West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1888-05-17
Big Assignment.

The assignment OF tho old established cor
mission house OF William T. Coleman a CO.,
OF San Francisco and Now York, has caused
n big sensation. IL Is one OF the oldest houses
on the Pacific coast aud was considered be.
yond suspicion Of peril. At half-past four
o'clock Monday afternoon the firm made an
assignment for the benefit OF creditors TO l..
L. Baker and Louis Slosg.
The firm consists OF William r. Coleman.
who came 10 California i'm 1919, aud from
then TO now has been prominent in business
circles, and Frank johnson, well knowh
voting merchant. Mr.. Coleman organized the
first vigilance committee in San Francisco and
I'm lSH when the kearney riots occurred b.
organized the Committee Of safety lie hpa
lovely home In San Rnfnal which town he
has doomed enormously H. was considered
the most enterpr.sing merchant ON the coast,
had the biggest salmon canning trade and
did everything 20 develop the fruit indus
tries
Mr.. Coleman's partner, Frank johnson, rs
n brilliant young fn1ncer. who grew up In
the Coleman firm and was taken into plrt-
nership on account Of his ability.
During the past five years the firm has
tried 20 control The trade iu dried fruit. nuts
salmon and boraN MIR, Coleman retired
from the active management several years
Frank johnson, who INDUCED ia all sorts
Of speculation. Last year johnson lost
heavily in salmon and fruit, his
losses in attempting to corner the salmon
market being placed at a.. 900 900. Tho borax
speculation was n good one 10 the firm had
bad larger capital, but everything put in was
dead money, and when they triod ~ r0nlizo
they failed. The finishing blow was given ~
tho firm by the Nevada Bank. which held a
cal loan for o large amount
he liabilities Of tho firm have been stated
as being 5000 900. They include an in.
debtedness 20 the Bank OF California amount.
ing ~ $3.50. 90 Of which 10000 In secured.
10 Is estimated that the firm owes the
Pnnk N British Columbia 500 01J.
Nevada Bank. t25O,OOJ. and Bank of British
North America. 100000. 10 is stated that OF
the whole amount of Coleman ~ Go IS in
dobtCdness one half IA in California and the
other half s in The Fast, the greater part OF
tho latter being held by Ncw England bdnka.
Tho house has agencies boz Astoria, OREGON.
Now York, Chicago and London. 10 also
acts ne The AGENT for large number of fn ana.
featuring establishments and for the prin
cipni salmon cnnnerio4 ~ the Pacific co1st.
The shipping department is agent for several
lines oi clippers TO and from Austria .a Cnina
and other ports Tho bua ncss Of Doe firm is
said to amount to Sl4.O0O OJO rer year
- ---s-e s-.---
The IN dish chemists now say that
they have q scovcrod in nuoriDo o uni-
vcrsal solvent j combines with all the
metals. In uniting with sodium, po as
sium, calcium, magnesium, and illnm n-
ium. the metals become heated even 10
fedncss by the fever Of BIS embrace.
rou-Glings. slightly warmed, burst into
brilliant scintlllatio1s when exposed 10
%: magancso does tho same. Even The
roble metals. which even at melting
heat proudly resist tho destinations Of
oxygen accum5 20 this chemical siren
10 moderate temperatures Gloss IS de
voured at once, and water ccasos to be
water y contact with this gas, which,
combining with its hydrogen, at the
anne moment forms the acrid glass dis
.olgiuQ hvdronnoric sc.d and ligcTaie'
ozone.