The morning call., 1894-02-15
EMPTY BUNKERS.
The RentOn Coal Company
Retires.
After Eighteen Years It's Extensive
importing, Mining and Dealing
Business Being Wound Up.

1t is only matter OF a few weeks, perhaps
days, until the last vestige of what was once a
leading coal firm of San Francisco VIII have
passed out OF existence. A combination OF
adverse circumstances has gradually driven
the Rem on Company to the wall, and not least
OF these is the reduction of rs cents a ton under
the w ilson tariff bill.
When the business reached such a condition
it could not be continued unless al a loss A. NJ.
Simpson, the lumber merchant and ship-owner,
who was The largest stakeholder in the COM
pany, decided TO wind up its business. meet
Ing of The directors was held and Mr.. Simpson
assumed the company's Indebtedness, and had
It's ccounts properly, bills receivable and con-
tracts transferred 10 him. He also undertook
TO pay all bills against The concern and 10 dis
continue the coal business with all possible dis
patch
E. W. Bushnell, president of the Renton Coal
Company, said yesterday that the discontinue
ance could not be regarded as failure in the
accepted sense OF the word. Said he: "Credi-
tors will receive 100 cents on the dollar. for as
far as our ind, btednesS is conc rned Mr.
Simpson is good for much larger amounts IL it
became necessary 10 call upon him. But the
debts eau be more than met by accounts
though | don't know how Mr.. Simpson will
come out with his own stock in the company.
All other shareholders will get their stock paid
in full.
The business is pretty nearly disposed of
already. The bunkers at Oakland (six Of them
with capacity of abou 400 tons) were sold
to RoseDfeld & Sons. The retail business was
DOuPnG Dy IdHIOr ~ 10, anu our anthracite
contracts were purchased by A. C. Richards.
SO there Is very little left 10 be sold.
"The Rem on Coal Company owns mine at
Reuton, In Washington, about seven miles
from Seattle, which is worth 100000. We
had to close II down five years ago. when on ac-
count OF large wheat crop many ships came
from England to San Fl ancisco with coal 10
stead of ballast After that coal was imported
cheaper than ever, and the increased supply
cut prices so We had 10 shut down. You know
when 81 day has TO be paid for labor 1t is not
possible 10 cOmnete with 3 or 4 shil-
liDgs, perhaps less. Coal on the Pacific
Coast is not quite so good as English, and con-
sequently it did not command the same price,
After all that here comes the Wilson bill
knocking of 70 cents ton and running our
business. l will tell you straight. now. that
the Wilson bill has forced US out OF bGsl-
ness"
The Renton Coal Company Incorporated
with capital STOCK of $500, 900, and began
business In 1876. For many years its business
OF importing Welsh anthracite coal was larger
than all the other cOalbouse> combined
Usually as many a. fifteen 10 twenty ships a
year brought cargoeS to their bnnkers here and
on the Oakland wharf. The company had tho
largest contracts In this city. among them
being that of the Spring Valley Company.
which was recently taken by Macdouough &
Co. The directors were: q. W. Bushnell,
president; ID. ID. Stark. secretary; A Nj. Simp-
son, Z. w. Bushnell, ID. ID. Stark, j. ID. Roche
aud John WhitWorth.