New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-28
A PUBLISHING HOUSE SUED
CREDITORS AFTER The UNITED SIAlES
BOOK COMPANY
sr,rc0Mp,NIEs OF THE PARENT CONCERN IN
VOLyED-ASSETS SAID TO De MORE THAN
S. coo OOO--A LARGE SUN DUE

VOLyED-AsSETS SAID TO De MORE THAN
s5cooooo-A LARGE SUN DUE
THE TEOw COMPANY.
Several Of the creditors Of the United states
! Book Company, whose Offices are at Nos. ana
! East Sixtccnth-st have become anxious about the
money that is due them, and fearing that others
/ might get ahead of them, have begun l'gai pro-
crcdings against the company in order TO project
their claims The first suit il is said, was
brought by Myers & Anablc, attorneys for the
! Manufacturers National Bank, Of Troy. They
! have not only brought suit against the tni'ed
States Book Company but also against several oter
/ companies which were looked upon as suD'coni'
| panies of the United States Book Company. The
! claims against each of the companies are as Toll
flows: United States Book Company 81 1925, on
notes OF the National Book Company Seaside
/ Publishing Company and tho IIovendon Company:
National Book Company, S3,s4l on its own notes
to the order of the United States Book Company
the IIovcndon Company 1921, on its note to the
order of the United States Book Company and the
Seaside Publishing Company, S3,SG2, on its rote
to the order Of the United States Book Company
These notes went 10 protest. together with many
Others il is said. Other creditors OF the com
pany became anxious when they heard OF TINS
xit, and promptly began actions on their own
account. Lawrence & Buckley attorneys for
the Trow Directory Printing and BookbindinS
Company, have brought the largest suit against
the United States Book Company, the claim
amounting to S2O0,349 for work, labor, mer-
clandisc, etc. The other companies against which
the firm has begun suit are as follows: Seaside
Publishing Company, S?e5ll IIoyendon Company,
S6,sOS; Lowell, Coryell N Co., S12,:3o; Inter-
national Book Company. 1851 National Book
Company, $6,lGs; Empire Publishing Company
S2,2O6.
The Trow Company il the plaintiff in oil
these suits The attorneys said yesterday that
they had merely taken measures TO protect their
client, as another creditor had set the ball roll
ing and they felt hopeful that the United States
Book Company would be able tO arrange matters
speedily, whereby the suits would be settled. As
that company and the various other companies
are foreign corporations, they were liable to be-
attacked at any moment.
Erastus \. Root has the following claims on
which he has brought suit United States Book
Company, S5,637 United States Book Company,
in connection with the Seaside Publishing Com
pany. S6,jo3; Lowell, Coryell & Co., S3,603;
National Book Company, 1881.
Walter J. Carter has brought srit against the
United States Book Company for S5,o22. Bulk
lev, Dunton e Co. have also begun suits against
the United States Book Company for S10,S00.
Mr. Buckley said he had merely followed other
creditors a. soon as he had heard that they had
begun suits. He heard that the United
States Book Company about TO get new CAPT
tai and fresh blood IN 1t, that NJ. Wentworth
TO go in as treasurer, with plenty OF money,
but he did not know now what effect these suits
would have on the matter
Another creditor said that efforts were being
made t. rails. money 10 settle the suits, and he |
felt sure the United States Boo, Company would
Il, DN
SJ.0cO,o00.
The mortgage held by the Manhattan Trust
Company WAS to secure dcbcnturc bonds which |
had been issued 10 the amount of $l,000,0OO The |
nitcd State, Book Company was Incorporated I'M
der New Jersey laws in July, $780, with capital |
stock Of $3.50, 900 Of which S2,00O,000 was pre- |
ferred and Sl2j0,00G common stock besides |
$500. 600 lcbrnture bonds. In January. 1892, tho |
cbcnture bonds. it il said were increased 10
~ ,00O, 900 and the common stock to S2.OOO,0OO.
Tho cash received, it Is said, was used in paying |
III the floating debt Against this capitalization
She assets were placed AZ S5,3j0,o00
The company was formed to manufacture and |
sell books. and bought the publications OF other
companies. The business was originally carried
OH hv John W. Lowell, and he became the vice.
president OF the United States Book Company.
seven other companies, regarded in the trade as
subsidiary companies, were formed 10 market the
publications. OF the parent company These COM
parties were incorporated last March under New
Jersey laws, and, it is said, included the In
ternational Book Company, National Book Com
pany. lloyendon Company. Seaside Publishing
Company. Lowell. Corycll & Co, and others
AZ tho Office OF the United States Book Com
pany Yesterday afternoon. when the reporter
called, it was said That none of the officers
was there, and no Information could De giVcn
about its affairs.