Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-04-19
MARK TWAIN FAILS.
That Is 10 Say, His Publishing
House Assigns.
THE FAILURE A SURPRISE.
II Ia Duo To the Non-Receipt of Money
Confidently Expectcd-History
OF the Firm.

NEW YORK, April 1S-The assignment
OF Samuel l.. Clemens, Mark Twain
and his partner, Frederick j. Hall. VINO
compose the firm OF Charles l.. Webster
&c Co.. book publishers, at o. flith ave-
nue.. was filed I'm the County Clerks oIice
today. just ut the close of business. Inc
assignee IS cambridge Colby, Of No. ~
Wall street. with Stern x Rushmore as
attorneys. The assignment was without
preference. and the decd was signed by
Mr.. Clemens in this city.
The assignment was complete sur
prise. and Is stated TO be on account OF
failure 10 obtain money confidently eX-
pected.
Braastreet's reports state that the busl-
moss under the firm name Of Charles l..
Webster & GO. was started on May l.
lSsi By Charles l.. Webster and MS VIE
uncls Samuel l.. Clemens. The firm start
ID in TO publish the works OF MARK
Twain" but afterwards added the WORKS
Of other authors principally subscription
hooks They also handled miscellaneous
books. The financial strength OF the III III
was conferred In Mr.. Clemens, WHO was
suppOsad 10 be- worth several NUM- -,
thousand dollars Mr.. webster wilma. "
from tho firm in 1855. and died on April -
1891. Frederick !. Hall succeeded ny
Webster in the firm on the latter WIN
dra wal in 1858. and has since continued az
the active manager II the firm business
Resides MARK Twain's" works the hrhi
published memoirs ~ General Grant 4
life OF Pope leo. and other books. III
1891 the firm began the publication OF III
Library of American Literature. Ih"y
subsequently sold this part OF the estap'
llshment Il Is stated that the hrin alse
sold part OF their subscrptioh-po1"
business. They continued To have a SUD
scription branch but were making trai'
book, the feature OF their business.
ASSETS.
Their resources I'm business amount q
$4,000 t. $2nr0) above any debts. MT
Clemens is worth from 100000 10 $fv'oVI
| outside OF his investment in the irm
Mr.. Hall to-day said: THE assignment
was very sudden. and unexpected. We
had exuected 10 get money from certain
sources. which we had counted upon "a
meet certain maturing OBLIGATIONS. bat
| W. were vory much disappointed in not
obtaining this money. and consequently
could not meet the obligations referred
t. and We thought the best course for
al concerned Wa t. make an assign
ment.'
when asked II the liabilities would
| amount 10 $21p.G00 Mr.. Hall replied that
| he did not think they would. Mr.. Clem-
| ems. hc said, was I'm the city
Bainbrilge colby said that At present
| H. was unable to give anything but q
| merely general idea OF how the firm
| stands "Thc liabilities" he said. care
considerably moro than they are at pres
! ent able ~ pay. What the amount i
/ I cannot say. Tho cause Of the assign
mont is the usual cause prevailing II
! business nowadays. and is entirely con
! fined - tho business"
When asked IL the liabilities woul.
/ reach $-f1,0oo h. said no. that they wer.
| not Ialf that amount
/ Mr.. Clemens T. Individually liable fol
the debts OF the concern. as well as the
! rest Of the firm. How much ne has
! don't know. but I don't think h. ha'
| much. H. signed the deed Of assignment
in this city. but he resides in Hartford