The morning call., 1894-05-13
LADD IS TIED UP.
Eastern Creditors Want
Their Money.
Liquidation Depends Upon Sealing
and Trading Enterprises in
Distant Waters.

Charles D. Ladd of 529 Kearny street,
the fresrm and sporting-goods man. who
has been IN business in San Francisco for
twenty years, is one of the latest reported
| in financial trouble.
His place of business is running, but
some of his goods have been attached, and
are in storage under the control of the
Sheriff.
The first in tim alton had of Ladd's diff
culties was on the Sd of May, when the
Hunter Arms Company. an Eastern firm,
attached Ladd's store for S255 on prom
issory note. On account of Ladd's com
mercial standing nothing was thought of
the small attachment. as he was known to
be interested in number Of large ven-
lures.
The Sheriff took possession of a certain
amount Of goods to cover the attachment,
and they are now in storage.
A number of Eastern creditors repre-
senting various sums presented claims
through the local banks. which were not
paid. Then the true condition OF affairs
came out, that Ladd could not meet his
obligations.
No more alta achments have been filed, as
Ladd's store is not al present overcr0wdej
with stock. A meeting of creditors in San
Francisco was held. and according to the
statement of L. Ladd,- a bro her of Charles,
who is in Alaska, the creditors decided to
store Ladd's goods and hold them until he
returns from his Arctic trip. Another
meeting of the creditors will be held on
next Monday, and some more definite
action will be taken. The creditors repre-
sent $50, 900 in debts.
E. Ladd. the brother of the proprietor of
the store, said yesterday that he expected
Charles Ladd back by July, and that
Ladd's discharge of his obligations would
depend upon his outside ventures. If he
were successful, as usual, he would pay
dollar for dollar; If not. the situation would
be different.
''Mr. Ladd." be said, ''has four vessels
out, three in japan sealing and the others
| in Alaskan wsters. Altogether he employs
on these vessels seventy-ive men. he has
two trading stations in Cooks Inlet. one OF
which is a salmon station. He left some
weeks ago with supplies and thirty men
for these stations.
when he started those men to work he
contemplated returning to his gun busi-
ness. and bringing with him the catch of
the fall and winter seasons. He will either
return by steamer or by one of his vessels.
If the catch justifes loading one. He will
be back by July.
The Eastern firms whose notes became
due, not understanding Ladd's business
and his outside ventures. became fright
enrd when their money was not paid, and
precipltated things. Ladd knew before he
went away of the local stringency, and
made arrangements with his San Fran
cisco creditors TO carry him over until his
return. | think the entire obligations of
Ladd amount to $50, 600. which he will be
able TO meet if he is ordinarily successful" 4"
| Notwithstanding these statements there
| is considerable talk about the possibility
Of Ladd's creditors not getting dollar for
dollar. At the meeting of creditors to be
| he'd on M"nday Ladd's assets and liabili-
| ties will be thoroughly gone over and some
| definite course of action will be deter
mined upon. There are many who be-
lieve that Ladd will come out all right ir
| spite of his present difficulties.