The times. [volume] (Richmond, Va.) 1890-1903, 1894-04-19
MARh TUITN IIiL>.
A Publishing Firm oi W hich He ~ Mem
bgr Forced to Assign

NEW YORK, April 1s.-The assignment
OF Samuel l.. Clemens. Mark Twain,
and his partner, Frederick J. Hall, who
compose the firm Of Charles L, Webster
& CO., book publishers, at "a Fifth ave-
nue.. was filed m the county clerks Of
flee to-day lust at the close of business.
The assignee is cambridge Colby, of NO.
So Wall street, with Stern q Rushmore,
attorneys. The assignment was without
preference. and the deed was signed by
Mr.. Clemens In this city.
The assignment was complete sur
prise, and Z Is stated 10 be on account
of the failure TO obtain money the firm
confidently exported. Bradstreets reports
state that the business under the hrm
name Of Charles l.. Webster a co was
started on May l. 1851 by Charles l..
Webster and mis- wife's uncle, Samuel l..
Clemens. The firm started in to publish
the works of Mark Twain but after
wards added the works Of other authors,
principally subscription books. Ihey also
handled miscellaneous books. The imam
cial strength Of the firm was centered IN
Mr.. Clemens, who was supposed 10 be
worth several hundred thousand dollars.
Mr. Webster withdrew from the firm IN
1883. and died on April &C. 1891. Frederick
]. Hall succeeded Mr.. Webster in the firm
on the latter's withdrawal IN l>ss, ana
has s.nce continued as the active man
TWain's" works, the firm published the
memoirs Of General Grant, life OF Pope
Leo. and other books. In 1881 the nrm
began the publication OF the Library OF
American Literature" into which II was
understood they published lpDo' ana
which tied up a part OF their chpi'ai'
They subsequently sold this part Ct The
establishment. Ii is stated that the iirm
sold part Of their subscriptlon-boo
business They continued 10 have sub
scriptlon branch, but were making trade
books the feature OF the business. Their
certain resources in business amount 10
from SiJO000 to 5000 600 above any debts.
Mr. Clemens is worth from, SOo,0U TO
500 900 outside of his investment In the
firm.
MIR. Hall to-day said: THE assignment
was very sudden and unexpected We had
exnectcd TO get money from certain
sources which We had counted upon 70
meet certain maturing obligations but we
were very much disappointed in not OBJ
tanning this money. and consequently
could not meet the Obligations reierr gsn
TO and we thought the best course FOR
All concerned was to make an assign
..sked IL the liabilities would amount to
$4,000 Mr.. Hall replied that he ola n9t
think they would. Mr. Ciemehs, nv s saiii
that at present he vas unable 10 Nv
ANYTHING hut a mere general idea or nov
The firm stands. THE liabilities ne
said. ARE considerably more than w.
are at present able to pay what ~. ne
amount is cannot say. The cause o OF Tue
assignment Is the usual cause preyaiiiliaii.5;
In business nowadays. ana II
confined to the business. rosch
Asked IL the liabilities wou'd ie 80
500 600. he said. NO. that they were
not half that amount ,atto for
"Mr. Clemens IS individually haple ~, W.
rho debts Of the concern as we'll as t"T
rest of the firm. How much ne na Sos
don't know, but I don't mink ,,n,e ~
much. He signed the deed OF assisi, rsm
in this city, but he resides IN litr