The San Francisco call., 1896-12-31

be closed and his business crippled to
such an extent that recovery would be
extremely difficult. All his energies were
directed toward preventing this yester-
day, and with every promise of success.
In speaking of the past experience OF
the firm and the present embarrassment
ne was frank and outspoken. and made
no attempt either to evade questions or
conceal any information. In the course
of an interview he made the following
statement:
"The only way that I can account for
this trouble is the business depression
that has been prevalent everywhere in the
country for the past few years. AS re-
suit of this we were driven to keener CON-
petition than usual, and profits were cut
to very low notch. At the same time
our expenses were heavy and accounts
were difficult to collect. There were also
other sources of loss which do not care
to make public, but which were serious
drain, consid ering that we had tive stores
and employed from forty to fifty hands.
1--WE have been in business in this City
for twenty years and always paid every
body dollar for dollar. This is our
first trouble. We have always been con-
siCered by the general trade as Al, and
our credit was of the best.
I'VE have bought in this market on an
yerage $4,000 to $4,000 worth OF goods
per month for the last two years, and have
until very recently met all our obligations
promptly, as any of our creditors will tell
you. Even within the last thirty days we
have paid out in the neighborhood OF
$28. 600 to our creditors, and as recently as
the Goth of the present month We paid to
one of our creditors our check for $26QO.
''My principal anxiety now is to re-
open regularly for business as quickly as
possible. We have done everything
possible to protect our credit We saw the
storm coming few days ago, and thought
the best thing to do was to adopt the plan
we carried out. We notified our creditors
and asked that they at once call a meeting
to act on our affairs. This was done on
Tuesday, and Notwithstanding this
straightforward course that we pursued,
one of our creditors, E. Martin & Co.,
liquor dealers, attached our Market-street
place for a claim of $400 to-day.
"This was followed later by an attach
ment by the Standard Soap Company on
our Sixth-street store for claim of 500.
We expect to have both attachments re-
leased o-morrow, when our affairs will be
placed entirely in the hands of the as
signees selected by the Board OF Trade
com mlttees. The assignees are j. P.
Edoffs of the firm of Dallemand & Co., A.
Jacob Levy OF III. Levy & Co. Frank F..
Strelzer is now in charge OF affairs as the
representative of the assignees.
1--WE shall use every effort to prepare a
complete statement of our business be-
tween now and Monday, and shall work
every day and night until then without
intermission 50 as to have it ready for the
next meeting of the creditors which is to
be held on Monday at 10 A. NJ.
''I am confiG Gent that our assets will
reach between 20 and so per cent of our
Liabilities.
1--WE have always bought in this market
and always gave home productions the
preference. do not think that we have
bought more than $4,000 worth of goods
East and that only within the last Two
years.