New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-12
DRY-GOODS MERCHANTS FAIL.
THE OLD HOUSE OF FRANCIS BAKER ASSIGNS
OTHER TROUBLES.

THE OLD HOUSE OF FRANCIS BAKER ASSIGNS
OTHER TROUBLES.
The dry-goods trade had a surprise yesterday when
the failure of Francis Baker Co.. dry goods commits
sion merchants at No. 90 Thomas-st., was announced
The failure totally unexpected and the trade could
hardly believe it, ii known that the firm seldom
made any notes or used their credit and did strictly
commission business.
The members of the firm, Francis Baker and his son.
Wendell Baker, made general assignment without
preference to Welcome S jarvis lawyer Of No. so
Wall-st Francis Baker, the senior partner and CAPT
tast Of the firm, been in business since 1861 and
alone until July L. 1853. when he admitted William
T. West to an interest. Mr.. West retired January
!, 1882 when young Wendell Baker admitted into
the partnership. The latter is the famous Harvard
College runner. The senior partner has always en-
ioyed good credit in the trade, and his personal charac
ter was excellent For many years he selling
agent In this city for the Fruit of the Loom brand OF
muslin, and reputed to have made great deal Of
money on the account few years ago he considered
himself worth $3.50, 900, and asked no favors Of
any description. The firm handled white cotton goods.
principally sheengs and shirt musns, all domestic.
They had good accounts the principal being
the Harris Manufacturing Company, Valley Falls Com
pany and the Rhode Island Bleach and Dye Works. all
of Providence, r. l., and the Ballou Mills of Norwich.
Conn.
Mr.. Jarvis, the assignee, said yesterday that at
present he could give only approximate idea OF the
S25OOOO. and there probably deficiency of assets
of about 100000. The books in good condition.
and he expected to have statement ready in few
days. The Of the failure was lack OF funds
The business had been gradually decreasing trade was
dull, prices low and the margin of profit small. The
business had been running behind 1t appears for years.
but the senior Mr. Baker did not realize his position
until recently. He had been putting money in the busi-
ness which he obtained from outside sources, and he
could still have obtained outside assistance, but 1t was
thought that it would not lie fair TO his friends and 1t
decided to stop at once. Mr. Jarvis Gould not say
how the accounts with the various mills STOOD but the
firm did not do a guarantee business.
Charles Fool Beckwith broker in oils and barrels at
No. 153 Maiden Lane. made assignment yesterday to
Joseph A. Berger The business established thirty
years ago by his father. b. S. Bcckwth, who died In
November, 1882. the son succeeding him.
Deputy Sheriff Murphy has taken possession Of the
Franklin Paper Bag Company, carried on by Messrs
Thomas Robertson, Samuel II. Hughes and Henry +.
HoIlsberg who have confessed judgments aggregatng
81, 800. They started about six months ago.
Judgment for S95 594 yesterday entered against
the Knckerbocker Brewing Company in favor Of Henry
W. Poor.
Morris Esberg has been appointed receiver for Lauro
witt. Klenfed d Landau, cornce makers at NO. 90
Forsythst., the application Of Beyann sci, )udg-
ment creditor.