New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-10
TRYING 10 CARRY roo MUCH COFFEE.
AN IMPORTING FIRM FAILS TO DISPOSE OF ITS BIG

LOAD-OTHER ASSIGNMENTS.
Mayer Brothers & Co.. importers Of coffee and COM
mission merchants at No. 80 Wast, suspended yester-
day and the members Of the firm. Carl and Simon Mayer
made general assignment late in the afternoon without
preference Louis Adler Of the law firm Of Hoadly,
Lauterbach & johnson. The assignment was not filed
until after the Coffee Exchange had closed and 1t was not
generally known In trade circles The failure is said to be
the result Of decline in coffee of which they
carrying heavy load and the failure OF customers to
good their differences. The firm hope that their EN-
will be only temporary and that they will be
able make favorable settlement and resume business
The firm many years occupied prominent position in
According Bradstreers reports the
business established in 1872, at which time the
Deutsche Handesgcselschaf Of Frankfort Germany was
special partner FOR $3.50 900 and the Georuder Susbach
specials for $4,000. The Arm then the American
agent for the Frankfort coffee syndicate In January
1881 Henry D. Babcock appointed receiver for the
firm Of Mayer Brothers Co.. dissolve the partnership
on account Of and coffee The specials with
drew Carl Simon Mayer received full release from
the specials and formed the present firm who started
$50 900 OF their capital They did general eX-
Dor. and import business gradually prospered and extended
their operations They imported Coffee spices gambler
and tin as commission merchants and exported petroleum
on order In February 1886 they tried the experiment
OF roasting coffee gave 1t after years trial Last
August partner claimed that the firm was worth
500 OOO and month he stated that their wealth was
unmpalred that they acting strictly upon order,
and not on their own account that the Java coffee they
held they expected to of into consumption without
loss that their trading the Exchange was principally
for European and covered by margin and that their
liabilities moderate.
Louis Adler the assignee said yesterday that the assign
ent was he had been able to learn the
extent OF the Liabilities the value OF the assets. The
assignment was caused by heavy shnkage in coffee and
large sustained by the firm through customers out OF
town. who did not good their differences The firm
carried heavy load OF coffee which there had been
decline in the past of six cents pound or about
Sc 900 thousand bags and many parties had laid down
on them He thought the suspension would be only tenn
norary and that they would be able make satisfactory
settlement as their creditors friendly toward the firm
Their Liabilities principally TO the banks and large
coffee houses The did 70 have their large
holdings OF coffee sacrificed by forcing 1t the market
in its unsettled state and those who had advanced money
on it would be able carry for better market The
firm have no liabilities the Coffee Exchange as all their
contracts closed out there before the assignment
was The 1rm also members OF the Cotton LIZ
change but did have any dealings there.
Gustave Ranger, cotton merchant and banker, Of No.
so Wallst Of Galveston whose financial embarrass-
nent was reported month made an assignment yes
terdsy without preference to Abraham b. DeFrece HIS
liabilities, It Is said will not exceed slooooo large part
OF which is notes.
George Cook OF No. 10 West Twenty NTH st., made
an assignment yesterday to B. Davis Wsshbura. Mr.
Cook, said, the manager Of tho Carlton Club and
the Lenox Club, which succeeded It,
An granted by Justice Lawrence Of the
Supreme yesterday against the property Of the Mystic
River Company Boston, the suit Of j. Gait Smith
Co., on claim for SO 800 rs on prOmissory notes.