Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-27
SPECIAL TELEGRAM TO THE p1srArcH.l


PHILADELPHIA July 26.-All the men,
bers of the firm of Lewis Bros. & Co., ex-
cept Joseph W. Lewir, who is i'll, were at
the Chestnut street store to-day, busily en-
gagged in going over their accounts. The
force of clerks that were put upon the books
yesterday morning were still at their labors
to-day, and hope to have a statement ready
for Mr.. Bliss early next week. A stream
of friendly visitors continued to pour in
upon the embarrassed firm, and letters full
of sympathy came from all parts OF the
country. Henry Lewis received telegram
this morning from Postmaster General
Wanamaker, expressing his unbroken con-
fdence in the integrity of the house, and
similar word was also sent by D. Holiday
&Co.. of Baltimore, one ofthe firms best Gus
toners. A leading Pittsburg manufacturer,
who was among the callers, informed the
members OF the firm that he was prepared
at once to fill any order that the house may
send to him. Speaking of the failure,
President Cummins, of the Girard Bank,
said this evening:
"I have every hope that Lewis Bros. g.
Co. will be able to pull through and get in
they will come through all right. They
were fortunate in getting Cornelius n. Bliss
for the assignee. He is a man of means and
brains, and this is a favorable thing for
them"
SOME RUMoRS DISPOSED OF.
William II. Newbolds, Son & Co. denied
having any of the Lewis paper, and said
that, while they knew in what banks it was
Ill Yhorv of eriu ha
of the banks, however, held very much and
would not be affected by the failure. 1t
was stated this morning that Assignee Bliss
had directed Lewis Bros. & Co. to disccn-
tinue business for the present, but Henry
Lewis, of the firm, pronounced this
absurd when asked about it. He
said that the bouse was open for business as
usual, and that it was the duty of the
assignee to continue it. Mr.. Lewis had no
statement to make beyond the fact that they
would have nothing to give the public ex-
cept through the assignee, and that Mr..
Bliss would publish full statement as soon
as he could prepare it Another commits
sion firm said that the Lewis house could
not be shut up without great loss. Con-
signments were still being received each
day. and orders were coming in. These
must be filled and the usual collections
must be made. An assignee would be
very neglecClul. OF MS Quly II ne WOulu
order business like this discontinued.
A New York dispatch says: The clerks
of the suspended firm of Lewis Bros. & Co.
were busy to-day, making an entry of the
assets. The partners of the firm refused to
talk until a statement had been prepared.
Assignee Bliss spent some time with the
firm. The firm think the assets will be
sufficient to pay the creditors, but business
men think that unless speedy settlement
is obtained the assets will not be more than
half the liabilities. Litigation is apt to
follow, despite the high reputation of the
firm. Some creditors will grab everything
while those who are inclined to be friendly
will fare badly. If, however, the creditors,
by concerted action, can
PUT THE FIRM ON ITS FEET
again, bv a speedy settlement good re-
suits NAV follow. If "a settlement was made
some time next month the fall trade might
revive the firm again, but if made any later
the outlook is poor. 1t is not known where
the administration will be made. The main
house being in Philadelphia the admin
istration of the estate and the payments Of
the dividends may take place there, but the
bulk of the litigation, if there will be any,
will be in New York. The stock of goods
are in five different jurisdictions-New
York, Pennsylvania, Massachusetts,, Mary
land and Illinois. The open accounts,
amounting to 81, ,S75, 900, are scattered all
over the country.
The banks who hold the firms paper be-
lieve they will not suffer much. as it is
mainly drafts, accepted by Lewis Bros g.
Co. The owners of some of the mills which
the firm represented have telegraphed that
they are all right. Some of the weak millsmay
be affected, however. The amount of the
firms paper held here is upward of 81 1,000.-
900. The largest amount held by one bank
is 100000
A dispatch from Providence. R. l., says:
1t is now believed that The indebtedness OF
Lewis Bros & Co. to concerns in this city
will amount to fully 81, 900, 900, but all the
firms deny that they will be compelled to
assign.