Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1884-07-17
ANOTHER FAILURE.
Dawson Brothers Closed by the
Sheriff The senior Member Of she
ma

Dawson brothers Closed by the
Sheriff The senior Member Of she
Firm AbscOnds.
The works Of Dawson Brothers, mann
facturers Of mills and mill machinery,
Fourth street near the railroad, we're
closed by Sheriff Martin Monday after
noon. The news Of the failure was on
the street early In the evening together
with the report that A. Z. Dawson, the
senior mAmber bsd abscopded. Great
sarpries WAS created by the report OF
the failure, inasmurh as the firm was gem
orally belle we'd TO be- doing large bust
ness and earning heavy profits. Cunsid-
cradle indignation was also expressed at
Mr.. Dawson's uuannouDoed departure
AMI number of his personal creditors
made vain and untimely efforts TO seenre
themselves against loss.
The frm'e Iishili,ies are estimated at
&60, 600; The Judgment debtor being the
J. Morton PJoie Company, whose judR-
msnt amounts to abont Si4, 900. II is
said the abscondiuR member Of the firm
has person al debts contracted RmorR &C
duaintAnoss and other business mel which
will amount 10 q considerable SUN ad-
ditional and the latter creditors have no
likelihood Of recovering any OF their
claims.
A rough estimate places the assets at
abou1 $l4 200, bat there lie strong like
lihood that the sppraisement will reduce
this sum. A msjority of Dawson
Brothers. creditors are residents Of this
city, and IL is very seriously feared that
some Of them will also be drawn under
BY the losses. Much OF the Indebtedness
was incurred for materia to carry on
the construction OF the mills.
Dawson Brothers established them
selves in business here trife over TWO
years ago in the old jute works, which
they fitted up with machinery especially
| for their work.
Their mills were regarded with high
favor by the trade and during an active
season they employed as high as loo
men, The men are now thrown ont Of
employment, and arrangements have
been made to pay them the wages due.
The works are now in charge OF the
sheriff. and will probably be sold shortly,
as there ia no Likelihood Of any arrange
ments being made for their continuance.
The business manager of the firm In
conversation with Q GAZETTE rep
resentative this afternoon stated tnat the
failure was due to the firm accepting CON,
tracts for work at prices which did MOI
leave them any margin and at times die
not cover the cost Of the work. Thu
firm being recently established, its mill
had to be introd oed at considerable ex'
pense and in the face of great opposition
which neoessitated the cutting down o
prices. He attributes Mr.. Dswson'i
sbscondiug to lack of moral courage e
stay and face his personal or. ditors, as h
disliked the annoyance OF meeting mai
with dun.
There are reports afi,at TO the eitec
that an investigation into the affairs 0
the firm develop a stronger reason for tn
sudden departure than that given by tn
manager. While residing here Mr.. DaW
SON boarded at the Clayton House
where he made many warm friend
and eventually creditors for ditferen
sums. His family left here abou
two weeks ago for the west. Mr.. Dawaol
hurriedly packed mp last evening, settle
his hotel bill and left the city In tn
6.46 D. m. train. Where he has gone
not known by his associates in business
the manager not knowing that b
intended leaving the city, although b
states he expected 1t.