The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-12-06
Numerous Fires and a Genera
Depression Brought on an
Assignment.
DEBTS FOOT UP VERY HIGH.
Demand for Cheaper Wares and the
Return of Big Order Hastened
the Collapse.

CHICAGO, ILL, Dec. 5.-The A. H.
Andrews Company, manufacturers OF tine
furniture and Office fixtures and one OF the
best known companies in its line in the
country, confessed Judgment to-day in the
county court in favor of the Globe Ma
tional Bank on two Judgment notes aggre-
eating $25, IA. An assignment was made
to Frederick A. Holbrook, general man.
ager of the company. The liabilities are
said to be between $350,O00 and 100000.
and the assets are said TO exceed the liza
bilities by about 100000.
The Sheriff is now in possession OF the
building and stock. The assignment was
said TO have been precipitated by the ac-
ton of the bank in entering up Judgment
on the two notes held. 1t is not denied
that the company has been under a Sc
we're financial strain for the last two years.
1t employs about 400 persons, and, like
other large concerns, it felt the late inan.
cial stringency severely. Bad luck has
also added its quota, the company having
suffered from no less than dozen fires.
The liabilities OF the company outside the
sums due the banks are said to be pretty
widely scattered. The amounts due stock
holders who advanced cash to the COM
pany are not known, but it is said they are
not very large. A considerable portion of
the Indebtedness is said to be owing deal
ers in merchandise of the sort which the
corporation dealt IN, and to sellers of the
material used by the company in the man
ufacture of its products.
Frederick A. Holbrook, general manager
and assignee. gave the following account
of the assignment:
1--WE had no idea the Globe National
Bank would take the step it did until the
Sheriff appeared shortly after noon to-day.
We have been doing all our banking at the
Globe National and at the Union National
banks. At the latter our account is pro-
tected by collateral, and we thought it was
so at the former"
When asked as to the cause leading up
10 the assignment Mr.. Holbrook said {:
''Our house deals exclusively in the finer
grades OF Office furniture, ETC., and we have
a reputation for this class of goods all over
the United States. When the hard times
came on cheaper goods were in demand.
We could not compete with the cheap
houses, and the consequence was we were
cramped for ready money"
An affair at Salt Lake City in which a
lot of furniture was thrown back on the
hands of the company is thought by some
to have cut considerable figure in causing
the failure. 1t was discovered that the
agent in Salt Lake City had secured the
contract by means which. whether legiti-
mate or not, were called into question and
the contract was Cancelled.
J. L. High, attorney for the Globe Ma
tional Bank, said this afternoon that he
had little information as to who were the
other claimants. II understand" said
he, ''that the principal creditors are in
New York. They are personal friends of
Mr.. Andrews and have advanced him
money from time to time"
The officers of the firm are: President,
Alfred Hinsdale Andrews; vice-president,
II. L. Andrews; treasurer, c. S. Holbrook
secretary, c. Frank Weber. On January
I, 1885, the firm became the successor of
Baker, Pratt & Co., New York. 1t began
with capital stock of $4,000, and on that
the first year it did business of $50,000