The daily critic., 1890-12-06
FINANCIALLY EMBARRASSED.
$ Ifrourtvr -oap Firm Solves ino Du
FJrItv bF Tenrrfnfs afIar.

5 frouttvn -oap Firm Solves ine DIE
Trrity by Eeorgtnts ,tton.
NEw EoEN DC g II, came To l.ght
yesterday that Charlie. s HIGGINS IS
Co.. The extensive SOAP manufacturers
Of Brooklyn, have been financially en-
hauasscl for some time because Of the
iilhin.sq uf ihc money market. and toi
iEc past week they have been unable to
meet iLeir OBLIGATIONS and were com
PEELED to stop payment on thir notes,
and Chat as q w8y out OF the diiilcuy
The fsm hiss been dissolved and new
stock company, To be known as the
Charles S. HIGGINS Company, has beea
organized. iu which several creditors OF
the firm ate members and will take an
active Interest
This news came 90 the surface 20 q
very strange manner. Duting tine sfer-
noon it was rumorcd that Thurier VS.
land 81 Co.. the big wholesale Cr0Gers
OF ibis city. had failed.
The special partner OF the firm. II g..
Thmtcr. was found at bis home last
right When the matter was referred
60 him le said "I have not failed,
cflhgr Individually or as the special
partner Of Thurber, Wylaud s. C1. /
will say this. however, ] am the in
durser on some paper That is due aud
that hgs not been paid yet 7 ci1 pay
every dollar that I am iudorscr on, even
If the parties did not pay q cent on H.
and then have as much money LEFT as,
perhaps, Is good Tor me TO have |
could not pay all OF my Endorsements at
once
"Can youiell me some Of the parties
whose paper you have indorsed and
which you say you may have TO pay 3"
No. sir. Ic8nnoL
rs Il true that You are 3 large in
dOIser of the pnper OF Higgins Is Co...
the soap manufacturers OF Brooklyn,
who are said 20 be temporarily umblr-
rasscd
YES, It is true
Asked for particulars, he continued;
"Hicgius Is CO. have been temporarily
embarrassed for some days, and found
Unnecessary TO stop payment last week
am an indorser ON large amount Of
the FIRMS paper, having been doing
that for several years ] will not say
90 What extent however.
In regard to The cause of the trouble.
Mr.. ThuTbct said For the past uincty
days there was no paper Of any account
that could be negotiated Mr. Higgins
has made some large investments in
realty recently. and his money was
otherwise tied up So that when the pres
tut monetary ightntss came about he
/ found himsclf unable to meet his paDer,
prd was forced 20 stop payment The
company bas made no assignment, and
/ ] do not think that will he necessary.
/ The present firm has been dissolved, aud
/ has been rCCrpanized into a stock com.
panv, and the business will be resumed
/ 10y Niorday OF Tuesday BCxt The new
/ company has already been Incorporated,
/ ard will be known as the Charles =.
/ higgins Company"
Nh Thurher added that Higgins Is
| Co did yearly business amounting 90
nearly 81 .OOO, 900 and that for the past
seven ) eUrs he had earned an average
| profit o. $40 600 per annum. iig hal
| known nv lligaIus fur forty years M /
/ In on that time the firm had never had
nrv other similar embarrassment In
1896 or G., Charles $. Higgins aul his
| brother who were then IN partnership,
/ quaIrcled ard O receiver was appnintgd,
| but 10 money or account WAS Owei,
/ every cent Of the sum was paid.