRE

THE LIABILITIES HALF \ MILLION
WHAT LED TO TIE sCsPENsioN-No ESTIMATE or
1Hr ASSES MADE--A RECEIVER FOR TIE DIXON
rGucIBLE COMPANY oN ACCOUNT OF THE IIEM'5
FAILURE.
The announcement Of the failure of Fowler
Crampfon & Co., importers Of chemicals and crush
crs oi liusced oil, Of 80 1i2 FrOutst.. WAS made
Yesterday. The house had been established over
hlty years. had az excellent reputation aud
credit and was supposed to he worth upward Of
$3.50 900. The failure IS attributed to I'M
successful ventures and general depreciation.
The firm owned the Nassau Lln,crd Oil Mills, AZ
Nos % to 81 Furman-et. Brooklyn, which were de-
stroyed by iirc May % 1879. 1t rebuilt the burned
works, but raveup the business OF crushing lLsced
Ill. and also abandoned other OIL trlnsacuoa7 about
six months ago. With n view of extending its busi-
ness. the firm purchased tverty-fom acres of land
az BIZ. Ridge for new oil works but beyond laying
0ut the ground no work was done.
The amount of the habit les is not definitely
known but il IS eSi lmael that they viii DE almost
100000, part of which is duo 10 banks ior i'd
vuces. 70 the trade for merchandise, and on notes
No estimate is Civ OF the value of tho assets, which
consist Of real estate merchandise, some Ot winch IS
pledged for advances, bills yable and open ac
counts. The members Of the firm, Frederick Il.
Fowler. William c Fowler and Mahlon 3. Crmp-
ton. made an assignment Yes crday to Alfred VI.
IcwS. their cashier giving preferences To Campbell
* IhayeT. Zopnar Mills, Thomas !. Buckley and
Piqtt Il Woodward. ihr aforementioned preference
is fol $4,000; fhe other amounts are not stated,
bar are for borrowed money.
Tho house was established over Gfty years agO by
H. ~ Schirh,ln. Frederick H. Fowler became rs
s0cIat.d with aim fCrtv-yc years ago. undrr tho
nam" or Srhril.iin x Fowler. ". {. Fowler
qtort,d I'm ms mess on his own arruunt ~ IJdcl-
phia IN the soda ash trade. IN - 49, aid two wears
ltor ne was made Il partner IN the urn Oi Baker,
Fowler * Co. IN the glass business ne Withdrew
i'm 49, cIme 20 Ncw-IOr6. and became Il mem ~
OF tine finn OF Schlcilehu ~ lp"ICr. In i0Vf me
present lame OF the firm, Fowler, Champion ~ Co.,
was adopted. They were estimated 10 he worth
$4,000 n 1876, but these means have been grtd-
uallY reduced 10 he trade estimates - F31O.oOO.
Al one time they we're The heaviest importers If
sod ash IN the country, and they also owned the
Nassau Flint Glass Works until 1872. W. {. FOw-
Ter was president 0f tho Long Island Btnk,of BROOK
Ign. Tor number Of years but resigned January l.
John A. Walker. the secretary Of the Joseph
DIXON Cruuble Company. Of Jer"cy cry. made APP
piIcatIOn to Chancellor RuuY0n yesterday morning
for the appointment Of receiver 81 tue company.
Ia, suggested the appointment OF edward +. {.
Young the president Of tine Flr>t National Bank OF
.J,r,ey City. Walker stated tAat Fowler, Champion
a. Co. held the paper OF the Cruc Bile Company Tor
large amount. and il was though; best Tor the pro-
tectlOn Of all interested to nave receiver ap-
pointed. The Liabilities ol tue cg2inpanF are
81 0O0O 600 aud the assets amount to the same snm.
The assets consist Of the large factory ai
jersey CITY, which ~ hlled with machinery,
large quantity of lead pencil. crnclbioS, axle
crease and crude plumbagO and graphite, and tie
graphite mlles of the company at Fort llc0nderOga
This State The Chancellor granted the application
and appointed Mr.. Young receiver OF the company;
Mr Young. bonds were placed ~ $4,000, and
he was instructed to lille them this morning.
- cannot give the amount OF our paper held by
Fowler Champion IL Go. at the time OF Their 1aiI-
ure said ex- CONGRESSMAN Orestes Cleveland, the
president of the company. to a reporter of TIE
iRIBUNE last evening. We mad been purchasing
rrvIon plumbago of tile frnin large quantities. and
GAVE our paper IN payment Some ofthls paper ~ now
Yearly due and the firm assets are IN the hands
of an assignee and we would not be able to secure
m extepslon of tlme SO We asked Tor he appoint
mept of a receiver 10 protect Our Interests We
have over 600 hands III our eIspOy, have been con-
santv increasing business, and our AFFAIRS were
never so ppOs porous We can secufe through our
receiver the extension of time on our paper when
we could easily have secured from the firm If It had
not failed Work at factory and mines VIII not
be stopped the difficulty beng temporary The
company was organized Ill 1868 with cash capital
OF S75O00O. The officers besides myself are john
A. Walker. secretary, and william a. DIo"n'
rnrV