St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-05
A EEEsUUr &Ea.UR
Unreasonable Demands by the
knight of Labor Throw II Big
Snne irIn IntO RankrmnIcY.

UnreasOuable Demands by the
knights of Labor Throw IL Big
Shoe ! irm Into Bankruptcy.
BOSTON, Dec. 4.-The firm of A. P. Martin
s; Co., of Boston, has failed. The senior
member of the firm is Gen. Augustus p.
Martin, ex-mayO Or OF Boston, who, during the
war. commanded brigade of light artillery,
and who is one of the most prominent busi-
ness men in New England. The firm carried
on wholesale and commission boot and shoe
business, and their establishment and busi-
ness probably the most exten sive of its
kind in New England The members of the
firm refuse to make am statement as TO their
assets or liabilities, or the causes of their
failure. The liabilities will not exceed $780,
UOU, with assets considerably less. The firm
made tue assignment for the benefit of their
creditors to Edward L. Pickard, of the firm
OF N. w. Rice g. Co. The an
uouncement of the failure has crea-
ted great sensation throughout
this city, although the assignment was made
so late in the day that it had no effect on gen.
eral business. After the failure nad become
known Gen. Martin received numerous offers
Of assistance from business friends. but de-
clined them ali. saying he preferred turning
every thing over to the creditors without re-
serve and have the business wound up.
There had been depression in the boot and
shoe business for over three ears, he said,
Notwithstanding which the firm had kept
their factories running to their full capacity
preferring to increase its present enormous
stock rather than to suspend operations and
curtail the production Uy throwing a large
number of operatives out of employment.
During these three years, although the busi-
ness had been carried o. at an actual loss,
wages had been increased at various times as
demanded, the firm entertaining the hope
that a revival in trade would enab it to
recover from an Improbable season. Last
spring the firm had contract to furnish
5000 cases of shoes to Western house at a
certain price. While the order was beins
filled the knights of Labor demanded an
advance IN wages Tor operatives, which, If
granted, would compel the firm TO fill the con-
tract at serious loss. On the other hand
strike would cause the firm to break its con-
tract. The demand was granted and the con-
tract was filed. The business has become de-
pressed, and the firm decided that it was bet
ter to stop now than go on and become more
deeply involved. Gen. Martin Sa, S the assets
will pay a dividend to the creditors. but how
much he would not say. He deplored the ne
cessity for the assignment, and hoped the
firm would be able 10 resume business when
il could be carried OH without interference
and dictation. The failure, he said, would
not involve any other firms There was no
dishonesty of any kind connected with 1t, and
it was the unreasonable demands of the en-
ployes and the continued depression in trade.
The factories which had a capacity of pro-
ducng LOCO pair of shoes per day, will be
closed at once, thus throwing out OF employ
neut some seven hundred. liz business Cir
cles the failure is regarded as omnous. 1t is
known chat the depression has been seriously
felt by the trale, and it is argued that if so
wise and conservative firm could not stand
the pressure, the outlook for others In the
trade is not encouraging.