The morning call., 1894-03-09
NOW INSOLVENT.
Failure of a Large Firm
i'm Sacramento.
w. r. STRONG 6 co. Go UNDER
One of the Heaviest of Fruit
Shippers.
w. r. STRONG s. co. Go UNDER
IN DISTRESS FOR OVER A YEAR.
Losses Sustained on Green Fruits
Sent East Lead to Voluntary In
solvenCy After Assignment.

w. R. Strong s. Co. of Sacramento have
gone into voluntary insolvency. This
was one of the largest produce. forward
! ing and commission firms In the State.
| Its troubles began something over two
years ago, and about year ago resulted
in an ass gnment for the benefit of the
creditors. An attempt was made TO pay
100 cents on the dollar and an agreement
was reached by which the creditors were
TO receive what was due in four equal
term installments. payable respectively.
six months. twelve months, eighteen
months and twenty-f0ur months after the
date of the assignment.
The first payment was made. The Sec
ono. when it was due was not. There are
conflicting accounts as TO the reason for
the non-payment of the second INSTALL
ment. One report is that bank in Sacra-
mento, which had agreed to accept the
same terms as the other creditors, took
! advantage of the opportunity. when the
firm had $4,000 to its credit Oh deposit TO
secure itself. In any event attachment
suits were filed and it was thought ad-
visable to seek the recourse Of voluntary
insolvency.
The original Indebtedness of w. r.
Strong 81 Co. when the assignment was
made exceeded 100000. Il has been re-
| duceG. 1t is stated, 10 about S135,000
Commission men in this city speak in the
! highest terms of the honesty or the lem
bers of the firm, Messrs. Strong, Williams
and Platt
''The firm of w. r. Strong g. Co. has
been established for long time, more
than twenty years ! should think" said
| ID. ii. Porter OF the firm OF Porter Bros.
| yesterday.
There is no question but that the fail
/ i. Hha.
the firm have the best of regulations. The
! business was one OF the largest on the
c. asst In addition TO general commission
business w. K. Strong & Co. were heavy
shippers of fruits TO the East aud they
furnished Supplies to a large tributary
region 10 the mountains to the north and
east Oh Sacramento. Their losses we're Oh
green fruits shipped East. These losses
may have been in part due to inatientlOn
to The smaller details OF very heavy Dusl-
ness. think the firm made IN stake in
tryl TO pull through and that it should
have gone into voluntary ins olvency some
time ago. Such course would have given
IL certain advantages and enabled the
members to get on their feet again In a
much shorter lime"
w. Il. Strong IL Co. were largely inter
! ested I'D the Acampo ranch on Feather
| River. This ranch Las about 600 acres IN
fruit trees, mostly Bartlett pears and
| peaches. After The p.nch came Strong u
Co. formed combiD alton to control the
ranch, and turned over shares of stock to
] their various creditors, which In large part
CON lituted the first payment after the as
sIgnment of a year ago. Then an attem pt
was made 10 conduct the business of the
/ firm as before, but matters became more
aud more involved until the company was
forced 10 seek refuge in involuntary in
| SOlyeucy.
p. E. Plat. one of the partners and the
general manager of w. L. Strong IL Co.,
III abe statement by telephone irum Sac
TamentO yesterday in which he declared
til al the indebtedness of the company had
been reduced to S135, 600. Several bjects
| were up for consideration, and some n0al
| act on would be taken shortly he said.
| 1t is reported now that the company de-
sIreS TO effect compromise with its cred
tOrs by paying 20 per cent OF its indie bted-
ness, though This rumOr is moi confirmed
by Mr.. Plat.
As MIR. Plat has engaged in a working
partnership with Judson. the commission
man of this city, making his headquarters
in Los Angeles, 1t would seem as If some
doubt existed as TO the ultimate resum D.
ton Of business on the part of w. T.
| Strong ~ IN