Evening capital. (Annapolis, Md.) 1884-1910, 1889-07-26
A FINANCIAL CRASH.
A Big Dry Goods Firm Fails fOl
-Four Millions.
ASSIGNMENT OF LEWIS sROs. Z co

One Of the Largest Houses In New
York. with Branches Throughout the
Country, Makes = General Assignment
Co CorneIina n. IIlas-Bad Debts Partly
Responsihle-surprise in Philadelphia.
New York, July &C. There was con-
sid bile excitement in the dry goods
district when the report that the big
firm OF Lewis Bros. & Co., of No. so
Worth street. were in serious difficult
ties was found to be true. The firm
made general assignment to Mr.. Cor
neIius N. Eliss.
There was anxiety in business circles
to ascertain the facts as to the embar-
rassment of this firm, supposed to be the
soundest in the city. At the Office of
the firm, however, there was no disposi-
ton to give any information. None Of
the members could be seen.
Comments Of Dry Goods Men.
In tho dry goods trade the failure was
variously commented on, and from such
sources OF information that there were
il would seem that the firm was carry
ing too heavy q stock and was backward
in payments. This, at least, was the
opinion among other dry goods men.
AT Lewis Bros. q Co. this was neither
denied nor confirmed.
The liabilities are placed at 81 ,000, 900.
The books and papers of the firm are
now being examined with view to as
certaining the exact condition OF affairs.
The Members Of the Firm.
The firm Of Lewis Bros. & Co. Is one
II. sra& trkx ~
one of the oldest, and its credit has been
of the highest. It is composed of Wal
ter III. Lewis, Joseph w. Lewis, Henry
Lewis and John L. Boardman. It has
done u large commission business in
print goods, and has represented num-
Der of large Massachusetts, houses. Those
who know the firm are of the opinion
that its embarrassment will be only
temporary. When the news of the. as
signment reached Wall street there was
some little excitement. particularly as
there was no way Of getting at the de-
tails of the matter. This soon subsidized.
Twenty Years i'm the Same Place.
At the agency of j. G.. DUN it was
said that the credit of Lewis Brothers
had up to very recently been of the
highest order. OF late there had been
some rumors to the effect that the firm
was in trouble, and their credit has
sank. MIR. Sheldon, editor of The
Special Report, weekly financial
paper, said of the firm that it was one
of the few in the trade that had for
twenty years done business in the same
place and under the same name. It
was said later that the house had sIf-
fered severely by the failure of the
COhOctOn WoOlen mills.
The Mills Represented.
Among the mills for which the firm
are sole selling agents are the Wam-
sutta mills, Wauregan mills, Grinnell
mills. Slatersvllle mills, Hamlet mills,
State Cotton company, Manville mills,
Forestdale Manufacturing company,
Jewell City mills, Dunnell Manufacture
ing company, Franklin Manufacturing
company, Hartel and & Co., Hartford
Silk Manufacturing company, United
States Bunting company, Shopper Bros,
Richmond Woolen mills. Woodvale
Woolen mills, Chester Woolen mills,
Samuel Bancroft. j. L. Peck, Dexter,
Richards q Son and S. III. Eaes, prin-
cipally New England mills, with several
in Pennsylvania.
The firm has branch houses in Phila-
delphia, Baltimore, Boston and Chicago,
and did business Of several millions q
year.
Only one Of the firm, Mr.. Walker III.
Lewis, is in the city now.
Surprise In Philadelphia.
A dispatch from Philadelphia says:
Surprise was occasi0ned in business cir
cles by the announcement that the firm
of Lewis Bros. a Co., wholesale dry
goods dealers, Chestnut street, above
Second, had made an assignment for the
benefit of their creditors. While the ex-
act amount cannot as yet be ascertained,
it is thought the liabilities Of the firm
will sum up nearly $4,000, ,O0O Mr..
Wharton when seen promptly admitted
the authenticity of the rumor that his
firm had made an assignment for the
benefit of their creditors.