The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-26
ISLAND CITY NEWS ITEMS.
Regret Universal Over the l.. & H.
Blum Failure.
B, ADOuE. THE ASSIGNEE. IN CHARGE
Large Force ut Work Taking IN Inven-
tory Liabilities and Assets Not
known-saloon Man Shot.

Galveston. Texas, March 25.--The failure
of the great wholesale dry goods firm of
Leon g. II. Blum hung like pail over
the city today. 1t was tho general topic
of conversation and every one seemed
to feel a personal loss in the disaster
which has overtaken the house which
was the city's pride and boast. Mingled
with the regret for the less of such an
important business concern Is .he feel
ing of personal sympathy. Ter the Messrs.
Blum are very popular With all classes,
being men of the most genial character,
broad minded, public spirited and enter
prising.
Contrary to the expectation expressed
last night by those who knew of the
assignment there was no excitement over
it today. The impression seems to be
generally prevalent that, somehow or
other the firm will recover from its en-
barrassment and be on its feet again
within a reasonably short time and that
things are not SO bad as they at present
seem to be. This. however, is merely
Il hope. which can not 10 sad to have
any basis In anything tlat has drN eloped
since the assignment. for those who are
in position to know most have leAst
Mr. 3. Adoue the assignee who took
charge of the affairs last evening, was
on hand this morning with Il large force
of clerks, mainly cid employees OF the
house. making am inventory of Its assets.
Tho business of the house has tcca so
extensive. however. that several days
will be required 20 lnish this work, and
meanwhile no intelligent estimate of the
irms assets aud liabilities can be ar
rived at. 1t is believed, though that the
liabilities will reach about 81 u0UC0u V lille
tho assets VIII be greatly IN excess of
that sum, such assets including, of
course, property outside of the CONNER
ciai house. which IS very ex. ensive.
MIR Adoue was questioned today con-
corning the condition OF atfairs ard an
swerhd;, ~ .Yas asked 20 accept this trust
without any, previous c0hditiors. save
after considering all me circumstances,
felt 1t my duty 10 opt. have taken
charge OF the business, out until all lee
essary information is before me Prefer
not to make any statement"
The firm of Leon and II. Blum was
established in Galveston in 1856 and has
been in business here continuously since
that time It was The SUCCESSOR of the
firm of a. Blum 4 Bro. Of which MIR.
Leon Blum was the Junior member, which
was established in Richmond, Fort Bend
county in 1853 where a general mer-
chandi2e business was conducted until
the breaking out of the war Then the
BlumS went to Brownsville. where they
Were in business until their removal to
Galveston. They had built up their fine
property and their immense business by
degrees until they stood At the head OF
the dry goods business IN the Southwest.
For q number Of years the firm has sue
cessfully engaged in the cotton factorage
business ana acquired SO much landed
property in the State several years ago
as led 10 the formation of the Leon e
II. Blum Land company. which is said
to be not affected by the commercial
failure. The firm maintained an office In
New York. in charge of Mr. H. Blum,
as well as offices in Boston and in Paris.
Mr.. Leon Blum besides being the head
OF tho commercial firm, is president of
the Leon Il II. Blum Land company,