The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-05-12
WILLIAMS, BROWN & co. FAIL.
Well-knOwn San Francisco Firm
Pushed to the Wall.


SAN FRANCISCO. May 1.-THE we'll
established firm of Williams. Brown & Co..
wholesale shipping and commission mer-
chants, is in financial difficulties. Its liza
bilities are said TO be about 5000, 000 but its
assets are believed to be sufficient to meet
most Of its obligations. If the creditors
will grant an extension of time, the firm
hopes to resume business.
For the past eight years the firm has
been recognized as one of the most active
houses in the Australian import trade. In
the salmon canning business, Williams,
Brown Co. were hackers of enterprises
OF immense proportions. In handling the
Alaska fish output they conducted opera
tons that annually represented from l50.-
600 TO 100000 cases of salmon, and in their
export grain trade TO Australia their ship
thirty-flve to forty cargoes. Since Decem-
Der 10 the company has loaded for the
Antipodes ten ships. whose total cargoes
are valued at $50a 600.
The direct cause of the firms embarrass-
ment is said TO have been the failure of
Australian cogsignees TO meet bills drawn
against them for shipments of grain. A
great deal OF money was lost by the firm
In Its fruit operations in the Fresno mar
ket. and in the Columbia river canneries.
in which they were interested. Last year
they We're large packers OF salmon. which
cost from sl.s0 TO 81 IS per dozen tins. Much
OF this stock was carried over for this
years sales, and at the beginning of the
season the market opened at a price OF
about 81 .05 per dozen tins.
The creditors OF the firm are numerous
in this city. but among the institutions of
prominence here which are known to have
been financially interested are the Bank
OF California. the London, Paris q Amer
lean bank, the French bank and the
Banking Company.
The personnel Of the firm had much to
do with its high financial standing. II was
originally composed OF William Brown.
son OF Thomas Brown. the cashier of the
Bank OF California. and Henry A. VII
liams. son OF Henry +. Williams, the we'll
known banker and president of the Cali
fornia State bank and the California Safe
Deposit Company. William Brown died
about two years ago. and his share In the
business was bought over by Henry A.
Williams. who is now the only member of
the firm.
About two months ago Henry A. Will
Hams left this city for Australia on the
steamer Alameda for the purpose of con-
sulting with Falk & Co.. Australian rep
resentatives OF the house, about the busi-
ness of the firm. He was To leave Sydney
on his return TO San Francisco on May 10.
but no word as TO that has been received
Williams, Brown & Co. have appointed a
committee Of four 10 investigate and make
statement OF the business OF the firm
The committee Will make its report In ten
days. IL Is the general opinion OF the cred
itors that the firms assets will more than
cover the liabilities. and some believe that
$50. 600 would have seen tho firm through
A few Of the creditors are OF the opinion
that Mr.. Thane. the manager. acted too
hastily in bringing the business of the
firm 10 a crisis but Mr.. Thane is OF a Glf
ferent opinion and says that the credit
ors do not understand the situation. He
said:
The business or the Arm has been had
for several years. and Mr. Williams knew
the state OF AFFAIRS when he left for Ans
tralta. on March Il. / have only been with
the firm few years. and Will not he made
the seapegoat Ia this affair Most OF the
firms losses were occasfoned bv ot,r Pa st
ern business In canned salmon. raIsfus ana
dried fruits. Our Australian business has
always been profitable"
From statement prepared by one OF the
creditors the following IL desiuced. Assets
$50 ios; liabilities. slsl. go. Mr.. Thana
says this statement is no; correct. and that
matters are IN much worse state than
the above figures show