The morning call., 1892-06-14
PUSHED TO THE WALL.
A. Greenebaum & Co. in Legal and
Financial Difficulties.
Attachments Levied On the Wholesale Liquor
Firm for $4,000 by q Bank and
a Father-In- Law.

The wholesale liquor firm Of Alfred
Greenebaum d Co. has collapsed. An
elderly Deputy Sheriff now guards the stock
and books of the firm at its late place Of
business, 81 and 50 First street
Saturday afternoon the London, Paris
and American Bank levied an attachment on
the firm for SIS. COO, and when the Deputy
Sheriff was put in charge of the place OF
business yesterday morning a street rumor,
to the effect that the bank had levied an
attachment for $4,000, soon circulated.
a. y. Levy. an insurance man whose
Otfice is at 212 SansOme street, was one Of
the first to hear of the levying Of the attach
meut. as his business relations with
Greenebaum were not OF the most pleasant
nature be lost no time in clapping n attach
menl for $50, 101 on top Of that Of the bank.
These are the only attachments levied as
yet but it is more than likely more will
follow for lesser amounts
AS yesterday was collection day, numer-
Gus collectors wsltZed along First street
swinging bags of money In their hands.
They glided up 10 the door leading to Greene
baum's place Of business, ali expecting 10
have their minds eased and bags made
heavier by the prompt payments Of bills.
When they met the Deputy Sheriff aud were
informed that the place was In his charge,
their cOuntenances changed so rapidly that
one would think they had been oyeTtaken
by Oakland robbers.
WHO THE SUFFERERS ARE.
Besides the losses of the bank and Levy,
the house of James de FremeTy and other
local firms have been pinched for nominal
amounts. while Eastern lQuOT-dealers and
several California vine-growers will suffer
considerably.
Alfred GreeBebaum conducted the bust
ness, and he dealt largely in the California
wines The most important agency that he
conducted was for the wines manufactured
by the L. j. Rose Company Of San Gabriel.
Very little is known concerning the causes
leading up to the attachments, as the bank
officials refuse to talk.
A. \. Levy, as stated above. only filed his
attachment when be heard OF one being
levied by the bank. Levy, who was for
merry boot and shoe merchant Is Greene
baum's father-in-law. To CALL reporter
he stated that during The past few years he
lent his son-in-law various amounts of cash,
in all footing mp $4,000. HE was hard
worker, and that was what deceived NE.
He was not a spendthrift, so l do not know
what caused the crash unless it was bad
debts" He also stated that Greenebaum
and he had not been on good terms for some
time, but would not give the reasons for it.
In speaking Of the affair a prominent
liquor dealer said yesterday that the
Greenebaum firm had not for a long time
been enjoying the prosperity it was credited
with Only a short time ago IL is said
sale houses and asked 10 have an order for
a large bill Of goods filed Suspicion was
aroused, as GreeEebaum had never before
bought any goods from the firm. An inves-
tigation was made into the financial stand
ing of the house, and as IL was reported safe
the firm proceeded 10 fill the order Being
still suspicious the order was cut down con-
sideTaOly, so that firms loss viii be small
AN INTERVIEW WITH GREENEBAUM
Mr.. Greenebaum was seen last night at
his residence, 2l06 Van Ness avenue, and
he said that while il is true that be owes
tie money he is attached for, when his
accounts are examined and a balance IS
made il VIII be found that there is no deficit
20 speak OF and he hopes soon to be able to
resume business should he decide to do so.
1T is simply impossible 10 do wholesale
liquor business to any advantage In this
CITY," said the merchant, unless one IS
very wealthy and can afford to give long
and large credits. II n firm has to borrow
money and pay interest competition with
Eastern houses Is cut OF the question be-
cause the latter do not carry any stock
here and do their business through agents
only.
Besides the freight rates we have to pay
are so eXoTbitant that the Chicago, New
York or Kentucky firms can deliver their
goods to California customers at smaller
figures than we can afford 10 do and still
make more profit.
Several Wholesale merchants who were
visiting Dir. Greenebaum last night when the
reporter called confirmed this statement,
and added that it augnrs badly for the
future of San Franchises trade If an honest,
careful and able business man like Mr..
Greenebaum Is acknowledged to be has TO
60 to the wall even if his financial troubles
are only temporary.
When Mr.. Greenebaum was asked for the
reason OF his father-in-law's apparently
hostile action in attaching him Ire explained
il by saying that Mr. Levy is essentially
business man, and as an investing capital
ist had to look out for his interests after the
bank had taken the initiatory step.
The story current 10 the effect that
Greenebaum's credit had been much inn
paired for some time previous to Saturdays
occurrence is denied by the latter, who en-
phatically states that he never had the
slightest trouble in getting all his orders