New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-24
BIG T0BACC0 FIRMS FAILURE.
NJ & f. sALOMON GO UNDER WITH S3oo.ooo LA
BILITIEs-oTHER BUSINESS TROUBLES.

BHITIEs-OTHER BUSINESS TROUBLES.
The firm Of W. & F. Solomon, importers OF 'ooac'"
at No SIS Waters have failed with liabilities Of ABOUT
s35OOOO and assets Of S25000O. Enamel Solomon
and Henry Adler. who compose the firm maze an az
sgnment Yesterday to CuStave Solomon. There are
thirteen first preferred creditors for SCI $685. the largest
heing g. Solomon & Brother $1,000; National BANK OF
Boynton. S1O348; W. A. Abbott $3.50 Julia Berg
linger $4,000. There also eight creditors III the
second class of preferences, the amounts OF whose
claims not mentioned
r. tewinson. one Of the attorneys of the firm. has
prepared statement in which he says that the hrm
assignment was unexpected and was forced by large
number of drafts coming due yesterday which 'hey
we're unable to meet Other causes were sIo"hcSs vi
collections and stagnalOn IN trade, making IL uc"'
ia realize on large and valuable stock on hand An
other important element that led to the hffh HIS
fortune was an unwse investment In the western
toabcco crop of 1884. which turned out badly. The
u,hnltes roughly estimated are aboIt S35O,0O0, OF
which about s225.OOO Is for merchandise The assets
consist of large amount of Havana ana suma'ra To-
bacco and outstanding accounts which VIII realize az
a moderate estimate, $250,OOo
The trm. Mr.. Icwinson's statement says, Is one oil
the oldest I'm the tobacco business having been formed
in 1852 and has always enjoyed the best reputation.
ONLY as late as Friday National bank wrote to II
ASKING for PAPER for discount. NJ. Solomon died IN
1s7G and the firm them in order to avoid hquda'Ioh,
obtained an extension from the creditors ana Ehd'oi
Solomon thereafter alone continued the business unoer
tle firm name A few years ago Mr. Adler entered inc
house 1t is confidently expected that the firm VIII NC
atJe TO speedily secure an honorable settlement, IN
which case Mr.. r. Solomon hopes 10 resume business
A Judgment was entered against the firm yesterday
Gov $40 so7 In favor Of G.. Solomon. The firm has been
large real owner in this city, lis property COST
ing upward Of 100000 and being mOrgagcd Ior about
half that sum. 100 ,,-u,,-
Charles r. Roper & Co, printers at no 49, william
CT we're sold by the Sheriff Yesterday, judgment
having been entered against them for f4l43 In favor
~ l IL konncll a Co. The presses etc, were SOFA
en,'iec to chate mortgages of $1,000. and brought
nnIy eo5O above the mortgages, the purchaser being
=. y 'Wairadt who will continue the business. MI.
iinner valued the plant at 10000 lie has been AT
io,pe sick for some time past lie began business
H"nt 6fteen years ago and was then regarded as
a,i,n ~ tbc Rev. Dr. Morgan Dix having been the
nr,,ui.t az the Church Of the Holy COMMUNION; lie
Va. had several partners and called his establishment
"The Cadmus Press" o, . ,,,,or,sr ~ Iaccs
a, No 6o6 broadway, show liabilities Sloo'o.a con
fincent liabilities s16,O76; nominal assets s'o''@o ;
actual assets SlO,O33 ~ .,o,,onoore ~
The schedules Of Flemmng Co, anctloneers, AZ
No 2G4 West one hundred andfwemy 1ih-sl; snow
liabilities SlOIe3; nominal assets SILL" ac'uAi aSSo's
| $l476. -
The schedules Of p. Hermann Co., grocNrs corner
OF Ninthave aud FftysiNth ST., shn" hap.ii
S72oJ, nominal assets. S4lo0; actual assets S"'-'