The San Francisco call., 1897-05-12
FORCED TO
SUSPEND
BUSINESS
Announcement of the Fail
ure of Williams,
Brown & Co.
LIABILITIES ESTIMATED
AT $420,00O.
Most of the Heaviest Creditors
of the Firm Fully
Secured.
The SOLE PROPRIETOR OF THE
BUSINESS ABSENT.
Left With His Family on Trip to
Austr ALA About Two Months
Ago.
Most of the Heaviest Creditors
of the Firm Fully
Secured.
The SOLE PROPRIETOR OF THE
BUSINESS ABSENT.
Left With His Family on Trip to
Austr ALA About Two Months
Ago.

Williams, Brown & Co., commission
merchants of 308 Market street, have gone
to the wall, owing their creditors coDsid-
erably over $4OO, 900. Most of this is fully
secured, but large portion of the liabili-
ties was incurred on the simple credit OF
the firm.
The firm was established early in 1889,
and then comprised 81. A. Williams, the
son of the welI-known banker and presi-
dent of the California Safe Deposit Com
pany; William Brown, son OF Thomas
Brown, the cashier of the Bank of Califor-
mia: W. NJ. Brison and F. A. Pasmore.
The last named gentleman withdrew about
a wear after the firm was launched, Brison
severed his connection about three years
ago and Brown died about six years ago,
at which time Williams bought the inter
est of the deceased and thus became the
sole proprietor of the business. The Office
of the firm was formerly at 116 California
street.
All the salmon pack OF Alaska and of
the Columb bia River was virtually con-
troled by the EN- barrassed firm, which
also operated largely in dried and canned
fruits of California production, in ralsins
and in groceTs' supplies. The latter arti-
cles were handled as agents for Eastern
manufacturers. The firm found lis mar
kets in Australia, Japan, England and the
larger Eastern cities of the United States.
OF late Mr.. Williams has also handled
grain and -four for consignees in Aus
trala.
Among the connections of the firm were
the following: Alaska Packers Associa-
ton of San Francisco; Fishermen's Pack
ing Association Of Astoria, Or. !; North Pa
CHIC Packing and Trading Company of
San Francisco, Alaska Salmon Company,
Hickmott Canning Company or Oakland,
Nelson Canning Company of Biggs. Boul-
din Islano Asparagus Canning Company,
Shamell Packing Company of San Fran
cisco, Western Starch Association of Chi
cago, Bensdorp Royal Dutch Cocoa Com
pany of Amsterdam, Neuchatel Asphalt
Company of Switzerland; Benjamin
Brooks & Co. of Philadelphia, manu-
facturers of soaps; William g. Moehning
81 Co: OF New York, and Delafeld, Nc
Govern & Co. of New York. In its earlier
history the firm conducted the Williams
Brown Fruit Com pany, handling raisin,
and dried fruits, with agencies at Fresno,
Sanger, Hanford, Selma and Dayisville.
Williams, who is now the only member
of the firm, left here for Australia on
March Z, with his wife and three children,
OIL what was understood to be q COM
bineu business and pleasure trip. He is
expected back by A. f. Thane, his conf
Dental clerk ana manager, who holds his
power OF attorney, some time in June.
The failure was precipitated by the pre-
sentation on last Saturday of a draft by
one of the local banks, and Mr.. Thane was
unable to raise the money 10 meet TIE
paper. Realizing that it was impossible
for him to conduct the business any
longer without more ready money, he
notified the creditors of the firm in this
City on Monday and called meetin gfol
o'clock yesterday. At this meeting Mr.
Thane presented statement of the affairs
OF the firm, and committee of four was
at once appointed to investigate as to the
correctness of the statement and to report
OF some plan OF action to be taken in the
future by the creditors. The committee
consists of d. Drysdale of the Alask
Packers Association, A Powell of the
Bank of British Colum bia, D.. E. Bowles
of the First National Bank of Oakland
and S. Prentice Smith of the Bank of Cali.
fornia. Mr.. Smith is chairman of the
committee and has called meeting of the
committee for Saturday at the Bank oi
California.
In the statement submitted by Mr..
Thane the unpledged assets of William
are given as being about $200U00. but it i.
acknowledged that this is simply their
nominal value, and that they will not
consist of goods in warehouse, bills re-
ceivable and outstanding accounts.
The liabilities are reported in this state
ment to aggregate about 1920, 600. Those
secured are as follows: First National
Bank of Oakland, $32, 600; Alaska Packers
Association, $S6. 600; Delateld, McGovern
& Co., New York. $24, 900; U. H Dudley &,
Co., New York, $500; miscellaneous,
$4,000; Compton d 'Escompte of Paris,
$76 800. The partially secured liabilities
are as follows: Bank of California, $93, $50;
Bank of British Columbia, $56. 300: mis-
cellaneous SAL, 900.
In speaking of the unpleasant position
in which he has been placed by the abb
sen ce OF his principal at this critical time.
Mr.. Thane said that he became aware OF
the fact that the firm was in tight posi-
tion shortly after he was left in charge OF
the affairs of the firm by the departure oil
Mr.. Williams. He further stated that the
embarrassment of Mr.. Williams was not
due TO any recent losses sustained in busl-
ness, as the main volume of trade was
with Australia for some time past and
this business had always been a very
profitable one. He declared that the
trouble was brought about by losses tina,
were incurred two or three years ago in
handling dried fruit and raisins and that
the interest that had to be paid by Will
liams in order TO keep him self afioat eince
that time was what 'ate him up."
1t was reported that the firm had been
speculating in grain and -four shipments
to Australia, but this Mr.. Thane emphat.
ically denied. Among the stories current
in this connection is one to the effect thai
the firm lost $50, 900 on a single cargo o.
barley that had been shipped to Australia
because the consignee and purchaser de.
clIned to accept it on the ground of some
technical failure To observe the charter
party on the part of Williams, Brown
& Co.
New Depot for Hanford