The morning call., 1893-06-17
CREDITORS SWOOP
Cigar Manufacturer Offer
Goes Under.
A BATTEPY-STPEET FAILURE
The Debtor Owes SO, ,000-he Could
Not Collect, and Has Been
Attached.
A BATTERY-STREET FAILURE

tlzTIss RESr, W1DlS6Eie IpDaeeo ElSl-
chant, doing business q as Battery street,
was attached yesterday fo- s2o. 80 - L &
sut brought By Thomas L Rygn. the
attorney, who as assignee. represented L
Dum Der o. Nj Offers crediiors
The event caused qults Z sensation i
business eircleS. which was intensified
.aie. II tbs afternoon ~ TIC discovery
that hi Ofsr'g Liabilities Euoun Led e
ever s7D,008, Of which AZ least So, 600 was
Que e LEGAL merchants 4 second z.tset,-
menf was levied by Mr.. Rvsn CT house
OF Culon stre=L owned by III. QEe-.
yalnsd q $500 VIII E mortgage uDD1 i
for Szg90.
TIE creditors who assigned 70 Gr. Ryan
were 4 EUsznshine L 5ros., gouds sold.
Sz163 \. 6srs9n & Co., goods sol5
sZl6s g, promlssory ucts $500; SidetnGn.
Lscbman & Co.. goods sold. s2S5z .:
LsoerE. BaeamEH d Co, Ey5ds selc. S5SI
. fuas beh0eDfslQ- goods sud SSz56 -
p-oulssoIy Deie $500: Conrad L Gold
oe-g- goods std. SLIGO
lie Bark of California is sufferer 20
tie extent q $500 br the eollapse and ne
pressure q tbis Institution opon NJ Offer
. make guoc lis oFeroTasu acconDs forced
alm . lie wall As soon az II became
KnoEH TIA. Deputy Sheriff Z. d. Levy Lad
Dut tie iceEs on DFer's warehouse Z NM
Del Ct MS oiEer creditors came 70 the front
Among :5ese was Z. L Brandt, who hsld
flSlD Iof $500 assigned &c LIN pv
Laeoss 5ros d Co 4 number Of Chinese
eigzr Manufacturers with BON M Offer
q az exseDdsc business were hIi hard
bess people ran about IL cppsldsra lfe z
alarm, lDqulfiDg fTcm the white merchants
Low they were % secure relief. A. soga
as x was possible 70 ascertain the extent
Il ms ~ E=ra9-
ana tie SUES Que them are as follows
kanilreZ q Co. S3I5z 70: Oriental Box
fsciery. Sl2i6 O. Ceres 4 ow & c.
Sl1J 80; OTo Emo Company, Sz550 = :
Emgire Company, S356 Is
The names q the Eastern creditors of
Mr. O1er we're not 0iYuiged, and Lawyer
~ al WHO Is mem Der q tie 1Tm O.
Es.nstei1 q ElsDer, declined 70 give any
information regarding the matter OF the
ground that some further proceedings were
70 0e had. and that 70 take the public into
his confidence at IBIS time might leopard
Tie Interests Of the erecitcrs Ee sug-
gesie1 tuat = was posi- ble thsy might lnd
more property Of the debtor 70 attach.
Ar. Oder was seen z, his residence. 1913
Post street. lie appeared considerably
worried He was iyIDg OF his back Z VIC
tim % ium bago. He SAID that he attrIbu-
teo all his b0aneial revsrses 70 the simple
l2ct mat De was unable 70 collect TuODey
due 70 him By dealers in the interior, with
whom be transacted the larger rortion Of
his business. This. cOu pied with the ex-
cseCiBgly close com petition u the cigar
trade and the prevailing 5tringency ia the
money market, had made il in possible for
Dim - respond TO TIE demand of the Bank
Of California for him - make good his ac
count with them.
/ Unfortunately for him, he said, he was
N Oregon o. May @ last. wben Z letter
Was received at his Of G 10 tbis city from
tie note teller requesting him TO call al
once OF Cashier Brown. The letter was
forwarded 10 him and he returned as soon
as be could, but the bank ofjc ais when be
met them seemed to be offended al his ap-
parent GllaioriDess and pressed MIN foE az
immediate settlement He was una bic.
however. 10 comply with their derna nd and
thus went under. lie was satisfied that
Il granted time 20 settle his affairs be
would De able 10 pay 100 cents ou The dol
lar he had been 10 the cigar uanufae-
turing trade in this city fer nearly twenty
year,, had handled thousands OF dollars
and duriDg thst time be had met every
financial obligation. BE bad family con
sisting Of a wife and seven children and
be thought ii very hard after bis years Of
industry 70 see everything swept out Of
siglt IN one day.
Much sympathy was expressed with Mr.
Offer oy some Of the merchants on Battery
street, who bad known him for many
years as very reliable business man.
Otners, however, among his creditors
talked sateastica!ly about his failure, at
tributiDg i to a too close attention 10
business"
Cashier Brown Of the Bank Of California
said that on June - Mr. Offer fled a
homestead declaration on hi: residence al
Job Post street and THIS action, he BE-
iIeyed, had precipitated the movement
which eliminated yesterday Ia his cred
itors closing bin out.
ID. Freidenrch, who is Mr.. Offers at
.oTney, stated tnnt be had every reason 70
believe that when an inventory was taken
of Dir. Offers assets IL would be found
that tie situation was not nearly as bad as
.ome 81 his creditors supposed IL 10 be-
de thought that he would make an excel
lent showing and that be would be able 10
discharge all Of his obligations IL proper
consideration were shown TO him. These
were 10 the times 70 force business men
too severely when IL was almost impossi-
Die 70 collect money from merchants In
the interior.