The San Francisco call., 1897-09-02
]. O'BRIED & CO.
HAVE SETTLED
All Business Complications
Satisfactorily Ad-
justed.
James 0'Brien Is Now at the
Head Of the Reorganized
Establishment.
Appreciation of The Calls" Hand
some Treatment of the Firm
Cordially Expressed.

The dry goods house of J. J. O'Blien e.
Go. effected settlement of its business
interests yesterday and to-day begins a
new lease OF commercial activity.
After the death OF J. ]. O'Brien, the late
head of the firm, certain business com pill
cations arose that required time and skin
in securing an adjustment. but all the ar
rangements have been concluded to the
satisfaction of every one concerned.
Under the new regime James O'Brien,
the surviving partner, will be the man.
ager of the business and president of the
| board of directors OF the corporation that
has been organized to continue the busi-
ness. The other memb bers of the incor-
poratIon are Mrs. Ella F. O'Brien, widow
OF the late ]. J. Brien; her two sons,
Gerald l. and Joseph ]. 'Brien, and Mrs.
Maria A. O'Brien, wife of James OBrien.
1t will be seen that the affairs of the firm
are entirely in the hands of the O'Brien
ia mily.
James o. BTien said last night that he
fully realized the responsibility of the
leading position to which lie had been
called by the course of events, but his
eighteen years experience in the affairs Of
the concern warrant the expectations of
his friends and the friends of the house
that he will keep the esta blishment UP 10
the high standard that it has always occu-
pied in the esteem of this community.
First of all | feel that l ought to ex.
press my gratitude to my attorneys, Judge
J. f. Sullivan and his brother, Matt I.
Sullivan, for their ndship and assist
ance in carrying out this settlement and
bringing 1T to a successful issue, remarked
Mr.. O. Brien, ''for without their careful.
devotion to the welfare of those most
nearly interested it never could have been
completed
Mr.. O'Brien authorized the statement
that the settlement was made on the basis
of paying creditors 60 cents on the dollar.
which. considering the vast interests in
volved, was deemed an excellent arrange
ment for the creditors. One thing insisted
on by Mr.. O'Brien was that the Eastern
creditors should be treated as well as the
local creditors and this was acquiesced in,
though from legal standpoint creditors
outside of the State were at great disad-
vantage.
Mr.. OBrien and Messrs. Sullivan &
Sullivan agreed in the sentiment that
The CALL had treated the firm of ]. j.
O'Brien & 20. handsomely in the settle
ment just reached, and they joined in the
opinion that without the friends hip OF
THL CALL it would have been difficult
thing to have carried this arrangemen to
a successful conclusion.
A gratifying feature Of the Investigation
of the concerns business revealed the fact
that the assets aggregated between $780,
600 and $400, 000. which was certainly an
excellent showing.
Among the friends of the house who
have put their shoulders to the wheel and
have helped to put the estabis m ent on
solid basis may be mentioned Judge
Robert ]. Tobln. secretary and treasurer
Of the Hibernia Bank; Mahoney Brothers,
contractors and builders; DR.. G. F. Buck
ley and others of equal standing in the
business world of San Francisco.
so now we will continue business at
the old stand" was Mr.. O'Brien's closing
remark last night "and it may be of in
terest to the friends of the house to know
that we will employ the same staff, af-
fording the same high standard of wages
and good treatment, and we shall also
need about fifty additional statesmen to
help out in the big sale that we shall in
augurate next Monday in order to make a
speedy disposal of goods on hand, so that
there shall be room for the fall i'm porta-
tions in transit. In this sale goods will be
offered on the basis of the settlement;
that is to say, at 60 cents on the dollar"
There was genuine enthusiasm among
the ola attaches of the store some of them
having been twenty-five years in this en-
pioy, when the news of the settlement
reached the corner of Market and Jones
streets last night. The seventy-five en-
ployes of the firm in Los Angeles also sen.
congratulatory telegram.