The morning call., 1891-09-08
FLAVIN'S PROPOSAL.
He Will Transfer All His Prop.
erty to Trustee.
The Market-Street Merchant Makes State
ment of His Affairs-He VIII Pay
Dollar for Dollar.

The creditors of NJ. J. Flavin were in
vited to meet last night in Parlor A of the
Palace Hotel. and about twenty-five gentle
men, representing claims aggregating $4,000,
responded to the Invitation. w. Cohen pre-
sided, and A. P. Lee acted as Secretary.
Mr.. Flavin volunteered statement of
his affairs, prefacing his remarks by saying
that he had been absent from the city
three months, returning in ill-health six
days ago. During the past five months in
nuendoes had been industriously circulated,
which had damaged his credit in this city,
in the East and in the foreign market
:" l have occupied my present business
premises during the past five years." con-
tinued Mr.. Flavin. land my lease has vet
seventeen months to run. l have paid a
monthly rental OF $500, invariably in ad-
vance. usually remitting the amount about
the 8th of each month to the man from
whom l rented the stOre-a Mr.. Green of
London. During my absence. and entirely
without my knowledge. the property seems
to have been transferred to E. j. Baldwin.
The first / heard of the transfer was no.
LITIGATION on the I'd inst to pay Baldwin
$500 or submit to an attachment No mott
hcation of the sale was made nor any bill
for rent presented.
Inc his ShEblI.
''Some persons, by malcIously misrepre-
senting my financial condition, induced a
number of Board of Trade creditor to levy
a combination attachment of S12 600, and
the Sather Banking Company. which had
lent me So, 800 without security, at one
days sight, followed the example of these
other creditors. My propositions for set
Element, based upon 100 cents on the dollar,
were no / accepted. bur instead, the commit
tee of the Board of Trade wished to impose
obligations upon my lndorserS, to which l
could never consent. After twenty-one
years of upright and honest dealing, during
which my Integrity and my credit have
never been questioned, my store is closed
up, and l am forced to relinQulsh the keys
and possession.
During my absence the obstruction to
the sidewalk near my premises occasiOned
by the construction of the D0nahue Build
ing injured my business 10 the amount of
S35,0OO. San Francisco merchants have not
been coming money duriGg the past year,
but | am able to pay 300 cents for every dol
lar | owe. My merchandise alone is easily
worth Sl50000 and my liabilities aggregate
only $4,000. Expenses amounting to S45
are being incurred at my store daily, and all
| ask is that you give me bark my keys and
allow me 70 resume business. l ask for no
compromise and will settle 100 cents for
every dollar of my liabilities. | now offer to
transfer all my property TO 5. M. RunyOD,
without exacting bonds, for the benefit OF
my creditors, provided the attachments are
raised and that l am allowed to resume
business operations"
REFERRED TO A COMMITTEE.
The gentlemen present expressed their
confidence in a friendlineSs for Mr.. Flavin,
but as none of the attaching creditors were
present. his offer could neither be accepted
nor rejected.
After some discussion it was finally agreed
that Mr.. Flagin should name three creditors
not members of the Board of Trade, who
should lay MS proposition before the organ
zation tomorrow morning, and Mr.. Flavin
suggested for this duty B. +. Sterett, +. A.
Berlin and Joseph Naphthaly.
If the Board of Trade accepts Mr.. Flavin's
proposition. releases the attachment and
stays the bankruptcy proceedings which it
has threatened to institute, the other cred
itors will undoubtedly take similar action,
and it seems probable that Mr.. Elavin will
be enabled to continue his commercial ope-
ratiOns in few days.