New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17
4 BIG SUGAR FIRM FAILS
PERKINS & WELSH ASSIGN. WITH LA
BILITIES or 100000
FINANCIAL DIFFICULTIES CAUSED EY THE WAR
IN CT'EA-TIIE BUSINESS AND HISTORY

OF THE House.
Perkins & Wo.sh. importers OF raw sugars aaG
commission merchants, c. ~. a Wal-ai. a lead
ing firm in their lire made an assignment ycstcr-
day 10 benjamin Perkins caused j. is sal. by The
war N cuba. where the principal part OK 'hcir
business was done The liabilities az. estimated at
more than Tn.Nr. TIE partners arr O'so,i Welsh.
BENJAMIN +. Huiicr. OF MalAsIonc X. y. y, aAd
John Frederick Graz. of southampton y. J. only
Mr. Welsh signed the assignment. as the tNo other
partners are liz cuba looking aft'r the firms in-
terests there Tn,y gave preferences FOR N2isop for
money collected OF deposited subject 20 call. balance
Of account ard for money lent TO the nrnh '' tho
preferences So lG IS - twelve parties in Cnba The
total number Of preferences being Twenty-Five
Among the largest preferences are; }. T.. Lopez
$1,000 Ninda Ajuria. $3.50; J. NJ. Lopez. 800
Casiulo Terrier. sS727: FRANKIE Hjos Co.. $780,
Noricga d Co. SOD; Nicholas 5. Acel N2N; y
Esconaza. 50 5lS. all in cuba, Mary X. Welsh. mia
delphia 5000: Samuel W. Perkins. Tacoma. WASH.
$3.50: Benjamin Perkins Individually ana as trustee
si2o7; Leon Hernandez Paris siGG. Preference IS
also given 70 Henry Ross. Of this city. for what
ever amount may be found due him by the firm
upon the liquidation OF the Mexican business IN
which he and the firm Jointly interested.
Bradstreet's reports state that the firm Of Per-
klns e. Welsh IN 1884 succeeded TO the New York
business Of S &'W Welsh. Of Philadelphia. IN
which firm benjamin Perkins and Osgood Welsh
had been partners. Mr.. Perkins withdrew from
Perkins q Welsh on September 90. 800 Mr. Welsh
continued alone until June l. 1893. when NJ Butler
became a partner. and aftcrwar1 MI. Gray was
admitted 20 the firm. Mr.. Welsh was considered
one OF the best Informed merchants IN the raw
sugar trade. The firm sd very good trade In
sugars having cons.gnmenis from s)Yic of The
best estates In Cuba ana selling TO renncrs here.
They are commission merchants, ana also acted
bankers for parties IN cuba. they control several
"centrals" in Cuba. While other business has been
chiefly with cuba. they also received sugars from
other West India Islands. They also received con-
signments OF coffee
L. H. Arnold OF Arnold. Greene & Patterson.
attorneys for the firm, SAID that the assignment
was due entirely 70 the unsettled state OF affairs
In Cuba. The firm have made large advances 10
planters there the present crop. ana they cannot
get the sugar the rcVOutonists vii. not allow
the crop 70 be gathered or the cane ground. The
firm are not drec; owners Of any plantations there.
but are Interested in several having mad" advances
on the these estates. AZ bankers FOR
Cubans they have preferred all claims against them
in that capacity. Messrs. Butler and Gray. OF the
firm. have been In Cuba for the last two months.
SO far as known at present none Of the plantations
I'm which the firm Interested have been burned.
The liabilities not definitely determined yet,
but Mr.. Arnold estimated them at upward Of 49,
900 due to banks. merchants ard friends. The az
sets large. but It IS impossible 70 place value
on them at present, the amount VIII depend
largely upon how matters turn out IN Cuba