The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-03-14
states. By their prompt action attach
ments were forestalled, and the assets
will be shared among

states. By their prompt action attach
ments were forestalled, and the assets
will be shared among
All the Creditors
alike, without regard to preference. Mr..
Atkinson estimates the assets at So, ,000,-
/ 900, but this is consonsidered rather
large.
Mr.. Libby took charge of the business
in this city yesterday. The first work
| of the assignees will be an inventory of
the assets, after which the creditors will
be called together. 1t is too early yet to
obtain any idea of percentage to be
shared by the creditors, or what ar
rangements may be made to continue the
business.
The assignment is much deplored in
business circles in this city. The store
employs from IS to 115 hands, and be-
sides that has given an increased busi-
ness to many furniture manufacturing
| establishments in the city. Mr.. Atkin-
son has also been very active outside of
his own company. He has assigned his
| personal estate, which he represents to
| be worth about a quarter of a million,
but it is not known that so far any
| other business enterprises are involved
Mr.. Atkinson has been leading fac
| tor in the Giant Electric Motor Compa-
| ny, which has Of late been doing a large
business, and it is believedIthat he still
| has his interest there.
He is also an owner in the new Plush
| Mill; but the managers of that enter
prise state that the failure will not have
any effect whatever upon them. A meet
| ing of the board of directors was held
| yesterday to authorize the issuing of
bonds to the amount of $4,000 to raise
the required working capital. Mr.. Ack-
royd said that the prospects of the mill
| were excellent
In Boston, yesterday afternoon, Byron
A. Atkinson assigned, Hon. John D.
Long being named as assignee.
To reporter in Boston yesterday,
MIR. Isaac G. Atkinson
| talked quite freely of his failure.
s'Haye you arrived at any basis of set
tlement?"
mot as yet, but consider the assets
sufficient to satisfy every creditor, and,
after the adjustment has been made, I
hope that the business will be allowed to
go on without interruption. 1t is capa-
BILE of making S150,0O0 year, and am
sanguine that if proper degree of lem
| lency is shown me. there will not be a
dollar of loss to any one holding claims
| against the company
7ssIs it possible, Mr.. Atkinson, to give a
detailed list of the creditors and those
who owe the firm money! inquired the
reporter.
ssNo," replied that gentleman. ''It
would involve vast amount of work and
| time.o
/ 1.-The public at large have a right to
know, and they can readily perceive at a
glance that it is our intention and desire
| to turn over every dollar of our assets to
our creditors by the names of the two
gentlemen whom have selected as as
signees.
Zone of them is we'll known through
out the State of Maine and the other is
as widely known in Massachusetts.
| sit is astonishing how many people are
unaware of our trouble. Here is tele-
| gram from the president of a Philadel-
phia bank. He is as yet unaware of our
assignment, for this is a notice that my
check has beenN protested and we owe
them $4,000.
! Eyes, every dollar will be paid and the
business will continue, for you might as
we'll endeavor to stop Niagara Falls as to
| discontinue such q trade as mine.
| Said Mr.. Atkinson, in response to the
| reporters inquiry as to what reason he
assigned the cause of his troubles: Il
lay it all to the tightness of the money
market. AS long as the present fuctua-
tions continue there is every reason to
think these things will happen.
"Why, on Saturday offered $75, 900 of
good securable real estate for a loan
of $4,000 and first class secur-
! ity to the extent of $4,000 for loan of
$4,000 more, but could not place a dol
| lar.
s;The money could not be raised, such
was the tightness of the market.
'sIf do say it the paper we got out
| was as good as any on the Market" said
Mr.. Atkinson proudly, as the reporter
bade him good bye.
The Boston hrm OF AtklnSOnS was Or
ganized by
Byron A. Atkinson,
and its founder, during his 3S years, has
had very busy life. He was born in
Sackville, N. B., in September. 1864, and
went to the school at Mt. Allison Wes-
leyan Academy. He lett school when
only IL years old to go to sea, and re-
| manned before the mast until he was 10
years of age. In choosing the sea as his
first venture, he only followed his father
who commanded some of the finest YES
sells sailing out of London and Liver
pool He was especially engaged IN the
South American and Australian trade.
During his 35 years as shipmaster he vis-
tied nearly every port on the glote, but
never lost a man by sickness or oraccident,
nor ship nor spar.
The son, B. A. Atkinson, left the sea
attic, and coming to. Boston worked two
years and half in a machine shop in
South Boston. From the machine shop
the transition was easy to the work of
repairing furniture, and to this he soon