The San Francisco call., 1897-01-01

| The Levin failure was the talk in mer.
camille circles yesterday. During the
| afternoon the Board of Trade sent out this
| notice:
SAN FRANCISCO, Dec. 81, 1896
To the Creditors of Lsvfn Bros, San Francisco
| and Oakland, CdL-GENTLEMEN: Your com
mlttee, appointed at the regular meeting OF
creditors, beg to report that they have secured
assignment from Levin Bros. TO Jacob Levi Jr.,
A. l.. Whitney and J. P. Edoff of all their prop
erty, and now have adiusters in eacn OF the
four stores, with the Berkeley store closed up,
its stock being moved to Oakland.
We shall furnish you with q full statement
OF affairs within a few days, and, at the same
time, advise further with you as to the best
course to adopt. Very respectfully,
j.. Levi Jr., A. L. Whitney, Jesse W. Lilien-
thai, Louis GetZ, ]. P. Euoff, NJ. Samuel, J. j.
Schultz. committee.
Several leading creditors were inter-
viewed yesterday for THE CALL. and the
opinion was expressed that the assets OF
the firm would not produce more than 10
per cent of the Indebtedness. A repre-
sentative of prominent house said that
his firm would cheerfully accept 20 per
cent OF its account with Levin Bros.
The adjusters of the board have now
control OF Levin Bros main store and the
branches. An immediate inventory of the
goods in hand and an examination of the
books of such store will be made. Nothing
of definite character regarding the value
of the assets can be obtained before Mon
day next.
Merchants who have seen the checks
representing the payments of $4,000 to
creditors between November % and De-
Gem ber 26 say that the last large payment
was made to II. Levi & Co. The next
largest check was one for $1700 in favor of
G. E. Whitney & Co.
Il is remarked as creditable to the
r Ho1 L.rv Ill
! their property, money in bank, real estate
and life-insurance policies for the benefit
of their creditors. The Anglo-California
Bank, creditor to the amount OF $35, ZOO,
is secured to some extent by an equity in
real estate on which the German Savings
| Bank holds q mortgage. c. 4. Whitney
& Co. are secured in measure by as
signed insurance policies.
A representative of leading firm on
Market street says that Jacob Levi was
perfectly fair and just in his appointment
OF the committee. 1t was according to
custom and right that Mr.. Levi presided
at the meeting Wednesday, as his house
was the largest creditor. When request
was made to him that the dealers in dairy
products should have representation 1on
the committee ne readily assented and ap-
pointed the merch ants whose names were
suggested.
There were no startling developments in
the Levin failure yesterday. In the fore
noon a mum Der of creditors held meet
ing at the Board OF Trade rooms. The
future action of the creditors was dis
cussed in general way. but it was decided
to do nothing until after report of the ad-
iusters, which is expected to be filed on
Tuesday. The main and branch stores
we're IN charge of accountants yesterday,
and the work of making an inventory
proceeded without delay.
julius Levin yesterday sent the follow
ing letter to THE CALL:
To the San Francisco Call: The report pub
lished in the daily press of an interview had
with me and relating to the losses sustained
by my firm, in so far as it reflects
upon. the integrity Of any of our en-
ployees, does both them ana me a
great injustice. Nothing was further from
my thoughts than to call in question the in-
tegrity of our present employees. whose fidel-
ity TO our interests, and rict integrity, have
always commanded our fullest confidence and
appreciation. JULIUS LEVIN