New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-08
J. II. JOHNSTON &, co. ASSIGN.
THE L, ON SQUARE JEWELLERS BARE.
LY ESCAPE AN ATTACHMENT.
vICTssrrrDEs OF AN EXTENSIVE BrslNEss
STARTED THTRTy-sIX YEARS AGO IN THE
BowERY-cHARGEs OF MrsREPRE-
SESrATrON MAIZE

EowERY-cHARGEs OF MrsREPRE-
sENTATroN MADE.
J. r. Johnston & Co. dealers in watches. 1ewelrz
silverware and diamonds at No. l. Union Squara
made assignment yesterday to Arthur r.
Masten and John r. Keim. The officers Of the cor.
poration John H. Johnston. president, and Al.
bert r. Johnston. treasurer
John II. Johnston is one OF the best-known men
In the retail jewelry trade. and has been In bust.
ness about thrty-six years. He started in a store
at Broome-st and the Bowery. and there built I'D
a large business. advertising extensively the pur.
chase Of duplicate wedding presents. Of which he
made a special feature. He remained In business IN
the Bowery until 1892. when he abandoned his store
business having drifted way from that thorough.
fare. He had already opened the Broadway s:ors
and this had proved to be a better stand.
In March. 1892. Mr. Johnston turned the business
into n stock company. with a capital OF $4,000
About two years ago Bradstreet's shaded their
credit rating and In February 1885, took way their
capital rating. On Wednesday last the company
called number of the principal creditors together
and A. f. Johnston. the treasurer Informed them
that the company insolvent. the liabilities BE-
Ing s29,0 co., and assets s2oo30o The liabilities
for merchandise s1l.00; rent and taxes In arrears
Sl5 0c0 due to the bank. $4,000: due to individuals
$23 CO., The assets consist OF stock. Ss5.o0. book
accounts. $4,000; cash. $780, due from tenants. $780,
furniture and fixtures. 1880 The total sales for
company, but the expenses were about equal to tho
gross profit of 60000 In the last three months the
company purchased goods to the amount OF $4,000
and made sales OF $4,000
No agreement arrived at concerning a settle
ment and, fearing attachment. the company
yesterday filed assignment at a. m. IN tho
County Clerks office. Two hours later the Sheriff
received an attachment against the company for
$S.977 in favor OF the Alvin Manufacturing Com.
| pany. which made the Johnston Company loan Of
| 5000 on January 81. 1885, taking its note the
strength it is alleged. OF a statement signed by A.
| L. Johnston. the treasurer. OF the companys con.
| ditiop In September 1895. which claimed assets
$751;, SO7 and liabilities $4.Sl6 The officers OF the
Alvin Manufacturing Company say they have since
learned that a statement made at the same time
to the Gorham Manufacturing Company showed
similar assets. but that the liabilities were %'.lu
greater. .
tachment yesterday. also obtained two more at
| tachments in favor OF the Gorham Manufacturing
Company. aggregating sl7424. for merchandise and
money lent.
| OTHER LOCAL BUSINESS COMPLICATIONS
/ Harry Warrick. doing business as warrick
| Freres dealer in essential oils and perfumers ma
terials at No. go Greenwich-st. made an assign.
| ment yesterday to Thomas Bowman. without pref
| erence The business established here In ISL
| as a branch Of Warrick Freres. OF Grasse. France.
and has ever since been in charge Of the assignor
| In December, 1885, he exchanged his interest In
Warrick Freres Of Grasse, for the sole agency OF
that firm in the United States. Canada and Mexico.
| A year ago his inventory showed assets s4ovv
! liabilities $1,000. due in this city. London and
| GrasSe.
| Schedules Of Liebler & Mass. photographers and
| prirters at No e24 Centre-st show liabilities 49,.
ia, nominal assets $l2S59S. and actual assets SiSa
| Conrad Beck and Henry Beck. doing business -
| c. Beck & Son at Nos. 7Ol and sos Columbus-avA.
| who made an assignment for the benefit OF cred
| itors on October to Abraham Loeser. have mace
q settlement with all their creditors, ana theiE
| property has been reassigned to them oy the as
| signee.