The San Francisco call., 1897-01-20
DAVIS BROS.
CAUSE SURPRISE
The Golden Rule Bazaar
Passes Into Other
Hands.
Their Partnership Will Expire
During This Month By
Limitation.
Affairs Prosperous and Personal Re-.
lations Cordial, but a Cash
on Equities.

The dissolution of the partnership OF
Davis Bros. of the Golden Rule Bazaar
after twenty-six years of unprecedented
business success, will call forth only ex-
pressions of regret from the community.
The business was started in 1871 by the
brothers Ansley, Eugene and Andrew in
a very modest way at 419 Kearny street.
Their push and business enterprise were
manifest from the start. They established
numerous branches of their business in
this City and elsewhere.
In 1888 Eugene retired from the firm,
and now the brothers Ansley and An
drew's partnership having dissolved by
limitation and they being unable to agree
as to the manner of liquidation, it was
deemed best to select three weil-known
and influential men to act as liquidators,
and so the Golden Rule Bazaar passes
into other hands.
The Golden Rule Bazaar has always
been most popular store, and it will
doubtless lose none of its popularity under
the new management. The force con.
stantly employed at their places of busi-
ness mum bers from $50 to 600 employees,
according to the seasons of the year.
An arrangement was perfected on Mon
day by which the business and good will
| of Davis Bros. was purchased by cor
poration consisting Of w. P. Morgan o1
the Meriden Britannia Company, Albert
| Meyer of Daniel Meyer & Co. and Gustaye
Frederick, cashier of the London and San
Francisco Bank, and Yesterday the new
| owners took possession.
The liquidation of the old firm will pro-
| ceed as rapidly as possible, and all the
affairs of Davis Bros. will be adjusted by
| Messrs. Morgan, Meyer & Frederick.
Cards have been sent out to all the cred
| itors stating that their bills will be paid as
! fast as they fall due.
1t was learned from one connected with
the firm that the assets will exceed the
liabilities by at least $500, ,000. This shows
conclusively that its condition was most
prosperous.
The brothers have not been able to agree
on lines of policy and management fol-
some time, but this lack of harmony was
not of personal nature. Their views aS
10 their respective interests were diverse
and rather than go to law and have the
property pass into the hands of receiver
! they decided to nave the gentlemen men,
toned act as liquldators.
Andrew DAVIS was seen at the residence
| of his brother-in-law, Attorney A. f.
| Ben iamin, a. 2712 Pine street. and made
of affairs:
| "The co-partnership existing between
my brother Ansley and myself expired by
limitation this month. For over year
we have Leen discussing the question of a
settlement. My brother owned the larger
snare, and the only difficulty that arose
was in the matter OF proper settlement.
"On this we did not disagree, strictly
speaking, but merely were unable to agree
in regard to the equities of the firm g
property. The trouble was not of a per-
sonal nature, and to-day the relations ex-
| istiEg between US are as cordial as ever.
I'VE did not care, however. to perpet-
uate the partnership, and each was will
/ ing to buy the other out, but he different
valuations we both placed on the store
and its fixtures rendered this impossible
So we turned the property over to Messrs.
Morgan, Meyer and Frederick to act as
| liquidators.
''They virtually own every thing now.
! When the property is sold my brother
and | will receive our shares. 1t is not
i'm probable that one or the other of US
may purchase the store and fixtures of
the firm and continue in business at the
! old stand"