Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-04-12

Liabilities Placed at S20.000-A Re-
cefver Appointed.

flNee0 F<VsOOo@A Asr~
ceiver Appointed.
The Talbot & Sons Company. founders
and machinis.s of an almost worldwide
reputation. failed yesterday, with liabili-
ties Of $4,000 The deed Of assignment
was placed on record In the Office of tho
Clerk of the chancery Court yesterday
afternoon. and the parties thereto were
Messrs. Charles II. Allen. William IA.
Talbot, and Alexander w. Archer and
their wives, and Harriet j. Williams,
and NJ. Adele Armsstead, OF the first
cond part, the latter becoming the trus-
tee. The real estate assigned Is as fol-
lows:
Dwellings Nos. 5l2. 5l4 and 5l6 west
Franklin street.
Lot on the south line of Monumental
avenue between Lombardy and Allen
avenues.
Lot No. in square 81, in the city Of
Macon, Ga.
Parcel Of ground in Macon, Ga. desig-
mated as "a bargained encroachment."
All the personal property of the firm Is
also transferred. This embraces book
accounts. notes, acceptances, ETC.; chooses
In action. and all other personal as
sets, whether situated in Virginia or
elsewhere.
The assigner, also assign all their
right, title. and interest in the mouse
and lot northwest corner OF Franklin
and First streets. Accompanying the
deed of assignment IS two deeds OF trust
upon the engine, boilers, ETC., at the
works of Talbot & Sons Company, on
Cary street between Fifteenth and Seven
teenth. one Of which was given to Mann
s. Quarles. trustee. August g. 1896, to Sc
cure the payment of notes aggregatlng
the sum OF $5,5SS.66. and the other to r..
A. Lancaster, Jr., dated January 90,
1896 to secure the payment of $1,000.
The trustee by the deed was directed
to take immediate charge OF the pro-
perty. and to settle with the creditors
in the following order:
First-Expenses incurred In connection
with executing the deed, taxes due, etc.
Second-Messrs. Coke & Pickrei. 1900
for professional services during the past
two years.
Third-Eris NJ. Talbot. s1O3ss.4o. with
interest.
The fifth class contains all the other
creditors.
Shortly after the deed of assignment
was recorded a bill was fled In the Law
and Equity court By Oaay ADie"ty "fN
William H. Palmer. on behalf OF them
selves and other bondholde.s OF the Tai
bott & Sons Company, praying for the
appointment Of receiver. The petition
was promptly granted. Judge Minor APP
pointing Robert A. Lancaster. Jr.. re-
ceiver. Mr.. Lancaster was duly qualified,
and gave bond in the sum OF S2DWo.
The above figures do not purport 70
show the total liabilities OF the Talbot
& Sons Company. The concern has out
standing $4,000 Of bonds. covered by Q
mortgage on the plant and certain real
estate. Besides this. X Is stated that
the company borrowed recently the sum
Of $4,000 from the Richmond Perpetual
Building and Loan Association and the
Finance Trading Company Jointly. This
debt is secured by real estate also. III
is thought that all the liabilities Including
bonded debt, will probably amount 10
$4,000.
The reason assigned for the failure OF
! the company is that II sustained very
heavy losses in the State OF Texas, where
a great deal of work had been shipped
and collections had been very poor.