The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-03-14
THE ATKINSON FAILURE.
Continued from First Page.

the founder OF the concern is supeiln-
tendent of the Shawmut Furnishing
Store, corner of Pleasant street and
Shawmut avenue, Boston, To report
er yesterday morning, Mr.. Atkinson said
that he was simply there as a keeper
and could give no real information con
corning the business of the company
and relative to the assignment. He was
not an officer in the corporation himself.
He thought, however, that the estimate
of the liabilities was exaggt rated.
He said that his brother, B. A. Atkin-
son. had no other connection with the
concern except that of heavy stock
holder. He was not an officer. He had
been solicited to become director, put
had declined. The amount OF MI. At
kinsou's stock holdings the speaker
could not say.
s'All the liabilities of B. A. Atkinson
& Go. have been transferred to the At-s
kinson House Furnishing Company.
s'Customers of the concern who hold
contracts engaging them to pay for goods
purchased by regular installments, have
nothing to fear" said Mr.. Atkinson.
"They will be amply protected"
Mr.. j.. j. Bird Talks.
Mr.. Lewis j. Bird, the well known
Boston auctioneer, is a stakeholder in
the Atkinson Company, and talked about
the failure to a reporter Yesterday morn
ing in his Bromfield street Office.
lit is too bad" he said. ''They are
good fellows and did good business.
Nothing but the tightness of the money
market is responsible. Mr.. B. A. Atkin-
son is one of the squarest men who
walks tho streets OF Boston. A little
! gruff in his manners may be at times, put
a good thorough going business man.
| 1sIf the stockholders had only known
| that there was trouble in, time they
| would gladly have contributed money
enough to meet the loans which caused
| the break But it occurred SO quickly
| that there was no time.
| 81 hope that they will start up in busi-
| ness again as soon as affairs are ADJUST
| ed.,' continued Mr.. Bird in answer to
| question of the reporter. "They have
| plenty of business and the business is
profitable one. They sell a great deal OF
goods on very long time, but it would
surprise you to know how few OF those
are worthless. Only small percentage
| of customers fail to keep their obllga-
| lions. I think that most of the stock
holders would be willing to take hold
and start the thing again; know that |
| would myself.
| Il, d. H.
nal house. and the Portland store was
| branch, with his cousin, Isaac G. Atkin-
| son, as superintendent. Isaac G. was a
| hustler. and he developed the Portland
| and State of Maine business to such an
| extent that they made stock company
| of it. Then it was independent OF the
Boston store. But the two were inti-
mately connected in their business at
| fairs. buying and selling and filling or
| ders for one another. A year ago, it was
proposed to admit the Boston store into
the corporation, but it was impractical
BILE then. It was accomplished last
month.
'sMr. B. A. Atkinson was director in
I the Portland corporation and was pro-
posed for dictatorship in the new con-
Germ when it was organized last month,
| but declined. His holdings amount to
about 5000, 900. Mr.. Converse, the ASST
gnee, is also heavy stoekholder."
mo sir, the business of the concern
| has always been straight 1t was this
/ tightness of money that tripped them
up"
Messrs. BENJAMIN S. NJ. Tower and
Edmund Fl. Talbot, located in the Sim
mons Building on Water street, have
been retained as counsel for the assignees
of the Atkinson House Furnishing Co.,
and have issued the following state
ment:
towing to the stringency of the money
market the Atkinson House Furnishing
/ Company has been obliged to suspend,
and on Saturday, March II, 1898, made
an assignment for the benefit of its credi-
tors to Hon. Charles T. Libby of Port
land and Costello G. Converse of Boston,
who are represented in Boston by their
counsel, Messrs. Ball & Tower"
1t is understood that the assignment
has already been assented to by creditors
representing indebtedness to very large
amount.
1.-THE Atkinson House Furnishing Com
PAW is Maine corporation, and has
been doing very large business with
various branches, its headquarters being
at Portland.
s0The assignees have already taken
prompt measures to preserve the proper
tv .intact for the creditors, and have
| taken possession of the assets in several
states. and as soon as the necessary state
ments can be prepared the creditors will
doubtless be called together.
ssMr. Libby is a prominent Portland
lawyer, and is well known as counsel for
MANY banks and leading financial institu-
tons. and Mr.. Converse is equally well
known as gentleman of business ex-
perience and ability"
To reporter Mr.. Talbot said that a
statement was now iii press, and just so
soon as the lists of creditors could be as
certained and forwarded from the differ
emit towns and cities where the firm did
business this statement would be mailed
to them. A meeting of the creditors
Il hi h,1f 1at
for ten Gays or two weeks yet, as it will
take that length of time for the assignees
to find out just exactly the condition Of
the concern.
| In the Same Chair.
| In the years Of his highest reputation
| ~,,oc 4a,,o,,aS xzy;%l, IA